Major American cryptocurrency exchange Coinbase has been awarded a patent for a system that identifies and flags non-compliant accounts. Major American cryptocurrency exchange Coinbase has been awarded a patent for a system that identifies and flags non-compliant accounts. A filing with the United States Patent and Trademark Office on Nov. 19 details a system containing […]
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In 2019, the total volume of cryptocurrency-related fraud and theft resulted in losses worth $4.4 billion, according to a recent CipherTrace report. In 2019, the total volume of cryptocurrency-related fraud and theft resulted in losses worth $4.4 billion, according to CipherTrace’s report for the third quarter of 2019. In its “Cryptocurrency Anti-Money Laundering Report, 2019 […]
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Crypto exchanges handle the greatest part of cryptocurrency trades carried out every single day. But how did their security measures change over the years? Bitcoin was designed as a peer-to-peer cryptocurrency, but as the network expanded, there was no way to avoid the growing influence of centralized crypto exchanges. Soon after Bitcoin’s launch, more people […]
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The number of Bitcoin ATMs installed worldwide has reached a new milestone. Coincidentally, regulators start looking to apply more scrutiny. Earlier this week, the number of Bitcoin (BTC) ATMs installed worldwide reached a new milestone, surpassing 6,000. Coincidentally, another major development just a day before occurred within the same area: The United States Internal Revenue […]
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LocalBitcoins continues its path to full regulation with an official license from the Finnish Financial Services Authority. The Finnish Financial Services Authority (FIN-FSA) has officially registered LocalBitcoins as a virtual currency provider, starting at the beginning of November 2019. Finland only allows officially registered providers who fulfill the legal requirements to operate in the country. […]
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While money laundering is noted as a key fear of regulators, the numbers shows fiat currency is still the main choice of criminals. Cryptocurrencies came to life as a counterweight to the global financial restrictions that are powered by banks and regulators through the use of fiat. Therefore, it is fitting that Bitcoin (BTC) broke […]
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Crypto companies will need to comply with FATF regulations by June 2020, but there are still many potential stumbling blocks. For better or for worse, the cryptocurrency space is coming of age. Since Bitcoin’s rise to mainstream prominence in 2015, there has been increasing recognition of digital assets from government agencies around the world. In […]
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The lessons: Make it relevant. Prioritize user experience over perfection. For most blockchain-enabled products and services, achieving mainstream adoption has been a nearly impossible goal. Even the most celebrated projects in the crypto ecosystem struggle to expand their community beyond blockchain-savvy users. Augur, the famous betting protocol whose REP token peaked with a market cap […]
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Just nine months after its launch, the Nasdaq-powered digital trading platform DX.Exchange is temporarily shutting down as it pursues a merger or outright sale. Just nine months after its launch, the Nasdaq–powered digital trading platform DX.Exchange is temporarily shutting down as it pursues a merger or outright sale. The Estonia-based platform made the announcement on […]
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Lawyer Jake Chervinsky raised the question of whether exposing the public to risks with KYC requirements is worth enduring the risks. In the aftermath of the recent BitMEX data leak, lawyer and general counsel at decentralized finance startup Compound Finance Jake Chervinsky raised the question of whether exposing the public to data risks that Know […]
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