Connect with us

Bitcoin

Huawei CEO: China Can Issue Our Own Version Of Libra

Sying Tien

Published

on

During press conference held in Italy on July 18th, Ren Zhengfei, Huawei CEO was asked by Fabio Savelli (an Italian reporter at The Evening Post ) about Facebook plans to issue a digital currency.

Fabio Savelli asked: We know that Facebook has announced that it will issue a digital currency based on blockchain , called “Libra Coin”. Do you think this is a US technology company to maintain the world domination with the US government? , do you think that when issuing digital currency, will they consider Chinese companies or put Chinese currency in their currency baskets?

And Ren Zhengfei answer was: China can also issue such a currency by itself. Why wait for others to issue it? The power of a country is always stronger than an Internet company.

This was published by the Chinese media outlet Sina.

Continue Reading
Comments

Bitcoin

Drug Enforcement Administration Awards 130K Contract to Chainalysis

June G. Bauer

Published

on

The Drug Enforcement Agency (DEA) has awarded Chainalysis with a $134,000 USD contract for a one year license to use their platform track cryptocurrencies used in drug related activities in Dark Web.

Cyber criminals are using Dark Web to hide their tracks when performing illegal activities like drug trafficking. Bitcoin and Monero cryptocurrencies are the preferred mode of payment for purchases on the dark web as they are hard to trace.

Authorities have deployed a wide array of different techniques to identify and ultimately convict dark web drug dealers, child pornographers, and more in the past several years.

Chainalysis has charting capabilities that have been used to show investigators how Bitcoin transactions are conducted and how they can be used as a tool to identify targets, the Bitcoin Exchanges they are using , and how to subpoena the exchanges for personally identifying information and bank information of targets . The identification of the wallets allows investigators to identify the level of trafficking conducted by the target , as well as the assets that can be seized when a search warrant takes placeChainalysis is currently being used to track targets in Canada , China , United Kingdom ,and within the United States.

Chainalysis has provided the authorities with cryptocurrency analytical tool used to help identify drug traffickers and trace their assets. This tool will be used by analysts in OSI and OSS to support field investigat i ons that involve the use of cryptocurrency . It will enhance other tools and techniques being currently used in OSS and OSI by helping to deanonyrnize the target and identify cryptocurrency exchanges the person is using.

Screenshot of the Chainalysis LSD

Continue Reading

Bitcoin

Egypt Might Issue Its Own Cryptocurrency

M. Ali

Published

on

By

A well-informed source in the Central Bank of Egypt told Al-Monitor (a popular online Middle Eastern news portal ) that CBE (Central Bank of Egypt) is currently studying the effects of cryptocurrencies and ways to regulate it. The source said that CBE might issue it’s own cryptocurrency in the near future.

If this turned out to be true, Egypt will be the fourth country in Middle East to issue its own official cryptocurrency. Earlier this year, Saudi Arabia and UAE announced that both countries will be implementing a new cross border payment system using cryptocurrency. The Turkish government revealed its upcoming plans to adapt blockchain technology and cryptocurrencies.

Last month, the Central Bank of Egypt announced that it is working on a draft law for cryptocurrency related activities and banned creating, promoting or operating platforms for issuing or trading encrypted currency or cryptocurrency without obtaining the necessary licenses in advance.

Continue Reading

Bitcoin

Armanino Begins Accepting Cryptocurrency Payments

June G. Bauer

Published

on

Armanino accounting and consulting firm begins accepting cryptocurrency payments for its services. Armanino is one of the 25 largest accounting and business consulting firms in the U.S., It’s clients can pay using Bitcoin, Ethereum, XRP, Litecoin.

Armanino has implemented a crypto onboarding service that includes preparing and consulting clients on the best practices for treasury, accounting, financial reporting, compliance and tax considerations, as well as the means to perform transactions in the new digital asset economy. 

About Armanino

Armanino provides an integrated set of audit, tax, business management, consulting and technology solutions to companies in the U.S. and globally. The firm helps clients adapt and change in every stage of business, from startup through rapid growth to the sale of a company. Armanino emphasizes smart technology, leading a cloud revolution of financial, operational, sales and compliance tools that are transforming the way companies do business.

Continue Reading

Trending