Old Canadian Finance Dept. Memo Warns of Criminal Attraction to Bitcoin
A newly-released memorandum dating back to May 2013 (and obtained via the Canadian Access to Intermation Act) originating at the Canadian Finance Department suggests that bitcoin and digital currencies could serve as "an attractive payment method for criminals," The Canadian Press reports. The internal memo was said to have been prepared for now-deceased finance minister Mr. Jim Flaherty, and while it makes no indication as to what the levels of abuse are, it does make clear that bitcoin can be used for illicit purposed. Sound familiar? That's because cash can be used for these purposes,....
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Anyone who remembers the movie “Reefer Madness” understands that sometimes government warnings are exaggerated. According to the classic anti-marijuana movie a simple puff on a marijuana cigarette would turn an innocent person into a homicidal maniac. This movie was almost 80 years ago but we can see the same tactic being used today with respect to cryptocurrencies. Before Canada become one of the first countries to regulate Bitcoin, its Finance Department issued a memo back in May 2013 prepared for former finance minister Jim Flaherty, saying that the digital currency has raised flags....
United States Attorney General Eric Holder has warned of potential criminal attraction to bitcoin and other virtual currencies, according to The Wall Street Journal (paywall). "More than ever before, the department's law-enforcement work today must contend with new and emerging technology, including virtual currencies such as bitcoin," Holder was quoted as saying to the House Judiciary Committee at a hearing on Tuesday. "Virtual currencies can pose challenges for law enforcement given the appeal they have among those seeking to conceal illegal activity." At the center of this "illegal....
An internal JPMorgan memo reveals that the lender plans to invest $9 billion in technology like robotics and the blockchain, according to Business Insider, which claims to have seen the memo. Daniel Pinto, the head of JPMorgan’s corporate and investment bank, sent the memo, which claims a major priority is to pursue innovative technologies in which they have been investing. Internal working groups have made “significant advances” and will receive additional freedom to create marketing leading platforms in the next year, the memo states. JPMorgan also has established teams for robotics,....
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Two years ago, an onchain social network called memo.cash was launched and the application has developed quite a bit since then. On Tuesday, the Memo team revealed that the platform is now available for iOS phones via the App Store. Apple users can now connect to the social network that etches a user’s content to the Bitcoin Cash blockchain. During the last few years, especially with deplatforming on the rise, uncensorable forums, immutable streaming video apps, and onchain social media projects have been developed. Worldwide governments in collaboration with Big Tech have managed....