Blockchain News

U.S. SEC Interested In ‘’Enterprise Data Subscription For Blockchain’’

Published

7 months ago

July 6, 2019

U.S. SEC is now interested in engaging an enterprise-wide data subscription for blockchain ledger data according to the latest reports by the regulator aiming to provide clarity for blockchain companies. In the latest cryptocurrency news, we find out more about the idea of the regulator.

It is widely believed that the U.S. SEC has not really been active enough regarding the regulation of the blockchain sector. However, now, according to the report

“The United States Securities and Exchange Commission…intends to procure a commercially available off-the-shelf (COTS) enterprise-wide data subscription for blockchain ledger data to support its efforts to monitor risk, improve compliance, and inform Commission policy with respect to digital assets.”

The U.S. SEC is now getting interested in data on Bitcoin and on the Ethereum blockchains among some of the other leading chains:

“At a minimum, the subscription shall include the Bitcoin and Ethereumblockchains…In addition, the subscription shall include as many as possible of the following blockchains: Bitcoin Cash, Stellar, Zcash, EOS, NEO, and XRP Ledger.”

Congressman Warren Davidson among some of the other lawmakers, truly believes that the United States should create improved guidelines so that other companies can begin adhering to the new regulations. For example, Minnesota Congressman Tim Emmer stated that he believes the blockchain might be essential to making sure that the United States stays in advantage over other countries regarding the technology. He pointed out that blockchains might change the way people live immensely by saying:

“This stuff has the potential to completely decentralize the way we live and make the individual central to the way they live their life.”

As recently reported in the coming altcoin news, the criticism comes from people from the U.S. SEC itself. The Commissioner Hester Pierce named the ‘’Crypto Mom’’ pointed out that the regulatory agency’s attitude towards Blockchain was at a very unsatisfying level. She described the agency as ‘’old’’ and stated that the regulator has not been ‘’historically great with innovation.’’ The fact that the SEC wants some more information about the blockchain sector could be a major bullish sign. This should not surprise you since the International Data Corporation study showed that the government spending on blockchain will increase significantly in the next few years.

DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at editor@dcforecasts.com

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Stefan

Stefan is a full-time member and has been a Bitcoin Specialist for over 6 years. Providing daily news and updates for DC Forecasts.

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Blockchain News

Iran’s Government Grants More Than 1000 Crypto Mining Licenses

Published

14 mins ago

January 27, 2020

Stefan

According to a new report from the Islamic Republic of Iran, Iran’s government is allegedly creating a policy that will benefit the cryptocurrency miners in the country, by granting them over 1,000 licenses. In our latest cryptocurrency news, we take a closer look at what this could mean for the nation.Iran’s Government and other countries throughout the globe, make noticeable advances in regulating the cryptocurrency sector, concretely in the sphere of the supervision of the cryptocurrency mining industry. One of the most important news this week was a report that the Islamic Republic of Iran had given over 1,000 crypto mining licenses to cryptocurrency firms in the country. The vastly represented firms in the ones that got the licenses are large cryptocurrency mining farms that are the only ones at this moment to bear the huge electricity costs.The news comes from an official from ICT Guild Organization, Amir Hossein Saeedj Naeini. According to him, the cryptocurrency mining industry in the country is still young, while there is the belief held by many that the country has huge potential, which is attracting a huge number of people to Iran But to be mining cryptocurrencies in a legal way, every existing and new miner must hold an official license. According to Amir Hossein Saeedj Naeini:

“The Ministry of Industry, Mine and Trade has issued more than 1,000 licenses for cryptocurrency mining in the country.”

Additionally, he also noted that the cryptocurrency mining industry has the potential to generate another $8.5 billion to the economy of the Islamic Republic of Iran, according to a certain new government study. But there are certain obstacles in achieving the goal, with the biggest being the high electricity costs that are facing miners in the country. As is wildly known a lot of computing power and electricity is needed for cryptocurrency mining. This is a huge obstacle and challenge for crypto miners in the Islamic Republic of Iran because only big firms can have the luxury to work, while smaller enterprises are forced to close.

“High electricity tariffs plus stringent regulations have made the sector less appealing for small investors.”

Besides this the official from the ICT Guild Organization, Amir Hossein Saeedj Naeini noted that more discussions will be held in order favorable conditions are found for the cryptocurrency mining industry.

Blockchain News

Crypto And Blockchain Firms Are Trying To Help Coronavirus Victims

Published

1 day ago

January 26, 2020

Stefan

A couple of crypto and blockchain firms are now pitching in to help victims of the coronavirus in Wuhan, China. Today, the Binance news also showed that the exchange pledged to donate 10 million Chinese yuan ($1.44 million) to the effort.A tweet on January 25 by the head of the exchange Changpeng Zhao said that Binance made the pledge but did not make any announcements after a Twitter user tagged him in a news article where they talked about cryptocurrency donations accepted for the cause.

“For #Wuhan, not realistic to do crypto to end beneficiaries. Binance pledged 10m RMB ($1.5m USD) to help #coronavirus victims. We didn’t make any announcements. But [Binance Charity Foundation] BCF/Binance team has been busy for the last few days. Still need help to arrange logistics locally,” he said.

The initiative of many crypto and blockchain firms trying to help the victims has been praised by many in the crypto news world.According to a WeChat post by the blockchain marketing service firm Krypital , the firm also launched a charity donation effort to acquire medical supplies for the coronavirus victims. Krypital also said that it will create a blockchain based donation system which allows for greater transparency and efficiency. The firm also accepts Tether (USDT) on the Ethereum blockchain.Krypital also said that they are recruiting volunteers for group administration, as well as material purchases, sorting and transportation management. They are also hiring graphic designers and are in the media with a lot of announcements. According to analysts, many other crypto and blockchain firms will take this initiative as inspiration to commit to the coronavirus cases.As the media reported, Bitcoin (BTC) slumped 6% on the Chinese New Year and a lot of uncertainty surrounding the spread of the virus. On January 26, Fox News said that the current death toll of the virus is 56.Today, we can see a good influx of capital in the cryptocurrency market as Bitcoin comes closer to $8,500. The altcoin news also show new increases as Ethereum (ETH) rises to $164 and XRP is stable at $0.2239 again. The biggest gainer is Bitcoin Cash (BCH) which surged by 9% and is now trading at $336.The total cryptocurrency market cap is at $233 billion and finally moving above the $230 billion mark.

Blockchain News

NedBank Won’t Shut Down Crypto Exchanges Accounts

Published

2 days ago

January 25, 2020

Stefan

Contradicting reports that a closing down is considered for the accounts of cryptocurrency exchanges in the country, the well-known South African bank, Nedbank is not up to this as we are reading more about it the latest cryptocurrency news today.According to the SACrypto, a South African cryptocurrency news media, the reports that Nedbank has plans to close down bank accounts of cryptocurrency exchanges are not true. Speaking about the issue, the CEO of AltcoinTrader, the well known South African cryptocurrency exchange platform said:

“I commented in the IT Web article about Nedbank closing crypto accounts. But I believe it has turned into media hype. The reality is: Nedbank is no longer taking on new accounts for crypto-related companies, but they are not closing current accounts.”

As it was reported in a previous occasion by DC Forecasts FNB closed down accounts that were linked to cryptocurrency exchanges in November of 2019. But stakeholders at a major South African cryptocurrency exchange claim that the friendly Nedbank that is among the big five in South Africa does not have plans about adopting policies of that kind.On Friday, January 24, 2020, the South African tech publication ITWeb had reported that Nedbank will probably follow the actions of FNB in closing the accounts of the cryptocurrency exchanges. According to ITWeb, officials from Nedbank told the tech publication that the bank was in the process of internal discussions on how to act towards their clients from the cryptocurrency sector. With the reports about the searching ways to withdraw support for cryptocurrency exchange platforms by the banks in South Africa, the people involved in the industry are asking the government for the faster enacting of clear cryptocurrency regulation in the nation.In December of 2019, there were reports that the South African government had the intention to enact new laws to regulate the cryptocurrency market. This new regulation will mainly focus on regulating the use of cryptocurrencies in illegal money transfers. The government in South Africa has remained limited to be tax compliant and to track crypto transactions and bitcoin is still popular in the country as the data from Google trends shows. Bitcoin’s popularity in South Africa made the country the perfect climate for elaborate scams as well.

Blockchain News

US Military Gets Under Threat From Crypto Ransomware Malware

Published

3 days ago

January 24, 2020

Stefan

The US military I snow under threat according to cyber-security researchers who are warning that a powerful email ransomware malware is targeting their systems. The Emotet malware is used as an attack vector which allows Trickbots and ransomware attacks as we are reading further in the crypto news today.Last year in December we saw that the Emotet malware was the biggest threat and it seems that it remains that way since its main attack vector is through spam email campaigns that have malicious links or Microsoft Word document in it. By clicking the link or simply opening the document will download the malware to the computer and at this point, the malware will propagate itself by harvesting the email contacts and continuing the spam cycle. It can also analyze the regular contracts and respond to ongoing email threads which make it harder to recognize as a threat.Over the past few months, Emotet managed to successfully compromise a few targets in the US government and this led to an increase in infected emails that target the addresses with .gov and .mil which are the top-level domains in 2019. After the brief break for the Orthodox Christmas, the trend continued throughout the month. The malware can also mimic the email language and as an example, an email was sent targeting a staff member to the US Senator Cory Booker. This email contained signatures indicating that it originated from someone else that uses booker.senate.gov tag.The US Military got this kind of malware since Emotet is financially motivated according to the researcher Cisco Talos, ick Biasini. There are a lot of examples of Emotet being an initial infection vector that can be seen but then you can see a Trickbot is dropped and that’s followed by the ransomware. If you have seen there is a lot of this huge malware that can do a lot of harm and Emotet plays a huge role as well. The ransomware aims to access the encrypted systems’ data with operators demanding payment in crypto or bitcoin for the decryption key.The other malware in Check Point Research that was noted in the report for 2019 is the XMRig. This was an open-source software for hijacking the CPU resources for mining Monero and in many ways is really impressive that this malware rates highly.