Stablecoins issued by private companies like PayPal not only threaten the financial stability of the economic sector, but could also impede healthy competition within the market were they to achieve a dominant and monopolistic position, according to European Central Bank executive board member Fabio Panetta. “Private providers of payment services, including PayPal, have no incentive to limit the take-up of…
Crypto scams targeting MetaMask users are using government-owned website URLs to con victims and access their crypto wallet holdings. Ethereum-based crypto wallet MetaMask has been a long-standing target for scammers — which involves redirecting unwary users to fabricated websites that request access to the MetaMask wallets. Cointelegraph’s investigation on the matter found numerous government-owned websites being used to perpetrate this…
One of the largest South Korean banks, Korea Exchange Bank (KEB Hana Bank), is moving to offer digital asset custody services through a new partnership with major cryptocurrency custody firm BitGo Trust Company. KEB Hana Bank has signed a strategic business agreement with BitGo to jointly establish digital asset custody in South Korea, the local news agency Yonhap reported. The…
The principal financial regulator of Japan, the Financial Services Agency (FSA), has decided to take crypto regulation into its own hands and has proposed to change the tax code in regard to digital assets. The request was submitted by the FSA on Aug. 31. The most notable suggestion in the 16-page document is a bid to free domestic firms from…
Bitcoin (BTC) has been on a bull run for the past six months or so and the market is yet to respond — but it will in around six to 12 months, according to BitMEX co-founder and former CEO Arthur Hayes. In a Sept. 5 keynote speech at Korea Blockchain Week, Hayes argued Bitcoin’s bull run began on March 10,…
Quantstamp’s Richard Ma explained that the coming surge in sophisticated AI phishing scams could pose an existential threat to crypto organizations. Source: https://cointelegraph.com/public/index.php/news/crypto-scams-more-sophisticated-with-ai-arms-race-quantstamp-richard-ma
The centralization of nodes is one of the biggest problems facing the Ethereum network and should be addressed by making the running of nodes cheaper and easier, according to Ethereum co-founder Vitalik Buterin. At current, the majority of the 5,901 active Ethereum nodes are being run through centralized web providers like Amazon Web Services (AWS), which many experts claim leaves…
Australian crypto exchange Swyftx is launching a new “Earn and Learn” crypto education platform, aimed at rewarding its users for completing courses covering an array of crypto scams. The new educational platform will launch on Sept. 6 and comes amid heightened attention over crypto-related scams in Australia. Swyftx’s head of corporate affairs, Tom Matthews, said the aim is to better…
Pocket-sized Bitcoin miners are a stand against the “secrecy and exclusivity” of the Bitcoin mining industry, according to their inventors. Source: https://cointelegraph.com/public/index.php/news/cheap-micro-bitcoin-miners-fight-btc-mining-concentration-inventors-argue
While lacking in performance, micro Bitcoin mining devices should be seen as a stand against the Bitcoin ecosystem’s purportedly biggest flaw, its inventors argue. Micro Bitcoin mining devices — often open-source and pocket-sized — have been serving a niche part of the market, offering buyers a fully assembled device or a do-it-yourself-kit to mine Bitcoin (BTC) solo. Speaking to Cointelegraph,…
