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ICE Reveals Cryptocurrency Intelligence Program The United States Immigration and Customs Enforcement (ICE) has revealed the existence of a Cryptocurrency Intelligence Program (CIP) in the agency’s 2021 budget proposal. The proposal states that the CIP seeks to identify unlicensed capital flows taking place across peer-to-peer (P2P) marketplaces, online forums, and darknet markets. The CIP was developed by ICE’s Bulk Cash Smuggling Center (BCSC). Lloyd’s New Insurance Offering Covers Crypto Held in Hot Wallets Insurance giant Lloyd’s of London now provides a new type of liability insurance policy to protect cryptocurrency in hot wallets that is lost by theft. Lloyd’s new offering was developed by Lloyd’s syndicate Atrium together with crypto will-focused firm Coincover, with limits from as little as £1,000 ($1,275), Lloyd’s announced on March 2. The policy is also backed by an array of other Lloyd’s insurers, including TMK and Markel, all of whom are members of...

Bitfinex, the 11th largest cryptocurrency exchange by daily trading volume, will remove dozens of cryptocurrency trading pairs later this week. According to a March 2 blog post , Bitfinex will remove 46 crypto trading pairs on Friday, March 6 due to low liquidity on the platform. The cryptocurrency exchange noted that the delisting of the trading pairs is a common measure that is expected to improve liquidity on Bitfinex platform and lead to a “more streamlined and optimized trading experience for our users.” The majority of trading pairs that are planned to be removed on Friday include a wide list of altcoins trading against Ether ( ETH ), the second-biggest cryptocurrency by market cap. That list includes about 30 trading pairs including altcoins like OKEx token ( OKB ), Verge ( XVG ) and Nucleus Vision ( NCASH ). Another 16 trading pairs include altcoins trading against Bitcoin ( BTC ), including pairs like Hydro Protocol ( HOT )/BTC and Medicalchain ( MT...

The United States Immigration and Customs Enforcement (ICE) has revealed the existence of a Cryptocurrency Intelligence Program (CIP) in the agency’s 2021 budget proposal . The proposal states that the CIP seeks to identify unlicensed capital flows taking place across peer-to-peer (P2P) marketplaces, online forums, and darknet markets. The CIP was developed by ICE’s Bulk Cash Smuggling Center (BCSC). “The BCSC has developed a Cryptocurrency Intelligence Program (CIP) which identifies unlicensed money services businesses in the form of independent cryptocurrency brokers’ use of peer-to-peer (P2P) sites, online forums and classified advertisements, and darknet markets (DNM) to engage in unlicensed money services businesses (MSB) activity.” ICE states that “a large portion” unlicensed MSBs operating with cryptocurrency on darknet markets and P2P marketplaces are engaged in the laundering of narcotics proceeds. The agency adds that it has increased its training and cy...

Bitcoin To Hit $100K In 2025, Says Justin Sun, Founder Of Tron Justin Sun, the founder and CEO of Tron (TRX), the 15th biggest cryptocurrency by market cap, is investing in a number of cryptos other than Bitcoin (BTC). In a Feb. 23 interview with CNN, Tron CEO said that he is a long-term believer in cryptocurrencies and owns a stake in many altcoins, including the two largest coins after Bitcoin  —  Ether (ETH) and XRP. Iranian Cell Calls For The Use Of Cryptocurrency This week an Iranian general called for a unique way to bypass the sanctions on his country enforced by the United States. Saeed Muhammad, commander of the Islamic Revolutionary Guard Corps, called for Iran to use cryptocurrencies to evade the economic sanctions. According to the Telegram channel of Coinit.ir , a crypto news organization based in Iran, the general addressed a crowd on Feb. 26 (translated from Farsi): “We are demanding the creation of a more sophisticated mechanism to bypas...

This week an Iranian general called for a unique way to bypass the sanctions on his country enforced by the United States. Saeed Muhammad, commander of the Islamic Revolutionary Guard Corps, called for Iran to use cryptocurrencies to evade the economic sanctions. According to the Telegram channel of Coinit.ir, a crypto news organization based in Iran, the general addressed a crowd on Feb. 26 (translated from Farsi): “We are demanding the creation of a more sophisticated mechanism to bypass sanctions. To circumvent sanctions, we must develop solutions such as the exchange of products and the use of cryptocurrencies with our partnerships [in other countries].” The people of Iran have seen the value of their currency drop significantly in the wake of the sanctions imposed by the Trump administration, following the withdrawal of the US from the Joint Comprehensive Plan of Action in 2018. Sanctions have effectively isolated Iran from foreign trade and investment ...

Confidential Transactions keep the amount and type of assets transferred visible only to participants in the transaction (and those they choose to reveal the blinding key to), while still cryptographically guaranteeing that no more coins can be spent than are available. This goes a step beyond the usual privacy offered by Bitcoin’s blockchain, which relies purely on pseudonymous (but public) identities. This matters, because insufficient financial privacy can have serious security and privacy implications for both commercial and personal transactions. Without adequate protection, thieves can focus their efforts on high-value targets, competitors can learn business details, and negotiating positions can be undermined. Confidential Transactions (CTs, the general idea of which was proposed by Adam Back on BitcoinTalk in 2013) aims to make the content of a transaction private — as Greg Maxwell explains in a 2017 talk , the amounts transacted are often more valuable to spi...

Justin Sun , the founder and CEO of Tron (TRX), the 15th biggest cryptocurrency by market cap, is investing in a number of cryptos other than Bitcoin (BTC). In a Feb. 23 interview with CNN, Tron CEO said that he is a long-term believer in cryptocurrencies and owns a stake in many altcoins, including the two largest coins after Bitcoin — Ether (ETH) and XRP. When asked whether Sun has its crypto portfolio diversified, the Tron CEO answered: “I own a lot of XRP and Ethereum, too. I’m like a long-term believer of the crypto so I want all crypto assets to succeed. So that’s why I own a lot of other different cryptos as well.” As a major believer in crypto, Sun is bullish on the price of cryptocurrencies and confident that cryptos like Bitcoin are the future of money. In the interview, Tron CEO predicted that Bitcoin will cross $100,000 mark in 2025, emphasizing that other cryptocurrencies will follow the trend. Justin Sun’s $100,000 Bitcoin prediction in his ...

A new extortion scam targeting website owners serving banner ads through Google’s AdSense program has begun circulating the Internet. The malevolent scheme demands Bitcoin (BTC) in exchange for preventing an attack, which would purportedly lead to the users’ AdSense account suspension. The email-based extortion scheme was reported by security news and investigation blog KrebsOnSecurity , on Feb. 17. The blog post detailed that some site owners received a message as their site had been spotted by the malicious program as one seeking revenue from publishing an ad. The message appears as a warning, wherein the cybercriminals demand $5,000 worth of BTC to deter the attack. “Very soon the warning notice from above will appear at the dashboard of your AdSense account undoubtedly! This will happen due to the fact that we’re about to flood your site with huge amount of direct bot generated web traffic with 100% bounce ratio and thousands of IP’s in rotation — a nigh...

Ukrainian Regulations States That Mining Does Not Require Governmental Oversight Ukrainian’s powers stated that crypto mining does not require regulatory activity from governmental oversight bodies or other third-party protocols. In its legal article on virtual assets published on Feb. 7, the Ministry of Digital Transformation of Ukraine specified that mining does not necessitate directives by state authorities as this activity is measured by the protocol itself and network members. Internet Surges 300% In North Korea Over The Past 3 Years North Korea’s internet use saw a 300% surge over the past three years, as the country’s regime has continued to rely on cryptocurrencies for various activities. Misuse of crypto and blockchain technology is among the primary tactics for the country to generate revenue as well as transfer and use illicitly obtained funds, a new study says. Blog U.S. Think Tank Contradicts Need For Federal Digital Currency ...

Conservative United States think tank the Heritage Foundation argues that instead of launching a central bank digital currency (CBDC), the government should ensure that the public can use the currencies they prefer, including private ones. In a commentary piece published on Feb. 12, the Heritage Foundation notes that Facebook’s Libra global stablecoin project “is just the latest reminder that providing money does not have to be a centralized function of government.” The report answers to the idea that the public sector must ensure that sovereign currencies stay at the centre of each nation’s financial system. The report argues that the principle of monetary sovereignty that member of the U.S. Federal Reserve’s Board of Governors Lael Brainard spoke about in February should be replaced with the concept of consumer sovereignty. The Heritage Foundation cites the popular concerns that stablecoins and cryptocurrencies heighten the risk of crime and fraud, and notes tha...

Two men charged over an alleged crypto trading ponzi scheme lured investors, including professional baseball players, with social media posts boasting about their luxurious lifestyles. On January 30, the Secret Service arrested the Arizona-based founders of Zima Digital Assets, John Michael Caruso, aged 28, and Zachary Salter, aged 27. Caruso commonly refers to himself as “Krypto King” in social media posts and claims he’s been a cryptocurrency investor since 2012. He has a criminal history and was last released from prison in late 2017. Salter is an aspiring R&B singer who releases music under the name “Sweet Talker.” Despite claiming no taxable income, the pair’s extravagant social media posts about their luxury good purchases helped draw in new investors. They were charged with conspiracy to commit wire fraud and money laundering. The complaint alleges that Salter and Caruso defrauded more than 90 investors out of at least $7.5 million since Ju...

Zermatt Switzerland Accepts Tax Payments In Bitcoin Source: https://cointelegraph.com/ According to an announcement by Bitcoin Suisse, Zermatt started accepting Bitcoin as a means of payment for local taxes and transactions on Jan. 28, 2020. By partnering with Bitcoin Suisse, the authorities of Zermatt are now able to convert taxpayers’ Bitcoin into Swiss francs through Bitcoin Suisse which then transfers the amount in fiat curren cy to the municipality’s bank account. Bank of Japan Must Be Prepared To Release Digital Currency Source: https://www.coindesk.com/ The deputy governor of the Bank of Japan has said the institution must be ready to issue a central bank digital currency (CBDC) should public demand surge in response to technical developments. In a strong statement of a future-oriented vision for the bank, Masayoshi Amamiya told attendees at a seminar — as per a Reuters report on Jan. 30 Bittrex Secures UDS 300 Million Insurance For Cryptocurrencies In ...

Established in 2002, DMCC aims to enhance commodity trade flows through the country. Its free zone offers a range of benefits including 0% personal and corporate income tax. Members can also remit all profits made back to their home countries without restriction. In October 2019, DMCC received the Financial Times Fdi magazine’s “ Global Free Zone of the Year ” award for the fifth consecutive years. A total of 85 global free zones were nominated in the 2019 competition. Situated in the heart of Dubai, DMCC is home to over 100,000 people and 17,000 member companies representing more than 170 countries and 20 business sectors. The companies range from startups to multinational corporations. Every month, 170 more companies join DMCC, 95% of which are new to Dubai, the authority says. DMCC (Dubai Multi Commodities Centre), a Dubai government entity, announced at Davos 2020 on Thursday that it is launching a crypto valley in its free zone, at the heart of the city’s leading...

Cash is unlikely to disappear anytime soon despite declining use as a payment method and the surge of digital currencies, Germany’s largest bank says. Deutsche Bank, a German multinational investment bank that previously predicted that cryptocurrencies will replace fiat by 2030 , now claims that cash “ will be around for a long time ” as a preferred method of payment. The bank has forecast a tentative future for cash in one of its recent “ The Future of Payments ” reports carried out by Deutsche Bank’s research arm Deutsche Bank Research. Titled “Cash: the Dinosaur Will Survive … For Now,” the report was issued on Jan. 21 and represents the first part of a series of reports on the future of payments. The second part, called “Moving to Digital Wallets and the Extinction of Plastic Cards,” was published on Jan. 23, while the third and final part of the series, “Digital Currencies: the Ultimate Hard Power Tool,” was issued on Jan. 27. Despite expressing its confid...