The seal of the Federal Communications Commission (FCC) is seen before an FCC meeting to vote on net neutrality in Washington, Dec. 14, 2017. The Biden administration and major consumer tech players are launching an effort to put a nationwide cybersecurity certification and labeling program in place to help consumers choose smart devices that are less vulnerable to hacking. Officials liken the new "U.S. Cyber Trust Mark" initiative to the Energy Star program that rates appliances' energy efficiency. It will be overseen by the Federal Communications Commission. (AP Photo/Jacquelyn Martin, File)
The Biden administration and major consumer technology players on Tuesday launched an effort to put a nationwide cybersecurity certification and labeling program in place to help consumers choose smart devices that are less vulnerable to hacking.
Officials likened the new U.S. Cyber Trust Mark initiative — to be overseen by the Federal Communications Commission, with industry participation voluntary — to the Energy Star program, which rates appliances’ energy efficiency.
“It will allow Americans to confidently identify which internet- and Bluetooth-connected devices are cybersecure,” deputy national security adviser Anne Neuberger told reporters in a pre-announcement briefing.
Amazon, Best Buy, Google, LG Electronics USA, Logitech and Samsung as among industry participants.
Devices including baby monitors, home security cameras, fitness trackers, TVs, refrigerators and smart climate control systems that meet the U.S. government’s cybersecurity requirements will bear the “Cyber Trust” label, a shield logo, as early as next year, officials said.
FCC Chairwoman Jessica Rosenworcel said the mark will give consumers “peace of mind” and benefit manufacturers, whose products would need to adhere to criteria set by the National Institute of Standards and Technology to qualify.
The FCC was launching a rule-making process to set the standards and seek public comment. Besides carrying logos, participating devices would have QR codes that could be scanned for updated security information.
In a statement, the Consumer Technology Association said consumers could expect to see certification-ready products at the industry’s annual January show, CES 2024, once the FCC adopts final rules. A senior Biden administration official said it was expected that products that qualify for the logo would undergo an annual re-certification.
The Cyber Trust initiative was first announced in October following a meeting between White House and tech industry representatives.
The proliferation of so-called smart devices has coincided with growing cybercrime in which one insecure device can often give a cyberintruder a dangerous foothold on a home network.
An April report from the cybersecurity firm Bitdefender and networking equipment company NetGear, based on their monitoring of smart homes, found that the most vulnerable devices in 2022 were, far and away, smart TVs, followed by smart plugs, routers and digital video recorders.
Providers of numerous smart home devices often don’t update and patch software fast enough to thwart newly emerging malware threats. The Cyber Mark standards are expected to make clear which devices patch vulnerable software in a timely fashion and secure their communications to preserve privacy, officials said. Also important will be informing consumers which devices are equipped to detect intrusions.
While people have been spending more time on their phones throughout the pandemic, a new report shows they were also spending more money as well. A review from Sensor Tower on the global app ecosystem this year found that the app economy will see record consumer spending in 2021, up nearly 20% from 2020. Sensor Tower director of sales and financial institutions Anthony Bartolacci joins Cheddar News' Closing Bell to break down the report.
The future of gambling in Florida recently suffered a major setback after a federal appeals court rejected a request from the state and the Seminole Tribe to allow online sports betting in the state. Now, the tribe has been forced to stop taking bets on its Hard Rock sportsbook app. ESPN gaming writer David Purdum joins Cheddar News' Closing Bell to discuss what this could mean for the future of sports betting in Florida.
Lance Ippolito, Head Trader at the Future Of Wealth, joins Cheddar News' Closing Bell where he discusses the factors that have contributed to the recent slide of major cryptocurrencies like Bitcoin and Ether.
Web3 software startup Thirdweb has raised $5 million in a funding round, coming from a group of high-profile investors, including Gary Vaynerchuk and Mark Cuban. Thirdweb says it is paving the way for the revolution surrounding the new iteration of the internet known as web3, by offering users free tools to build their own web3 projects. Thirdweb's co-founders Steven Bartlett and Furqan Rydhan join Cheddar News' Closing Bell to discuss.
Decentralized talent network Braintrust recently closed an atypical equity deal that involved investors buying $100 million in Braintrust tokens, the company's cryptocurrency. Braintrust's talent network is built on blockchain technology, which the company says allows it to be owned and built by users, instead of a centrally-controlled corporation. Braintrust users can also earn tokens for their contributions to the network and its growth. Braintrust co-founder Adam Jackson joins Cheddar News' Closing Bell to discuss.
Blue Origin launched its third manned mission over the weekend with 'Good Morning America' host Michael Strahan and Laura Shepard Churchley, daughter of astronaut Alan Shepard on board, alongside several Blue Origin investors.
This comes after the spaceflight firm launched two successful missions to the edge of space earlier this year. How will these missions set up Blue Origin for success as it competes with SpaceX and other companies for space tourism domination and more? Joey Roulette, space reporter at The New York Times, joins Cheddar News' Closing Bell to discuss.
Editorial and stock photo provider Getty Images is gearing up to make its public debut via a SPAC merger with CC Neuberger Principal Holdings II bringing it to a $4.8 billion valuation. CEO Craig Peters joined Cheddar to break down the decision to go public and noted that the merger will help to pay down debt. "That's going to really enable a lot of additional free cash flow and financial flexibility into the business," he noted. "That's just going to allow us to just invest more aggressively into the business to accelerate what is already accelerating growth." Peters also discussed the legacy image platform's place going forward in the expanding world of digital assets like NFTs and the metaverse.
Headspace Health has just launched the 'Headspace for Teens' social impact initiative, which will offer free access to the Headspace app for all teens ages 13 - 18 in America. Alice Nathoo, head of social impact at Headspace joins Cheddar News to talk about the program.
