A former Microsoft Security Lead has insisted that a great proportion of digital assets worth billions of dollars are secure and are being “safely managed by hundreds of protocols.” The security expert suggested that protocols also need to have a platform that allows users to rate or assess the robustness of security systems. A Comprehensive Security Strategy While … [Read more...]
South Koreans Report Over $98 Billion in Overseas Crypto Assets
South Korean tax payers have declared some 131 trillion won (more than $ 98 billion) of crypto holdings in overseas accounts this year. The amount was announced by the country’s tax agency and it comes after the authorities in Seoul imposed a mandatory reporting requirement for financial assets held abroad. Almost 1,500 South Korean Firms and Individuals Declare Foreign Crypto … [Read more...]
Russia Considers Legalizing Defi DAOs to Draw Liquidity to Its Digital Assets Market
The Finance Ministry in Moscow is pushing to legalize decentralized financial organizations to attract capital to Russia’s regulated market for digital assets. The department hopes this would allow some of the liquidity in the decentralized finance (defi) and crypto space to be invested in Russian digital financial assets (DFAs). Russian Government Looks to Defi Space for … [Read more...]
IMF and FSB Release ‘Policies for Crypto Assets’ at G20 Request
The International Monetary Fund (IMF) and the Financial Stability Board (FSB) have published their synthesis paper titled “Policies for Crypto Assets,” which was developed at the request of the Indian G20 Presidency. The global organizations “have set out a roadmap to ensure effective, flexible, and coordinated implementation of the comprehensive policy response for … [Read more...]
South Korea Seeks to Freeze North’s Crypto Assets Under New Law
The government in Seoul intends to submit new legislation tailored to facilitate the tracking and freezing of crypto used to fund the weapons programs of North Korea. A bill has been drafted after extended consultations between ministries with the aim to make South Korean sanctions more effective and improve the country’s cybersecurity. South Korean Government Takes Aim … [Read more...]
Crypto Betting Platform Stake.com Comfirms Hacking Incident, Over $40 Million Worth of Assets Stolen
Crypto betting platform Stake.com confirmed on Sept. 4 that an unknown entity had carried out unauthorised transactions from its ethereum and Binance Smartchain hot wallets. However, the crypto-betting platform insisted that user funds were safe and that its other hot wallets remain operational. Digital Assets Worth More Than $ 40 Million Reportedly Stolen Stake.com, one of … [Read more...]
Just Over Half of Turkey’s Adults Invested in Crypto Assets Between Nov. 2021 and May 2023 — Study
In the 18 months between Nov. 2021 and May 2023, the proportion of Turkish adults who invested in cryptocurrencies grew from 40% to 52%, data from the latest Kucoin report has shown. The report also revealed that 54% of Turkish adults who invested in crypto for the first time in the past year were under the age of 30. Crypto as a Shield Against Inflation According to a new … [Read more...]
Kenyan Residents Asked to Participate in a ‘Public Survey on Virtual Assets’
Kenya residents who wish to shape their country’s policy towards the crypto ecosystem can now do so by participating in a public survey on virtual assets and virtual assets service providers, the Financial Reporting Centre (FRC) has said. The FRC says the public’s feedback “will play a vital role in shaping the future of the virtual assets ecosystem and … [Read more...]
Custodia Bank Goes Live: Bridging Digital Assets With US Dollar Payments
Custodia Bank, the financial institution that aims to bridge digital assets with the U.S. dollar payment system, is now live. Last month, Custodia started serving external business customers in select U.S. states, offering U.S. dollar deposits and government money market fund services, with bitcoin custody pending launch. The launch comes after overcoming regulatory pressures … [Read more...]
Crypto Assets Held in Self-Custody Wallets Have ‘a Non-Zero Chance’ of Getting Stolen — Fairside Network CEO
According to Brandon Brown, the co-founder and CEO of Fairside Network, self-custody crypto wallets generally lack inbuilt insurance coverage to protect against theft or loss. Brown attributes this to the challenges encountered when assessing digital asset risks as well as “the absence of historical loss data, and evolving threats.” Insurance Coverage for Assets … [Read more...]
Social Media Bots Played Crucial Role in Inflating Value of FTX-Listed Crypto Assets, Report Finds
New analysis from the Network Contagion Research Institute (NCRI) reveals that bots on the social media platform X (formerly Twitter) likely played a major role in amplifying the value of cryptocurrencies tied to the now-defunct FTX exchange and its sister firm Alameda Research. Social Media Bots Boosted FTX-Listed Coins, Says Report Analyzing over three million posts from 2019 … [Read more...]
Binance Users in China Traded $90 Billion of Crypto Assets in a Month, Report
Traders in China have reportedly exchanged $ 90 billion worth of cryptocurrencies on Binance despite a ban on their trading in the country. According to a report quoting internal figures and sources, the volume made the People’s Republic Binance’s biggest market. Binance Processed Monthly Crypto Transactions Worth $ 90 Billion in China Despite Ban Users of Binance, the … [Read more...]
Bitcoin Miner Genesis Digital Assets Opens 3 New Data Centers in South Carolina
Genesis Digital Assets (GDA), one of the world’s largest bitcoin mining companies, has opened three new data centers in the western region of South Carolina. The facilities represent GDA’s continued expansion in the United States, where its data centers now account for over 2% of Bitcoin’s total hashrate. Genesis Digital Assets Reveals 3 New South … [Read more...]
Report: SEC Asked Coinbase to Delist All Crypto Assets Except Bitcoin Prior to Filing Lawsuit
According to Brian Armstrong, the CEO of crypto exchange Coinbase, the U.S. securities regulator reportedly told his company to delist all digital assets save for bitcoin. Armstrong said acceding to the SEC’s demand would have “meant the end of the crypto industry in the U.S.” SEC Reportedly Refused to Explain Why It Classifies Digital Assets as Securities … [Read more...]
Predicting the Unpredictable: AI Chatbot Claude Outlines Potential 2024 Prices for Top 40 Crypto Assets
Two weeks ago, Bitcoin.com News used six artificial intelligence chatbots to predict the price of bitcoin (BTC) by the end of 2023. After the release of Anthropic’s Claude 2 in July, we conducted another experiment, tasking Claude with predicting the prices of the top 40 cryptocurrencies on Jan. 1, 2024. Along with providing a projected price list of 40 crypto assets, … [Read more...]
