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[FULL ANALYSIS] Bitcoin exchanges and payment processors in Canada are now regulated as Money Service Businesses
Hello Bitcoiners! Many of you saw my tweet yesterday about the Bitcoin regulations in Canada. As usual, some journalists decided to write articles about my tweets without asking me for the full context :P Which means there has been a lot of misunderstanding. Particuarly, these regulations mean that we can lower the KYC requirements and no longer require ID documents or bank account connections! We can also increase the daily transaction limit from $3,000 per day to $10,000 per day for unverified accounts. The main difference is that we now have a $1,000 per-transaction limit (instead of per day) and we must report suspicious transactions. It's important to read about our reporting requirements, as it is the main difference since pretty much every exchange was doing KYC anyway. Hopefully you appreciate the transparency, and I'm available for questions! Cheers, Francis ********************************************* Text below is copied from: https://medium.com/bull-bitcoin/bitcoin-exchanges-and-payment-processors-in-canada-are-now-regulated-as-money-service-businesses-1ca820575511
Bitcoin is money, regulated like money
Notice to Canadian Bitcoin users
If you are the user of a Canadian Bitcoin company, be assured that:
These regulations only target virtual currency exchanges and virtual currency transmitters (e.g. payment processors, custodial wallets).
No action on your part is currently required. It is businesses that have to comply, not users.
You may notice that the exchange service you are using has change its transactions limits or is now requiring more information from you. You can stop reading this email now without any consequence! Otherwise, keep regarding if you are interested in my unique insights into this important topic!
Background on regulation
Today marks an important chapter for Bitcoin’s history in Canada: Bitcoin is officially regulated as money (virtual currency) under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act of Canada (PCMLTFA), under the jurisdiction of the Financial Transaction and Reports Analysis Centre of Canada (FINTRAC). This is the culmination of 5 years of effort by numerous Bitcoin Canadian advocates collaborating with the Ministry of Finance, Fintrac and other Canadian government agencies. It is important to note that there is no new Bitcoin law in Canada. In June of 2014, the Governor General of Canada (representing Her Majesty Queen Elizabeth II) gave royal asset to Bill C-31, voted by parliament under Stephen Harper’s Conservative government, which included amendments to the PCMLTFA to included Bitcoin companies (named “dealers in virtual currency”) as a category of Money Service Businesses. Thereafter, FINTRAC engaged in the process of defining what exactly is meant by “dealing in virtual currency” and what particular rules would apply to the businesses in this category. Much of our work was centred around excluding things like non-custodial wallets, nodes, mining and other activities that were not related exchange or payments processing. To give an idea, the other categories that apply to traditional fiat currency businesses are:
Foreign exchange dealing
Remitting or transmitting funds
Issuing or deeming money order or similar negotiable instruments
When we say that Bitcoin is now regulated, what we mean is that these questions have been settled, officially published, and that they are now legally binding. Businesses that are deemed to be “dealing in virtual currency” must register with FINTRAC as a money service business, just like they would if they were doing traditional currency exchange or payment processing. There is no “license” required, which means that you do not need the government’s approval before you can operate a Bitcoin exchange business. However, when you operate a Money Service Business, you must register and comply with the laws… otherwise you risk jail time and large fines.
What activities are regulated as Money Service Business activity?
A virtual currency exchange transaction is defined as: “an exchange, at the request of another person or entity, of virtual currency for funds, funds for virtual currency or one virtual currency for another.” This includes, but is not limited to:
Bitcoin trading platforms (orderbooks)
Bitcoin exchange platforms (fixed-rate)
Selling or buying Bitcoin OTC professionally
Crypto-to-crypto trading (orderbook, fixed-rate or OTC)
Notice to foreign Bitcoin companies with clients in Canada
Regardless of whether or not your business is based in Canada, you must register with FINTRAC as a Foreign Money Service Business, if:
You direct your MSB services at persons or entities in Canada
The regulation of Bitcoin exchange and payment services has always been inevitable. If we want Bitcoin to be considered as money, we must accept that it will be regulated like other monies. Our stance on the regulation issue has always been that Bitcoin exchanges and payment processors should be regulated like fiat currency exchanges and payment processors, no more, no less. This is the outcome we obtained. To comply with these regulations, we are implementing a few changes to our Know-Your-Customer requirement and transaction limits which may paradoxically make your experience using Bull Bitcoin and Bylls even more private and convenient!
The bad news
We are adding per-transaction limits in addition to daily volume limits.
The per-transaction limit for accounts with limited verification is $1,000 (previously $3000). To conduct transactions over $1,000 you must get your account verified.
We require users to provide their Date of Birth as a requirement to change their verification status to “Verified”.
We require users to provide their Occupation as a requirement to change their verification status to “Verified”.
The good news
We are increasing the daily volume limit from $3,000 to $10,000 for users that have the “limited” account verification status. Users with limited account verification can do multiple transactions as long as they are each below the $1,000 threshold and as long as they don’t exhibit suspicious behavior (see details below).
Identity documents will no longer be required for users that can be identified using their credit files. They will only be required where identification using credit file lookup was inconclusive. This change will take effect later this summer.
Connecting bank accounts to Bull Bitcoin using the flinks bank verification software will no longer be required for users that can be identified using their credit files. This will only be required where identification using credit file lookup was inconclusive. This change will take effect later this summer
The user’s KYC info (name, address, date of birth and occupation)
Suspicious transaction reporting
Satoshi Portal is required to make suspicious transactions report to FINTRAC after we have detected a fact that amounts to reasonable grounds to suspect that one of your transactions is related to the commission or attempted commission of a money laundering offence or a terrorist activity financing offence. Failure by Satoshi Portal Inc. to report a suspicious transaction could lead to up to five years imprisonment, a fine of up to $2,000,000, or both, for its executives. We are not allowed to share with anyone other than FINTRAC, including our clients, the contents of a suspicious transaction report as well as the fact that a suspicious transaction report has been filed.
What is suspicious activity?
Note forbitcoinca: this section applies ONLY to Bull Bitcoin. Most exchanges have much stricter interpretation of what is suspicious. You should operate under the assumption that using Coinjoin or TOR will get you flagged at some other exchanges even though it's okay for Bull Bitcoin. That is simply because we have a more sophisticated understanding of privacy best practices. Identifying suspicious behavior is heavily dependent on the context of each transaction. We understand and take into account that for many of our customers, privacy and libertarian beliefs are of the utmost importance, and that some users may not know that the behavior they are engaging in is suspicious. When we are concerned or confused about the behaviors of our users, we endeavour to discuss it with them before jumping to conclusions. In general, here are a few tips:
Don’t provide false of misleading information. We will know right away if your date of birth, address and name don’t match.
Don’t try to exploit loopholes in the KYC process.
Don’t transact on behalf of someone else without telling us.
Be cooperative with customer support.
Here are some examples of behavior that we do not consider suspicious:
Coinjoin or other Bitcoin privacy techniques.
Using VPNs, TOR or VOIP phones.
Asking questions about, or criticizing, our privacy policies.
Talking negatively about banks or government.
Here are some example indicators of behavior that would lead us to investigate whether or not a transaction is suspicious:
Making statements about being involved with criminal activity.
Saying you don’t want the government to know about your transactions.
Asking advice about concealing source of funds or tax avoidance.
Funding your account from a bank account that is not in your name.
Conducting transactions on behalf of someone else without telling us.
Trying to falsify your identity or impersonating someone else.
Making multiple bill payments to the same recipient, or multiple Bitcoin purchases, in a way which seems structured specifically to avoid the $1,000 transaction amount KYC threshold.
Continuing to perform transactions that are unnecessarily complex, inefficient and not cost-effective after having been advised otherwise by our staff.
What does this mean for Bitcoin?
It was always standard practice for Bitcoin companies to operate under the assumption they would eventually be regulated and adopt policies and procedures as if they were already regulated. The same practices used for legal KYC were already commonplace to mitigate fraud (chargebacks). In addition, law enforcement and other government agencies in Canada were already issuing subpoenas and information requests to Bitcoin companies to obtain the information of users that were under investigation. We suspect that cash-based Bitcoin exchanges, whether Bitcoin ATMs, physical Bitcoin exchanges or Peer-to-Peer trading, will be the most affected since they will no longer be able to operate without KYC and the absence of KYC was the primary feature that allowed them to justify charging such high fees and exchange rate premiums. One thing is certain, as of today, there is no ambiguity whatsoever that Bitcoin is 100% legal and regulated in Canada!
Blockchain Can Provide the Right to Privacy That Everyone Deserves
You can read the original article here: https://cointelegraph.com/news/blockchain-can-provide-the-right-to-privacy-that-everyone-deserves Blockchain technology can help to build a self-sovereign financial system where privacy belongs to the people. Contrary to popular belief, privacy is not for those with something to hide but with everything to lose. Authoritarian governments across the globe are increasingly using surveillance to control their citizens at the expense of personal freedoms and civil liberties. The privacy of one’s financial transactions is intricately linked to one’s personal liberty. Without privacy (and financial means), true freedom is at risk. We are rendered powerless to resist oppression. The promise of cryptocurrency is that it is uncensorable and unseizable money for the people. But Bitcoin (BTC), which was supposed to be like peer-to-peer digital cash, lacks privacy, which is essential to enabling these properties. In an increasingly connected and data-driven world where surveillance and data harvesting is the norm, we must treat privacy as a fundamental human right. If we believe in the original tenets of cryptocurrency as a decentralized and self-sovereign form of money, we need to fight to maintain our right to be private.
Some cryptocurrency projects seem to be apologetic for being privacy-focused, given the current regulatory climate and common misconception that privacy coins are used by criminals to hide illicit activities. Consequently, we see other projects in the space, such as Zcash (ZEC), Dash (DASH) or even Bitcoin adopting opt-in privacy models, which clearly do not work. Low usage means low privacy, as indicated by Chainalysis’ findings that 99% of Zcash transactions are partially traceable and that the firm can perform successful investigations into Dash’s PrivateSends. Other studies also indicate that despite Zcash’s advanced technology, many users who did not completely understand how its privacy worked used it improperly and made it traceable anyway. Yet, the fact is: No matter how advanced the privacy technology employed, it is meaningless if it is not used. Privacy likes being in a crowd. Privacy needs to be easy-to-use. Various explanations have been given as to why these privacy cryptocurrencies do not seem to want to encourage greater adoption of private transactions. The primary reason being that they need to play nice with regulators, who are uncomfortable with the idea of private transactions. Despite its early origins being one of the first privacy coins, called Darkcoin, Dash goes to great lengths to distance itself from being called a privacy cryptocurrency, including with a published legal position that in terms of privacy, it is no different than Bitcoin. These timid approaches do privacy a great disservice, characterizing it as something shameful. A better, bolder approach is privacy-on by default, with transparency opt-in. Offering the privacy protocol Lelantus, which automatically anonymizes funds in a wallet, but also allows for the option of turning it off when needed, serves to maintain easy adoption for exchanges and wallets that do a high volume of sends but don’t necessarily want the overhead of privacy transactions. Since the exchange knows your identity anyway, there is no need for sacrificing anything but gaining the benefit of large anonymity sets and fast, lightweight transactions for exchanges and ease-of-integration with the larger crypto ecosystem that is used to dealing with Bitcoin-type coins. This is especially important when integrating into decentralized exchanges or for interoperability for DeFi transactions.
Playing nice with regulators
Privacy coins are concerned about their survival in an increasingly hostile regulatory environment, in which it is easier to maintain opt-in privacy for compliance reasons. While significant pressure against privacy coins comes from banks or concerned regulators, there is no outright statutory or common law against them. Even the revised “travel rule,” or FATF rules that impose additional obligations on disclosure, as well as Anti-Money Laundering rules for exchanges and custodial wallets, do not ban privacy coins. Virtual asset service providers, or VASPs, can still disclose sender identity, as they already know who you are regardless of blockchain privacy mechanisms. Related:Blockchains Are an Excellent Solution for Privacy, Part 2
Privacy for all
We strongly reject the common argument that privacy technologies enable illicit activity. Recent studies such as the Rand Corporation’s report states:
“While privacy coins may intuitively appear likely to be preferred by malicious actors due to their purported anonymity-preserving features, there is little evidence to substantiate this claim.”
The traditional fiat world continues to make it easy to launder money without having to resort to the complexities and volatility of cryptocurrencies. For example, trade-based money laundering is still simple to do and hard to detect. Additionally, the “National Terrorist Financing Risk Assessment” report published in 2018 continues to cite the banking system and complicit money services businesses as the primary way that terrorist funding is facilitated. Many of these reports indicate that the right way to combat these is through robust international regulation and law enforcement, as well as improved coordination between the public and private sectors. None of these reports suggest the banning of privacy technologies or cryptocurrencies. Any cryptocurrency that wants to remain true to the original purpose must include privacy. With the development of blockchain technology, we are at the precipice of a self-sovereign financial system in which we have complete control over our assets. We envision a system in which the freedom and opportunities of true economic equality, and not just financial equality, are guaranteed for everyone. To reach these lofty goals, privacy is essential to preserving our rights and the freedoms therein. The cryptocurrency industry must come together to champion privacy and work to further its wide-scale adoption. Our goal is to change public perception and make privacy a value worth fighting for.
Building the infrastructure for the Bitcoin Standard in Canada before the collapse of fiat currencies is the critical mission objective that drives innovation at Bull Bitcoin. We are very excited to announce an important milestone in fulfilling this duty: the public release of Liquid CAD, our newest product designed to accelerate and facilitate the adoption of Bitcoin. Liquid CAD is a non-custodial prepaid payment system denominated in Canadian dollars. Units of Liquid CAD (L-CAD) consist of vouchers issued on the Liquid Network as confidential bearer assets that can be transacted peer-to-peer using a Liquid wallet. Users acquire Liquid CAD by withdrawing their account balance out of Bull Bitcoin, by purchasing Liquid CAD with Bitcoin on Bull Bitcoin, by using the Liquid CAD withdrawal method on other Bitcoin liquidity providers such as Aquanow or by accepting L-CAD as method of payment.
L-CAD assets can only be redeemed for Bitcoin. They cannot be redeemed for a fiat currency payment.
Liquid CAD is a unique project rethinking the concept of fiat-pegged assets, avoiding the banking business model of “fiatcoin” (aka stablecoins) in favor of a prepaid payments model entirely centred around Bitcoin on-ramp and off-ramp. Liquid CAD is not a currency, nor is it a security: it is a prepaid card. Importantly, the business model of Liquid CAD is not to collect interest on funds in our custody, unlike fiatcoins, but rather to drive the sales of Bitcoin from which we derive our revenue and we benefit from Liquid CAD assets being cashed out and thus removed from our balance sheet. Bull Bitcoin does not get any revenue from interest. Every time an L-CAD token is purchased by a user, the amount of dollars deposited on Bull Bitcoin is guaranteed to one day be used by someone to purchase Bitcoin. It’s a one-way street: once a unit of fiat is tokenized as L-CAD, it’s never going back to its off-chain fiat form and will ultimately result in a buy order on a Bitcoin trading platform. The Liquid CAD logo is a drop of blood because our objective is to accelerate “fiat bleed”, a phenomenon best described by Pierre Rochard in his magnificent essay Speculative Attack:
“Bitcoin will not be eagerly adopted by the mainstream, it will be forced upon them. Forced, as in “compelled by economic reality”. People will be forced to pay with bitcoins, not because of ‘the technology’, but because no one will accept their worthless fiat for payments. Contrary to popular belief, good money drives out bad. This “driving out” has started as a small fiat bleed. It will rapidly escalate into Class IV hemorrhaging due to speculative attacks on weak fiat currencies. The end result will be hyperbitcoinization, i.e. “your money is no good here. Bitcoins are not just good money, they are the best money. The Bitcoin network has the best monetary policy and the best brand. We should therefore expect that bitcoins will drive out bad, weak currencies. My own prediction is that slow bleed has been accelerating and is only the first step. The second step will be speculative attacks that use bitcoins as a platform. The third and final step will be hyperbitcoinization.”
Different representations of Canadian dollars compete to be used as payment methods (cash, bank balances, PayPal balances, closed-loop prepaid cards, open-loop prepaid cards, etc.) and that the winner will be the one that has the best Bitcoin saleability, i.e. which can be most easily sold for Bitcoin at a moment’s notice. We’re very proud to provide this alternative payment method to Canadians in a time where the banking system is falling deeper into crisis, especially as the Canadian dollar is demonstrating itself to be one of the most pointless and weakest currencies that nobody really wants to hold. Finally, we’re very happy to be partnering with Aquanow, our recommended institutional liquidity provider for high-volume BTC-CAD trading. They will accept Liquid CAD deposits and withdrawals as being interchangeable with Canadian dollars. We hope that Liquid CAD will become the standard representation of Canadian dollar value among Canadian Bitcoin users.
Liquid Bitcoin (L-BTC) integration
In addition to Liquid CAD, Bull Bitcoin is also announcing that Liquid Bitcoin (L-BTC) payments are now supported interchangeably with Bitcoin transactions for all Bull Bitcoin services. This means that our users can buy, sell and spend L-BTC instead of BTC. Canadian Bitcoin traders can purchase L-BTC from BullBitcoin.com and fund their international trading accounts with L-BTC using ultra fast and cheap confidential transactions. They can also cash-out their Bitcoin balance as L-BTC from these platforms and sell those L-BTC for fiat on Bylls.com, avoiding risky and expensive international wire transfers to unknown and untrusted foreign banks. The transactional benefits of L-BTC are very potent:
Transaction amounts are hidden, in compliance with Canada’s strict privacy protection laws
Observers cannot tell whether the transaction is L-BTC or any other asset
Confirmation times are 1 minute
Transaction fees are very low (< 0.05$)
Disclaimer: Liquid Bitcoin (L-BTC) is not the same as Bitcoin (BTC). L-BTC Liquid Network assets are IOUs for Bitcoin held in a multisignature contract by the Liquid Network federation. The custody of the underlying Bitcoin is managed by a decentralized network of 15 members which process transactions and withdrawals from the multisignature contract according to the Liquid Federation protocol rules.
Liquid CAD detailed overview
Peer-to-peer prepaid payments by Bull Bitcoin
Liquid CAD is a non-custodial prepaid payment system denominated in Canadian dollars. Units of Liquid CAD (L-CAD) consist of vouchers issued on the Liquid Network as confidential bearer assets that can be transacted peer-to-peer using a Liquid wallet. Users acquire Liquid CAD by withdrawing their account balance out of the Bull Bitcoin, by purchasing Liquid CAD with Bitcoin on Bull Bitcoin, by using the Liquid CAD withdrawal method on other Bitcoin liquidity providers such as Aquanow or by accepting L-CAD as method of payment.
A new payment method in Canada
Liquid CAD can be used by anyone to send and receive payments denominated in Canadian dollars. Because of the permissionless nature of the Liquid Network, Bull Bitcoin cannot prevent Liquid CAD from being traded on secondary markets. Merchants, individuals and institutions must accept that only Bull Bitcoin can guarantee redemption of the L-CAD and that this redemption will be exclusively paid out in Bitcoin. Accepting Liquid CAD as payment is, in effect, the same as accepting gift cards as payment. However, Bitcoin being the most liquid commodity on the market, it can be transformed into any other currency easily for example using services such a Bylls which allow Canadians to pay all their utility bills, send bank transfers to third parties or sell Bitcoin to their bank account.
Making Canadian dollars bleed into Bitcoin
The purpose of Liquid CAD is to facilitate the transfer fiat in the context of the purchase and sale of Bitcoin and providing innovative new services that help Bitcoin users hedge the value of Canadian dollars against Bitcoin in the context of their commercial transactions. Our goal is to create a payment method that is specifically targeting Bitcoin users that wish to liquidate Canadian dollar payments for Bitcoin. Our mission is to accelerate the phenomenon known as “fiat bleed” whereby Canadians will gradually abandon inferior money (such as the Canadian dollar) for the superior Bitcoin alternative. Every Liquid CAD issued will ultimately be exchanged into Bitcoin. We are excited for the day Liquid CAD will be made obsolete by the inevitable hyperbitcoinization of the Canadian economy.
Like all other closed-loop prepaid instruments, Liquid CAD has counterparty risk. The owners are trusting that they will eventually be able to use Liquid CAD as a payment method on the Bull Bitcoin platform to fund their account and purchase Bitcoin. When a Bull Bitcoin user withdraws his Bull Bitcoin account balance as an L-CAD token, the Canadian dollars he used to fund this balance remains in our possession in the same manner as regular Bull Bitcoin vouchers. These funds are used to execute Bitcoin purchases when L-CAD owners decide to redeem their L-CAD for Bitcoin. In essence, each L-CAD is “backed” by the Canadian dollar deposit of the user that withdraws it from the platform in the first place.
Benefits of using and accepting Liquid CAD for payments
Irreversible, non-custodial and no bank required
Liquid CAD payments cannot be charged back, cancelled, delayed or frozen. There is no intermediary between the sender and the recipient. It is a bearer asset: whoever owns the keys owns the coins. It is a perfect way to accept payments or transact securely without depending on banks and payment processors. Canadians can use Liquid CAD to purchase Bitcoin and then use Bylls.com to pay billers, personal payees or simply sell Bitcoin to their bank account.
Fast transaction and cheap fees
Liquid Network transactions are sent and received instantly and require 1 minute for settlement. Transaction fees paid using Liquid Bitcoin can be as low as 300 satoshis per transaction (a few cents). In order to benefit from these cheap fees, make sure to download the latest version of the Elements software and ensure that the minimum transaction fee is set at 100 satoshis per kilobye. It only takes a few minutes to set up a free Liquid Network wallet, such a Green Wallet by blockstream.
Unlike Bitcoin, transactions between the sender and the recipient are encrypted. It is impossible for third parties observing Liquid CAD transactions on a block explorer to determine the amount of the transaction. In addition, it’s also impossible to even know you are using Liquid CAD, since the data identifying the asset itself is also encrypted!
What are the use-cases of Liquid CAD?
Buying and selling Bitcoin
The primary use-case of Liquid CAD is to make it easier to buy and sell Bitcoin on the Bull Bitcoin platform. By withdrawing their balance from Bull Bitcoin, users are reducing some (but not all) of the custody risk associated with keeping fiat currency on an exchange. For example, use Liquid CAD to create your own non-custodial dollar-cost-averaging schedule!
Onboarding new Bitcoin users
New users can be overwhelmed by the experience of dealing with banks to buy Bitcoin (and the heavier KYC process of account funding). You may be tempted to buy Bitcoin for them, but that will impose a lot of burdens on you. It’s much easier to set them up with a Green wallet, send them Liquid CAD and show them how to use Bull Bitcoin! They decide when is the right time for them to invest, with a lower KYC burden.
Hedging Bitcoin price
You may believe the price of Bitcoin will go down in the short term, but you still want to hold Bitcoin in the long term. Normally you have two options: short the Bitcoin price (very risky!) or sell your Bitcoin and receive Canadian dollars in your bank account (inconvenient!). By selling your Bitcoin for Liquid CAD, you can lock in the value of Bitcoin right now and buy them back later without needing to use your bank account or taking risks with leverage.
As a merchant, you want to receive the settlement of payments in Bitcoin. But this imposes a burden on your customers, which have to deal with the Bitcoin price volatility when they are paying you. Ask your clients to pay you with Liquid CAD, and you can get the settlement with Bitcoin on your own terms.
Payroll and suppliers
What if your staff or suppliers want to get paid in Bitcoin? It can be very difficult, because this means you are effectively buying Bitcoin on their behalf. Instead, you can pay them in Liquid CAD and let them deal with the process of choosing the exchange rate and using their own wallet. Let them deal with the tax burden, exchange rates and Bitcoin wallet security.
List of Bull Bitcoin Liquid Network features
Withdraw account balance as L-CAD
This is conceptually the same as “buying” Liquid CAD with your account balance. We call it “Withdrawing L-CAD” because on the Bull Bitcoin platform, we consider L-CAD and CAD to be interchangeable and fungible.
Fund account balance with L-CAD
To redeem Liquid CAD for Bitcoin, users need to first fund their account by selecting the “Deposit L-CAD” payment method. Bull Bitcoin users must always fund their account first before buying Bitcoin, and then purchase Bitcoin with their account balances. Reminder: account balances cannot be withdraw as fiat payments, but can later be withdrawn again as L-CAD.
Sell Bitcoin for L-CAD
You can sell Bitcoin and receive Liquid CAD payments instead of a bill payment, personal payee payment or bank payment. As soon as the Bitcoin transaction is confirmed, the Liquid CAD transaction is sent to the address you provided.
Liquid Bitcoin (L-BTC) and Bitcoin interchangeability
For every service which involves a Bitcoin payment, the user can substitute traditional Bitcoin payments for Liquid Bitcoin payments. This includes:
Stellar Foundation signs a partnership with Elliptic: what does this mean for you and for compliance?
We always bring you the latest news about Stellar partnerships, and today's story is perhaps the most exciting in the past months. Stellar has partnered up with Elliptic – one of the world's leading crypto security providers. Read on for details! We all want mass crypto adoption to come sooner, but there's an obstacle: the vast majority of businesses in the world still don't accept crypto. Mass adoption won't come thanks to DeFi, blockchain games and other dApps along – it needs a willingness on behalf of traditional companies. One of the things that these non-crypto businesses worry about is the risks and legality of crypto payments. Everyone has heard that Bitcoin and other coins are often used to finance terrorists, launder money, conduct fraud etc. The phrase 'dirty Bitcoins' is also popular. Naturally, entrepreneurs worry: will there be consequences if they accidentally accept such a dirty coin? Can it land you in prison as aiding and abetting crime? The solution is to use a service that monitors crypto transactions and flags those that seem suspicious. It's true that crypto is mostly anonymous, but you can track the same coin across different transactions and see if it participated in anything fraudulent. This requires a powerful AI, or a neural network. So, Elliptic is just such a transaction monitoring service. It has an advanced risk scoring system and can easily detect suspicious signs of a fraud. It's been offered to Bitcoin-based businesses for quite a while – for example, leading crypto payment providers use it. But now it's finally become available for Stellar. In their press release, Stellar and Elliptic say that the partnership will allow to detect money laundering partners, collect data to link XLM payments to known fraudulent entities and even learn more about the dark web. The ultimate goal is to boost compliance and Stellar's standing in the eyes of regulators. Does this endanger your privacy as a user of the XLMwallet? No, not at all. Compliance and privacy are fully compatible. Nobody is going to put you under surveillance. The partnership refers more to Stellar-based businesses, not to wallets. Apparently it will be up to each business to decide if it wants the transactions of its users to be tracked and analyzed. So far it's just for XLM transactions, by the way, and not for other assets issued on the Stellar blockchain. We as the administration of XLMwalletaren't planning to introduce such monitoring. However, if you pay with XLM in e-commerce stores or in dApps, you should keep in mind that your payment might be scored for risk by Elliptic. But if you are not involved in any shady activities, there's really nothing to worry about. What do you think about Elliptic and its risk monitoring system? Do you find it controversial? Share in the comments! https://xlmwallet.co/ Website — https://xlmwallet.co/ Medium — https://medium.com/@XLMwalletCo Teletype — https://teletype.in/@XLMwalletCo Twitter — https://twitter.com/XLMwalletCo Reddit — https://www.reddit.com/XLM_wallet/
The CBDC Road to Practice-The Framework of LDF 2020
The CBDC Road To Practice——The Framework of LDF 2020 March 8, 2020 By JH( Lend0X Project Architect) The Market Structure Analysis of CBDC I. CBDC helps GDP growth CBDC can be used as cash for commercial banks or as a medium for (government) bonds. The way in which assets are issued will have a huge impact on GDP growth. For commercial banks, the CBDC issued by the central bank is the source of assets. For customers, the products under the CBDC are the use of funds. Blockchain-based CBDC and bank account-based digital cash and banknotes are generally considered to have a huge difference in the contribution of GDP to quality, cost, and efficiency. https://preview.redd.it/fji1rqdxequ41.png?width=411&format=png&auto=webp&s=10647fa76b42056f80527cfd5342a2f8c1d1df1a Qualitatively The Bank of England states in the 2019 study that the macroeconomic effects of issuing central bank digital currency (CBDC), the following three advantages of digital currency can increase interest-bearing central bank liabilities, and distributed ledgers can compete with bank deposits as a medium of exchange. In the digital currency economy model 1. The model in the report matches the adjusted US currency issuance before the crisis, and we find that if the issuance of CBDC accounts for 30% of GDP, compared with government bonds, it may permanently increase GDP by 3%.
Reduce real interest rates, reverse taxes and currency transaction costs.
As a second monetary policy tool, countercyclical CBDC price or quantity rules can greatly improve the ability of the central bank to stabilize the business cycle.
Cost II. The issuing system and payment structure of CBDC The BIS research report pointed out that CBDC has many open questions, such as whether they should be retail or wholesale? Directly or indirectly to consumers? Account-based or token-based? Based on distributed ledgers, a centralized model or a hybrid model? How does CBDC pay across borders? https://preview.redd.it/6dczkw83fqu41.png?width=249&format=png&auto=webp&s=3c9f31f371ccbeab21d634b6a01ee0bd5a8b0f08 Of the three issuance systems (indirect, direct, and hybrid), CBDC can only be issued directly by the central bank. In The first type of indirect issuance structure，the CBDC is the indirect architecture ,and is done indirectly. ICBDC in the hands of consumers (such as the digital currency issued by the 4 largest state-owned commercial banks in DCEP) represents commercial banks (such as the 4 largest state-owned commercial banks) debt. In the second type of direct and third type of mixed issuance structure, consumers are creditors of the central bank. In the direct CBDC model (type 2), the central bank processes all payments in real time and therefore maintains a record of all retail assets. The hybrid CBDC model is an intermediate solution where the consumer is a creditor of the central bank, but real-time payments are handled by the intermediary, and the central bank keeps copies of all retail CBDCs in order to transfer them from one payment service provider to another in the event of a technical failure. In terms of efficiency Three payment architecture architectures allow account-based or token-based access. Although its DCEP digital currency is not a token in the blockchain, it is similar to the token in blockchain in key features such as non-double spending, anonymity, non-forgeability, security, transferability, separability, and programmability. Therefore, DCEP still belongs to the Token paradigm, not the account paradigm. All four combinations are possible for any CBDC architecture (indirect, direct or hybrid) whatever the payment structure is based on the centralization or centralization mode, the account or token mode of blockchain smart contract account . But in different structures, central banks, commercial banks, and the private sector operate different parts of the infrastructure. At present, the DCEP issuance structure adopts a two-tier structure, and its payment system——four major state-owned commercial banks issuing four ICDBC tokens. Its technical architecture features are consistent with the first indirect distribution method. Because DCEP is positioned as digital cash (M0 cash) and the central bank's DCEP supports offline mobile payment, considering its huge payment transactions, a centralized account system for DCEP payment methods is essential. Offline Payment methods access to mobile wallets based on tokens are also essential for commercial banks. https://preview.redd.it/0wvltv0ffqu41.png?width=411&format=png&auto=webp&s=4fd728ece4e869126b6ec8e90cd1962302a424bd LDF Central Bank Digital Currency CBDC Project Development At present, the technical framework of the CBDC and the selection of infrastructure are divided into the R & D and cooperation of domestic application planning DCEP application scenarios; its overseas expansion goal supports the development of the “Belt and Road” digital asset ecosystem. DCEP adopts a double-layer system of commercial banks and central banks to adapt to the existing currency systems of sovereign countries in the world. China, as a currency issuing country, has strong economic strength and basic conditions necessary for world currencies. At the same time, DCEP can also save the issued funds, calculate the inflation rate and other macroeconomic indicators more accurately, better curb illegal activities such as money laundering and terrorist financing, and facilitate foreign exchange circulation worldwide. 1. LDF——the combination of CBDC program and token economy Only after answering questions such as the openness of CBDC currency itself, can we solve how the application of multiple blockchain industries such as LDF digital asset issuance platform, digital asset support bond platform, and lending and other CBDC currency "product traceability", "digital identity authentication", "judicial depository", "secure communication"and other basic applications, these LDFs are an important direction for exploring blockchain applications. 2.Select the most widely used blockchain technology as the basic platform LDF introduced CBDC to use blockchain technology because it is the most mature landing foundation platform. It has the advantages of decentralization, openness, autonomy, anonymity, and tamper resistance. It can make the entire system information highly transparent, its data stability and the reliability is extremely high, which solves the point-to-point trust problem and can reduce transaction and operating costs. At present, the underlying technologies of mainstream digital assets such as Bitcoin, Ethereum, and USDT are all blockchain technologies. At the same time, the application scenarios of the blockchain not only include digital currency, but also include many fields such as "product traceability", "digital identity authentication", "judicial depository", "secure communication" and so on. 3.Interpretation of DCEP and selection of LDF blockchain technology architecture ·DCEP does not use a real blockchain like Libra, but may use a centralized ledger based on the UTXO (Unspent Transaction Output) model, and it still belongs to the Token paradigm. This centralized ledger reflects the digital currency issuance and registration system maintained by the central bank. It does not need to run consensus algorithms and will not be subject to the performance bottleneck of the blockchain. The blockchain may be used for the definitive registration of digital currencies and occupy a subsidiary position. https://preview.redd.it/655gvo1ofqu41.png?width=273&format=png&auto=webp&s=eaf1da72ef45db094067e5523b1a92cc9a0f71c1 ·Users need to use DCEP wallet. The core of the wallet is a pair of public and private keys. The public key is also the address, where the digital certificate of RMB is stored. This digital certificate is not a token in the blockchain in the complete sense, but it is consistent with the Token in many key features, and it is based on 100% RMB reserve. Users can initiate transfer transactions between addresses through the wallet private key. The transfer transaction is recorded directly in the centralized ledger by the central bank. In this way, DCEP implements account loose coupling and controlled anonymity. ·Although DCEP is a currency tool, the third-party payment is mainly a payment tool after "disconnecting directly", but there are many similarities between the two. If DCEP is good enough in terms of technical efficiency and business development, and from the perspective of users, third-party payments can bring the same experience after DCEP and "disconnect directly". Therefore, DCEP has a mutual substitution relationship with third-party payment in the application after “disconnecting directly”. ·DCEP will have a tightening effect on M2, and M2 tightening reflects the contraction of the banking system to a certain extent. Digital currency does not pay interest, and the People's Bank of China has no plan to completely replace cash with DCEP, so DCEP will not constitute a new monetary policy tool. DCEP has strong policy implications for central bank monitoring of capital flows, as well as anti-money laundering, anti-terrorist financing and anti-tax evasion. Therefore, the supervisory function of DCEP exceeds that of monetary policy. ·The impact of DCEP on RMB internationalization is mainly reflected in cross-border payments based on digital currencies. Although cross-border payments including DCEP, can promote RMB internationalization, cross-border payment is only a necessary condition for RMB internationalization, not a sufficient one. The internationalization of the RMB is inseparable from a series of institutional arrangements. 4.The effectiveness of digital currencies in the LDF framework CBDC is positioned as digital cash or currency under the LDF framework, and the remaining various tokens, cryptocurrencies, and stablecoins are treated as digital assets. The application platforms involved in LDF (asset mortgage bond platform, digital asset issuance platform, and lending). The underlying assets of LDF are part of the digital asset equity. The reason why LDF uses CBDC and stable currency as currency is due to ·LDF framework links three financial ecosystems ·CBDC has the characteristics of currency transaction, accounting unit and value storage have been verified ·Stablecoins can be used as a payment tool for token economic platforms, not currencies The stable currency selected by LDF should effectively play the payment function of the currency, and meet the requirements of the following LDF framework: ·Must be universally accepted ·Must be easy to standardize in order to determine its value Due to the characteristics of DvP (payment is settlement) based on blockchain technology, LDF's smart contracts have the characteristics of decentralized intermediaries, such as the function of asset account contracts partially replacing account settlement; the asset pool contract replacing SPV, and the cash flow contract replacing assets Payment intermediary The digital currency selected as an LDF that meets the above standards is very important for the effectiveness of the LDF framework. Otherwise, the platform built by the LDF framework will not be able to achieve the capabilities of distributed ledgers and DAO organizations. LDF regulatory compliance LDF chooses CBDC (DCEP) as the construction of digital asset transaction payment platform, which has the characteristics of DvP (asset payment is settlement). It supervises compliance with the selection of digital currencies that support smart contract accounts and trading platforms (anti-money laundering and anti-terrorist financing) has a decisive role. DCEP takes the form of loosely coupled accounts to achieve controlled anonymity. The current electronic payment methods, such as bank cards and third-party payment platforms, all use the method of tightly coupling accounts, that is, funds must be transferred through real-name bank accounts. But With the improvement of people's awareness of information security, electronic payment cannot meet people's demand for anonymous payment. The digital currency of the central bank adopts the form of loosely coupled accounts, enabling asset transfers without the need for bank accounts, so as to achieve controllable anonymity. Unlike Bitcoin's complete anonymity, the central bank has the right to obtain the transaction data within the legal scope, and the source of digital currency can be traced through big data analysis, while other commercial banks and merchants cannot obtain relevant information. This mechanism, while protecting data security and citizen privacy, also enables illegal activities such as money laundering to be effectively supervised. Association of LDF's DAO Autonomous Economic Model with CBDC The direct DCB (such as DCEP) or LIBRA of the LDF token can quantify the value of DAO / DAE through a certain transformation and analysis, and predict its future long-term growth rate and the problems to be solved by the economic model, the solution path adopted, and the overall structure design, technological innovation, team composition, development vision and roadmap. https://preview.redd.it/txg4mq0sfqu41.png?width=269&format=png&auto=webp&s=a69b919cf43c9115f43525f8d851ee1e4fbf5a1f ·The LDF economic model transplants the estimation model of the asset value of the general economic system to DAO 2.0 organization and market management, so as to establish a unified evaluation system for the value generated by the distributed autonomous economy (DAE). The endogenous economic growth model considers important parameters such as savings rate, population growth rate, and technological progress as endogenous variables. The long-term growth rate of the economy can be determined by the interior of the model. Moreover, the LDF economic model takes the number of tokens, nodes, and technical inputs of the distributed organization as similar parameters. The CBDC (such as DCEP) or LIBRA directly targeted by the token can quantify the value of DAO / DAE through certain transformation and analysis and predict its long-term growth rate in the future. ·In response to the special needs of transactions and asset on-chain in the blockchain field, the LDF economic model has developed a DAE (Decentralized Autonomous Economic) protocol group specifically designed to eliminate various pain points of decentralization in the blockchain field, and has developed corresponding LDF DAO DAPP, these agreements include: ·Issuance and trading of tokens based on smart contracts ·Distributed order submission and matching ·Transaction interest rate and mortgage method based on automatic discovery mechanism Therefore, whether it is a community member, an investor, or a blockchain project developer that develops applications on the LDF economic model, it can use the distributed rules, consensus mechanisms, infrastructure, and smart contracts provided by it to achieve the following purposes: ·Encrypted token asset transaction and circulation based on community autonomy ·Issue of new LDF tokens ·Construction, collaboration, management, voting, and decision- making of specific encryption token communities ·Develop a smart contract system for the dual factors of community node rights and workload ·Customized incentive standards for nodes with different interests Welcome to discuss with the author of this article, please contact via email:[email protected]
A Blockchain Strategy Director Is Hired By PayPal For Proper Execution. PayPal; also known as Digital Payment Giant had recently posted a job reservation which was listed in jobs on March 23rd which required an Anti-Money-Laundering (AML) and Blockchain Strategy director for their Global Financial Crimes (GFC) division. According to the company: “the new director —based in New York — will be in charge of evaluating blockchain's use cases for the prevention of financial crimes, such as money laundering and terrorist financing, to supervise the entire AML process.” The listed job also required a profile which had better experience and more opportunities in Blockchain related department that will be preferred more for the company so that the risky departments of the company could be benefited more and could be settled down properly. The portfolio which will be developed in the the Blockchain industry and fields will be preffered more while hiring the AML and Blockchain Strategy director for (GFC).
Crypto Sphere Was Reported As an Interest of PayPal
PayPal’s CEO Dan Schulman on November 20 revealed the truth of the same year that he is the owner of Bitcoin (BTC) and highlighted its “very volatile” nature: “Until it becomes less volatile, it won’t be a currency that is widely accepted by merchants on the web — not the dark web, but the web.” Looking to BUY, SELL, SEND, RECEIVE, SWAP and STORE Bitcoin or Cryptos? Visit our Sponsor BitcoinNYSC is P2P Crypto Wallet and Escrow website atwww.bitcoinnysc.com/to get $1,000 FREE deposit into your account using PROMO Code # ZAHR75 Looking for Job or Home Based Business? Tired of being non- productive? Apply to Become Home Based Financial Broker with an opportunity to make $3,000 to $12,000 USD$ average monthly income. Sign up now towww.bitcoinnysc.com/and use the PROMO Code # ZAHR75
I've been engaged with the cryptosphere since almost the very beginning: immediately seeing bitcoin for what it was, a way to securely store wealth outside of the banking system, freed from relying on a middleman who, it became clear over time, was more interested in policing my (and everyone else) actions to make sure their ass was covered with the increasingly noisy regulators, and due to their financial irresponsibility, always coming up with new and progressively more ridiculous fees. I was fed up with the old system already, having explored the black magic of infinite inflationable monies, centralized, communist-style administration of entire economies, and all the suffering, surveillance, corruption, and centralization of power that such things necessarily entail. Some Rothschild or Rockefeller said it best, "give me control of a nations money supply and I care not who makes the laws" - or something to that extent. Anyway, the allure for the very early adopters was being able to sidestep the massive fiat scam, put personal financial destiny squarely in our own hands, and not rely on third parties as much as possible. In the beginning Bitcoin was almost completely ignored. Only some ubernerds and a few drug dealers and drug users (who would like nothing more than peacefully transact between each other and mutually benefit from the exchange by the way, but are forced into dark corners of the internet because of arcane, politically-motivated, outdated drug laws that FINALLY appear to be crumbling to pieces after DECADES of propaganda and lies organized by major world governments and their lackeys) knew about it. Unfortunately most people lack imagination and, the nerds being mostly quiet and the drug-related activity soon being used as a justification to slam bitcoin with the "only for crime" label, most people thought nothing else of it. They could not see, and to this day still don't see, the immense potential that cryptocurrency can bring the world. There are more of you out there now who can, this is self-evident. Although frankly too many of you are here for gains mostly/only, and fail to see what cryptocurrency is really all about. Much like how so many people think the Internet is facebook and instagram and twitter. Which is so shockingly ignorant it almost makes my blood boil. Look, gains are nice, and of course we all want to make some money. I won't even fault you for taking profits, to me this seems like a sensible hedge, even a full decade into the cryptocurrency experiment, nothing is guaranteed, nothing is certain. So it makes sense to diversify, even - gasp - into fiat money that we can - hopefully - put to good use, today, in the "real" world. But to get back to the story - quickly then, from a very underground thing that almost nobody knew about, Bitcoin was attacked as being "only for criminals", and there was a palpable sense of apprehension and fear from international organizations and governments. Here was this thing that entirely sidestepped the financial system that keeps their funny monies going, and people were using the technology to emancipate themselves from arbitrary limitations and appalling mass-surveillance. And once a state gets used to mass-surveillance, it is very hard to get it to stop. The power is simply immense. Can you imagine? A database with the social connections of every citizen, what they like reading, the sites they like visiting, their physical location logged nonstop, painting very detailed pictures of peoples' lives. All of their posts online, neatly tucked away in some searchable massive database. Almost no one protested. "Well, I have nothing to hide", they said. And thus the surveillance state grew and grew, almost entirely unchallenged. In the name of "fighting terrorism", "catching pedos" and "removing drugs from society" (I could write volumes on this last one alone but this is not the time or the place) we saw our liberties and privacy being steadily eroded, particularly after the perfect excuse happened on September 11 2001. Boy oh boy did we see a destruction of civil liberties since then. Another part of this mass-surveillance was, and is, the banking system. Put simply, every transaction you make is under surveillance, recorded indefinitely. The reasoning? It could be related to financing terrorism. That appears to be the great corrosive thought behind all of this. You could be making a transaction to fund terrorism. You could be spewing "hate speech" (who gets to define it? apparently these days it means expressing right-leaning opinions - tomorrow, who knows?) on social media, so better record everything you write. You could be visiting "extremist" sites online, and because clearly this means you must be an extremist-in-training and not just some curious human trying to understand why on earth someone would have such wicked ideas, your internet activity is logged and analyzed. You use Tor or a VPN? Oh dear, now it's really clear that you must be a potential criminal. Otherwise you would have nothing to hide. Right ? Do you see the pattern? To bring it back to cryptocurrency, Bitcoin users, it is known, were also targeted for increased attention by certain intelligence agencies. Same logic - you were not happy with using the mass-surveilled financial system of yesterdecade? Probably a criminal in the making. Eventually though, that air of fear and apprehension more or less vanished. Regulators actually begun to realize that bitcoin is entirely transparent! All you have to do is require KYC at strategic points. People thought you were crazy for saying KYC would come to crypto. But it was so obvious. And you know what else is obvious? Once exchanges are keeping KYC, global regulators will require that they exchange information with them. This, recent news tell us, is already set in motion and will soon be a reality. Given the transparent nature of most blockchain projects, the implications are so obvious that the fact that almost no one sees what's coming next is almost enough for me to lose hope in humanity. Once there is a centralized record of who owns which addresses, several things become possible. You can now put people under surveillance in real time while they do their transparent chain business (.. shocking, right). You can tell who they transact with, and how often. You can censor their transactions, if not at the network level, at the merchant and exchange levels. And you can do something else too, which is to automatically treat any and all bitcoin addresses not associated with a known real identity as potential money laundering (remember the pattern?). All of this information being available will inevitably create a reality where you will be asked questions about what you do with your money. And this time it isn't the bank, it comes straight from higher up. Because every transaction is fucking PUBLIC!. Who did you send 0.5 BTC to on day X ? This address is not known to us. Please explain (or else). Why did you attempt to mix your coins? Have you got something to hide? Do you enjoy swapping coins in accountless sites like morphtoken ? Well, enjoy while it lasts, because it is a certainty that they will soon be forced to force you to put your identity at risk of being stolen, or else - you guessed it - they are helping with laundering funds. You think tools like wasabi wallet will help? On a transparent chain? If by now you cannot tell that the only thing this will accomplish is an automated blacklist of your coins because you must be trying to hide something but not allowing the State to track your every financial transaction on the chain, there is not much hope left for you. That is simply a massive failure of the imagination, and I lack the words to make the consequences of your ignorance any more obvious. I'm one of those "privacy nuts" you sometimes hear about. 15 years ago I was telling people that it was a really bad idea to be donating so much personal information to some company, but nobody would listen. Already too hooked on getting attention and feeling validated. What's sacrificing a little privacy to feel good - who cares if the tech company is making millions selling your every weakness, your private thoughts, your tastes and opinions, to third parties who somehow, for some reason, are very very keen in acquiring this data. Baffling how people could not see how valuable this data would become. Today it seems they are beginning to wake up. Meanwhile, the entire Internet has been boobytrapped, and in the unending fight to get rid of pedos, drugs and terrorists, we all live under mass-surveillance and almost everyone pretty much accepts it without questioning things too much. After all, there don't seem to be many consequences. But that's just a failure of the imagination. By accepting, uncritically, that transparent chains are a good foundation with which to build the new financial system, you are all voting for more surveillance, the automatic criminalization of privacy, suspicion by default, and subjecting yourselves to 24/7, algorithmic mass-surveillance. Physical cash is already on the way out in some parts of the world, and this is no accident. It is much harder to trace cash, and at this point the fourth excuse to do away with that pesky stuff - civil liberties - comes into play. The digitization of everything financial, the accompanying mass-surveillance and mass-ingestion of the data is necessary, you see, to catch tax evaders. After all (and you will remember the pattern for sure), if you desire some financial privacy, if you would prefer to keep your economic activity to yourself, you are a potential tax evader. It should go without saying, and even including this paragraph I suspect there will be many comments by people with short attention spans who will accuse me of encouraging tax evasion. Ah, how deep the brainwash goes. To that I would say, just think about the fact that up to until only a few decades ago (in thousands of years of history) it was not even possible to do financial mass-surveillance. And somehow roads were built, civilizations thrived, and there's a direct ancestry right to us. And yet we are told that only by stripping everyone of privacy could the state ever hope to collect tax. Bullshit. Look, you have to ask yourself, is this really what you want ? A world of mass-surveillance where all aspects of our life are neatly categorized and searchable in some state-controlled database (that will never be hacked, right ? hint: shadowbrokers) Can't you see it? Have you been anesthetized? Are you too numb to see? This is totalitarianism. Pure and simple. It's happened so gradually that somehow it seems the world has failed to notice. It is not right for things to be this way. If you would stop distracting yourself with social media, tv series and porn (and whatever else young people distract themselves with these days) you would come to develop this notion. Cryptocurrency was all about personal freedom. I am sorry to say that the technology has been almost entirely successfully adapted to do the exact opposite. Rather than offer us freedom, it serves as perfect, immutable evidence of all of our economic activity, whatever little privacy it offered crushed by off-chain measures like KYC and guilty-until-proven-innocent techniques that would have made the STASI proud. But not all is lost, yet. Fortunately we already have the technology to make on-chain privacy a reality. It's called Monero and it works today. I'm not going to babysit you through this and I'm not going to tell you to just trust my word for it, but I am going to tell you that if you care about a future where financial privacy is a reality, a future where the state and powerful corporations don't keep tabs on every transaction you make, every cent you receive, from whom and how often, with perfect accuracy, where automatically they know where you spend your money.. if you care about a future where you are not a slave to some financial master who insists on its right to observe to the most minute detail every aspect of your financial life (and as we have seen, many other aspects of life too - financial mass-surveillance is after all a subset of mass-surveillance itself).. Then you owe it to yourself to read about Monero. Transactions cost less than a cent, and on-chain privacy is a reality. Today. Will it be the ultimate financial privacy project? This I cannot know. I can tell you that it is the best chance we got today. Ultimately it does not matter to me which project makes financial privacy a staple. All I care about is that we, the peoples of the world, are able to transact with each other freely, without the assumption of wrongdoing, without being asked questions about or dealings and who we decide to do business with, before there is any evidence of foul play. That is what is happening today, and it is a very palpable thing that outside of certain niches like VPN providers, Monero adoption is very lackluster. They are afraid. People hear "privacy-preserving money" and think "headaches from the state". This is a shame. This cowardice will, unless reversed, soon enough plunge us into a world where our masters know everything about us, and can with the press of a button blacklist, deplatform, defund, and otherwise shut us up. Applied knowledge is power, and so is information. If you know everything about everyone, you have tremendous power over everyone. This reality must be stopped at all costs, if we want freedom and individual liberty to survive. Surveillance coins (99.999% of them) are not the answer to this most concerning of trends. Stand up for your rights. Use Tor, use VPNs, encrypt your email, encrypt your communications, and use privacy preserving cryptocurrency such as Monero. Don't be afraid. There's strength in numbers. Never forget who ultimately gives legitimacy to laws. If enough people come to think that weed ought to be legal, then in countries where the government is still somewhat under the control of the people, it will be so. You are probably sitting at home reading this. In the privacy of your home. That should be sacred. And yet, if you decide to visit certain sites like torproject.org or getmonero.org after you read this, automated actions behind your back will be taken. Increased scrutiny will be placed on you - "who is this person, that wants to protect their privacy? It is hard to convey in words just how evil, misguided and stifling this is. You may say I'm exaggerating, in which case only one word for you: SNOWDEN. And by the way, it was pretty damn obvious before his revelations that something of the sort was happening. Like it is obvious now with surveillance coins (transparent blockchains). Today it's KYC, tomorrow is automated chain analysis, the day after it's endless questions about who you're transacting with (updating the central registry based on the answers), and when your debt-ridden, socialist-leaning state finally pulls a Venezuela on you, it's open season. Let's try to put a stop to this while we can, shall we? The beast will not grow tamer if we keep ceding ground. The beast sometimes needs to be reminded of who's really in control. Privacy is not a crime. It is our birthright. We have the right and the basic dignity to transact with one another, without the Eye of Staton gazing upon us.
No one shall be subjected to arbitrary interference with his privacy, family, home or correspondence, nor to attacks upon his honour and reputation. Everyone has the right to the protection of the law against such interference or attacks. https://www.un.org/en/universal-declaration-human-rights/
It is on us, and future generations will hold us accountable, if privacy falls worldwide and the state controls every aspect of our life, and comes uninvited to ask questions under threat of force if we refuse on principle to comply. Stop getting distracted. Educate yourself, never stop learning, and do what you can to make this world a better place. More state control ain't the way.
Is it possible? - China designing auditable – permission blockchain payment system. Can we discuss please how??
Recently People Bank of China (PBoC) said that it will keep a balance between users’ privacy and regulator need for an audit. Meaning users who transact in digital currency will have their anonymity preserved, just as the case with cash transactions. At the same time for regulators, it will provide just enough auditable information to combat money laundering, terrorist financing, tax evasion, online gambling transactions and financing criminal activities. This was confusing for me that how it can be achieved unless it partially uses blockchain technology and still relies on the old centralized method. This open question made me put together pieces of the puzzle to figure out how this is even possible, what are they hiding, can anyone achieve auditable - permission blockchain. Here is what I think is happening behind the scenes. Please feel free to share your thoughts: Disclaimer: Since little is known about China’s digital currency design, this post is an Op-Ed. User’s security will be the main focal point for PBoC which depends on one piece of information. An information user must protect and not loose: Private key. If the user loses the private key, s/he also loses all the assets. PBoC may greatly reduce the risk by using a simple idea: use more than one key to sign a transaction. A “multi-layer” arrangement known as the ‘Threshold signature scheme’ to protect the user’s private key. For example, requiring 2 out of 3 signatures to successfully sign a transaction. In such an arrangement, each participant gets a separate private key for each user’s public-address. These participants could be – users themselves, Institutions, and auditors (or regulators). For ease of use, a mobile app will store the user’s private key and through biometric fingerprint sign the transactions. Note this mobile app is not a wallet, but more like an encrypted messaging app. For users, the front-end interface would more or less look like a transaction app while in reality, it triggers an encrypted message. Each time the user initiates a transaction, the initiator’s institute receives the details of the transaction (like payee address, amount) in an encrypted message. A copy of this encrypted message is also saved in a private database 1 -‘Records’ for audit reference. This strange relationship between Institute and user: As we know that China’s digital currency will be distributed by 7-8 institutes. Most of them are established financial institutions where their customers have already been through the KYC process. Therefore, any customer (user) from these institutes will use the provided mobile app to register, get added to database 2 – ‘White-list’ (explained later) and start initiating the transaction. Now institutes with their set of private-key decode the message. Takes the information (like amount, recipient address, etc) and finds the receivers institute. Once found, the institution sends the currency to the receiver’s institution along with an encrypted message which adds the recipient’s address. This transaction between institutions happens in a real blockchain-based transaction system much like Bitcoin. The receiving institution will look for the encrypted message and decrypt to know the recipient’s address. Then sends a confirmation message to the payee-payer and the mobile app syncs to reflect the new amount. Such an arrangement hides the payee-payer relationship as the public ledger only shows the institutions transacting with each other. In addition to the above system, there might also be another private database 2 – ‘White-list’ to keep a record of all public addresses along with user identity associated with it. Before the institute processes the transaction, they may check the authenticity of the user in this database like KYC verified user, etc. Now for audibility, auditors would refer to the private database 1 – ‘Records’. Each user will have an auditor assigned who can decrypt the message. Remember, the use of a threshold signature scheme. This auditor could be the third participant in this multi-layer arrangement who holds separate private-key associated with the user. By coordinating with the respective institute, the auditors decrypt the transactions and check compliance of the user’s financial transaction. If a user is using the digital currency for illegal purposes, the authorities will lock-up his/her address by changing user status as ‘not valid’ in the database 2 – ‘White-list’. So finally, here we have partial use of blockchain technology. What you think. Does it make sense or there could be another way of achieving complete blockchain based auditable-permissioned payment system?
Dear friends of LivesOne, Since the Symbiosism Economy Foundation announced the cooperation with BSV, we have introduced BSV in detail, including its history, philosophy, advantages, and the reasons for our choice. LivesOne always pays close attention to the trend of BSV and informs you in time. As we enter the year 2020, good news is coming one after another. Mining pool reduces BSV transaction fee and anchors legal tender BSV transaction fees are already the cheapest in major blockchains, but this is not enough. On January 8, the famous Bitcoin mining giant TAAL announced that in order to support blockchain applications that require a large number of transactions, it will reduce the miner rate on the BSV chain and increase the limit value of unconfirmed inherited transactions. Subsequently, the CoinGeek mining pool also issued a statement saying that it would follow up with this adjustment. Any fee reduction will send a clear signal to the market that the cost of using BSV will decrease. It is expected that this change will incentivize more enterprise applications to generate a large number of BSV transactions. Taking this step will generate high transaction volumes and higher total transaction fees. At present, Bitcoin transaction fees are not expressed in legal tender, but in "sat / byte". Therefore, transaction fees in legal tender price will fluctuate with the fluctuation of the price of bitcoin. This fluctuation will have a greater impact on applications that generate a large number of transactions on the blockchain. Commercial users of the BSV ecosystem have recently begun to explore an alternative transaction fee model that can be priced in legal tender, which provides higher reliability for BSV business applications. This new type of expense market emerged with the greater data and microtransaction capabilities of BSV. However, this is unlikely to happen on the bitcoin core network, because its block is too small, resulting in high transaction costs. Large enterprises usually want to be able to predict their costs, so stable transaction fees are expected to attract more enterprises to use BSV for data applications. TAAL promises to regularly check the lower BSV transaction fees to maintain stable transaction fees in legal tender. As one of BSV's partners, it is undoubtedly brought real benefits to LivesOne. Oppose Anonymity and Embrace Regulation The European Union’s 5th Anti-Money Laundering Directive (5AMLD) came into effect on January 10. The regulation was entered as law on July 9, 2018 in an effort to bring increased transparency to financial transactions for pushing back against money laundering and terrorist financing across Europe. For the first time, 5AMLD is broadening its regulatory scope by including crypto service providers like virtual-fiat exchanges or custodian wallet providers. The idea is make it more plainly knowable who’s participating in crypto transactions. The rationale is that doing so pushes back against money laundering and terrorism financing. According to an 5AMLD fact sheet, the law will:
increase transparency about who really owns legal entities in order to to prevent money laundering and terrorist financing via opaque structures
give European financial regulators better access to information via centralized bank account registers
tackle terrorist financing risks linked to anonymous use of virtual currencies and prepaid instruments
improve the cooperation and exchange of information between anti-money laundering supervisors and with the European Central Bank
broaden the criteria for assessing high-risk third countries and ensure a high level of safeguards for money moving to or from such countries.
European Union is paying close attention to cryptocurrency and has established its first set of rules for how companies in this space must behave. Now it’s on those companies to gain compliance or risk being able to operate at all. This reminds me of Dr. Craig's emphasis on the existence of BSV: Bitcoin's system should be transparent. It should not be used to fight the government; it should not be used to fight anyone. It can be used for creation, it can be used for construction. I have to say that the vision of BSV is prescient and correct. BSV is an honest system with transparency as its key feature. BSV can be used to create a more secure and honest society. BSV with unlimited expansion, anti-anonymity, and embrace supervision is the first choice for LivesOne team cooperation. The collaboration between LivesOne and BSV is ongoing, let us look forward to seeing more details. Symbiosism Economy Foundation Jan.15th, 2020
Flexa is not a peer-to-peer electronic cash system
It's good that Flexa supports Bitcoin Cash, but this is a very dystopian implementation for merchant integration. Here are some quotes from Flexa's terms:
Flexa reserves the right to temporarily delay, hold, or return deposits in order to prevent money laundering, fraud, or terrorist financing, and Flexa may prevent a user from generating Flexcodes™ for this reason as well.
You may also be required to provide Flexa with certain information about yourself, including some types of personally identifiable information, such as your legal name, phone number, physical address, and email address.
Flexa monitors for suspicious activity on its payment platform, while simultaneously Flexa’s licensed, third party custodian monitors for any suspicious deposition originations.
Spending on the App is currently limited to $100 per week for all App users.
Flexa cannot be used online at this time. An “authorized merchant” means a merchant that has been authorized by us to accept payment via the App for purchases of goods and services.
https://flexa.network/legal/terms I want to be able to spend my money anywhere, anytime, using any wallet I choose without going through a bank-like intermediary. I should be able to use Bitcoin Cash the same way as physical cash. Bitcoin Cash (BCH) is upgraded money for the world. I look forward to increased direct native merchant acceptance, as is done by many businesses in North Queensland.
A new Nano trade exchange was launched a couple of days ago - Here's why anyone who remembers Bitgrail should be be very afraid
This is mostly a duplicate of my summarised responses to that exchange's original announcement threads here and in/nanotrade**.** The owners of that new exchange are welcome to downvote this new posting of mine, but everyone else can make their own decision about whether to upvote this for posterity's benefit, so that my post gets found in months to come (given that Reddit's search engine is really bad at searching comments.) Here's what's dodgy about this exchange, and why anyone who remembers BitGrail should be very afraid: I emphasise that I'm not saying this is a scam. But I am saying it looks like what a scam website would look like andappearsto be operating illegally under UK law: * The domain NanoTrade.co.uk was registered only two days (one working day) before the site went live - meaning it only could have been tested very briefly, (Edit: and could not have been secured against accidentally being taken by another person, which implies incredible lack of planning) * The domain was registered by NameCheap, with an obscured registrant * The site was not pre-announced on /Nano Currency nor /NanoTrade * The site was announced first on /nanotrade (6k subscribers), but only announced here on /nanocurrency (44k subscribers) three days later, demonstrating a lack of knowledge of Nano relative subscribers * The announcer Paradise2GE claimed Google and Facebook Ads existed prelaunch - but no one of you here saw them because you would have excitedly told us if you had * No such advertising for the site was noted by me, yet I would have been a key target for it * Since the domain was not registered, such advertising could not have included, say, a [[email protected]](mailto:[email protected]) mail form, which is incompetent in itself * Nano Associates Limited was registered with Companies House on 2018-02-28 (as company number 11229688) - to a London mail-forwarding company's central London address (a postcode with 11,000 companies registered at the same address) * Its sole Director 'Orlando Carugo' has no Google history of being associated with Nano, Cryptocurrency, or finance at all * Orlando Carugo's profession is listed as 'Sales Director' * The Google and LinkedIn history of an UK-based 'Orlando Carugo' (a sales professional) can be found, with no reference to cryptocurrency but with references to being willing to work for stock options or commission * The announcement on /NanoTrade was made by Paradise2GE - an account with a few questions on Bitcoin two years ago, a single comment one year ago, then absolutely nothing until this weekend. * We know nothing of the overall reputation of the company owners * The company uses a payment processor https://en.bitcoin.it/wiki/VirWoX which has a daily limit on PayPal withdrawals of 2500EUR. The NanoTrade website however states that up to 90,000 Nano can be sold per PayPal transaction. It seems impossible to reconcile this for me. If 90,000 Nano is sold to PayPal, when would the seller get their money? * If the answer is that such payments cannot be made, when were the company planning to tell the sellers? * On being asked on /Nanotrade, Paradise2GE has avoided answering this question in their dissembling answers * The company is not registered by the FCA * The company is not registered by HMRC as a money service * It is a legal requirement for UK based companies to register as money services. * It is not a get-out to just deal in USD and not GDP, yet Patadise2GE has attempted to use that get-out in their answers * Paradise2GE has dissembled when answering questions as to why Nano Associates is not registered with FCA or HMRC * Paradise2GE claimed 1000 trades on their first day... for an unannounced site...purely from a posting that had around 40 up votes at the time. It's a lie. Not even Nanex gets that many trades on a good day. * Given a supposed 1000 trades in a day, 1440 minutes in a day, and 25% of Nano staked on Binance, we should expect to see >5Nano transactions coming out of the Binance hot wallet at least every 10 minutes or so. I don't see those * The site works poorly on Android, showing a lack of technical skill in its developers * The announcement of the exchange on /nanocurrency was by SMcArthurs - a one year old account, with very few postings, and no history in the /nanocurrency or /nanotrade subs * Someone downvoted my reasonable questions on /nanotrade. I can think of only one person who would want to do that, if malicious * Someone downvoted someone thanking me for my questions on /nanotrade. I can think of only one person who would want to do that, if malicious * User astricali has posted at 2018-12-03 05:00GMT that they made a successful sale of 999.99 Nano. I performed a text extraction of the posted image address, which they were apparently instructed to send to, but I notice that although that address indeed Received a 999.99 amount from the Binance Representative at 2018-12-04 02:17:01 (Timezone unknown), the address has never actuallyPocketed 999.99 Nano - the payment is still Pending.This is odd, since once might expect an efficient provider to pocket the Nano they receive asap, to sell it on the markets * The address has however received a range of 8 payments ranging from 1.99 Nano to 1,847.99 Nano. That surprises me, because I would expect a payment provider to use a unique address for each received payment. * The address has only ever sent a payment once, to KuCoin, on an unknown date before 2018-07-25 * Paradise2GE and SMcArthurs have been extremely quiet in response to these complaints levelled against their site * Edit: Why would they be selling Nano at 1.00 USD at the moment when Nano is on Binance at 0.94? * Edit: Seeing 403 Forbidden error 2018-12-05 23:38GMT * Edit: Don't even get me started on the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations Regulations 2017 * Edit: It's 12 days later - 18-Dec-2018. The 999 Nano still hasn't been pocketed at address. In 12 days neither promoter has denied that's it's their account. They are therefore probably incompetent even if non-malicious. * Also noticed something I should have picked up before: That address is Represented by Nanowallet.io - which means it's probably an account created on Nanowallet.io. Any 'real' exchange would need, at the very minimum, to run it's own node so that it can be online 24/7 - and if so would most likely Represent itself. Specifically choosing Nanowallet.io as their Representative after installing a full node would be an odd decision, given that they could help decentralize. 'm at way over 22 red flags here. I hope I save someone.
Investing in crypto is more like shareholding than using money. But where do crypto profits come from? Who are the CEOs and majority shareholders?
1 The majority of well-known cryptocurrency founders have criminal records and extreme views, many others are anonymous. They have preyed on retail investors to enrich themselves and encourage retail investors to promote extremist political views. 2 The founder of bitcoin was anonymous. What if that means he was an employee of a rogue regime, or a programmer for a terrorist group, or had a long list of criminal records? He or they would be amassing a fortune based on the fact that they had a head start in acquiring a large amount of cryptocurrency before the public had a chance. 3 A large majority of the cryptocurrency supply is owned by a small number of wallets with no known ownership. They could be a rogue regime, a terrorist group, child traffickers, a cartel, or all the above. In fact, we have quite a lot of evidence that the ‘all the above’ option is correct. 4 Cryptocurrencies do not meet the definition of money, they function more like shareholding in a network that derives revenue and profit from speculation, money laundering, terrorist financing, drug sales, child sex trafficking, ransomware, bribery, and financial fraud on exchanges. 5 The market prices are clearly artificially boosted with unbacked Tether (a token that is alleged to be backed by US dollars but is unaudited), fake volume and encourages investors to gamble with credit. This means the game is rigged to create Minsky Moments at regular intervals, roughly every 12-15 months, which wipes out retail investors and concentrates more wealth into fewer hands. 6 A portion of every bitcoin transaction goes into the pockets of the Chinese regime who control most of the hash power in cryptocurrency mining. Retail investors outside China should not be paying a transaction tax to that regime. It is also highly likely that mining company Bitmain and cryptocurrency exchanges like Binance are fronts for fund raising for the Chinese regime, its authoritarian figures, and its electronic warfare departments. 7 Reporters such as the website Bellingcat have shown us wallets belonging to known terrorists, Neo-Nazis and Russian intelligence. Retail investors should not be making these parties wealthier. We should not be financing those who kill and oppress people. 8 All the cryptos put together added two whole countries worth of carbon footprint to the planet in the last decade and rising. We are hitting record temperatures and this level of global warming is a threat to us all. This must not be encouraged. Our legacy financial system is much more energy efficient and improving at a much faster rate. The decentralized nature of cryptocurrencies make them inherently inefficient, slower and power hungry.
At the same time that Facebook has become the focus of the global financial market by issuing its cryptocurrency "Libra", DCEP (digital currency electronic payment) created by the people's Bank of China has officially moved from behind the scenes to the front of the stage. Is this the "new world currency" prepared by China for the global economies? 📷 At present, the digital currency electronic payment (DCEP) launched by the Central Bank of China is a new encrypted electronic currency system based on blockchain technology. DCEP will adopt a two-tier operation system, that is, the people's Bank of China will first exchange DCEP to banks or other financial institutions, and then these institutions will exchange DCEP to the public. Moreover, the central bank's global currency has been preparing as early as 2014. The future wealth is not US dollars, nor gold, which must belong to the blockchain digital assets; the digital assets will become the new favorite of the financial system and the general trend of global economic change. The central bank's digital currency will replace the cash, so in the background of the central bank's digital currency, what market opportunities will we pay attention to? What are its distribution characteristics? Does DCEP have all the necessary conditions for "world currency"? Compared with the launch of Libra coin issued by Facebook, we can find that they are very similar in terms of security, architecture, and concept. The difference is that DCEP keeps the advantages of Libra, and at the same time, DCEP gives an almost perfect answer to the design defect that Libra cannot become the world currency. 📷 (1) DCEP and RMB can be freely convertible 1:1, supporting connection with the central bank; (2) DCEP adopts the two-tier system of commercial banks and central banks to adapt to the existing monetary system of sovereign countries in the world; (3) DCEP is the legal tender and the replacement of paper one, which can ensure that the existing monetary theory system still plays a role; (4) DCEP can be based on special design, and can not rely on the network for point-to-point transactions. In a word, DCEP can not only realize all functions of the world currency US dollar, but also save issuing funds, calculate inflation rate and other macroeconomic indicators more accurately, better curb illegal activities such as money laundering and terrorist financing, and facilitate exchange and circulation in the global scope. Click here to visit BTCMEX.com. With the continuous challenges of bitcoin, Libra and other digital currencies, central banks around the world pay more and more attention to the research, development, and implementation of digital currencies. According to the existing survey in 2019, six countries in the world have issued legal digital currencies, eight countries plan to launch them, and nine countries are doing research. In order to protect the currency sovereignty and legal status of RMB, China's central bank has established a special research group on legal digital currency as early as 2014 and applied for 84 related patents as of September 2019. As a new form of digital currency, DCEP also uses blockchain technology. However, the central bank is the only issuing center, and the importance of decentralized bookkeeping has been weakened. The blockchain technology of DCEP is mainly used in the management of wallet address of DCEP and the supervision of transaction information. DCEP's transaction mode is very similar to that of electronic currency in the past. It also uses mobile phones to transfer between digital currency wallets, but it does not need to be connected to the Internet or bound with bank accounts. 📷 Compared with traditional legal currency and electronic currency, DCEP has the following advantages: Dual offline feature. DCEP is mainly used in retail scenarios. Although DCEP also needs to pay through mobile phones, it is more convenient. DCEP can be separated from the bank account in the process of transaction, and transfer remittance and payment can be completed in the offline form, achieving a similar effect with paper money. It has become a habit for many people to go out without cash. However, when the network signal is poor, the electronic money payment cannot work. DCEP can make up for this shortcoming. Click here to visit BTCMEX.com. The trade-off between security and anonymity. DCEP, like the digital currency in the past, respects the anonymous trading needs of traders. In addition to the need to bind with the account when converting the digital currency and the real currency, DCEP will not expose its own information to others when trading with the digital currency. Only the central bank can query the transaction information, which can also effectively combat money laundering, illegal transactions, and other acts. 📷 www.btcmex.com
Daily analysis of cryptocurrencies 20191121(Market index 30 — Fear state)
https://preview.redd.it/i0yg19nxx1041.jpg?width=1200&format=pjpg&auto=webp&s=17d69ae1c6358b8c8054ace9f5f4b35a86a9e51f National Assembly Of South Korea Approves A New Amendment, Looses Conditions For Virtual Currency Exchanges To RunThe government affairs committee of the National Assembly of South Korea has just approved the amendment of the Act on Reporting and Use of Specified Financial Transaction Information, which covers the content of loosing the permissive conditions that are needed for virtual currency exchanges to operate in the country. Furthermore, the amendment also gives the green light to commercial banks, allowing them to provide bank account services to virtual currency exchanges. Currently, the commercial banks only provide the above-mentioned services to four virtual currency exchanges, namely Bithumb, UPbit, Korbit, and CoinOne. That is to say, exchanges which meet the requirements of the Financial Intelligence Unit (FIU) under the Financial Services Commission (FSC) will be able to provide clients with the legal fiat-to-crypto transactions.The approval of amendment means that the virtual currency industry, which has been in the “gray zone,” will be covered by the regulations. The amendment defines the virtual currency as a virtual asset, and the virtual currency exchange is defined as a Virtual Asset Service Provider (VASP). In addition, representatives of operating companies must report to the FIU, while undeclared providers will be punished in accordance with the law. FATF Releases ‘Guidance For A Risk-Based Approach To Virtual Assets And Virtual Asset Service Providers’The Financial Action Task Force (FATF) released the “Guidance for a Risk-Based Approach to Virtual Assets and Virtual Asset Service Providers.” This guidance will help countries and virtual asset service providers understand their anti-money laundering and counter-terrorist financing obligations, and effectively implement the FATF’s requirements as they apply to this sector. CannaCor Puts Forward Blockchain Solution For The Medicinal Cannabis IndustryWith the Medicinal Cannabis industry reaching unseen heights, many countries are moving towards a more flexible approach to the regulation of the industry. CannaCor is jumping ahead by offering a business structure capable of providing both, customers and regulators, of what they desperately need: a trustworthy company capable of providing real-time information in regards to the cultivation, processing, and shipping of their product. German Government: Cryptos Are Not Allowed To Compete With Fiat CurrencyAccording to Xinhua News Agency, the German federal government issued a press release on Nov 20, stating that the government cabinet proposed at a digital conference held recently that it would not allow cryptocurrencies to compete with the national fiat currency.According to the press release, the emergence of Bitcoin triggered a wave of innovation in cryptocurrencies. The U.S.-based Facebook also announced the launch of the cryptocurrency Libra this year. After in-depth discussions within the cabinet, it is believed that cryptocurrencies such as Libra may undermine the status of banking and credit industries. Such currencies essentially provide banking services, but they are not banks, it said. https://preview.redd.it/zjwpc3iex1041.png?width=504&format=png&auto=webp&s=68d8d3e0b55a3f7a9186f0398ef7929fa9be77eb In morning, we discussed the chances of a breakdown in bitcoin below the $8,000 support area against the US Dollar. BTC made an attempt correct above the $8,150 resistance, but it failed to gain traction and remained well below the 100 hourly simple moving average. As a result, there was another bearish break below the $8,050 support. Moreover, morning’s bearish flag pattern was breached with support near $8,080 on the hourly chart of the BTC/USD pair. Finally, the price declined below the $8,000 support and the last swing low. A new monthly low was formed near $7,828 and the price is currently correcting higher. An immediate resistance for bitcoin is near the $7,920 level. It represents the 23.6% Fib retracement level of the recent decline from the $8,221 high to $7,828 low. The first key resistance on the upside is near the $8,000 level (the recent breakdown support). Review previous articles:https://email@example.com
Encrypted project calendar（November 21, 2019）
Cardano (ADA):and 2 others 21 November 2019 Meetup Netherlands (AMS) “This meetup is all about how to decentralize a blockchain, the problems and differences between Proof-of-Work and Proof-of-Stake…”Cappasity (CAPP):21 November 2019 Virtuality Paris 2019 “Cappasity to demonstrate its solution for the interactive shopping experience at Virtuality Paris 2019.”Horizen (ZEN):21 November 2019 Weekly Insider Team updates at 3:30 PM UTC/ 11:30 AM EDT: Engineering, Node network, Product/UX, Helpdesk, Legal, BD, Marketing, CEO Closing thoughts, AMA.OKB (OKB):21 November 2019 OKEx Talks — Johannesburg “Join us the largest city of South Africa — Johannesburg where we will host our OKEx Talks on the 21st Nov.”IOST (IOST):22 November 2019 Singapore Workshop Join the Institute of Blockchain for their 2nd IOST technical workshop in Singapore on 22 Nov 2019. The workshop includes IOST’s key tech.OKB (OKB):22 November 2019 St. Petersberg Talks “Join us in St. Petersberg on 22 Nov as we answer your questions on Crypto Security. “NEM (XEM):21 November 2019 SME Thought Leadership “SME Thought Leadership Series Forum #2” in Selangor, Malaysia from 8:30 AM — 2:30 PM.Stellar (XLM):21 November 2019 NYC Meetup “Stellar Blockchain Meetup ft. FIC Network and Sam Conner’s Meridian Recap” in NYC from 6–8 PM.Waves (WAVES):21 November 2019 Edinburgh Workshop “Next Thursday, we’re running a practical workshop on building DeFi products & designing Smart Contracts in your city!”
Encrypted project calendar（November 22, 2019）
IOST (IOST):22 November 2019 Singapore Workshop Join the Institute of Blockchain for their 2nd IOST technical workshop in Singapore on 22 Nov 2019. The workshop includes IOST’s key techOKB (OKB):22 November 2019 St. Petersberg Talks “Join us in St. Petersberg on 22 Nov as we answer your questions on Crypto Security. “Zenon (ZNN):22 November 2019 Awareness Fund Payout “Distribution of the fund takes place every Friday until Pillars Lock-in Phase is completed.”
Encrypted project calendar（November 23, 2019）
Californium (CF)and 1 other: 23 November 2019 Greece Meetup “On November 23, the Greek #Cryptocurrency Community Meetup will take place in Greece!”
Encrypted project calendar（November 25, 2019）
0x (ZRX):25 November 2019 0x V3 Proposal Live “The 0x v3 proposal was approved and will go live on Ethereum mainnet starting November 25th!”Dynamic Trading Rights (DTR):25 November 2019 Chain Migration “On November 25 at 23:00 CET, TokensNet will make a migration of the $ELI token from Ethereum blockchain to Bitcoin Cash blockchain…”
Encrypted project calendar（November 27, 2019）
OKB (OKB):27 November 2019 OKEx Cryptour Vinnytsia “Join us in Vinnytsia as we journey through Ukraine for our OKEx Cryptour!”Fetch.ai (FET):27 November 2019 London Meetup “Join us on 27 November@primalbasehqto hear an exciting progress report as we prepare for the launch of our #mainnet”
Encrypted project calendar（November 28, 2019）
Horizen (ZEN):28 November 2019 Weekly Insider Team updates at 3:30 PM UTC/ 11:30 AM EDT: Engineering, Node network, Product/UX, Helpdesk, Legal, BD, Marketing, CEO Closing thoughts, AMA.
Encrypted project calendar（November 29, 2019）
Zenon (ZNN):29 November 2019 Awareness Fund Payout “Distribution of the fund takes place every Friday until Pillars Lock-in Phase is completed.”
Encrypted project calendar（November 30, 2019）
Ethos (ETHOS):30 November 2019 (or earlier) Rebranding “In November, we unveil the broker token, a dynamic utility token to power our commission-free crypto trading and broker platform, Voyager.”Digitex Futures (DGTX):30 November 2019 Public Testnet Launch “…We can expect to see the world’s first zero-commission futures trading platform live on the Ethereum public testnet from 30th November.”Monero (XMR):30 November 2019 Protocol Upgrade “Preliminary information thread regarding the scheduled protocol upgrade of November 30.”Chiliz (CHZ):30 November 2019 (or earlier) Fiat to CHZ Exchanges “We will add another two fiat to $CHZ exchanges in November…”Skrumble Network (SKM):30 November 2019 (or earlier) P2P & Group Calling “P2P & Group Video Calling,” during November 2019.Aergo (AERGO):30 November 2019 (or earlier) Mainnet 2.0 Upgrade Mainnet 2.0 Protocol update by end of November.Akropolis (AKRO):30 November 2019 (or earlier) Beta Release “All functionality has been deployed to mainnet.”Nash Exchange (NEX):30 November 2019 (or earlier) Mobile Strategy Phase 2 “Phase 2 of our mobile strategy will be live soon with our wallet and portfolio app hitting stores in November!”Akropolis (AKRO):30 November 2019 (or earlier) Beta Release “All functionality has been deployed to mainnet.”Pakcoin (PAK):30 November 2019 Staking Mobile App Android app for staklet is going to be launched on November 30th.
Encrypted project calendar（December 1, 2019）
Auxilium (AUX):01 December 2019 AUX Interest Distribution Monthly interest distribution by Auxilium Interest Distribution Platform for coinholders. Also supports charity.I/O Coin (IOC):01 December 2019 Pos Reward Halving IOC block reward halving is happening on December 1st 2019.
Encrypted project calendar（December 2, 2019）
Bitcoin (BTC):02 December 2019 CME Futures BTCX19 Bitcoin Futures Contract (BTCX19) settles on December 02, 2019.Waves (WAVES):02 December 2019 Waves Exchange Launch “As of November 18, users will be able to import their accounts and seed phrases, and, on December 2, the new exchange will be launched.”BZLCOIN (BZL):02 December 2019 New Website New website and pre-launch “Patron”.Decentraland (MANA):02 December 2019 Creator Contest “Announcing the Creator Contest, from Dec 2–15. Submit your most creative interactive scenes for a share of $50k USD worth of prizes up.”
Encrypted project calendar（December 3, 2019）
Aeternity (AE):03 December 2019 Sofia, Bulgaria Meetup “Come hear@noyyyand@emintroducing the project, followed by talks by Karol Skočik, Juraj Hlista, and Stephan Verbücheln.”
Encrypted project calendar（December 5, 2019）
***OKB (OKB)：***05 December 2019 OKEx Cryptour Kyiv Ukr “Join us in Kyiv as we journey through Ukraine for our OKEx Cryptour!”
Encrypted project calendar（December 6, 2019）
TenX (PAY):06 December 2019 COMIT Hackathon “The #hackathon will be held over the weekend of 6–8 Dec at the TenX HQ in Singapore.”
Global distributed (P2P) crypto tradeLocalBitcoins Clone will before long become directed by the Financial Supervisory Authority of Finland, as the firm declared on its blog on March 25. Helsinki-based LocalBitcoins Clone composed that the Finnish Parliament endorsed new enactment that will give a lawful status to digital money resources on March 13, 2019. The authority has passed a proposition for another Act on Virtual Currency Service Providers that is relied upon to come into power in November 2019. The parliament likewise decided in favor of a change to the Act on Detecting and Preventing Money Laundering and Terrorist Financing that will bring all crypto-related administrations, for example, wallet suppliers and trades under Anti-Money Laundering (AML) laws. As indicated by LocalBitcoins, the reception of the demonstrations will add to open acknowledgment of crypto by exhibiting significant digital currency Bitcoin (BTC) as a reasonable and genuine money related system. Alongside the administrative declaration, LocalBitcoins likewise expressed that it is creating apparatuses to build consistence with controllers. On March 18, LocalBitcoins Clonepropelled another record enrollment process, and is presently taking a shot at an increasingly proficient and safe character check procedure. The organization noticed that corporate records will experience a different check process. Already, Cointelegraph announced that a crypto trade and wallet administration in Finland was encountering issues with neighborhood banks that wouldn’t work with crypto-related organizations. In particular, Prasos stage turned into a subject of worries among the banks, with in any event four banks declining to manage the substance. Not long ago, Cointelegraph likewise investigated a hack assault that prompted a phishingLocalBitcoins clone site connection being posted on the authority LocalBitcoins discussion. Thus, the supposed aggressors purportedly figured out how to take around $28,000 worth of Bitcoin at the hour of the report.
Daily analysis of cryptocurrencies 20191023(Market index 33 — Fear state)
https://preview.redd.it/folaa2ztw9u31.jpg?width=1200&format=pjpg&auto=webp&s=a0aaa8476acb68252087ddf0558d293b5a9a9392 Germany Warns Of Privacy Token Usage In Money Laundering And Terrorism According to Cointelegraph, the German Federal Ministry of Finance has expressed concerns about rising use of privacy tokens due to their association with criminal activities and difficulties in tracking them. Published on Oct 19, the ministry’s “First Money Laundering and Terrorist Financing National Risk Assessment” for 2018–2019 provided analysis aimed at the identification of existing and future risks in the field of anti-money laundering (AML) and terrorism financing (TF) in Germany. Among other challenges, the report examines circulation of cryptocurrencies in the darknet for criminal purposes. State Probe Of Facebook Expands To 47 Attorneys General According to Reuters news flash, the state probe of Facebook on allegations that the company put consumer data at risk and pushed up advertising rates has expanded to attorneys general from 47 states and territories, New York Attorney General Letitia James said on Tuesday, October 22 in a statement. Bank Of Lithuania Becomes First Market Regulator To Issue Guidelines On STOs According to coinpage, Bank of Lithuania has become the first of market regulators to issue guidelines on STOs. The new guidelines are focussed on the classification of security tokens, assessing specific cases and providing recommendations related to the issue of the security tokens and also clarify on applicable legal regulation. Furthermore, enterprises planning to use the STO method will need to comply with EU and national legislation regulating capital-raising activities. TBCASoft, IBM And SoftBank Announced A Mobile Payment Blockchain Blockchain platform TBCASoft, technology behemoth IBM and telecommunications conglomerate SoftBank announced on Oct 22 a collaboration to adopt a cross-carrier telecommunications blockchain payment solution.
Encrypted project calendar（October 23, 2019）
MIOTA/IOTA:IOTA (MIOTA) IOTA will host a community event on October 23rd at the University of Southern California in Los Angeles with the theme “Connecting the I3 Market and Experiencing Purchase and Sales Data.”BTC/Bitcoin:The WBS World Blockchain Summit (Middle East) will be held in Dubai from October 23rd to 24th.Cardano (ADA) and 1 other:23 October 2019 WBS Dubai “One of a kind gathering of 500+ curated & pre-qualified investors, CEOs, CIOs, CTOs, Heads of Blockchain, Chief Digital OfficersCloakCoin (CLOAK):23 October 2019 (or earlier) CloakCoin Competition “CloakCoin competition : solve the CloakCoin ENIGMA transaction, 3rd round.”Loom Network (LOOM):23 October 2019 Singapore Meetup “Unstack the Stack Series: Loom Network” from 6:30–8:30 PM (SST).BTGS/Bitdog:ZG.COM will open the BTGS currency and coin transfer business at 14:00 on October 23, and open the BTGS/USDT transaction pair on October 23 at 18:18.Waltonchain (WTC):23 October 2019 Transfers Suspended “$WTC deposits and withdrawals on #TaibiExchange will be suspended from 00:00 Oct 22 (UTC+8) and are estimated to resume at 15:00 Oct 23
Encrypted project calendar（October 24, 2019）
BCN/Bytecoin:Bytecoin (BCN) released the hidden amount of the Bytecoin block network on October 24.Horizen (ZEN):24 October 2019 Weekly Insider Team updates at 3:30 PM UTC/ 11:30 AM EDT: Engineering, Node network, Product/UX, Helpdesk, Legal, BD, Marketing, CEO Closing thoughts, AMA.ANT/Aragon: Aragon (ANT) Aragon Network will hold the theme “DAO: ICO and DeFi next step” in Hong Kong on October 24th?DATA/Streamr DATAcoin:Streamr DATAcoin (DATA) Streamr Network Technology Exchange and Project Development Conference will be held in London on October 24th.Lisk (LSK):24 October 2019 Coding Workshop — Berlin “During this workshop you will acquire the skills to create custom transactions with the Lisk Alpha SDK using Node.js.”BTU Protocol (BTU)：24 October 2019 Africa IT Expo “Our co-founder@vidal007will be speaking at upcoming@africa_aitex[African IT Expo] held in #Rabat #Morocco on 24th of October.”Matrix AI Network (MAN)：24 October 2019 YouTube AMA YouTube AMA from 3PM, October 24 (GMT+8).Utrum (OOT)：24 October 2019 AtomicDex Listing “We are pleased to announce that Utrum coin OOT is getting listed on Komodo Platform Decentral Exchange — AtomicDEX. “
Encrypted project calendar（October 25, 2019）
ADA/Cardano:Cardano (ADA) The Ada community will host a community gathering in the Dominican Republic for the first time on October 25.Crypto.com Coin (CRO):25 October 2019 Live AMA with CEO “Live AMA with our CEO@Kris_HKon@cryptocom’s Twitter next Friday, 25 October, 11AM HKT.”GST/GSTCOIN:GSTCOIN(GST)LBank will be online GST on October 25, 2019 at 16:00 (UTC+8), open trading pair: GST/USDT, GST/ETH.
Encrypted project calendar（October 26, 2019）
KAT/Kambria:Kambria (KAT) Kambria will host the 2019 Southern California Artificial Intelligence and Data Science Conference in Los Angeles on October 26th with IDEAS.BTC/Bitcoin:CoinAgenda Global Summit will be held in Las Vegas from October 26th to 28thHorizen (ZEN):26 October 2019 (or earlier) ZEN 2.0.19 Upgrade Zen 2.0.19 upgrade at block #610000, which is expected around October 26.
Encrypted project calendar（October 27, 2019）
ICON (ICX):27 October 2019 Money 20/20 USA Event Money 20/20 USA in Las Vegas from October 27–30.
Encrypted project calendar（October 28, 2019）
LTC/Litecoin:Litecoin (LTC) 2019 Litecoin Summit will be held from October 28th to October 29th in Las Vegas, USABTC/Bitcoin:Mt.Gox changes the debt compensation plan submission deadline to October 28ZEC/Zcash:Zcash (ZEC) will activate the Blossom Agreement on October 28thStellar (XLM):28 October 2019 Protocol 12 Upgrade Vote Horizon v0.22.0 has been released, which supports Protocol 12. This gives everyone ample time to prepare for the Protocol 12 upgrade voteCelsius (CEL)and 3 others: 28 October 2019 Litecoin Summit “…The Litecoin Summit offers two fun, jam-packed days with something for everyone.”XFOC (XFOC):The IDAX platform will be online XFOC and will open the XFOC/USDT trading pair at 13:00 on October 28.MEDIUM (MDM):The IDAX platform lists MDM and will open MDM/BTC trading pairs on October 28th at 15:00.ZB/ ZB Blockchain:The “2019 Hamburg Intercontinental Dialogue Conference” hosted by ZB.com will be held from October 28th to November 9th at the Four Seasons Hotel Hamburg, Germany.BQT (BQTX)：28 October 2019 Down for Maintenance BQTX.com will be down for maintenance on the 28th of October from 7 to 12am UTC.
Encrypted project calendar（October 29, 2019）
BTC/Bitcoin:The 2nd World Encryption Conference (WCC) will be held in Las Vegas from October 29th to 31st.ICON (ICX):29 October 2019 Decentralization “As a result, the decentralization schedule of the ICON Network has been changed from September 24, 2019 to October 29, 2019.”Ark (ARK):and 10 others 29 October 2019 WCC 2019 Second annual Blockchain and Cryptocurrency Technology event, World Crypto Conference (WCC), October 29th — October 31, 2019.Insifa (ISF):29 October 2019 Prototype Alpha “We from Insifa have decided to be more open. Our Prototype will be developed in scrum. This means new releases every two weeks.”
Encrypted project calendar（October 30, 2019）
MIOTA/IOTA:IOTA (MIOTA) IOTA will host a community event on October 30th at the University of Southern California in Los Angeles on the topic “How to store data on IOTA Tangle.”TRON (TRX):30 October 2019 SFBW19 Afterparty “TRON Official SFBW19 Afterparty from 7–10:30 PM in San Francisco.”Horizen (ZEN):30 October 2019 Horizen Quarterly Update Join our first Quarterly Update on October the 30th at 5 PM UTC/ 1 PM EST. Deeper look into Engineering, BD, Marketing, and more.Aeternity (AE):30 October 2019 Hardfork “The third hardfork of the æternity Mainnet is scheduled for October 30, 2019.”Valor Token (VALOR):30 October 2019 Transaction Fees Resume “It’s September and the SMART VALOR Platform is still waiving transaction fees for all members, until October 30th!”Aragon (ANT):30 October 2019 Singapore Meetup “Aragon on DAOs and DeFi” from 6:30–8:30 PM.Kambria (KAT):30 October 2019 Outliers Hashed Awards Outliers Hashed awards from October 30–31.Ethereum Classic (ETC):30 October 2019 Cohort Demo Day “ETC Labs hosts it’s 2nd Cohort Demo Day. Learn about the companies and project being accelerated through the Ethereum Classic ecosystem.”
Encrypted project calendar（October 31, 2019）
Spendcoin (SPND):31 October 2019 (or earlier) Cross Ledger Mainnet “Cross Ledger Mainnet Release and SPND Token Swap,” during October 2019.Spendcoin (SPND):31 October 2019 (or earlier) Blkchn University Beta “Blockchain University Beta goes live,” during October 2019.Stellar (XLM):31 October 2019 (or earlier) Minor Release “We will have 6 Minor Releases in 2019; one each in February, March, May, June, August, and October.”Bitcoin SV (BSV):31 October 2019 (or earlier) BSV Conference Seoul No additional information.Seele (SEELE):31 October 2019 (or earlier) Public Network Mainne launch has been moved to Oct 31 .Howdoo (UDOO):31 October 2019 (or earlier) Howdoo Live on Huawei Howdoo begins its exciting partnership with Huawei with listing as a featured app starting in October.Chiliz (CHZ):31 October 2019 (or earlier) App Soft Launch Soft launch of Socios App by end of October.Dent (DENT):31 October 2019 (or earlier) Loyalty Program “Afterburner loyalty program launch for all 21,6 Million mobile #DENT users will be in October!”IceChain (ICHX):31 October 2019 (or earlier) Wallet Release IceChain releases wallet during October.Chiliz (CHZ):31 October 2019 (or earlier) New Partnerships New sports and new teams joining Socios (+more updates and events) will be announced in the upcoming weeks.Horizen (ZEN):31 October 2019 Weekly Insider Team updates at 3:30 PM UTC/ 11:30 AM EDT: Engineering, Node network, Product/UX, Helpdesk, Legal, BD, Marketing, CEO Closing thoughts, AMA.PCHAIN (PI):31 October 2019 (or earlier) New Website No additional information.IOST (IOST):31 October 2019 (or earlier) New Game on IOST “Eternal Fafnir, a new role-playing game developed by INFUN is coming to you in Oct.”Achain (ACT)：31 October 2019 Mainnet 2.0 Launch “… The main network is officially scheduled to launch on October 31.”Mithril (MITH)：31 October 2019 Burn “MITH burn will take place on 2019/10/31 2pm UTC+8. “Aergo (AERGO)：31 October 2019 (or earlier) Aergo Lite V1.0 Release AergoLite, which brings blockchain compatibility to billions of devices using SQLite, released during October 2019.TE-FOOD (TFD)：31 October 2019 (or earlier) Complementary Product “Development of a new, complementary product with a new partner, which we hope to be launched in September-October.”Edge (DADI)：31 October 2019 (or earlier) Full Open Source Code base for the network fully open-sourced in September or October.BlockStamp (BST)：31 October 2019 (or earlier) ASIC Miner Prototype In orderr to ensure BlockStamps continued decentralization, we will release a BST ASIC miner for testing.Perlin (PERL)：31 October 2019 (or earlier) SSA Partnership “Perlin has partnered with the Singapore Shipping Association to create the International E-Registry of Ships (IERS)”Skrumble Network (SKM)：31 October 2019 (or earlier) Exchange Release “3rd dApp: Exchange Release,” during October 2019.EDC Blockchain (EDC)：31 October 2019 (or earlier) Blockchain Marketplace “As you already know, our ECRO blockchain marketplace is ready for release, and will open to the global community in October!”BlockStamp (BST)：31 October 2019 (or earlier) ASIC Miner Prototype In orderr to ensure BlockStamps continued decentralization, we will release a BST ASIC miner for testing.XinFin Network (XDCE)：31 October 2019 Homebloc Webinar “XinFin — Homebloc Webinar 2019” from 9–10 PM.Akropolis (AKRO)：31 October 2019 (or earlier) Alpha Release “Delivers the initial mainnet implementation of protocol. All building blocks will be united to one product.”Hyperion (HYN)：31 October 2019 (or earlier) Economic Model The final version of the HYN Economic Model launches in October.
Encrypted project calendar（November 1, 2019）
INS/Insolar:The Insolar (INS) Insolar wallet and the redesigned Insolar Block Explorer will be operational on November 1, 2019.VeChain (VET)：”01 November 2019 BUIDLer Reunion Party BUIDLer Reunion Party in San Francisco from 8–11 PM.uPlexa (UPX)：01 November 2019 Steadfast Storm — PoS/PoW split (Utility nodes ie. master nodes) — Upcoming Anonymity Network much like TOR — Privacy-based DApps — Reduced network fees.Enjin Coin (ENJ)：01 November 2019 MFT Binding “ICYMI: On Enjin Coin’s 2nd anniversary (November 1), Enjin MFTs will be bound to hodlers’ blockchain addresses…”Auxilium (AUX)：01 November 2019 AUX Interest Distribution Monthly interest distribution by Auxilium Interest Distribution Platform for coinholders. Also supports charity.Havy (HAVY)：01 November 2019 Token Buyback “Havy tokens buyback, Only in 1 exchange between Idex, Mercatox & Hotbit. The exchange depends on the most lower sell wall.”
Encrypted project calendar（November 2, 2019）
Kambria (KAT)：02 November 2019 VietAI Summit 2019 Kambria joins forces with VietAI for the annual VietAI Summit, with top experts from Google Brain, NVIDIA, Kambria, VietAI, and more!
Encrypted project calendar（November 4, 2019）
Stellar (XLM)：04 November 2019 Stellar Meridian Conf. Stellar Meridian conference from Nov 4–5 in Mexico City.Cappasity (CAPP)：04 November 2019 Lisbon Web Summit Lisbon Web Summit in Lisbon, Portugal from November 4–7.
Encrypted project calendar（November 5, 2019）
Nexus (NXS)：05 November 2019 Tritium Official Release “Remember, Remember the 5th of November, the day Tritium changed Distributed Ledger. Yes, this is an official release date.”NEM (XEM)：05 November 2019 Innovation Forum — Kyiv NEM Foundation Council Member Anton Bosenko will be speaking in the upcoming International Innovation Forum in Kyiv on November 5, 2019.
Encrypted project calendar（November 6, 2019）
STEEM/Steem:The Steem (STEEM) SteemFest 4 conference will be held in Bangkok from November 6th to 10th.KIM/Kimcoin:Kimcoin (KIM) Bitfinex will be online at KIM on November 6, 2019 at 12:00 (UTC).
Encrypted project calendar（November 7, 2019）
XRP (XRP)： 07 November 2019 Swell 2019 Ripple hosts Swell from November 7th — 8th in Singapore.BTC/Bitcoin:Malta The A.I. and Blockchain summit will be held in Malta from November 7th to 8th.
Encrypted project calendar（November 8, 2019）
BTC/Bitcoin:The 2nd Global Digital Mining Summit will be held in Frankfurt, Germany from October 8th to 10th.IOTX/IoTeX:IoTex (IOTX) will participate in the CES Expo on November 08
Encrypted project calendar（November 9, 2019）
CENNZ/Centrality:Centrality (CENNZ) will meet in InsurTechNZ Connect — Insurance and Blockchain on October 9th in Auckland.
Encrypted project calendar（November 11, 2019）
PAX/Paxos Standard:Paxos Standard (PAX) 2019 Singapore Financial Technology Festival will be held from November 11th to 15th, and Paxos Standard will attend the conference.
Encrypted project calendar（November 12, 2019）
BTC/Bitcoin:The CoinMarketCap Global Conference will be held at the Victoria Theatre in Singapore from November 12th to 13th
Global distributed (P2P) crypto tradeLocalBitcoins Clone will before long become directed by the Financial Supervisory Authority of Finland, as the firm declared on its blog on March 25. Helsinki-based LocalBitcoins Clone composed that the Finnish Parliament endorsed new enactment that will give a lawful status to digital money resources on March 13, 2019. The authority has passed a proposition for another Act on Virtual Currency Service Providers that is relied upon to come into power in November 2019. The parliament likewise decided in favor of a change to the Act on Detecting and Preventing Money Laundering and Terrorist Financing that will bring all crypto-related administrations, for example, wallet suppliers and trades under Anti-Money Laundering (AML) laws. As indicated by LocalBitcoins, the reception of the demonstrations will add to open acknowledgment of crypto by exhibiting significant digital currency Bitcoin (BTC) as a reasonable and genuine money related system. Alongside the administrative declaration, LocalBitcoins likewise expressed that it is creating apparatuses to build consistence with controllers. On March 18, LocalBitcoins Clonepropelled another record enrollment process, and is presently taking a shot at an increasingly proficient and safe character check procedure. The organization noticed that corporate records will experience a different check process. Already, Cointelegraph announced that a crypto trade and wallet administration in Finland was encountering issues with neighborhood banks that wouldn’t work with crypto-related organizations. In particular, Prasos stage turned into a subject of worries among the banks, with in any event four banks declining to manage the substance. Not long ago, Cointelegraph likewise investigated a hack assault that prompted a phishing LocalBitcoins clone site connection being posted on the authority LocalBitcoins discussion. Thus, the supposed aggressors purportedly figured out how to take around $28,000 worth of Bitcoin at the hour of the report.
Global distributed (P2P) crypto tradeLocalBitcoins Clone will before long become directed by the Financial Supervisory Authority of Finland, as the firm declared on its blog on March 25. Helsinki-based LocalBitcoins Clone composed that the Finnish Parliament endorsed new enactment that will give a lawful status to digital money resources on March 13, 2019. The authority has passed a proposition for another Act on Virtual Currency Service Providers that is relied upon to come into power in November 2019. The parliament likewise decided in favor of a change to the Act on Detecting and Preventing Money Laundering and Terrorist Financing that will bring all crypto-related administrations, for example, wallet suppliers and trades under Anti-Money Laundering (AML) laws. As indicated by LocalBitcoins, the reception of the demonstrations will add to open acknowledgment of crypto by exhibiting significant digital currency Bitcoin (BTC) as a reasonable and genuine money related system. Alongside the administrative declaration, LocalBitcoins likewise expressed that it is creating apparatuses to build consistence with controllers. On March 18, LocalBitcoins Clone propelled another record enrollment process, and is presently taking a shot at an increasingly proficient and safe character check procedure. The organization noticed that corporate records will experience a different check process. Already, Cointelegraph announced that a crypto trade and wallet administration in Finland was encountering issues with neighborhood banks that wouldn’t work with crypto-related organizations. In particular, Prasos stage turned into a subject of worries among the banks, with in any event four banks declining to manage the substance. Not long ago, Cointelegraph likewise investigated a hack assault that prompted a phishingLocalBitcoins clone site connection being posted on the authority LocalBitcoins discussion. Thus, the supposed aggressors purportedly figured out how to take around $28,000 worth of Bitcoin at the hour of the report.
Global distributed (P2P) crypto tradeLocalBitcoins Clone will before long become directed by the Financial Supervisory Authority of Finland, as the firm declared on its blog on March 25. Helsinki-based LocalBitcoins Clone composed that the Finnish Parliament endorsed new enactment that will give a lawful status to digital money resources on March 13, 2019. The authority has passed a proposition for another Act on Virtual Currency Service Providers that is relied upon to come into power in November 2019. The parliament likewise decided in favor of a change to the Act on Detecting and Preventing Money Laundering and Terrorist Financing that will bring all crypto-related administrations, for example, wallet suppliers and trades under Anti-Money Laundering (AML) laws. As indicated by LocalBitcoins, the reception of the demonstrations will add to open acknowledgment of crypto by exhibiting significant digital currency Bitcoin (BTC) as a reasonable and genuine money related system. Alongside the administrative declaration, LocalBitcoins likewise expressed that it is creating apparatuses to build consistence with controllers. On March 18, LocalBitcoins Clone propelled another record enrollment process, and is presently taking a shot at an increasingly proficient and safe character check procedure. The organization noticed that corporate records will experience a different check process. Already, Cointelegraph announced that a crypto trade and wallet administration in Finland was encountering issues with neighborhood banks that wouldn’t work with crypto-related organizations. In particular, Prasos stage turned into a subject of worries among the banks, with in any event four banks declining to manage the substance. Not long ago, Cointelegraph likewise investigated a hack assault that prompted a phishing LocalBitcoins clone site connection being posted on the authority LocalBitcoins discussion. Thus, the supposed aggressors purportedly figured out how to take around $28,000 worth of Bitcoin at the hour of the report.
A risk assessment report released by the Financial Information Unit (FIU) found banks more vulnerable to money laundering and terrorist financing risks than cryptocurrencies, Business Korea reported.. The division of South Korea’s Financial Services Commission researched its domestic financial sector, which includes banks, securities companies, insurers, mutual financing companies, credit Traditional financing methods continue to present the most significant terrorist financing risks. In a separate report, FATF also published guidance for a risk-based approach to virtual currencies. Nowhere is the alarm raised that Bitcoin is more of a risk than other methods. As the battle for acceptance into mainstream economics rage on, the cryptocurrency ecosystem continues to face daunting regulatory challenges. And as far as financial regulatory p President Trump reportedly told his Treasury Secretary to go after Bitcoin while the DEA failed to properly oversee crypto investigations. Home Events Mining Pools Wallets Dictionary Advertise Facebook Twitter Telegram Reddit Youtube. Market Cap: 24h Vol: Cryptocurrencies: 2942. The Bitcoin Abuse Database has also identified the wallet as a Hamas fundraising account, and it’s believed that the Islamic National Bank has been associated with funds sent to the wallet.
Bitcoin anonymous banking with Dark Wallet: make anonymous Bitcoin payments with Dark Wallet App
AML BitCoin was promoted on social platforms and forums as a superior version of Bitcoin (BTC) that offered integrated protections against money-laundering, terrorist financing, and theft risks ... 8.Oct 2015, Since 2009 when Bitcoin started the crypto currency phenomenon, we have become fascinated by the concept of digital money and how it can have intrinsic value without any physical coin ... Money Laundering 101 💰 How Criminals Use Bitcoin To Hide Illegal Money 🔫💎🗡 - Duration: 16:33 ... Counterterrorism Financing and Financial Crime - Duration: 1:03:31 ... Individual transactions are saved in wallets which have been previously hacked by hackers. i.e. bitcoins can be stolen from someones wallet. ... Money laundering, Crime, Financing terrorism ... In May 2020, a Goldman Sachs investor report argued that Bitcoin is not an investable asset, citing criminal usage. However, major banks often facilitate money laundering and terrorism financing.