US Is Debating Risk vs. Liability for New Crypto Tax Rules

Treasury department officials are wrangling with how to focus a coming set of crypto tax rules.

VeChain charts 23% weekly growth as Chinese officials talk usage post-epidemic

VeChain is riding a strong tailwind on favorable developments out of China.

Lebanon to launch digital currency in face of economic and financial turmoil

Lebanon's central bank governor says the country, whose lira has been in freefall, is preparing to launch a digital currency in 2021. Lebanon’s central bank plans to launch a new digital currency in 2021 as part of a broader effort to combat a parallel economic and financial crisis that has engulfed the country. Central bank governor Riad Salameh told a gathering of officials Monday that “We must prepare a Lebanese digital currency project” as a way to shore up confidence in the banking system. "As for the monetary supply in the Lebanese market, it is estimated that there are $10 billion stored inside homes,” Salameh said, according to the state-run National News Agency. The central banker added that a digital currency project launched in 2021 will help implement a cashless financial system to enhance the flow of money locally and abroad. Lebanon relies heavily on remittances from its vast global diaspora.

Italian Authorities Bust Illegal Ethereum Mining Activities Using Airport Computers

Airport officials working at Italy’s Lamezia Terme International airport have nabbed a 41-year-old technician for unlawfully mining Ethereum using the airport computers.

Illegal Ethereum mining farm at Italian airport busted by officials

Airport officials at Lamezia Terme International located in the southwest region of Calabria caught a 41-year-old technician from Italy for illegally mining Ethereum (ETH) according to a report publis The post Illegal Ethereum mining farm at Italian airport busted by officials appeared first on AMBCrypto.

China-Based Crypto Ponzi Scheme Generates $1 Billion Before Being Flagged

A cryptocurrency Ponzi scheme was reported by Chinese law officials, but not before fraudsters reaped more than $1 billion profit from it.

Russian Public Officials Must Now Declare Their Crypto Holdings as Income

Public officials in Russia will now be required to declare all the crypto assets they hold as income.

First ransomware attack in 2020 election hits voting infrastructure in Georgia

Key voting infrastructure of a county in Georgia has been impacted by a ransomware attack targeting local government networks. A ransomware attack targeting the government systems of Georgia’s Hall County also impacted key voting infrastructure it has been revealed. Local officials initially released few details regarding the Oct.

Russian Civil Servants Required to Declare Crypto Holdings Beginning in 2021

Russia’s public officials will be obligated to declare all their private cryptocurrency and digital asset holdings, effective from the start of 2021.

Russian officials must now declare crypto holdings

The move reverses a 2018 decision that officials did not have to declare crypto holdings. Russia's public officials will be mandated to declare all private crypto assets holdings from New Year’s Day, 2021. The requirements were announced on Oct.

‘All’ Russian Civil Servants Told to Declare Crypto Holdings

Russian public officials will be obliged to declare how much crypto they own, said the country’s Prosecutor General’s Office. Per an official release, the Prosecutor General has introduced the changes in line with the country’s first crypto law, which was approved earlier this year and promulgates on January 1, 2021. Although some believe that the law is a mere

33 money laundering crypto crims targeted worldwide in 3 separate cases

Law enforcement representing 16 different countries cooperated to arrest 20 members of a global crypto-powered money laundering cartel in just one of the cases. Law enforcement officials from around the world hav taken action against a major transnational money laundering operation involving cryptocurrency. On Oct.

CipherTrace gives officials tips on how to uncover criminals' crypto caches

CipherTrace has published comprehensive guidance intended to help law enforcement identify signs of crypto usage when conducting investigations. Blockchain forensics firm CipherTrace has published comprehensive guidance to assist law enforcement officials in identifying signs of cryptocurrency use when carrying out criminal investigations. The report notes that the US Department of Treasury has identified a “consistent decrease in reported bulk cash seizures by agencies throughout the United Since” since 2013, suggesting the trend may indicate increased cryptocurrency adoption among criminals.

FSB Recommends Stablecoin (Libra) Safeguards as G7 Continues Blockade

Finance officials never once named libra.

DOJ Wants to Bypass End-to-End Encryption to Fight Child Sexual Exploitation – Cause for Concern for Tech?

US government officials want to bypass encryption on websites, under allegations that child sexual exploitation runs unmonitored on strongly encrypted platforms.

Senior Japanese official fears China being ‘first-mover’ in digital currency

China might gain control over global CBDC standards, a Japanese official warns. Japanese banking officials continue to voice concern over China’s progress in the development of its central bank digital currency. Kenji Okamura, vice-finance minister for Japan’s international affairs, warned the global community of the potential risks of China’s digital yuan, Reuters reported Oct.

Crypto Exchange Refuses to Give Up Dissident Names to Belarus Government

Belarus government officials have demanded that a Kuna.io crypto exchange disclose the names of potential dissidents that have leveraged their services.

Officials voiced privacy concerns over China’s blockchain-powered hospital

Despite pushing for greater blockchain implementation, privacy was a sticking point for some officials. China’s first blockchain-powered hospital is set to launch sometime in 2021, but some government officials voiced concerns over data security.  According to Cn-Healthcare, the First Affiliated Hospital of Dalian Medical University will launch a pilot program by January 2021 as blockchain integration is still incomplete.

Regulators Don't Trust the Crypto Industry's Self-Regulation: Survey

Government officials still view the industry with suspicion, while crypto executives might be downplaying most risks.

Gambling Rings Use Cryptocurrency to Transfer $145.5 Billion of Funds Outside China Every Year, Official Report Reveals

Government officials identified that cryptocurrencies are used to collect and transfer 1 trillion yuan out of China to online gambling and casinos every year.

US Homeland Security Challenges Freelancers to Design It a Digital Wallet

DHS officials are putting up $25,000 in cash prizes to designers who win the month-long competition.

First Mover: Federal Reserve Does What It Wants to Do as Bitcoin Hits $11K

This week's Fed meeting ushered in a new regime for US monetary policy, offering a reminder of just how frequently top officials change the rules.

Federal Reserve Holds 0% Interest Rates until 2023, Targets Over 2% Inflation—BTC Price Breaks $11,000

Bitcoin price spikes as Federal Reserve officials of FOMC said they will hold US interest rates close to zero and will continue to push inflation above 2% by 2023.

Ripple CEO criticizes India's looming crypto ban

‘Disappointing to see India flip-flop on crypto,’ Garlinghouse stated. Indian government officials are reportedly planning to discuss a new bill whose legal framework would ban cryptocurrencies on the subcontinent.  According to a Sept.

Federal Reserve Now Targets Inflation Above 2%, Bitcoin Breaks $11k

Federal Reserve officials said Wednesday that they would hold US interest rates close to zero and work to push inflation above 2% "for some time."

Blockchain Bites: Bitmain Denied, Coinbase Blocked and a Potential EOS Exit Scam

Arca is acting like an activist investor in its dealings with Gnosis while Venezuelan officials appear to have blocked access to Coinbase.

Bithumb Exchange’s Offices Raided Again by Korean Authorities: Report

Local officials are said to have raided Bithumb's offices for the second time in a week as part of a fraud investigation.

Ransomware hackers shut down Argentina’s borders, demand $4M BTC

Officials shut down border checkpoints for 4 hours on Aug.

Healthcare makes case for blockchain use despite challenges

Healthcare is seeing the potential. The healthcare industry in the United States has shown great interest in blockchain technology, especially after the recent cyber attacks on medical research facilities working on COVID-19 vaccines. According to the DevPro Journal, healthcare officials believe that adopting blockchain technology can provide data security against cybercriminals and hackers because it does not contain a central failure point.

Blockchain can combat Australia’s $1.7B food and wine fraud problem

Food and wine fraud costs Australians $1.7 billion, but government and industry experts say blockchain could be the solution A supply chain forum featuring local experts and government officials has advocated using blockchain technology to fight the $1.7 billion worth of food fraud annually harming Australia's primary sector. Blockchain Australia deputy chair Rob Allen moderated the online panel discussion on Sept.

Government Officials in Russia Expected to Declare Their Cryptocurrency Savings

Government officials in the Ural region of Russia are now expected to declare their savings stored in cryptocurrencies.

Darknet AlphaBay Moderator Paid in Bitcoin Sentenced to 11 Years in Prison

A darknet moderator for marketplace AlphaBay has been apprehended by law officials and sentenced to 11 years in prison.

Sichuan’s Blockchain Park: Chengdu Government Officials Welcome Bitcoin Miners

In mid-August officials from the Chinese province of Sichuan approved a number of enterprises that mine bitcoin for legal hydropower consumption in the region.