Monthly Archives: January 2020

EU Countries Commence Crypto Regulations as Mandated by New Directive

The European Union’s 5th Anti-Money Laundering Directive mandates that member states start regulating crypto assets by Jan. 10. Crypto exchanges and custodial wallet providers are now covered by the same regulatory requirements as banks and other financial institutions. Also read: Regs Roundup: SEC Actions, Crypto Tax-Free in Korea, New Chinese Laws EU’s Regulatory Deadline: Jan. 10 The 5th Anti-Money Laundering Directive (AMLD5), which amends the 4th Anti-Money Laundering Directive, extends the EU’s anti-money laundering and counter-terrorism financial rules to virtual currencies. The amendment was published in the […]

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Hacker Group Lazarus Uses Fake Exchanges, Telegram Groups in Latest Malware Attacks

A new report shows that North Korea-linked Lazarus Group has adapted and evolved new techniques since initial attacks, and are using phony trading platforms linking to Telegram channels which distribute malware, as well as making their malware more stealthy by “adding an authentication mechanism in the macOS,” amongst other tactics. Since the group’s infamous previous campaign, ‘Operation Applejeus,’ victims have continued to lose bitcoin to the scams, and the report helps identify ways users can avoid falling prey to the traps. Also Read: Problems Escalate in Venezuela […]

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Blockchain-Powered App Helps Mongolian Herders Trace Cashmere

Startup creates blockchain-powered mobile app to track and certify sustainably produced cashmere from Mongolia. Toronto-based startup Convergence.tech has successfully concluded a blockchain-based pilot to help Mongolian nomadic herders track and certify sustainable cashmere. The supply chain project, which was conducted with the United Nations Development Program (UNDP), is powered by Convergence.tech’s Ethereum-based traceability platform, Backbone. Convergence.tech chose to focus on cashmere herders for its pilot, as many of these individuals face harsh working conditions and income instability. Moreover, the fashion supply chain lacks transparency, making it difficult […]

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New Data Suggests Bitcoin and Gold Aren’t as Correlated as You Think

Bitcoin price increased amid rising tensions in the Middle East earlier this week but is BTC’s recent correlation to gold price supported by the data? Bitcoin’s (BTC) classification has been a controversial and difficult topic for crypto-enthusiasts, investors, and regulators to reach a consensus on. The digital asset has been compared to a currency, a commodity, an investment asset or even said to have no underlying value. However, from the perspective of regulators, Bitcoin has been mostly associated and studied as a commodity, especially in relation to […]

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Experienced Traders Prefer to Trade on Desktop Computers, New Study Reveals

A new survey conducted among 800+ traders reveals that the majority of crypto traders love the simplicity of trading on desktop computers. Cryptocurrency exchanges are used by cryptocurrency holders to store their crypto assets or to trade cryptocurrencies. There are hundreds of exchanges available today, and it can be difficult for cryptocurrency holders to choose which exchange best suits their needs. In fact, most traders use more than one exchange — both to hedge risk and to minimize benefits. How do traders make their decisions? Below, you’ll […]

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Bitfinex Market Manipulation Lawsuit Refiled in New York and Joined by Second Case

A class-action lawsuit against Bitfinex and Tether was refiled in New York on Jan. 8, just one day before a similar filing by another plaintiff. An Oct. 10 class-action lawsuit filed against iFinex Inc., the parent company of Bitfinex and Tether, was refiled on Jan. 8 in New York’s Southern District. The lawsuit by Young et al. was followed on the next day by a similar class-action filing by Bryan Faubus. The original lawsuit alleges that iFinex manipulated the cryptocurrency market in 2017 by issuing unbacked Tether […]

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