Ethereum 

FDD Assesses Risks of Crypto Use by Countries Under US Sanctions

The American Foundation for Defense of Democracies (FDD) has assembled an assessment of current and future risks of cryptocurrency use by countries adversarial to the United States in a report published on July 11. In the report, the agency outlines possible future scenarios that would make blockchain technology sanctions resistance a larger threat. Specifically, the FDD analyzed how countries such as Russia, China, Venezuela, and Iran are deploying digital currency technology, and in what way this phenomenon could influence United States sanctions in future. In the report, the FDD warns…

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Blockchain 

Regulatory Overview of Crypto Mining in Different Countries

A move by the Iranian government to cut off the power supply to local Bitcoin (BTC) miners grabbed headlines in June amid a soaring price gain by the preeminent cryptocurrency. As Bitcoin surged to prices not seen since 2017, a rising hash rate mirrored renewed interest in the cryptocurrency. By July 1, the Bitcoin mining hash rate surpassed 69 quintillion hashes per second. Nevertheless, the action by Iranian officials is a stark reminder that regulatory moves can still hold sway over the use of cryptocurrencies around the world. The Bitcoin…

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Bitcoin 

Bitcoin Generates More Carbon Emissions Than Some Countries, Study Warns

The carbon emissions generated by bitcoin (BTC) are comparable to the whole of Kansas City, and even a small country, according to a study published in the Joule journal on June 12. Christian Stoll, one of the researchers involved in the project, said the large energy consumption generated through mining translates into a significant carbon footprint. And, as the computing power needed to solve a bitcoin puzzle has more than quadrupled since last year, it is a problem that is getting worse, the study notes. It adds: “The magnitude of…

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Bitcoin 

Binance DEX Will Geoblock Users From 29 Countries, Including the US

The decentralized exchange (DEX) developed by major cryptocurrency exchange Binance will block access to users based in 29 countries. The DEX informs potential users of the restriction via a message that appears when accessing the platform from one of the regions. The message appearing on the platform states: “It seems you are accessing www.binance.org from an IP address belonging to one of the following countries: USA, Albania, Belarus, Bosnia, Burma, Central African Republic, Democratic Republic of Congo, Democratic People’s Republic of Korea, Cote D’Ivoire, the Crimea region of Ukraine, Croatia,…

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Bitcoin 

Coinbase Earn Now Available to the Public in Over 100 Countries

Major crypto platform Coinbase has opened its Coinbase Earn program to the public in over 100 countries, according to a press release on May 17. As Cointelegraph reported, Coinbase first announced the program at the end of 2018 as an invite-only initiative. This pilot period let users earn cryptocurrency by learning about the ERC-20 token “0x” (ZRX). Coinbase stated that according to a survey they conducted, uninformed users were reluctant to invest in crypto but were eager to learn: “…one of the biggest barriers preventing people from exploring a new…

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Blockchain 

Over 50 Banks Simulate Letter of Credit Transactions on R3’s Blockchain in 27 Countries

Over 50 banks participated in the simulation of letter of credit transactions on R3’s blockchain platform in 27 countries on six continents. The company announced the development in a press release published on May 8. Per the release, 96% of the participants said that the system — dubbed Voltron — will accelerate and reduce the cost of their letters of credits procedure. Furthermore, 86% of them reportedly believe the inefficiencies of the traditional system are becoming intolerable. The company claims that Voltron cuts the execution time of the procedure from…

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Blockchain 

Iran Reportedly in Talks With 8 Countries to Use Crypto Transactions

Iran is reportedly negotiating with eight countries to carry out financial transactions in cryptocurrency, local daily newspaper Tehran Times reports on Monday, Jan. 28. According to the article, Iran has already entered negotiations with Switzerland, South Africa, France, the United Kingdom, Russia, Austria, Germany and Bosnia, and the countries have reportedly visited Iran to discuss the matter. It was not immediately clear whether the news concerns the national cryptocurrency that Iran is allegedly set to launch vin the near future. However, the article notes that the talks on crypto transactions…

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Bitcoin 

How Countries Have Been Classifying Crypto Across the World

On Jan. 23, the United Kingdom’s Financial Conduct Authority’s (FCA), the domestic financial regulator, released a 50-page-long consultation paper dubbed “Guidance on Cryptoassets.” As the U.K. seems to be moving closer toward rolling out a definitive regulatory framework, it is time to reassess how other crypto markets, specifically the major ones, are dealing with cryptocurrencies on the juridical level. “Guidance on Cryptoassets,” reviewed: How the U.K. is going to deal with virtual currencies Given the tone of the new FCA paper, the U.K. government seems to be leaning toward a…

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Bitcoin 

Canadian Platform to Become the Major Global Crypto Exchange by Expanding to 100 Countries

Despite the downturn that shackled the crypto markets in 2018, there is a renewed sense of optimism, as some experts believe the crypto market could fare better in 2019. Canadian-based CoinField plans to make crypto trading more accessible and cheaper for investors — irrespective of where they live — so they can take advantage of when crypto prices go green. The exchange intends to become one of the largest trading platforms for cryptocurrencies. It is already available in 101 countries and the team plans to expand the service to more…

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Bitcoin 

Cryptojacking Overtakes Ransomware as Top Malware in Some Countries

Cryptojacking, the unauthorized use of another’s hardware to mine cryptocurrency, has become the biggest cyber threat in many parts of the world, Bloomberg reported Dec. 14. According to research from cyber security research firm Kaspersky Lab, cryptojacking overtook ransomware as the biggest cybersecurity threat particularly in the Middle East, Turkey, and Africa. In Afghanistan and Ethiopia over one out of four detected malware are cryptocurrency miners, according to Kaspersky’s data. As cited by the Bloomberg, Kaspersky’s research “shows crypto mining attacks have risen almost fourfold in the region, from 3.5…

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