• Financially illiterate own crypto
    Canada,  Cryptocurrencies,  Regulation

    Report: Financially illiterate more likely to own crypto

    Bank of Canada survey finds consumers with a low level of financial literacy are twice as likely to own crypto as those with high levels

    For the second consecutive year, the study “found that awareness of Bitcoin increased with financial literacy, but the likelihood of ownership declined as the level of financial literacy increased.”

  • ransomware attack kills hospital patient
    Bitcoin

    German ransomware attack kills hospital patient

    A female patient’s death may have been the first fatality attributable to this kind of cybersecurity attack

    On Sept. 9, a ransomware attack took over the hospital’s computer systems, making them inoperable. A female patient scheduled for a lifesaving procedure had to be transferred to another hospital 19 miles away in Wuppertal. She died during the trip.

  • stablecoin bank runs
    Europe,  Regulation

    ECB fears stablecoin ‘bank runs’

    According to the European Central Bank, a panicked “stablecoin run’ could cause damage that spreads into the traditional banking and financial system

    Specifically, the ECB said stablecoins are vulnerable to so-called liquidity “runs” if consumers fear that the token may lose its value. In such instances, the stablecoin may stop functioning normally and its redemption may not be possible in the usual way.

  • Venezuela centralizes bitcoin mining
    Bitcoin,  Politics

    Venezuela centralizes bitcoin mining

    A new decree by the economically devastated country would force all Bitcoin miners into a national pool, with mining rewards distributed by the government

    The Venezuelan government’s ideology of centralized control of the economy has led to its collapse into hyperinflation. Now Nicolas Maduro’s regime is bringing that philosophy to the decentralized world of Bitcoin mining.

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