• Alt coins

    Privacy in Crypto

    What makes projects like Monero and Zcash different from other networks?

    The controversy around these tokens Not everyone loves the idea of totally private transactions. Private crypto networks can be tools for criminals, money launderers, or darknet users to transfer funds anonymously. This Slate article from November about Monero is titled “The Bitcoin Competitor Beloved by the Alt-Right and Criminals”. Using networks like Monero is giving these types of groups complete anonymity. Naturally, governments are going to be mad at people making large anonymous transactions, it allows them to avoid taxes and commit crimes. In September of 2020, the IRS offered up to $625k for anyone who was able to crack the Monero network. The issue is, even if they find…

  • Bitcoin extortionist jailed
    People

    U.K. Bitcoin extortionist jailed for 14 years

    Sheep farmer contaminated baby food with metal and demanded a $1.8M in bitcoin from U.K. retailer

    A plot to extort money from supermarket chain Tesco by contaminating baby food with broken-up blades of a craft knife and iron filings was fueled by bitcoin and ended with a 14-year jail term.

  • cryptocurrency enforcement framework
    Cryptocurrencies,  Regulation,  United States

    DoJ launches law enforcement guide to crypto

    The Department of Justice’s extensive report, ‘Cryptocurrency: An Enforcement Framework,’ singles out many of the challenges cryptocurrencies bring to law enforcement

    U.S. Attorney General William Barr today released an 83-page report detailing the threats and challenges cryptocurrencies pose to law enforcement, and in some ways, it’s a doozy.

  • Gemini allows Zcash privacy
    Cryptocurrencies,  Regulation,  United States

    Gemini says yes to a privacy coin. Sort of…

    Crypto exchange claims that its Zcash initiative ‘demonstrates that with the right controls in place and the proper education, regulators can get comfortable with privacy-enabling cryptos’

    New York-based, regulator-friendly Gemini now allows its users to withdraw Zcash with shielded transactions that protect user privacy. The company, run by Tyler and Cameron Winklevoss, commented: “This is an exciting moment for crypto, marking the first time shielded ZEC withdrawals are available on a regulated exchange.”