Illicit crypto usage as a percent of total usage has fallen: Report
A rapidly growing crypto market means that hacks and scams are accounting for less overall activity, and their percentage of total usage continues to decline. Illicit cryptocurrency activity in 2021 and the first quarter of 2022 has declined as a percentage of overall crypto activity, according to blockchain forensics firm CipherTrace.The cryptocurrency industry has long held a reputation in some jurisdictions as a haven for illegal activity. However, CipherTrace estimates that illicit activity was between 0.62% and 0.65% of overall cryptocurrency activity in 2020. The firm reported that....
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It's Sunday, and you know what that means. It's time to take a look at last week's poll! In that poll we asked the seemingly age-old question of what the bitcoin abbreviation should be. Most commonly in the community, XBT or BTC have been widely used. But because bitcoin is decentralized, there has been both agreement and disagreement on standards and conventions, since there's no one authority to say what is or is not proper. So getting back to the results, there were a total of 308 votes (and you can look for the weekly poll in the lower right of every page if you're interested). A....
ETC Group, an ETF issuer company, released a report last month about the evolution of Bitcoin Cash in the years after the hard fork that created it. While the company acknowledged the asset price is lagging compared to its older sibling, it praised the crypto on other aspects like development and actual usage. Bitcoin Cash has improved regarding these two metrics, likely helped by the inclusion in several important platforms such as Paypal.
Bitcoin Cash Examined by ETC Group
ETC Group, a financial services company based in London, has issued a report on Bitcoin Cash. The report,....
The White House Office of Science and Technology Policy reaches mixed conclusions about crypto and the climate, against a background of rapid technological change. The White House Office of Science and Technology Policy (OSTP) has weighed in on the environmental and energy impact of crypto assets in the United States, finding that crypto makes a significant contribution to energy usage and greenhouse gas (GHG) emissions. It recommends monitoring and regulation in response.The report, released Sept. 8, was the latest to come out of the U.S. President Joe Biden’s March executive order (EO)....
The Bank of Spain has issued a new report that touches on the subject of the popularity of cryptocurrency usage and the possible effects it might have on the financial stability of the nation. In the document, the bank explains that these assets — which ostensibly don’t have any kind of support behind them — can introduce systemic risks via their adoption by traditional institutions and the lack of regulation over them.
Crypto Assets Could Cause Systemic Risks According to the Bank of Spain
The Bank of Spain has issued a new report where it warns about the....