Monthly Archives: May 2019

Australian Civil Servant Caught Mining Crypto With Government Hardware

The Australian Federal Police (AFP) has charged a government employee alleged to have misused government IT infrastructure for personal cryptomining operations, per a press release. In the release, the AFP states that the unnamed 33-year-old man is an IT contractor with the Australian government, who took advantage of his access to “manipulate programs to use the processing power of the agency’s computer network for cryptocurrency mining.” For his effort, the report claims he earned AU$9,000 (around $6,200) from the mining operation. He was subsequently charged for the […]

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Europol Shuts Down $200 Million Crypto Mixing Service Bestmixer

A Dutch investigation agency and Europol have shut down a $200 million crypto tumbler for being involved in money laundering. Dutch, Luxembourg authorities and Europol have shut down one of the three largest cryptocurrency tumblers, Europol reported on May 22. A cryptocurrency tumbler, also known as a cryptocurrency mixing service, is an anonymity tool that claims to transform transactions of non-private coins to private ones by mixing crypto funds with others, which makes it difficult to track the funds’ original source. According to the report, the Dutch […]

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Four Banks Successfully Test New Blockchain Platform for Processing Promissory Note Loans

Following a successful pilot transaction on the new blockchain platform finledger, there are plans to roll out the tech to the entire industry. A group of four banks have successfully issued a promissory note — a type of legally binding loan agreement — through a new blockchain platform, a news release on May 21 announced. The financial institutions used finledger to complete the transaction. According to Helaba, one of the banks involved, the platform reduces the steps involved with issuing such a note by more than 50%. As well as […]

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Upcoming Supply Cut Will See Bitcoin Prices Rise Further, Brian Kelly Predicts

Crypto analyst Brian Kelly believes bitcoin prices are going to rise as increasing demand competes with diminished supplies. An upcoming supply cut could help bitcoin (BTC) prices rise further in the coming months, crypto fund manager Brian Kelly told CNBC on May 21. Speaking to the Fast Money program, he explained that “the halvening,” next due to take place in 2020, will see mining rewards cut in half. With many miners now hoarding BTC, Kelly predicted that prices will rise as increased demand — tied to increasing industrial adoption and retail uses — […]

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Ripple Escrow Reporting: Creative Accounting or Much Ado About Nothing?

Blockchain analysis firm Coin Metrics points to discrepancies in Ripple’s escrow accounting. Is there a basis to the claim? On May 16, 2019, Coin Metrics released a report detailing discrepancies in Ripple’s escrow reporting system. The Blockchain analysis firm described these discrepancies as contradictions that required some explanation. As per usual, any story concerning Ripple is going to come in for some polarizing viewpoints, with strong opinions on both sides of the matter. On the one hand, Ripple says the discrepancies aren’t so much a financial issue […]

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Central Bank of Russia Expects Crypto Draft Bill to Be Adopted in Spring 2019

The first deputy governor of the Russian central bank said that the bank expects the local crypto bill to be adopted in the spring session. The central bank of Russia believes that the draft bill on crypto regulation is prepared enough to be adopted in the spring of 2019, local news agency TASS reports on May 22. Olga Skorobogatova, first deputy governor of the Russian central bank, has stated that the bank expects the crypto bill, “On Digital Financial Assets” (DFA), to be adopted during the spring […]

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Israeli Court Rules Bitcoin Is Not a Currency in Court Case Over Taxes on BTC Gains

The ruling is a setback for crypto entrepreneur Noam Copel, who will now have to pay tax on $830,000 in profits he made by selling bitcoin. An Israeli judge has ruled that bitcoin (BTC) is an asset and not a currency, local news site Globes reported on May 21. The judgment is significant because it means profits made by selling the cryptocurrency will now be liable to capital gains tax, Globes notes. Noam Copel, who founded the blockchain startup DAV, had bought BTC in 2011 and sold two years later — making […]

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Bitcoin Falls Under $7,900 as US Stock Market Sees Minor Uptrend

Most of the top 20 cryptocurrencies are reporting moderate losses on the day as bitcoin falls under the $7,900 mark again. Wednesday, May 22 — most of the top 20 cryptocurrencies are reporting moderate losses on the day by press time, as bitcoin (BTC) falls under the $7,900 mark again. Market visualization courtesy of Coin360 Bitcoin is down over .5% on the day, trading at $7,850 at press time, according to CoinMarketCap. Looking at its weekly chart, the coin is down over 1.83%. Bitcoin 7-day price chart. […]

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May to Become Strongest Month for CME’s Bitcoin Futures Trading: Report

The Chicago Mercantile Exchange reportedly said that the scale of bitcoin futures trading has continued to hit new highs in May. CME Group, the second global exchange to list bitcoin (BTC) futures, is about to record the biggest trading month for BTC futures trading, industry news outlet The Block reports May 21. The publication has reportedly cited data from an external email from CME. The Chicago Mercantile Exchange purportedly revealed that the average daily bitcoin futures trading volume hit a new high of 14,000 contracts solely in […]

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The Man Behind Bitcoin Pizza Day Is More Than A Meme: He’s a Mining Pioneer

Bitcoin was barely a year old and trading for less than a penny. Excitement for the world’s first cryptocurrency was still largely bottled up in the infant hobbyist forum Bitcointalk, itself barely half a year old. Here, OGs effervescent with enthusiasm compared notes on economic philosophy, technical knowledge and the new cryptographic beast that Satoshi Nakamoto created. Satoshi himself was still active on the forum, too, as the earliest adopters shared their visions for the future of money. Though, if that future was going to be realized, […]

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