Cryptocurrencies

In Response to Bitcoin, Central Bank of Brazil Presents Instant Payment System Pix

</header> <strong>Banco Central do Brasil has started testing a new payment network with the promise to offer Brazilians near instant transactions and many new services. Portrayed as a response to Bitcoin, the Pix system will be mandatory for major financial institutions to ensure wide coverage. The project aims to limit the use of paper money …

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The Future of Crypto: The Latest Cryptography Advances Set to Change Blockchain

Cryptocurrencies could not exist without cryptography. Advances in this field can have far-reaching impacts on blockchain technology and its potential. We will examine the opinions of industry experts on the latest cryptographic advances and their potential for cryptocurrencies. Zero knowledge proofs: more than just privacy Director of research at blockchain firm Blockstream and mathematician Andrew …

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Dutch Authorities Arrest Two Men for Alleged Crypto Money Laundering

The Dutch Fiscal Intelligence and Investigation Service (FIOD) has arrested two men for allegedly laundering money with cryptocurrencies. According to a statement released by the International Revenue Service on Feb. 18, the two men were arrested on Feb. 17 in connection to two separate criminal investigations into money laundering using cryptocurrencies. Both investigations were led …

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Bitcoin Superstar and Bitcoin Era – The Latest Two Faces of the Same Scam

</header> <strong>With the rising price and popularity of bitcoin come numerous scams. Bitcoin Superstar and Bitcoin Era are two investment schemes that have recently gained much attention. News.Bitcoin.com took a look at them, and it did not take much to spot how similar they are to each other and several other well-known scams.</strong> Also read: …

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EU Can’t Decide What to do with Libra

Governments around the world are facing hard choices when it comes to cryptocurrency: overregulate it and risk losing the benefits to the economy, or do nothing and make themselves vulnerable to those who step up. Currently, the European Union can’t figure out what to do about Libra, the digital currency set to be released by …

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Boerse Stuttgart: New German Crypto Regulation Poised to Attract Institutional Investors

</header> <strong>Since the new German crypto regulation went into effect, financial institutions in Germany have been preparing to offer crypto custody services. Among them is Boerse Stuttgart, the country’s second-largest stock exchange. Having obtained a provisional license from BaFin, the regulator in charge of licensing crypto service providers, Boerse Stuttgart is preparing to offer crypto …

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Gemcoin Founder Admits to Fraud in $147 Million Scheme

Steve Chen, the mastermind behind the $147 million Gemcoin cryptocurrency scheme, has admitted to wire fraud and tax evasion in a plea agreement. The 62-year-old Southern California resident agreed that he and other co-conspirators fraudulently promoted a cryptocurrency called Gemcoin (or Gem Coins) that helped fleece $147 million from 70,000 victims. Chen, also known as …

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Korean ICO Contents Protocol Shuts Down, Will Return $7.5M to Holders

The South Korean initial coin offering project Contents Protocol will return 26,877 Ether (ETH) ($7.5 million at press time) to holders of its CPT token. Both legal obstacles and business challenges were cited as reasons for the shutdown. The details are visible on the project’s modified homepage, first recorded on Feb. 19. Its public ICO …

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Mike Bloomberg’s 2020 Finance Policy Proposes Strict Bitcoin Regulations

</header> <strong>The 2020 U.S. Presidential candidate Michael Bloomberg addressed the subject of cryptocurrencies and initial coin offerings (ICO) in his recently published Financial Reform Policy. Bloomberg wants more “regulatory oversight” when it comes to this promising technology, claiming he sees “plenty of hype, fraud and criminal activity.” </strong> Also read: Bitcoin, Tesla Stock, Tron: How …

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Decentralized Lending Protocol bZx Hacked Twice in a Matter of Days

Decentralized finance (DeFi) proponents are taking a hard hit after decentralized lending protocol bZx saw two successful hacks just days apart with losses totalling around $954,000. According to bZx’s report, the protocol was compromised for the first time on Feb. 14, when the team was at the ETHDenver industry event. The second attack, according to …

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