possession

Money is Power

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Time Stamp: September 10, 2022 4:32 AM - Modified On: September 10, 2022 - Published By:
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Republished By Plato

The politician Benjamin Disraeli once said, “Money is power, and rare are the heads that can withstand the possession of great power.” Understanding that powerful nations have the ability to control world events through monetary policy helps to explain why regulators take such a strong interest in stablecoins. As we explained earlier this week the present strength of the US Dollar is due to the fact that over 80% of world trade has to be settled using dollars and there’s currently a shortage of dollars. This places the US in

Powers On… Don’t worry, Bitcoin’s adoption will not be stopped

Source Node: https://cointelegraph.com/magazine/2021/09/30/powers-on-bitcoins-adoption-will-not-be-stopped
Time Stamp: September 30, 2021 9:08 AM - Modified On: September 30, 2021 - Published By:
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In a series of  recent interviews and speeches, United States Securities and Exchange Commission Chairman Gary Gensler has called the cryptocurrencies market the “Wild West” due to its unregulated and allegedly fraud-filled atmosphere, predicting that the coins were doomed to fail. Powers On… is a monthly opinion column from Marc Powers, who spent much of his 40-year legal career working with complex securities-related cases in the United States after a stint with the SEC. He is now an adjunct professor at Florida International University College of Law, where he teaches

Massive Ledger Data Leak Increases SIM Swapping Threat

Source Node: https://beincrypto.com/massive-ledger-data-leak-increases-sim-swapping-threat/
Time Stamp: December 21, 2020 2:10 AM - Modified On: May 21, 2021 - Published By:
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Republished By Plato

Hardware wallet manufacturer Ledger has suffered another massive data breach for the second time this year. The exposure of thousands of clients’ personal information has increased the threat of SIM swapping as an attack vector. For the second time this year, personal data from Ledger wallet buyers has been dumped online. The leak was posted by several members of the crypto community who found files allegedly containing the ‘full database’ of Ledger customers containing emails, phone numbers, and even physical addresses. Ledger Data Leaked (Again) Ledger played down the data

Questions Remain Around The OCC Decision To Allow Banks To Custody Crypto

Source Node: https://bitcoinmagazine.com/articles/questions-remain-around-the-occ-decision-to-allow-banks-to-custody-crypto?utm_source=rss&utm_medium=rss&utm_campaign=questions-remain-around-the-occ-decision-to-allow-banks-to-custody-crypto
Time Stamp: August 18, 2020 1:26 PM - Modified On: May 21, 2021 - Published By:
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Republished By Plato

The recent Comptroller of the Currency (OCC) ruling that national banks and savings associations can provide cryptocurrency custody services to clients is one of the biggest milestones in the short but spectacular lifetime of digital currencies. Now that U.S. banks have the green light to begin custodying crypto, everybody knows that the rules have changed — we just don’t yet know exactly how.  As the dust begins to settle, there are a number of important questions we need to ask. What is the thinking behind the OCC’s letter? Why now? And

Bitcoin Proceeds of COVID-19 Business Support Scheme Fraud Seized

Source Node: https://cointelegraph.com/news/bitcoin-proceeds-of-covid-19-business-support-scheme-fraud-seized
Time Stamp: August 14, 2020 7:39 AM - Modified On: May 21, 2021 - Published By:
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A U.K. woman has been arrested in possession of £115,000 ($150,000) of Bitcoin (BTC), according to a Metropolitan Police report. The cryptocurrency is alleged to be the proceeds of a fraudulent scheme applying for government loans designed to assist small businesses in the wake of the coronavirus pandemic.The 35-year-old woman was arrested on suspicion of fraud, money laundering and child neglect, following the search of a residential address in Ipswich, United Kingdom on Aug 12. Officers successfully applied for the detention of the Bitcoin held in the suspect’s cryptocurrency wallet

Ransomware Attacks Demanding Crypto Are Unfortunately Here to Stay

Source Node: https://cointelegraph.com/news/ransomware-attacks-demanding-crypto-are-unfortunately-here-to-stay
Time Stamp: August 8, 2020 3:00 AM - Modified On: May 21, 2021 - Published By:
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Year after year, the ransomware landscape changes dramatically. In 2019, a new resurgence of attacks occurred as businesses and government institutions became the main targets of ransomware, given their capacity to yield larger payouts. The most recent attack was against Garmin, a navigation systems company, on July 23. Due to the attack, many of its online services such as customer support, website functions and company communications were affected. Reportedly, the Russian cybergang Evil Corp launched the attack, demanding $10 million in cryptocurrency to restore access to Garmin’s services. Overall, according to a

Bitcoin is not Completely Banned in China: Beijing Arbitration Commission

Source Node: https://cryptopotato.com/bitcoin-is-not-completely-banned-in-china-beijing-arbitration-commission/
Time Stamp: August 1, 2020 11:04 AM - Modified On: May 21, 2021 - Published By:
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China has no reservation against ‘Bitcoin activities as virtual commodities,’ the Beijing Arbitration Commission (BAC) said in a report today. The report also added that the country’s laws and regulations ‘do not prohibit’ private possession and legal circulation of BTC.Bitcoin Is Not A Currency, But A ‘Virtual Commodity’Today local non-profit arbitration organization, the Beijing Arbitration Commission, pointed out in a report that Bitcoin cannot be used as a currency. It is not a legal tender and is not issued by China’s apex monetary authority.Overall, BTC doesn’t share the same legal

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