• Bitcoin,  People,  Uncategorized

    ‘Bitcoin is better at being gold than gold’: SkyBridge Capital’s Scaramucci

    Wall Street Star Anthony Scaramucci also said that if the new digital gold’s market cap reaches just half of old yellow gold’s—about $5 trillion—BTC’s value would increase tenfold

    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.

  • FinCEN wallet rule
    Cryptocurrencies,  Politics,  Regulation

    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.

  • CipherTrace Bankers worried AML
    Cryptocurrencies,  Regulation

    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.

  • covid increase bitcoin crime
    Alt coins,  Bitcoin

    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.”