Criminals are laundering "billions" using bitcoin and other cryptocurrencies, according to E.U. law enforcement agency Europol. Although director Rob Wainwright used the statistics to call for more industry and regulatory action to combat it, some commentators noted the amount is tiny compared to that passing through the heavily-regulated banking system. Also see: John … [Read more...] about Europol Worries About Billions in Bitcoin Money Laundering, but What About ‘Regulated’ Banks?
Earlier this week the Lloyds Banking Group in the U.K. and Bank of America, Citibank and JP Morgan in the U.S. announced they are banning crypto exchanges from their list of approved transactions -- meaning no more buying digital assets with credit cards. However, it seems Australian traders on overseas exchanges remain safe from similar bans, at least for now. Also … [Read more...] about Australians Can Still Use Credit Cards on Foreign Exchanges Despite UK, US Bans
Why do bitcoin and crypto trading exchanges want so much ID -- and is it the government's business to know who's investing in ICOs? The process seems arduous and intrusive, but (like always) the regulators have their reasons. Neal Reiter of digital identity provider IdentityMind explains the situation and why it's more of a headache for cryptocurrency firms. Also … [Read more...] about Automata Podcast: Neal Reiter of IdentityMind on Crypto Fraud Risk
The U.K. government has reportedly announced plans to tighten regulations on bitcoin and cryptocurrency trading. It's a sign of increasing scrutiny for digital assets, after 2017's price boom made many small-time holders suddenly wealthy. Bitcoin and most other cryptocurrency prices dropped slightly as the news spread. Also read: People Are Selling ‘Breedable Digital Beanie … [Read more...] about UK to Tighten Bitcoin Trading Regulation, Prices Drop
Many situations in life require people to prove their identity, either to some person or organization. Sometimes it's done as a means of conforming to legal requirements, but sometimes it's done to protect people from malicious actors. In any case, it can be a tedious and burdensome process that significantly delays a person’s ability to get what they need or want. Also … [Read more...] about ShoCard: Protecting Identity Through the Blockchain