blockchain

Silver Lake’s Glenn Hutchins debunks misconception surrounding illegal Bitcoin usage

The use of cryptocurrencies for illegal activities have been a common activity used by Bitcoin critics to justify their stances on the impact of Bitcoin as a tool that is largely fueling the rate of cyber-crime on a global scale. The Bitcoin community in its usual fashion is always quick to refute these claims with […] …

blockchain

Chainalysis: Crypto ransomware attacks rose by 311% in 2020

TL;DR Breakdown Illicit transactions with crypto dropped to 0.3 percent in 2020. However, there is a spike in the number of ransomware attacks. The growth of the cryptocurrency industry has been an attractive factor for cyber-criminals. The market was threatened with several fraudulent investment schemes and hackers over the past years, causing a setback for […] …

US Treasury Secretary Nominee Yellen: Crypto Can Improve The Financial System

​Janet Yellen, President Joe Biden’s U.S. Treasury Secretary nominee, seems to have balanced her statements about Bitcoin and crypto, after her previous negative rhetoric about the emerging technology. Janet Yellen Acknowledges Crypto’s Benefits In a written response to the U.S. Senate Finance Committee on Thursday (Jan. 21, 2021), Yellen stated that cryptocurrencies had benefits that […] …

blockchain

Criminal Activity Related To Crypto Transactions Fell by 83% in 2020 – New Chainalysis Report

2020 was a good year for the crypto market, especially the second half of the year despite the pandemic. Bitcoin and other digital assets recovered from the spectacular crash on Black Thursday to set new records and usher in a new era of institutional investments in the crypto market. Between the March 12 crash of […] …

blockchain

US legislator reintroduces crypto crime bill

TL;DR Breakdown Ted Budd reintroduces crypto crime bill Ted bill comes in wake of capitol invasion Towards putting an end to terrorist use of cryptocurrencies, Ted Budd, a US legislator, has reintroduced his Financial Technology Protection Act. The US legislator back in February 2018 and January 2019 introduced the bill as the house passed it […] …

blockchain

Breaking: Right-Wing Activists Received Large Bitcoin (BTC) Donations Before U.S. Capitol Riots

Just as the U.S. Congress lawmakers are working on impeachment proceedings on U.S. President Donald Trump, there’s a sensational revelation coming about last week’s riots that took place in the U.S. Capitol. As per an exclusive Yahoo News report, right-wing activists received payments in Bitcoin (BTC) a month before from foreign accounts. FBI’s retired assistant director
The post Breaking: Right-Wing Activists Received Large Bitcoin (BTC) Donations Before U.S. Capitol Riots appeared first on Coingape. …

blockchain

BitMEX adopts Chainalysis KYT to screen illicit crypto transaction

TL;DR Breakdown: BitMEX has integrated Chainalysis KYT to boost illicit transaction screening. This is meant to raise the exchange’s compliance program. Having been charged by the United States regulators for facilitating money laundering with digital currencies, among others, BitMEX exchange is apparently taking the issue of security more strictly. Following a blog post on Tuesday, […] …