๐๐๐๐๐ ๐๐ ๐๐๐: ๐๐๐๐ ๐-๐๐๐ ๐๐๐๐๐ ๐๐๐๐๐๐ ๐๐๐๐๐๐๐๐๐๐ ๐๐๐๐
๐ ๐๐๐ซ๐ฌ ๐ข๐ญ ๐ก๐๐ฅ๐ฉ๐ฌ ๐ก๐๐๐ค๐๐ซ๐ฌ, ๐ก๐ฎ๐ซ๐ญ๐ฌ ๐๐ฒ๐๐๐ซ ๐ฌ๐๐๐ฎ๐ซ๐ข๐ญ๐ฒ
โฌ๏ธ What happened?
Big U.S. banking groups like the American Bankers Association just told the SEC to cancel its rule that forces public companies to report hacks within 4 days.
โฌ๏ธ Why are they against the rule?
They say it causes more harm than good:
โค Can tip off hackers and make attacks worse
โค Interferes with police investigations
โค Causes confusion about what must be shared
โค Makes companies more likely to get sued or extorted
โค Hurts internal team communication during emergencies
โฌ๏ธ What rule do they want removed?
They want the SEC to remove โItem 1.05โ from:
โค Form 8-K (used to alert investors of major events)
โค Form 6-K (used by foreign companies in the U.S.)
They say the old rules were better and safer for handling cyberattacks.
โฌ๏ธ What does this mean for crypto firms like Coinbase?
This rule also affects crypto companies like Coinbase, which recently:
โค Faced a staff leak and phishing attack
โค Refused to pay a $20M ransom
โค May lose up to $400M
โค Got hit with 7 lawsuits after disclosing the breach
If the rule is removed, firms like Coinbase would have more time to handle incidents before going public with them.
