Seeing Through Regulation, Banking on Bitcoin, and a Sheer Art Attack
Welcome to the CoinDesk Weekly Review 16th March 2014 - a regular look at the hottest, most thought-provoking and most controversial events in the world of digital currency through the eyes of scepticism and wonder. Your host ... John Law. Regulation issues. Mysteries in bitcoinland don't stay mysteries for long. Take the world record transaction, which was noted in the block chain last November, when nearly 200,000 bitcoins hit a single wallet. Who was behind it? Turns out it was Bitstamp, which has just released details of an audit that confirms the transaction. Why publish an audit when....
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UK based banking institutions are keeping Bitcoin reserves for potential ransom payouts to hackers in the case of a cyber attack. Last week the internet witnessed what could probably be the largest attack till date. Many reputed online services across the world were hit by a DDOS attack, leaving them inaccessible for hours. As cyber threats continue to rise, the banking institutions in London are preparing themselves for the worst case scenario. The DDoS attack, to which companies like Twitter, Netflix, Spotify, Reddit and more fell victim was found to be launched using a special code. The....
The top U.S. banking regulator has confirmed that positive cryptocurrency regulation is coming in a matter of weeks, by the end of the Trump term. “It’s going to work for everybody,” said the regulator, adding that the new regulation will “make it easier for crypto investors to know how to invest,” therefore attracting more institutional investors. New US Crypto Regulation Will ‘Work for Everybody’ Acting Comptroller of the Currency, Brian Brooks, answered some questions about the upcoming U.S. cryptocurrency regulation in an interview with....
The European Banking Federation (EBF), which represents Europe's largest banking groups, unveiled its vision for digital currencies and cryptocurrency regulation. The group called upon governments and businesses to develop a framework for bitcoin regulation, pointing out that further research and ongoing evaluations of rules should be made. In particular, the group proposed that a comprehensive framework for cryptocurrency regulation based on existing anti-money laundering laws could be applied. It also acknowledged that the blockchain, which refers to bitcoin's distributed public ledger,....
The Swedish central bank’s governor says bitcoin will face tougher regulation given its sheer popularity that continues to grow. “When something gets big enough, things like consumer interests and money laundering come into play,” said Stefan Ingves, Governor of the Riksbank. Tougher Regulation Expected for Bitcoin Stefan Ingves, the governor of Sweden’s central bank, the Riksbank, said Monday that bitcoin and other cryptocurrencies are unlikely to escape regulatory oversight due to their sheer popularity, Bloomberg reported. Even though regulators have voiced their....
Regulation in the world of Bitcoin and cryptocurrency is often seen as a double-edged sword. But if Circle has a say in the matter, more regulation will be beneficial, and it is direly needed as well. The benefit of regulating Fintech and Bitcoin is how it would give both industries a more legitimate appeal. Far too often, media outlets and consumers see....