Month: July 2021

Binance Deploys Crypto Monitoring ‘Traveler’ System to Comply With FATF Travel Rule

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Binance announced yesterday it deployed Ciphertrace’s Traveler system as part of its compliance efforts. Traveler is the first system designed for exchanges to comply with the Travel Rule proposed by the Financial Action Task Force. The exchange would be among the first wave of exchanges implementing this automatic Travel Rule compliance system. Binance Implements Ciphertrace’s … Read more

Bitcoin Blocks Will Soon Be 27% Easier to Find — Miners Brace for the Largest Difficulty Drop in BTC’s Lifetime

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Bitcoin, the leading crypto asset in terms of market capitalization, has seen the cryptocurrency’s network hashrate drop considerably during the last two weeks. On Saturday, July 3, the network’s mining difficulty will see the largest epoch drop in history as the difficulty is set to slide by more than 27%. Bitcoin Difficulty Expected to Drop … Read more

US State Department Official Wants El Salvador to ‘Ensure Bitcoin Is Well Regulated’

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The U.S. Department of State’s undersecretary of state for political affairs, Victoria Nuland, has explained during a press conference that the U.S. has urged El Salvador to be responsible with the country’s new bitcoin law. Nuland told the press that the U.S. was taking a “tough look at Bitcoin” and that Salvadoran president Nayib Bukele … Read more

Bank of Russia to Study Risks of Crypto Investing With Banks and Payment Providers

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The Central Bank of Russia (CBR) has set out to examine the risks associated with cryptocurrency investments. The regulator is going to conduct a dedicated study with the participation of major banks and payment processors operating in the Russian market. CBR Adds Crypto to Its Survey Program for 2021 Russia’s central bank, known as Bank … Read more

Venezuela to Slash Six Zeros From Its Currency to Facilitate Payments

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The government of Venezuela is considering a new redenomination of its fiat currency. The proposal that is under study would cut six zeroes from the inflation-affected Bolivar. This would aid companies in processing taxes and provider payments that are absurdly complex with today’s numbers. However, the dollar is the predominant coin in retail payments in … Read more

STIR/SHAKEN: Phone Calls of the Future

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Spam calling is rampant in the United States. American citizens are inundated with over 175 million robocalls every day. It’s gotten so annoying that 90% of people refuse to pick up for unknown callers. The problem is more than annoyance: phone scams cost Americans $10 billion in 2020 alone.    The problems at the receiving … Read more