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  OneCoin 'License' is a Fake, Says Vietnamese Government
Posted by: admin - 9 hours ago - Forum: News From Cryptocurrency Market - No Replies

The government of Vietnam is speaking out after promoters of OneCoin – a digital currency investment scheme widely believed to be a fraud – claimed it had been granted a formal license in the country.
Local media sources report that, during an event earlier this month, proponents of the digital currency claimed that OneCoin had been given a license to operate by the country's Department of Management.
According to BehindMLM, which tracks multi-level marketing schemes worldwide, the government moved to issue a swift denial after receiving questions from those who ostensibly were pitched to buy OneCoin. Those who are encouraged in to buy into the OneCoin system are asked to purchase "packages" which can then be exchanged for the purported digital currency. They are further urged to find others to invest in order to expand their promised rewards.
Specifically, the Vietnamese government said that purported licensure documents shared on social media were fakes with forged signatures. BehindMLM further adds that, in the wake of the Vietnamese government's statements, OneCoin promoters in Vietnam have moved to pull down posts about the alleged license.
The news represents the latest move by a national government to disavow or speak out against OneCoin, which has been accused of operating a Ponzi scheme and bilking investors through promises of significant investment returns.
Countries including GermanyIndia and Italy, among others, have acted in recent months to disrupt OneCoin and its proponents.

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  The FBI Received Over 2,600 Ransomware Complaints in 2016
Posted by: admin - 9 hours ago - Forum: News From Cryptocurrency Market - No Replies

The FBI received more than 2,600 complaints about ransomware last year, according to a new report.
Published yesterday, the annual review of cybersecurity threats from the law enforcement agency's Internet Crime Complaint Center (IC3) outlined a range of statistics, including the number of submissions it received regarding ransomware.
Ransomware is a type of malicious software that encrypts an infected computer's data, demanding a payment – usually in bitcoin – in return for the information being unlocked.
According to the IC3's report, 2,673 complaints were submitted, with losses of over $2.4m reported during that period. The number represents a small fraction of the 298,728 cybercrime-related complaints that IC3 said it received overall in 2016. All told, losses in 2016 connected to these activities constituted a reported $1.3bn.
The IC3 disclosure comes on the heels of a global ransomware attack, dubbed WannaCry, that impacted hundreds of thousands of computers owned by a host of organizations, including the UK's National Health Service.
The impact of that spread is still being felt, according to recent reports.
Reuters said yesterday that Japanese automaker Honda had to temporarily close one of its manufacturing plants because WannaCry was discovered on one of its networks.

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  Illicit Cryptocurrency Use Targeted in Proposed 2018 FBI Budget
Posted by: admin - 06-23-2017, 08:23 AM - Forum: News From Cryptocurrency Market - No Replies

The FBI is requesting $21m and 80 new employees in a bid to investigate emerging tech that could help the agency combat cybercrime.

In a budget request for fiscal year 2018, sent on 21st June, Andrew McCabe, acting director of the FBI, testified to the White House that the agency is facing what it believes are significant challenges in gaining access to digital information – even when it has the legal authority to do so. This notably includes cases that involve "drug traffickers using virtual currencies to obscure their transactions".
It is also the same narrative that the FBI's former Director James Comey put forth last month before the Senate Judiciary Committee.
The challenge, the agency has said, is that the FBI now requires more financial resources to investigate technologies and decipher information transmitted on the darknet. Elsewhere, it is also engaging in dialogues with companies that provide such technology to educate them on the "corrosive effects" that information inaccessibility has on "public safety and the rule of law".
Earlier this year, the privacy-encrypted digital currency Monero (XMR), for example, drew attention from FBI for similar reasons.
A special agent working at the FBI's Cyber Division in New York City said at an event that the agency has concerns such technology will set roadblocks for criminal investigations.
"Developing alternative technical methods is typically a time-consuming, expensive and uncertain process," the agency said.

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  Suddenly, Bitcoin to Be Officially Legal in India
Posted by: admin - 06-22-2017, 08:22 AM - Forum: News From Cryptocurrency Market - No Replies

[Image: 725_Ly9jb2ludGVsZWdyYXBoLmNvbS9zdG9yYWdl...5qcGVn.jpg]
CNBC India has revealed that the Indian government committee has ruled in favor of regulating Bitcoin.
On April 14, Cointelegraph reported that the Inter-Disciplinary Committee within India’s Ministry of Finance was actively investigating the legal status of Bitcoin and considering the possibility of regulating the market.
Efforts of Indian Bitcoin exchanges
Over the past three years, the big three Indian Bitcoin exchanges including ZebpayCoinsecure and Unocoin operated with self-regulated trading platforms with strict Know Your Customer (KYC) and anti-money laundering systems in place, despite the lack of regulations in the digital currency industry and market.
The efforts of the Bitcoin exchanges in India to self-regulate the market allowed the Indian government to reconsider the Bitcoin and digital currency sectors, regardless of the criticisms by several politicians that significantly lack knowledge in cryptocurrency.
On March 24, Cointelegraph reported that Kirit Somaiya, a member of parliament of the ruling BJP in India, was harshly criticized for his description of Bitcoin as a Ponzi scheme.
In a letter to the Finance Ministry and the Reserve Bank of India, Somaiya explained that Bitcoin is a pyramid Ponzi-type scheme. However, Somaiya was criticized for his inability to understand the structural and fundamental difference between a Ponzi scheme and Bitcoin.
The legalization of Bitcoin in India
In spite of the negative attitude of certain politicians, the Indian government has come to a decision to regulate the market and provide an even playing field for Bitcoin exchanges that have allocated a significant amount of resources to standardize the market and industry.
Back in April, Mohit Kalra, CEO of Coinsecure, one of the largest Bitcoin exchanges in India, told Cointelegraph in an interview that the Indian government has finally started to take Bitcoin seriously and are considering the possibility of regulating the market.
Kalra said:

Quote:“Finally, something positive for the industry. Authorities are now taking this technology seriously. We have been trying to get their attention for years now. I am glad it's all happening at the right time. At Coinsecure, we are seeing a massive increase in the number of users and volumes. We are positive with what will happen in these coming three months.”

On June 20, CNBC India announced that the Indian government committee has ruled in favor of regulating Bitcoin and is currently establishing a task force to create various regulatory frameworks with the aim of fully legalizing Bitcoin in the short-term.
Prior to the announcement of the Indian government, Chris Burniske, ARK Invest’s crypto lead, noted that the trading volumes in India have been on the rise. Burniske previously revealed that the Indian Bitcoin exchange market is responsible for processing around 11 percent of Bitcoin-to-USD trades.

Quote:Hello #India?? we've been expecting you! Very curious to see where this goes for #bitcoin. h/t @BKBrianKelly pic.twitter.com/9uacy5GZH9
— Chris Burniske (@ARKblockchain) June 15, 2017

The legalization of Bitcoin in India is expected to further increase trading volumes and Bitcoin activities in India by significant margins.

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  Illinois Government Sponsors Month-Long Blockchain Hackathon
Posted by: admin - 06-21-2017, 09:11 AM - Forum: News From Cryptocurrency Market - No Replies

The state of Illinois is backing an upcoming blockchain hackathon.
The IBI Hack, a month-long virtual hackathon set to begin on 1st July, is being organized by the Illinois Blockchain Initiative along with blockchain technology startup Fulcrum. The event is open to students and recent university graduates from around the world, with all entries due on 31st July.
IBI Hack is part of the Illinois Blockchain Month, a month-long initiative that will see a series of educational events hosted across the state focused on the tech. The events are aimed at trying to teach people what blockchains are and what they can do. 
State governor Bruce Rauner said in a statement:

Quote:"Illinois is the state of innovation, and I am proud to see our young men and women getting involved in the Illinois Blockchain Initiative Hack. Empowering our youth is empowering the future of Illinois."

The Illinois Blockchain Initiative was unveiled in November as part of a wide-ranging effort among state officials to tap the tech for public-sector applications. The initiative is backed by a number of state agencies, including the Cook County Registry of Deeds, which had previously looked at the concept of time-stamping documents with the bitcoin blockchain.
The hackathon represents the latest development in the blockchain experiments at the state of Illinois. Two weeks ago, several of Chicago’s largest enterprises have joined forces with the state government to launch a new blockchain center. In March, Illinois joined R3, the distributed ledger consortium that includes dozens of banks worldwide. 

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  Forfeit Your Bitcoin? Congressional Bill Draws Fire Over Border Check Rules
Posted by: admin - 06-20-2017, 08:46 AM - Forum: News From Cryptocurrency Market - No Replies

A group of US lawmakers wants to see cryptocurrency holdings declared at the nation's border – and advocates of the tech are pushing back.
Introduced last month, the Combating Money Laundering, Terrorist Financing and Counterfeiting Act of 2017 – which is actually the third iteration of a bill that debuted in 2011 – would bring a range of digital currency services under federal scrutiny, including those that provide transaction mixing services.
Yet, the provision that has attracted the particular ire of cryptocurrency advocates – especially those who prefer a regulation-light environment – is one that would make such holdings subject to disclosure requirements at US customs checkpoints. This means if a person trying to enter the country has more than $10,000 worth of bitcoin in their possession, under the proposed legal change, they would need to inform the relevant authorities.
Such requirements are already in place for payment methods like cash. But given the rising public profile of cryptocurrencies like bitcoin, coupled with the perception among policymakers that they could be used to fund terrorist activities, is driving legislative efforts like the bill currently under consideration.
One observer, Joe Ciccolo of Canada-based BitAML, remarked that cryptocurrency has become the "new face in an old debate", going on to say that policymakers and law enforcement officials have long sought to expand the definition of what constitutes a "monetary instrument".
Ciccolo told CoinDesk:

Quote:"Earlier this decade, we saw a push to include 'prepaid access' such as gift cards. Law enforcement went so far as to pursue card readers to scan prepaid access devices for their balance. Now that digital currencies have gained traction, they've been included in the same conversation. As in the past, I suspect there will be strong opposition from across the financial services community."
Perianne Boring, president of the Chamber of Digital Commerce, a blockchain trade advocacy organization, said the legislation is "not necessary" given the existence of regulations from the Financial Crimes Enforcement Network (FinCEN), which require exchanges services to register as money transmission businesses and adhere to federal reporting requirements.
"While we encourage thoughtful and meaningful study of the prevention of cross-border financial crime, the storage of virtual currency carries different and complex considerations than those attributable to prepaid access," she told CoinDesk.
Asset grab
It's clear from the response that the frustration toward the measure isn't going anywhere. That anger surfaced in earnest over the past week or so in social media postings and fiery blog entries about the move.
One of the points of concern is a policy called 'civil asset forfeiture'. In the US, law enforcement officials have faced strong opposition to the rules, by which assets, particularly cash, can be seized if they are suspected of being connected to criminal activity. Proponents say it deters money laundering and – controversially – provides a funding means for police forces in the US.
Under the proposed bill, cryptocurrencies would be included in that definition, subject to confiscation by border agents.
The practice has drawn fire in recent years over instances in which innocent people have their funds taken from them, triggering legal processes that can play out for months or longer before any money is returned.
In one high-profile example in 2015, a US man had $16,000 in cash taken from him while he tried to relocate to Hollywood despite the fact that he wasn't suspected of a specific crime. And data published earlier this month by the Chicago Tribune illustrated how the policy tends to target lower-income residents who, if anything, are guilty of crimes of lower severity, if at all.
Investor and writer Simon Black, who pens the Sovereign Man blog, took aim at this aspect of the bill by declaring that, in the eyes of the US government, "bitcoin is evil" and should be up for grabs by border agents.
"So, theoretically if you leave the US with more than $10,000 in bitcoin or ether, you'd have to confess this fact to the authorities or otherwise face the aforementioned penalties, ie prison time, civil asset forfeiture, etc," Black wrote.
"HOORAY FREEDOM!" he added.
Fighting on
Thus far, the bill hasn’t advanced significantly since being introduced last month, public records show. On 25th May, the measure was referred to the Senate Judiciary Committee for further consideration.
At press time, representatives for Senators Chuck Grassley and Diane Feinstein hadn't responded to CoinDesk requests for comment. The bill is also being sponsored by Senators John Cornyn and Sheldon Whitehouse, constituting a group of two Republicans and two Democrats.
But at least one person is moving to wage a war against the bill’s provisions: Theo Chino, who as profiled by CoinDesk last November, has waged a persistent campaign against the New York State Department of Financial Services BitLicense regulatory framework.
He told CoinDesk in an email that he has set up a webpage with the relevant contact information for the senators who are sponsoring the bill. Chino himself has been reaching out to offices in an effort to educate lawmakers on what he described as "misunderstandings of the technology".
"This 'over-criminalization' of bitcoin, based on common misunderstandings of the technology and its economic nature should be worrisome to the bitcoin and technology communities," he told CoinDesk.
The two main advocacy groups in Washington, DC – the Chamber of Digital Commerce and Coin Center – are said to be in contact with the relevant Congressional offices. Though it declined to comment on this story, Coin Center indicated on Twitter that it's reaching out amid the furor.
"We are aware of S 1241, are in touch with the relevant folks in Congress, and will post an analysis soon," executive director Jerry Brito wrote on Twitter.
Chino – who in an email called the bill a "sham" – spoke to the grassroots effort taking place, and said that he’s still reaching out to people who have posted on Reddit as part of a broader bid to get constituents to contact the senators involved.
"One call from a constituent has so much impact," he said.

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  F2Pool Announces Support For SegWit2x
Posted by: admin - 06-19-2017, 10:35 AM - Forum: News From Cryptocurrency Market - No Replies

[Image: 725_Ly9jb2ludGVsZWdyYXBoLmNvbS9zdG9yYWdl...5qcGc=.jpg]
With all the chaos and division around the looming August 1 deadline for UASF/UAHF scaling questions, companies and mining pools have been making statements for or against different positions. F2Pool is the next company to put their flag in the ground.
The announcement indicated F2Pool’s support of the New York Agreement, as well as SegWit2x. Echoing other recent industry announcements, F2Pool did indicate that the support is contingent on SegWit2x being technologically mature.
The group also made some statements regarding the nature of the scaling propositions that have been offered.
They indicated that scaling is effectively a software upgrade and that an upgrade should include a technologically mature software, an embracing by the community and a vote by the miners.

Quote:"F2Pool verbalized its support for miners, stating the “miners are, without doubt, the protector and guardian in the development of Bitcoin.”

SegWit2x
The support for SegWit2x is based on a belief that SegWit is both technologically mature and feasible since it has been successfully deployed on a number of wallets, as well as activated on Litecoin.
The move also ensured that F2Pool would not become a hindrance to the further development of Bitcoin. Undoubtedly, detractors will have some responses, but the move highlights the continued and increasing support SegWit may well receive as the deadline approaches.

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  El Jadida and attractive Rabat
Posted by: ericwatson239 - 06-19-2017, 09:31 AM - Forum: InvestorsCare - Lounge - No Replies

An instant in beautiful Marrakesh, visits to El Jadida and attractive Rabat are all included before you reach at the primitive capital of Morocco, Fez.( Cheap Holidays to Morocco ) With its convoluted Fes el-Bali beautiful Medina, 14th-century spiritual colleges and antique ramparts, Fez has the best-preserved old city in the Arab world. It is also home base to the great Qarawiyyin University, the eldest university in the world.

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  South Korean Government to Auction Off $518,000 Worth of Bitcoin
Posted by: admin - 06-16-2017, 08:36 AM - Forum: News From Cryptocurrency Market - No Replies

On June 14, Local publications including the Seoul Economic Daily revealed the plans of the South Korean government to auction of 216 bitcoins worth around $518,000 at the time of reporting, seized during a series of previous investigations into illicit financial activities.

The Korea Asset Management Corporation (KAMCO), an asset management arm of the South Korean government which oversees state-owned properties and taxes, announced in a press conference that digital currencies such as bitcoin can be auctioned off by the government because they are not considered as non-auctionable assets by the South Korean law.
A statement of a KAMCO representative translated by CCN read:

Quote:With the exception of currencies, assets and securities are auctionable by the South Korean government. Although it is the first auction involving a digital currency overseen by the South Korean government, investors and the public can consider bitcoin as an asset that changes in value over time.
More to that, a KAMCO representative told local publications that once seized, assets, securities and digital currencies such as bitcoin immediately become properties of the government. Through the utilization of a system called “on-bid,” law enforcement agencies and financial regulators can conduct direct auctions to the public to sell seized items from previous investigations, with the exception of the South Korean national currency and reserve currencies.

According to sources, the cyber investigation department of the South Gyeonggi Provincial Police Agency arrested 33-year-old Ahn for operating an illicit website or a marketplace. In South Korea, any form of gambling is strictly prohibited and web-based marketplaces that distribute inappropriate content are banned by the government.
Ahn operated an illicit web-based marketplace which accepts bitcoin for payments. Investigators of the South Gyeonggi Provincial Police Agency arrested Ahn and seven individuals suspected of co-operating the marketplace with Ahn. During the investigation, the local police seized 216 bitcoins, which increased in value by around 2.4x within a two-month period.
Although the South Gyeonggi Provincial Police Agency and KAMCO did not reveal additional details in regard to the web-based marketplace Ahn launched and operated, it is likely an online gambling platform or pornography site, two types of websites that are strictly banned by the South Korean government. During the press conference, KAMCO told reporters that bitcoins that will be auctioned off later this year will most likely be sold at lower rates in comparison to major bitcoin exchanges such as Bithumb, Korbit and Coineone, the three largest bitcoin exchanges in South Korea.
Since the beginning of 2017, the South Korean bitcoin exchange market has transformed into a major bitcoin exchange market after overtaking the Chinese, European and Japanese bitcoin exchange markets in terms of daily trading volume and market share over the global bitcoin exchange market. In consideration of the explosive demand toward bitcoin and other digital currencies and assets such as Ethereum, Ripple and Ethereum Classic within South Korea, it is unlikely that the bitcoins at the auction will be sold at a substantially lower rate than the South Korean bitcoin exchange market rate. However, because the auction begins with a relatively low base price, representatives of KAMCO predict the 216 bitcoins to be sold at a much lower rate than the trading price listed on exchanges including Bithumb, Korbit and Coineone.
Once auctioned, KAMCO stated that 3 percent of the auctioned amount will be considered as a fee and the rest of the amount will be returned back to the South Korean treasury.

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  Australian Politician Calls for Bitcoin Scrutiny in Fight Against Terrorism
Posted by: admin - 06-15-2017, 12:36 PM - Forum: News From Cryptocurrency Market - No Replies

A major Australian politician is calling for the government to increase its oversight on bitcoin.
In a speech Tuesday, first reported by The RegisterAustralia's opposition leader Bill Shorten suggested that government regulations on bitcoin should be more stringent to mitigate the chance it could be used illicitly by terrorists and cybercriminals.
Shorten, who leads the Australian Labor Party argued that as criminals are already seeking to "obscure their financial deals", and that digital currencies could become a prime target for exploitation when paired with the anonymity afforded by the dark web.
Shorten said:

Quote:"We must target this threat head on. As terrorists adapt their methods and seek to hide online, we must ensure our agencies have the tools, resources and technology so terrorism has no place to hide.
The comments are the latest sign out of Australia that the government is beefing up its efforts to regulate and control encryption services.
Earlier this month, both Prime Minister Malcolm Turnbull and attorney general George Brandis went public with their belief that the pervasive use of encryption is proving problematic for law enforcement.
Further, the developments come amidst a wave of new increased attention for the more negative use cases of bitcoin. Following major ransomware attacks, law enforcement discussion now appears more active and critical of the emerging technology.

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