Scaramucci is the latest traditional finance heavyweight to join the ranks of open Bitcoin proponents. As Modern Consensus reported in mid-December, the participation of institutional investors and big-name investors is the main reason why many believe this Bitcoin bull run to be different from the previous ones.
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U.S. Treasury Secretary Steven Mnuchin wants to regulate wallets on his way out the door (Photo: Wikipedia).FinCEN drops ‘midnight rule’ regulating private crypto wallets
U.S. Treasury Department’s Financial Crimes Enforcement Network issued a proposal requiring exchanges to collect personal data from self-hosted wallets
Essentially, what FinCEN wants is to require banks, cryptocurrency exchanges, and other money services businesses (MSB) to collect identifying data about anyone who wants to transfer $3,000 or more to or from an “unhosted” wallet.
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CipherTrace: Bankers worried by inability to detect crypto payments
With growing legal and regulatory attention on anti-money-laundering laws, the blockchain intelligence firm found 80% of bankers fear sanction violations
The IRS, FBI and other U.S. law enforcement agencies may be trumpeting their success in breaking up everything from child porn rings to al-Qaeda funders, but bankers are not so confident in their ability to even detect crypto-related transactions.
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COVID-induced poverty will increase Bitcoin crime: Kaspersky
The cybersecurity giant also expects cybercriminals to begin using the top privacy coin Monero more
Kaspersky explains that the remote work solutions that the companies were forced to hastily set up amid the coronavirus pandemic have introduced vulnerabilities to their systems. The situation was reportedly so bad that “some literally did not even have enough laptops to provide to their employees” and “had to purchase whatever they found on the retail market, even if the machines did not comply with the security standards of the organization.”
