Online Cash Bitcoin Could Challenge Governments, Banks

guest · Mar 16, 2020

Baidu Employee Jailed for Mining Crypto on 200 Company Servers
March 16, 2020
https://www.coindesk.com/baidu-employee-jailed-for-mining-crypto-on-200-company-servers

According to a report from China-focused news site Abacus on Monday, An Bang – a senior engineer working on Baidu’s popular search engine – downloaded monero mining scripts onto around 200 Baidu servers between April and June 2018.

The extra load on the systems, though, was spotted by the company, which made a report to police, resulting in the staffer's arrest. An was ultimately handed down three years' jail time and a fine of 11,000 Chinese yuan ($1,568) in sentencing last month, as per the report.
The case is the latest in a string of instances where employees have succumbed to the ease of access to workplace power or infrastructure to try and make some free crypto, only to fall foul of the law.
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ronjor · Mar 16, 2020

Coinbase Chief Legal Officer Leaves to Take Senior Role at US Bank Regulator

Mar 16, 2020
Coinbase's chief legal officer, Brian Brooks, is leaving the crypto exchange to become the second in command at the U.S. Office of the Comptroller of the Currency (OCC).
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Minimalist · Mar 17, 2020

Gitcoin Teams Up With ETCLabs for Crypto Bounty Payments in ETC

Crypto bounty payment platform Gitcoin announced it has enabled contributor payouts in Ethereum Classic (ETC).

In partnership with Ethereum Classic Labs, bounty seekers now have the option to receive pay in ETC for their work on various open-sourced projects, Ethereum Classic Labs said in a March 16 announcement.
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https://cointelegraph.com/news/gitcoin-teams-up-with-etclabs-for-crypto-bounty-payments-in-etc

guest · Mar 19, 2020

Female Crypto Users Put Bitcoin on Top, Followed by Ethereum: Study
March 18, 2020
https://dailyhodl.com/2020/03/15/female-crypto-users-put-bitcoin-on-top-followed-by-ethereum-study/

A new 10-month study by 2gether, a crypto platform that aims to replace traditional banking, reveals the profile of female cryptocurrency users. The company conducted its survey from April 2019 to February 2020, polling 5,000 female users of the platform from Andorra, Monaco, San Marino and 19 Eurozone countries.

The poll reveals that female traders heavily trade Bitcoin and Ethereum. BTC and ETH represent 64% and 22% of the total trading volume, respectively.
The survey also shows that women account for 23% of all cryptocurrency users, slightly up from a study conducted in 2019 by fintech firm BitPanda, which showed that 22% of crypto holders in Europe were female versus 78% male.
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Minimalist · Mar 20, 2020

Big Brother Capitalizes on Coronavirus Fears, Crypto Industry Responds

Governments are now considering tracking online user data as a way to fight the rapid spread of COVID-19. As a result, the question of personal data privacy is increasingly becoming a subject of discussion within the crypto community.
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https://cointelegraph.com/news/big-brother-capitalizes-on-coronavirus-fears-crypto-industry-responds

Minimalist · Mar 20, 2020

Woman Arrested for Stealing $480,000 From Crypto Exchange She Co-Founded

A woman was arrested in Bengaluru, India on March 17 for allegedly stealing 63.5 Bitcoins (BTC) from Bitcipher Labs — a cryptocurrency exchange that she had previously co-founded.

The thefts took place on January 11 and March 11 respectively, resulting in $480,000 worth of BTC being stolen from Bitcipher.
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https://cointelegraph.com/news/woma...g-480-000-from-crypto-exchange-she-co-founded

Minimalist · Mar 21, 2020

Bitcoin Is Half-Priced ‘Hurricane Insurance,’ Says Crypto Fund Manager

Travis Kling, the chief investment officer of crypto investment firm Ikigai Asset Management, has described Bitcoin (BTC) as insurance against both hurricanes and U.S. fiscal policy.

On March 20, Kling tweeted that an oncoming hurricane that will soon hit the U.S. economy and “do a lot of damage.” However, all is not lost, with Kling advising that the recent crypto market crash has made half-priced hurricane insurance available to all.
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https://cointelegraph.com/news/bitcoin-is-half-priced-hurricane-insurance-says-crypto-fund-manager

Minimalist · Mar 21, 2020

How COVID-19 is impacting the crypto asset industry

No matter where you are in the world, you will be feeling the effect of the COVID-19 pandemic. While the COVID-19 crisis impacts us as individuals, it also profoundly affects industry. Tourism, travel, and manufacturing are among the most hit, but every sector is being impacted by the pandemic. That includes crypto.
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https://bravenewcoin.com/insights/how-covid-19-is-impacting-the-crypto-asset-industry

Minimalist · Mar 21, 2020

Interpol Enlists Korean Startup to Track Crypto on the Dark Web

The International Criminal Police Organisation (Interpol) has announced a partnership with South Korean data intelligence startup, S2W Lab, to analyze dark web activity, including cryptocurrency transactions.

The startup announced the partnership on March 20 — with S2W Labs signing a one year contract with Interpol.
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https://cointelegraph.com/news/interpol-enlists-korean-startup-to-track-crypto-on-the-dark-web

guest · Mar 21, 2020

Blow To Bitcoin As Russia Moves To Effectively Ban Crypto
March 21, 2020
https://www.forbes.com/sites/billyb...in-as-russia-moves-to-effectively-ban-crypto/

Earlier this month, many cheered India's decision to permit banks in the country to trade cryptocurrency—something that was expected to boost the bitcoin price though the market collapsed amid coronavirus-induced panic.

Now, as potential bitcoin buyers are weighing whether to jump back into the market, a senior Russian official has warned its delayed bill on digital assets will include a ban on issuing and selling cryptocurrencies.

"We believe there are big risks of legalizing the operations with the cryptocurrencies, from the standpoint of financial stability, money laundering prevention and consumer protection," Russia's central bank head of legal, Alexey Guznov, told Russia news agency Interfax this week in comments translated to English via Google.
Russia's coming bitcoin and crypto trading ban was seen as all but inevitable by some cryptocurrency regulation experts.

However, Guznov admitted that Russia would not be able to completely ban bitcoin and other cryptocurrencies.
"Nobody is going to ban owning cryptocurrencies,” Guznov said, adding people will not be punished for owning crypto "if they made their deal in a jurisdiction that does not prohibit that."
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guest · Mar 23, 2020

Reserve Bank of Australia Survey: Less than 1% of Australians have used crypto for payments in 2019
March 23, 2020
https://www.fxstreet.com/cryptocurr...used-crypto-for-payments-in-2019-202003240051

The Reserve Bank of Australia (RBA) has revealed that less than one percent of Australian citizens have used cryptocurrencies to make consumer payments in 2019. Though some Australian authorities have recognized crypto as a form of investment, it looks like digital assets like Bitcoin are not popular as a payment method.

This data is based on an RBA study that was conducted in October and November 2019. The survey aimed to find out more information about local payment preferences. It aggregated results from 1,100 participants. The survey showed that Australian consumers are increasingly using electronic payment methods, as per the RBA.
In Australia, though the number of people using crypto for payments is low, the awareness level about the method is quite high.
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Reserve Bank of Australia: Consumer Payment Behaviour in Australia

guest · Mar 24, 2020

SEC’s consideration of settlement with Bitfunder operator takes longer than anticipated
March 24, 2020
https://financefeeds.com/secs-consideration-settlement-bitfunder-operator-takes-longer-anticipated/

About two months have passed since the United States Securities and Exchange Commission (SEC) indicated that its settlement with Jon Montroll, the operator of Bitcoin-related services WeExchange and Bitfunder.com, was getting closer to authorization. The latest filings with the New York Southern District Court, however, show that the SEC’s consideration of the settlement is taking longer than anticipated.

As a result, the SEC proposes updating the Court about the Commission’s consideration of the settlement in principal – or moving for the Court’s approval of that settlement – by no later than April 22, 2020.
Let’s recall that, in a related criminal case, Montroll was sentenced to 14 months in prison and will have to pay restitution of $167,438.
Montroll has pleaded guilty to securities fraud and obstruction of justice for deceiving investors and potential investors of virtual security known as Ukyo. [...]
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guest · Mar 24, 2020

11% of Indonesians Own Crypto According to Hootsuite Digital Innovations Report
March 24, 2020
https://bitcoinexchangeguide.com/11...ding-to-hootsuite-digital-innovations-report/

A recent report on crypto ownership in Indonesia has revealed that around 11% of the country’s population own some form of digital asset. This summary done by Hootsuite obtained data analytic insights from GlobalWebIndex.

According to the stats, Indonesia which has a population of 270 million is the sixth country in crypto uptake as of press date. This basically means that close to 30 million people within this Southeast Asian island own cryptocurrencies. The only five countries ahead of Indonesia in crypto adoption are; Nigeria, Thailand, Philippines, South Africa and Brazil.
It is quite notable that developing economies are integrating digital currencies faster than their developed counterparts.
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Hootsuite report: 11% of Indonesians own crypto

The credibility of the report remains disputed. When the report was discussed on Twitter, some locals said that it’s unlikely that 11% of the Indonesians own crypto.

Indonesian here. The numbers are pretty misleading i think, as they might take 2017 bull run into account for calculating the 11%. In actual, there are so many fake accounts who signed up to the largest crypto exchange back to 2017, just to receive an airdrop. # sud be below 0.5% @DouglasTan30"
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Minimalist · Mar 27, 2020

A Brief Review of 20 Crypto Exchanges for 2020

There are lots of forces responsible for the downturn of global markets that had an unprecedented side effect on the prices of digital assets. It is no longer news that the untamed spread of Covid-19 and OPEC’s oil price crisis have had a devastating impact on the crypto market, with bitcoin, the poster boy of the market, recently shedding over 50% of its value and still recovering.
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https://hackernoon.com/a-brief-review-of-20-crypto-exchanges-for-2020-qodg32pz

Minimalist · Mar 27, 2020

No Evidence of Crypto-Related Charge in Maduro Drug Cases

Several Venezuelan leaders recently came under fire for alleged criminal acts, although, contrary to initial impressions, the situation did not directly involve cryptocurrency usage.

“Maduro and his co-defendants are not alleged to have been involved with crypto, directly,” Ashok Ayyar, counsel at Experience Legal, told Cointelegraph.
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https://cointelegraph.com/news/no-evidence-of-crypto-related-charge-in-maduro-drug-cases

Minimalist · Mar 28, 2020

India Crypto Renaissance: Industry Sees Rebirth as RBI Crypto Ban Lifts

Among industry participants and investors, India is emerging as a market to watch for following the overturn of a crypto ban that was placed by the Reserve Bank of India back in April 2018. The prominent investors looking to get a piece of India’s nascent crypto space include Tim Draper, a billionaire investor who obtained thousands of Bitcoin from 2014’s Silk Road auction.
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https://cointelegraph.com/news/indi...industry-sees-rebirth-as-rbi-crypto-ban-lifts

Minimalist · Mar 28, 2020

No Tax for You: Why Crypto Traders and Miners Might Head to Portugal

Existing outside of the realm of traditional finance and with no central point of authority, digital assets have posed several challenges to governments worldwide. Many nations have struggled with how to define and regulate cryptocurrencies, and there is no uniformity because each country has developed its own unique approach.
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https://cointelegraph.com/news/no-tax-for-you-why-crypto-traders-and-miners-might-head-to-portugal

Minimalist · Mar 28, 2020

Malta Denies Two Crypto Exchanges Have License to Operate

The Malta Financial Services Authority, or MFSA, has issued an alert on March 25 about two crypto exchanges that do not have licenses to operate, nor are they regulated in the country.

COINMALEX and Crypto Foxtrades are the exchanges that the country’s financial watchdog alluded to in the statement, as both companies claimed on their websites that they had the necessary regulations and licenses to operate.
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https://cointelegraph.com/news/malta-denies-two-crypto-exchanges-have-license-to-operate

Minimalist · Mar 29, 2020

Overview of Software Wallets, the Easy Way to Store Crypto

Similar to a bank account for fiat currency, a crypto wallet is a personal interface for a cryptocurrency network that provides reliable storage and enables transactions. Whether a cryptocurrency is securely stored or not, much depends on the wallet, which is only as secure as its private keys.
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https://cointelegraph.com/news/overview-of-software-wallets-the-easy-way-to-store-crypto

Minimalist · Mar 29, 2020

Global Crypto Community Comes Out in Full Force Against Coronavirus

With cases of the deadly coronavirus still popping up at an unprecedented rate around the world, many prominent members of the blockchain and crypto industries have heeded the global cry for help and have swiftly engaged in meaningful action — be it in terms of direct research-related participation, or through the donation of funds or resource materials, such as masks, sanitization equipment, etc.
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https://cointelegraph.com/news/global-crypto-community-comes-out-arms-swinging-against-coronavirus

Minimalist · Mar 29, 2020

What Will Be the Early Privacy Impact of Secure Multiparty Computation?

Currently, one of the most rigorously examined corners of the surging cryptography space, secure multiparty computation, or sMPC, is widely considered a viable solution to many practical situations in the real world. The concept has some promising implications ranging from privacy to scalability and efficiency, and it’s lasting impact lay outside the purview of only blockchain technology.
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https://cointelegraph.com/news/what...ivacy-impact-of-secure-multiparty-computation

Minimalist · Mar 29, 2020

Fake Ledger Chrome Extensions Continue to Steal Crypto From Victims

Fake Google Chrome extensions for crypto hardware wallet manufacturer and custody provider, Ledger, continue to claim victims.
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https://cointelegraph.com/news/fake-ledger-chrome-extensions-continue-to-steal-crypto-from-victims

guest · Mar 31, 2020

Bitcoin thieves use malicious QR code readers to steal $45,000 this month
March 31, 2020
https://hotforsecurity.bitdefender....-readers-to-steal-45000-this-month-22778.html

Payments in cryptocurrency are not limited to extortionists who provide you their Bitcoin (BTC) wallets in their ‘contact info’.

Adapting to the growing popularity, merchants around the world have added payment options that accept bitcoin or other types of cryptocurrency.
Last week, security researcher Harry Denley, exposed nine websites advertising fake Bitcoin-to-QR code generators: [...]

So far, the fake QR code generators have managed to scam victims out of 7 BTC ($45,000). What makes the hoax so puzzling is that cryptocurrency users have the ability to generate a QR code through their wallet, however, they opted to rely on bogus online code generators instead
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Minimalist · Apr 1, 2020

Voting on a blockchain

The "blockchain" concept on which cryptocurrencies work might be extrapolated to many other areas of life, such as voting systems, where it's incontrovertible chain of decisions and evidence could ensure validity in a political or other election.
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https://techxplore.com/news/2020-04-voting-blockchain.html

guest · Apr 4, 2020

Akon Set to Make Major Announcement About “Akoin” Crypto Project at BlockDown 2020
April 4, 2020
https://hypeofflife.com/akon-blockdown-2020-cryptocurrency-conference/

Aside from live-streaming into a panel discussion, the Grammy-Nominated artist and crypto entrepreneur will make a big announcement about his crypto project, Akoin.

Users of Akoin will be able to enjoy a wide array of benefits, like saving money and paying utilities and other users, plus it will give them the power to develop skills on educational applications, apply for jobs, request loans and market goods and services.

“I think that blockchain and crypto could be the savior for Africa in many ways because it brings the power back to the people,” Akon said. “Cryptocurrency and blockchain technology offer a more secure currency that enables people in Africa to advance themselves independent of the government.”
During BlockDown 2020, Akon will be live-streaming into a panel discussion and hosting a digital press conference and providing blockchain projects with the opportunity to pitch the Akoin team their project with the chance of being included in Akoin’s decentralized application ecosystem.
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