Weekly News Overview: Cryptocurrency
UK’s Cop Offers Lessons On Crypto
In an article titled “The changing face of crime — the world of cryptocurrency”, Sergeant Phil Ariss offers valuable lessons on cryptocurrency and emphasises on why it is important for law enforcement officers to understand how it works, in order for the officers to be completely equipped to catch criminals who deal with cryptocurrencies.
Child Sexual Abuse Material Providers Made Over $900K In Bitcoin
Chainanalysis has published an analytic report on the use of cryptocurrency to the purchase of child sexual abuse material on the dark net, for the year of 2019.
The report states that $930,000 in crypto, specifically bitcoin has been used to buy CSAMs in just the span of a year.
Chainanalysis says that the said amount in BTC represents a very small fraction of all the crypto activity and the industry should be concerned about the usage of cryptocurrencies are being used for criminal activities and in deeply exploitative industries.
Former Republican Senator To Be Arrested
An arrest warrant has been issued by a Judge in the state of Texas against an ex-Washington Republican senator who was involved in an alleged cryptocurrency scam- Meta 1 Coin.
The arrest warrants are part of a current open case by the SEC concerning the Meta 1 coin, an alleged crypto scam backed by Schmidt that promised investors the coins were backed with “$1 billion in fine art or $2 billion of gold holdings” without having any actual tokens. The SEC froze the cryptocurrency’s assets on March 16 and charged the firm’s operators with fraud.
First Ever Cryptocurrency Exchange WordPress Plugin Launched
Daper Goren Holm announced on the 22nd of April, 2020 released a first of its kind wordpress cryptocurrency exchange plugin, that is the easiest way for layperson to launch their very own exchange platform.
Cryptocurrency Exchange is allowing bloggers, content creators, media companies etc to use and harness that power of decentralised finance on their site.
Crypto Valley Seeks Government Aid
According to a report published on the 26th of April, 2020 by Bloomberg, Switzerland’s “crypto valley”, a fintech friendly region near Zurich, is seeking a 100 million Swiss franc ($102.7 million) fund from the federal government. This fund is allocated to bail out the troubled fintech companies.
Poloniex Experienced Unscheduled Downtime
In a tweet, Poloniex announced that the exchange had to halt its activity due to an unexpected issue. Interestingly, the exchange warns users that it does not intend to resume the trading of the Grin (GRIN)/Bitcoin (BTC) pair, which is apparently the root of the malfunction.
