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Showing posts from January, 2018

Ukraine’s Cyberpolice Supports Legalization of Cryptocurrencies

The cybercrime combating department of Ukrainian Police has voiced support for the legalization of cryptocurrencies despite sharing some concerns about them. The Cyberpolice unit also noted the need to regulate cryptos “as soon as possible”. Ukrainian parliament is yet to adopt new legislation amid mounting calls from other institutions to regulate cryptocurrencies.   Also read: Russia’s Longest-Serving Finance Minister Backs Crypto “Self-Regulation” Legalize it or Ban it It is necessary to regulate at legislative level all matters pertaining to the use of cryptocurrencies, Sergei Demedyuk, head of the Cyberpolice department , said in a statement quoted by local media. In his opinion, regulations should be adopted as soon as possible. He also pointed to the need to amend the law in order to tax crypto related transactions. The rules of operating cryptocurrency exchanges have to be determined, too, he insisted. If authorities are unable to regulate the status of cryptos in the ne
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Hawaii’s New Money Transmitters Act Will Require Virtual Currency Licenses

The state of Hawaii is planning to regulate the use of bitcoin and digital currencies that would require licensure to transmit cryptocurrency-based funds. Two bills introduced by a group of partisan Hawaiian lawmakers are focused on digital currencies as a monetary instrument under the state’s Money Transmitters Act. Also read:  Coinbase Exits as Hawaii Requires Bitcoin Companies to Hold Fiat Reserves New Definitions Applied to the Hawaiian Money Transmission Act Last week Hawaiian bureaucrats reviewed a proposed bill, HI SB3082 , that aims to tether regulatory policies to digital currency transmitters. The proposed law adds new definitions like “virtual currency exchanges, transfers, and storage.” The bill will apply to anyone credited with virtual currencies, moving them, relinquishing control, and any use tied to a medium of exchange if passed. The laws will recognize bitcoin as a “permissible investment and statutory trust.” Although, if the statutes does pass, anyone who plans
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South Korean Court Rules Bitcoin Has Economic Value

A South Korean court has ruled that bitcoin has an economic value for the first time. This overturned an earlier court ruling which did not recognize the digital currency. The case involves the confiscation of 191 bitcoins. Also read:   Japan’s DMM Bitcoin Exchange Opens for Business With 7 Cryptocurrencies Bitcoin’s Status Re-Examined The Suwon District Court in South Korea has, for the first time, recognized that bitcoin has an economic value and can be confiscated, local media reported on Tuesday. The ruling concerns the case involving Ahn who was arrested in May of last year and convicted of operating an illegal pornography site with approximately 1.2 million members. Ahn pocketed 1.9 billion won (~USD$1.78 million) in membership fees. While arresting him, the Southern Gyeonggi Provincial Police Agency confiscated his 216 bitcoins from an online wallet which received some fees from the site. In September of last year, the court did not recognize bitcoin and ruled that it coul
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PR: BCShop.io Aids Ethereum Business Adoption

This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material. Bitcoin.com does not endorse nor support this product/service. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the press release. Blockchain revolution is happening. Sure, we are in first days yet, in “stone age” of cryptocurrency. Nevertheless, practical business solutions are already emerging. One of the most known and functional is Ethereum blockchain. Ethereum not only enables online payments; it is also capable of running any decentralized application’s programming code. As such, it can greatly help businesses by making transactions more efficient. Here are some of the ways it does so: Ethereum ensures data security and accuracy Ethereum keeps business transactions secure as they are encrypted and employed in a closed peer-to-peer system. This ensures that they are protected from fraud, theft, and priva
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Number of People Looking for Crypto-Careers Increased 10-Fold in 2017

New data from the UK shows that interest in crypto careers more than doubled in December 2017 when the all time high Bitcoin price record dominated headlines​. The average salary for roles requiring “Blockchain” expertise ranges from £30,117 per year for a Research Analyst to £67,209 per year for a Software Architect. Also Read: Vegetables on a Blockchain ICO Exit Scams After Paying People to Write On Their Bodies Interest in Crypto Careers is Surging The massive rise in the price of bitcoin last year has inspired droves of people in the UK to look for new careers in the crypto sector, this according to figures released today by the dedicated search engine for job listings, Indeed. The company says that its data reveals that at the start of 2017 there was “an acute talent mismatch”, with vacancies outnumbering candidates four to one. However by the end of the year the number of those searching for roles had increased 10-fold. During the same period, the number of available jobs t
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South Korea Finds Nearly $600 Million in Crypto Crime

Reports from the 대한민국 Republic of South Korea (ROK) indicate its Customs Service announced on Wednesday, 31 January 2018, it has discovered “cryptocurrency crimes” which amount to nearly 600 million USD. Also read:   Nassim Nicholas Taleb vs David Birch on The Bitcoin Standard South Korea Customs Service Finds Almost $600 Million in Cryptocurrency Crime ROK Customs Service released a statement claiming to have “uncovered cryptocurrency crimes worth 637.5 billion won ($594.35 million),” according to Reuters . Evidently, it includes illegal foreign exchange trading, a statement released by the country’s customs service said on Wednesday. Korean Customs Service’s ( KCS ) charter includes keeping “our society safer from illegal foreign transactions,” its website notes. Reporting on the incidents mention South Korean investors gobbling up almost 2 billion won in cryptocurrencies. Supposedly tokens and coins were then sent abroad through “virtual wallets,” only to be brought back in th
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PR: All Crypto – Friendly Venues Are Finally Listed in One App – CryptoFind

This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material. Bitcoin.com does not endorse nor support this product/service. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the press release. CryptoFind App by GRAFT Blockchain discovers nearby venues that accept cryptocurrencies as payment. Basically, it’s a self-spreading network, linking crypto-savvy buyers and merchants. For the very first time, all businesses that accept crypto will be listed and curated on one global map. While CryptoFind is made by GRAFT Blockchain, it’s not exclusive to GRAFT-enabled locations. It maps venues that accept any cryptocurrency via different methods (Mobile PoS, Wallet to Wallet, Partner Credit Card Terminals). CryptoFind is mutually beneficial for users and merchants. Users earn rewards by persuading businesses to accept cryptocurrencies and enlist in the app, while merchants expand
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Deep Web Roundup: Dream Adds Monero and Bitcoin Tumbler “Chip Mixer” Launches

The darknet has been quiet of late, which is the way it’s meant to be. No news means no mega busts, honeypots, or mass market shutdowns. Even when it’s out of the spotlight though, the deep web is quietly making news, whether trialling the latest privacy coins or the newest coin mixers that promise to restore a little of the privacy that’s being stripped away from bitcoin users on a daily basis. Also read: U.S. Agency ICE Conducts Investigations That Exploit Blockchain Activity The Battle for Privacy Heats Up Privacy is all relative, but of late there’s been relatively little privacy to be enjoyed by bitcoin users. Blockchain monitoring software is becoming more sophisticated and more common, with U.S. law enforcement agencies using it to profile and hunt down deep web users. Chip Mixer is a relatively new bitcoin tumbler that’s designed to restore some of that privacy. Available on both the clearnet and darknet, the service uses a variety of techniques to obfuscate blockchain m
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U.S. Regulators Send Tether and Bitfinex Subpoenas

There’s been a lot of discussion and controversy surrounding Tether (USDT) a digital asset that claims to be backed by the U.S. dollar. Now according to reports, the U.S. Commodity Futures Trading Commission has subpoenaed the cryptocurrency exchange Bitfinex and the company Tether for unknown reasons. Also Read: Analyst: IOTA Sharply Overvalued Due to “Overwhelming Evidence of Serious Flaws” The CFTC Sends Bitfinex and Tether a Subpoena A lot of skeptics believe that the digital currency Tether USDT is not backed by the U.S. dollar and may have pumped the entire cryptocurrency economy during 2017’s phenomenal year. Just recently news.Bitcoin.com reported on Tether severing ties with its auditor, so cryptocurrency enthusiasts are still left in the dark regarding USDT’s so-called backing. Tether has still not proven that it holds $2.3 billion USD in reserves. Now according to the financial publication Bloomberg the CFTC had sent subpoenas to both Tether and Bitfinex on December
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PR: ETicket4 Launch Its Pre ICO and Offers Qualitatively New Dimensions in the Ticket Industry

This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material. Bitcoin.com does not endorse nor support this product/service. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the press release. Today, January 30, the international p2p-platform Eticket4, with which you can buy tickets in the secondary market for any event, announces the launch of Pre ICO. During crowd sale, which will last till February 21st, utilities-tokens ET4 will be on sale. ET4 tokens will allow their owners to get a number of advantages when buying or selling tickets through the ETicket4 platform. Thus, with the ET4 token, customers will be able to receive discounts up to 100% of the ticket price, and sellers will have access to the extended functionality of the analytical cabinet. So, when, for example, tickets for the football World Cup are paid with tokens, the buyer receives a 20% cashback, while
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Coincheck to Repay Hack Victims’ XEM Balances at 81 U.S. Cents Each

Major Japanese cryptocurrency exchange Coincheck has announced that it will reimburse the accounts of the 260,000 customers who lost XEM tokens in a recent hack at a rate of roughly 81 U.S. cents per unit. As of this writing, XEM is trading for approximately 89 U.S. cents, having recovered slightly from its dip in the wake of the hack. The announcement comes amid concerns expressed by Japan’s Financial Services Agency (FSA) that it is uncertain as to whether Coincheck possesses sufficient funds in order to conduct the reimbursement. Also Read:  J apanese Crypto Exchanges Strengthen Self-Regulation Following Coincheck Hack Coincheck Announces Reparations Policy On the 26th of January, a total of 523,000,000 XEM was “illicitly transfer[ed]” following a hack sustained by Coincheck. The exchange has announced that the approximately 260,000 affected users “will be repaid in JPY via Coincheck Wallet” at a rate of “88.549 JPY” for each coin held (approximately 81 US cents each). The pri
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Samsung Enters the Bitcoin Mining ASIC Manufacturing Business

Korean electronics giant Samsung is the latest chip manufacturer to enter the bitcoin mining hardware market. The company’s foundry has reportedly already began producing ASIC chips for a Chinese client earlier this month. Also Read: Vegetables on a Blockchain ICO Exit Scams After Paying People to Write On Their Bodies Samsung Bitcoin Chips Samsung Electronics (KRX: 005930), the flagship company of the Korea-based multinational conglomerate Samsung Group, has entered the bitcoin mining business according to reports from the country. It has earlier signed a contract with a Chinese bitcoin mining hardware maker to supply it with chips, and already started mass production in January. According to the reports Samsung Electronics completed the process for the development of semiconductor ASIC (Application Specific Integrated Circuit) for bitcoin mining last year. A Samsung Electronics spokesperson told Korea’s The Bell that, “We are in the middle of a foundry business that is being s
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Europol and Interpol to Increase Measures Against BTC Laundering and Terrorism Financing

A two-day workshop involving over sixty financial investigators in Basel, Switzerland has seen Europol and Interpol agree upon a range of measures designed to ramp up efforts to combat the use of cryptocurrencies for money laundering and terrorist financing purposes. The event saw attendance from over 60 international financial investigators. Also Read:   New Research: Laundering of Illicit Funds Less than 1% of Bitcoin Transactions Financial Investigators Discuss Cryptocurrency Regulations The recent workshop was hosted by the Basel Institute on Governance and organized in partnership with Europol and Interpol. The event saw attendance from more than sixty “financial investigators from money laundering, cybercrime and financial intelligence units from 32 different countries”, in addition to “relevant private sector representatives.” The workshop has produced agreements between attending institutions designed to reduce the “misuse of cryptocurrencies by criminals and terrorist fin
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