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U.S. Treasury Secretary cites “serious concerns” about cryptocurrencies, which are a “national security issue”

U.S. Treasury Secretary Steve Mnuchin held a press briefing to discuss cryptocurrency on Monday discussing recent interest in digital assets like Bitcoin and Libra. “Treasury has very serious concerns that “…Libra could be misused by money launderers and terrorist financiers,” Mnuchin said. He called regulating the use of cryptocurrencies “a national security issue” in context […]

By |July 16th, 2019|Regulation|0 Comments

Congress Democrats considering Keep Big Tech Out of Finance Act

Democrats in Congress are considering the Keep Big Tech Out of Finance Act: a bill that would prohibit tech firms from offering banking services; the current text of the bill, which has not yet been introduced, bans affiliation between tech platforms and financial institutions; the bill would likely require Facebook to spin off its Libra […]

By |July 16th, 2019|Regulation|0 Comments

Tether mistakenly minted 5 billion USDT and immediately burned them

Stablecoin Tether accidentally minted and subsequently burned $5B USDT according to Whale Alert; CTO Paolo Ardoino claims a decimal mistake was made during a transfer with crypto exchange Poloniex and Tron; the $5B was burnt almost immediately – Link

By |July 16th, 2019|Regulation|0 Comments

BetterHash: Decentralizing Bitcoin mining with new hashing protocols

📚 Decentralizing Bitcoin mining can happen via BetterHash writes StopAndDecrypt. The BetterHash protocol allows individual miners to run their own node, select transactions, create blocks, and mine them without coercion from mining pools. By jettisoning pool authority numerous exploitations are side stepped:

Certain transactions cannot be blacklisted

Blockchain re-orgs are near impossible

Pools cannot backlog transactions to increase […]

By |July 16th, 2019|Regulation|0 Comments

IRS confirms it trained staff to find crypto wallets

An IRS presentation from early June at the World Bank in Washington D.C. confirms IRS officials have been trained to find and analyze crypto wallets for Bitcoin – Link

By |July 16th, 2019|Regulation|0 Comments

Crypto broker Prasos wins EU payment institution license

Finnish crypto broker Prasos has become the third holder of a Payment Institution License (PIL) in the EU following the Finnish Financial Supervisory Authority’s (FSA) awarding; the broker has been seeking the fiat service for the past 1.5 years – Link

By |July 16th, 2019|Regulation|0 Comments

Hacked crypto exchange Bitpoint discovers more millions are missing

Japanese crypto exchange Bitpoint says another $2.3M were found to be missing following a $30M hack last week; the extra losses came from other exchange’s using Bitpoint’s trading system – Link

By |July 16th, 2019|Regulation|0 Comments

UK Royal Mint to provide custody for new cryptocurrency

1,100-year-old UK Royal Mint will help custodian a new crypto, Temtem (TEM), set to launch July 17th; a zero-fee P2P crypto focused on transaction speed, the UK Royal Mint will hold the private keys to Temtem in its vault – Link

By |July 16th, 2019|Regulation|0 Comments

Switzerland’s financial regulator to oversee Facebook’s Libra

Facebook Head of Calibra David Marcus says the company is in talks with Switzerland’s financial regulator to oversee Facebook’s planned cryptocurrency, Libra; the Libra Association is headquartered in the country; the statement is included in Marcus’ prepared testimony for a Tuesday hearing with the US Senate Banking Committee – Link

By |July 16th, 2019|Regulation|0 Comments

Litecoin named Miami Dolphins official cryptocurrency

The Litecoin Foundation has teamed up with the Miami Dolphins to become the first official cryptocurrency of an NFL team; Litecoin and Bitcoin will now be accepted at home games 50/50 raffle; Aliant Payments will be facilitating transactions – Link

By |July 13th, 2019|Adoption|0 Comments

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