Virtual Currency And Blockchain

Featured Virtual Currency And Blockchain

An overview of the use of cryptocurrencies in terrorist financing

Following the fall of the elected Afghan government and rise of the Taliban in its place, many speculated that the group had or may turn to cryptocurrencies as a way to finance its operations. As part of our compliance program, Coinbase tracks these types of transactions and often… Read More

Crypto Channels Targeted in Biden’s Fight Against Ransomware

The Biden administration plans a fresh campaign against ransomware attacks through sanctions to cut off criminals’ cryptocurrency pipelines, and it urged companies to report extortion attempts and better protect themselves from them. Deputy Treasury Secretary Wally Adeyemo told reporters that the sanctions would be imposed on Suex, a cryptocurrency transferring… Read More

Bitcoin ledger as a secret weapon in war against ransomware

Ransomware, malicious software that encrypts computers and keeps them “locked” until a ransom is paid, is the world’s fastest-growing cyber threat, according to Coinfirm. Recent attacks on critical national infrastructure, like the Colonial Pipeline incursion that crippled oil and gas deliveries for a week along the U.S. East Coast, have… Read More
15th September 2021
The Strategy for the Development of the Financial Market of the Russian Federation by 2030 was released this week by the Ministry of Finance. The plan is open for public discussions between Sept. 14 and Oct. 13, 2021, according to a notice published by the State Automated… Read More
14th September 2021
A digital euro, currently under design by the European Central Bank, should have a limited role initially as it could disrupt the bank sector and overly extend the role of central banking, Bundesbank President Jens Weidmann said on Tuesday. “A gradual approach might make sense given the risks involved –… Read More
13th September 2021
The U.K. government has drawn up an action plan aimed to combat financial crimes that it says will include “action on cryptoassets.” The new Economic Crime Plan from H.M. Treasury and the Home Office is aimed to overhaul the the way economic crime is tackled, building better cooperation between government,… Read More
12th September 2021
Two of Australia’s largest lenders, National Australia Bank (NAB) and Westpac, on Thursday rejected criticism that they are stymieing competition by refusing to do business with cryptocurrency providers. Many of Australia’s top financial institutions have not engaged with the sector, despite its huge growth in the past year, due to… Read More
8th September 2021
A United Arab Emirates committee tasked with fighting money laundering has endorsed a regulatory framework for virtual assets, the Gulf state’s central bank said on Wednesday. The National Committee for Combating Money-Laundering and Financing of Terrorism and Illegal Organisations has “announced the adoption of a regulatory framework for virtual assets… Read More
7th September 2021
Some 24 companies have renounced their licences to operate in Malta since the country was greylisted by the Financial Action Task Force, compounding uncertainty in the financial services industry, the Nationalist Party said on Monday. During a press conference outside the MFSA in Mrieħel, chief PN spokesperson Peter Agius,… Read More
7th September 2021
The pleasures and potential pitfalls of being related to Britain’s prime minister quickly become clear when Maximilian Johnson begins to speak of the predicament he is facing in, of all places, a Mongolian goldmine near the Gobi desert. Boris Johnson’s younger half-brother is battling to save a multimillion-pound investment gone… Read More
7th September 2021
El Salvador bought its first 200 bitcoins on Monday ahead of formally adopting the cryptocurrency as legal tender. The country’s president, Nayib Bukele announced the purchase on Twitter, adding that more would be purchased in the coming days. He said: “El Salvador has just bought it’s first 200… Read More
7th September 2021
Cryptocurrency exchange Binance will not offer products in Singapore dollars and will stop all online communication operations in the country by Friday, after a warning from the local regulator, according to an announcement on the company’s website on Sunday. The company outlined it will stop trading cryptocurrency pairs and… Read More
6th September 2021
Central banks in Australia, Singapore, Malaysia and South Africa will conduct a cross border payments trial using different central bank digital currencies (CBDC) to assess if this allows transactions to be settled more cheaply and easily, the banks said on Thursday. Many governments and central banks around the world are… Read More