blockchain technology

Slow But Steady: FATF Review Highlights Crypto Exchanges’ Struggle to Meet AML Standards

Source Node: https://cointelegraph.com/news/slow-but-steady-fatf-review-highlights-crypto-exchanges-struggle-to-meet-aml-standards
Time Stamp: August 8, 2020 9:00 AM - Modified On: May 21, 2021 - Published By:
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In June 2019, the intergovernmental Financial Action Task Force (FATF) introduced its revised set of standards for virtual asset service providers. The document establishes the anti-money laundering and counter-terrorism (AML/CFT) requirements that regulated VASPs —  the term mainly referring to cryptocurrency trading platforms — must eventually implement in their day-to-day operations. The guidelines are framed as recommendations, and the FATF leaves it to the participating nations’ governments to develop their own regulations in accordance with suggested principles.The watchdog has also set a 12-month review timeframe to monitor the public and

TikTok Ban: The Beginning of a New Age in Social Networks?

Source Node: https://beincrypto.com/tiktok-ban-the-beginning-of-a-new-age-in-social-networks/
Time Stamp: August 8, 2020 8:28 AM - Modified On: May 21, 2021 - Published By:
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President Donald Trump has signed an executive order that forbids American companies to transact with Tencent and Bytedance. The ban comes after a long debate involving alleged data mining from apps like WeChat and TikTok. Following the ban, Tencent shares fell 5%. American companies will effectively have 45 days to stop transacting with these companies. The ban is sparking worldwide debate regarding the boundaries of national security. Is this an opportunity for decentralized social media platforms to step up? Tencent and the Yuan Plummet The announcement was immediately felt on

Title Token for Blockchain Estate Registry, Part 3

Source Node: https://cointelegraph.com/news/title-token-for-blockchain-estate-registry-part-3
Time Stamp: August 8, 2020 6:00 AM - Modified On: May 21, 2021 - Published By:
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The advantage of the cross-blockchain protocol for public registries is that it can unite any number of existing ledgers in one ecosystem and does not need to upgrade the protocols of such blockchains. In simple terms, the protocol works as an aggregator of tokens across blockchains. The protocol conceptually comprises two major elements:The format requirements for an entry by knowing the standard of a record, the user’s machine can automatically collect records from various ledgers in one bundle.The hook, which is the algorithm that scans blocks of ledgers and extracts

Major South Korean Bank Joins the Crypto Custody Business

Source Node: https://cointelegraph.com/news/major-south-korean-bank-joins-the-crypto-custody-business
Time Stamp: August 7, 2020 10:00 PM - Modified On: May 21, 2021 - Published By:
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KB Kookmin Bank, one of the largest banks in South Korea, has partnered with blockchain venture fund, Hashed, and crypto trading platform, Cumberland Korea, to establish “strategic technology cooperation” on the custody of digital assets.The companies belonging to the partnership state that their inception into the crypto custody business is a response to regulatory changes. These changes encouraged them to look into new business models — specifically ones which rely on blockchain technology.Simon Kim, CEO of the Seoul and San Francisco-based firm, Hashed, stated:"Combining our insight in the blockchain industry

Why Klaytn and Link Will Catalyze Blockchain Adoption in Asia

Source Node: https://bitcoinist.com/why-klaytn-and-link-will-catalyze-blockchain-adoption-in-asia/?utm_source=rss&utm_medium=rss&utm_campaign=why-klaytn-and-link-will-catalyze-blockchain-adoption-in-asia
Time Stamp: August 4, 2020 12:23 PM - Modified On: May 21, 2021 - Published By:
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In the last two years, popular messaging giants in Asia and Europe have announced plans to launch a blockchain-powered cryptocurrency. In Asia, Kakao’s Klaytn and Line’s Link platform have launched and are quickly gaining momentum, but Facebook and Telegram’s cryptocurrencies have not fared so well. Messaging Giants Pushing Blockchain Adoption As it stands, Kakao is by far the most dominant mobile platform in Korea with a market share of 97% in the country. Kakao subsidiary Ground X began development of Klaytn back in 2019, after raising $90 million in both

Crypto As Payment Means Outlawed In Russia After Putin Law Signing

Source Node: https://insidebitcoins.com/news/crypto-as-payment-means-outlawed-in-russia-after-putin-law-signing
Time Stamp: August 1, 2020 9:13 AM - Modified On: May 21, 2021 - Published By:
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Vladimir Putin, the President of Russia, has recently signed a new law. This law will officially prohibit the usage of cryptocurrencies in order to facilitate payment within the country, and will be in effect by 2021. At the same time as this, Russia’s government has recently begun to utilize blockchain technology in order to facilitate its constitutional amendment Crypto Payments Illegal For Russia Come 2021 RIA, a local news outlet, went into detail on Friday about the matter. RIA explained that President Putin’s bill he just signed will see to

Putin Outlaws Crypto as a Payment Means in Russia

Source Node: https://cryptopotato.com/putin-outlaws-crypto-as-a-payment-means-in-russia/
Time Stamp: August 1, 2020 7:10 AM - Modified On: May 21, 2021 - Published By:
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President Vladimir Putin of Russia has signed a new law that will prohibit the use of cryptocurrency as a payment means in the country by 2021. Meanwhile, the Russian government recently deployed blockchain technology for its constitutional amendment.Crypto as Payment to Become Illegal in 2021According to a report by local news outlet RIA on Friday (July 31, 2020), the bill signed by President Putin will prevent citizens from using crypto to pay for goods and services in Russia. The bill will, however, enable transactions via digital financial assets (DFA).Also, government

Will Video Game Crypto Be the Catalyst for Adoption?

Source Node: https://beincrypto.com/will-video-game-crypto-be-the-catalyst-for-adoption/
Time Stamp: August 1, 2020 6:59 AM - Modified On: May 21, 2021 - Published By:
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-More than one-third of humanity will play video games by the end of 2021. -A number of platforms provide blockchain opportunities not found in traditional gaming. -After several years of failures, blockchain adoption may finally be here. The video game industry may be the natural catalyst to bring blockchain technology into the mainstream. Most experiments have failed so far, but is that about to change? After years of trial and error with Bitcoin, some video game platforms are finding a way to exploit distributed ledger technology. Is humanity witnessing the

Blockchair In Blockchain World | Let Us Explore The Explorer In 2020

Source Node: https://www.cryptoknowmics.com/news/blockchair-in-blockchain-world-let-us-explore-the-explorer-in-2020
Time Stamp: August 1, 2020 6:20 AM - Modified On: May 21, 2021 - Published By:
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Table of Contents Rate this post Blockchain technology has the whole new world to explore whether in term of applications, tools, features, compatibility with other technologies and many more. In earlier days, when Bitcoin was launched in 2009, it was considered that Blockchain is meant for the financial system only. But, as the potential of technology was analysed by the various communities, they concluded that Blockchain is meant for exploration. In this article, we will limit our nerves to explore to cryptocurrency. In the crypto marketplace, investors generally keep track