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Sberbank Bank In Russia Demands Income Data From Cryptocurrency By Client

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Sberbank bank, Russia’s largest financial institution requested a single client to provide information on their income made by cryptocurrency. According to the reports that reached our latest cryptocurrency news, we read more in the text below.

According to the Forbes Reports, the co-founder of the tokenbox.io crypto trading platform Vladimir Smerkis, the unnamed client received a letter from the Sperbank bank requiring information on the crypto revenue. The letter based its request on the Federal Law no.115 ‘’on Combating Money Laundering and Terrorism Financing.’’ The client had informed the bank previously about the income from exchange cryptocurrencies. However, the bank wanted to find out more. Sberbank requested to know the user’s crypto wallet address and what mining equipment was the client using, including the model and the parameters of the mining farm.

The bank also requested other documents including a confirmation of the ownership or lease of the mining equipment. Other documents that were required by the client were the premises housing of the farm. According to the reports, the bank confirmed the information.

Smerkis pointed out:

 “We are very much perturbed by how the Sberbank bank can appeal to terms that do not yet exist in Russian law.”

The CEO of the decentralized exchange Tokenomica Artem Tolkachev also responded to this request saying that Sberbank ‘’operate within their regulatory framework for handling cash. So it is a way of legally introducing cryptocurrency revenues into circulation.’’

The Prime Minister of the country Dmitry Medvedev pointed out in the coming altcoin news that the crypto regulation is not a priority for the country anymore since cryptocurrencies are losing popularity. Medvedev previously urged the government to legislate at least some basic crypto terms. The hype around bitcoin has since dropped but the markets are still expected to rally as the prime minister concluded.

The crypto bill ‘’on digital Financial Assets’’ was passed by the lower house of the Russian parliament back in 2018 but it was sent back to first reading state instantly due to a lack of key terms such as crypto mining. Since then, the Russian Duma hasn’t initiated another reading for the crypto bill and subsequently, it always gets delayed.

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Cyber Criminal Activity Dominated By Crypto Mining Malware

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Cyber Criminal Activity
As the other industries are vulnerable to cyber criminal activity in 2020, just like that the cryptocurrency industry is vulnerable too, according to a Check Point Research’s cybersecurity report that we have in our crypto news today.In 2019, there was no organization, regardless of its size, that was exempted from cyberattacks. Cyber criminal activity is profitable because it is attractive to people without any morals. Researchers estimated that for 2018, cybercrime attacks made US$1.5 trillion. Bitcoin is strong because of the randomness of the data exchanges within the Bitcoin blockchain, and the utilization of sturdy encryption. In consequence, the blockchain and the data cannot be copied or infiltrated through malware or certain other malicious technology. However, transactions that are made around the blockchain are vulnerable to cyberattacks.For instance, the Cyber Security Report for 2020, underlines the threat to cloud infrastructures related to crypto-mining attacks.  While the value of cryptos, has fallen in value in 2019, cloud infrastructures are a huge target for crypto mining malevolent campaigns. The definition of crypto mining is software programs and malware components that are programmed to take over the resources of a given computer and utilize them for crypto mining without the permission of the host.Ransomware poses another threat that developed in a more sophisticated and becoming more targeted in the previous year. In the first part of 2019, in comparison to 2018, there was a 50% growth in attacks by mobile banking malware. According to the report: “27% of all organizations globally were impacted by cyberattacks that involved mobile devices.”The report gives the description of the malware that concretely exploits Bitcoin over any other crypto. For instance, Command and Control address update mechanism through public Bitcoin lists is included in Glupteba. So Glupteba is utilized to distribute a browser stealer or router exploiter. Also, Cryptoloot is utilized to do online mining of Monero coins when the intruder visits a web page lacking the authorization of the user. Furthermore, Danabo, a banking Trojan that has the target of Windows platform, that are also utilized to steal browser passwords and wallets. The report gives advice:
 “To prevent zero-day attacks, organizations first need incisive, real-time threat intelligence that provides up-to-minute information on the newest attack vectors and hacking techniques. Threat intelligence must cover all attack surfaces, including cloud, mobile, network, endpoint, and IoT, because these vectors are commonplace in an enterprise.”
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Rival Blockchain Attacks Are On The Verge On Increasing: Report

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It is no new news, that the rival blockchains, or to be more concrete, the teams that guide them, do not like each other. The community of Bitcoin mocks on Ethereum, while the community of EOS mocks on Tron, and so on, in a seemingly endless chain of barbs, enmity. Let’s find out more in the blockchain latest news today.However, does the verbal hostility between the cryptocurrency communities turns sometimes in something more hostile and destructive? Probably, if the attacks of the past like Verge and IOTA were the work of rival developers, instead of random hackers. According to some critics within the cryptocurrency community, we can be witnesses, to bigger attacks between the rival communities in one way or another, in the near future. In an already hostile atmosphere, this is probably to make the affairs between cryptocurrencies even worse and can lead to threatening the future of some cryptos.But developers related to rival blockchains are of the opinion that scenario like this is very unlikely. Yes, hackers who think they can profit from attacking a certain network could try to attack it, however, rivalry on itself has not incentivized enough developers to do the same. The first question, is, is there any evidence that one network has attacked another one or another way? In July of 2018, certain developers of Ethereum accused members of the EOS community of a Sybil attack, that in this case resulted in spam by airdrops of tokens that had no value to the Ethereum blockchain, which in consequence it inflated the price of the gas needed to process transactions.It is obvious, that no one associated with EOS took the responsibility, but the fact that around $2 million were spent to send the worthless tokens is an indication that the one behind the attack had quite bigger finance than the common user. Evidence of other rival attacks is scarce, while there are numerous breaches of a multitude of networks that happen over the past months and years. As for the future, there are some people within the cryptocurrency sector, think that rival cryptos will attack each other’s chains with intensifying intensity, in the next years.
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Sablier Payment Protocol Enables Streamed Salaries In Crypto

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Sablier, the payment protocol that allows users to send streamed salaries around the world in crypto, is leveraged by Ethereum and in our ETH news today, we find out more about this protocol.The users can now stream interest-bearing tokens such as CHAI and others can earn income in interest with the help of these tokens. This payment protocol announced the synthetic USD, wrapped BTC, wrapped ETH and CHAI as the cryptocurrencies that the users can choose to stream over the Dapp. Earning income in USD will allow for the seamless exchanges of the tokens for some other assets such as sXAU and also the users will get paid in a currency that can be easily invested into other digital assets.With the CHAI integration, the users are able to receive their income in an interest-earning asset. CHAI is basically a DAI that is wrapped in the Maker Protocol’s Dai Savings Rate and instead of locking the funds in DSR, one can choose to hold it in the CHAI and earn interest without having to lock up a huge portion of the funds. The token balance will stay constant to reflect the amount of the DAI deposited while the prices of the CHAI token increase reflecting the value that was accrued from the interest.  CHAI can be converted back to DAI with the help of the native interface or changed to ETH by using Uniswap. This possibility could gain even more traction if the token liquidity deepens on Decentralized exchanges such as Radar Relay and Kyber.Payment applications such as Sablier have already been here but very few can be used in a wide range of use cases. Most of these protocols focus on enabling one-time payments and a cost-effective problem-solving. Sablier is built by Paul Razvan Berg and will solve the problem that exists in the payment industry as a whole and not just the crypto payments. All of the companies that look to hire employees can now guarantee monetary security by streaming salaries via a crypto platform over a certain period of time. Instead of a one-time payment of about 1,000 DAI at the end of the month, employees can earn 1.38 DAI per hour. Freelancers that also work on a project-to-project basis will have bigger confidence that they will get paid in time.
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Blockchain Dispute Resolution Firm Listed On London’s Stock Exchange

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The Main Market of the London Stock Exchange now lists a new blockchain dispute resolution firm which uses smart contracts to manage arbitration and dispute resolutions around transactions. As officially announced on January 17, the firm intends to list on the LSE.Proof of Trust Ltd. is the name of the business and even though it did not give any financial details or timetable for the listing, the CEO Dean Armstrong said that the company was excited at the prospect of the listing and “look[s] forward to providing investors with the opportunity to share in this groundbreaking project."Additionally, the blockchain dispute resolution firm describes its proprietary technology in the crypto news as one that stands to be the first-ever "insurance protocol for blockchain transactions and smart contracts." As it stated:
"The Proof of Trust owns the worldwide patents to a protocol which facilitates clear dispute resolution based upon smart contract disputes which are highly efficient both in terms of speed and use of resources."
The system also delivers an anti-collusion algorithm which ensures the authenticity of the data used to execute smart contracts. Proof of Trust claims that the protocol has come to the attention of major governments and corporations globally and has been presented to a number of prime ministers.Now, the blockchain dispute resolution firm is probably going to gain more respect after it decided to seek a listing on the LSE and similar exchanges. The truth is, the crypto industry has long suffered from a poor reputation in the traditional financial circles and the lack of regulation during the ICO boom did nothing to alleviate this.The blockchain news now show that more and more crypto firms are choosing to go down the more traditional route and have an initial public offering (IPO) of shares on a major stock exchange. The first firm which did that on the LSE has been doing pretty well - Argo Mining has added 1,000 new mining machines and had seen its share price almost triple since May 2019, reaching £9.50 ($11.85) per share. Even though the price dropped back, it is still strong standing at £7.15 ($9.32) per share.The market news show that there might be a bullish run soon and that BTC could finally reach the $10,000 mark.
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