The use of crypto in criminal activity has reportedly significantly increased since the AFP made its first crypto seizure in early 2018. Law enforcement in Australia is working to boost cryptocurrency expertise and trace crypto transactions by setting up a dedicated police group. The Australian Federal Police (AFP) has established a new cryptocurrency unit to…
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The law enforcers like the IRS and FBI track Bitcoin with blockchain data and collaborate with private companies in an attempt to trace criminals and taxes. What happens with unreported cryptocurrency? Not reporting Bitcoin despite the obligation to do so may have severe consequences for individuals’ lives and finances. The fine for making an incorrect…
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Bitcoin transactions are easily traceable through blockchain explorers but do not directly reveal the identities behind Bitcoin wallet addresses. Should I share my Bitcoin address publicly? It is not a problem to share public keys, but make sure the private key cannot be found by third parties. Transactions can be sent to the public key,…
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The U.S. government banning the ethereum mixing service Tornado Cash and the enforcement that has followed has the crypto community in an uproar about the event. A large number of crypto and privacy advocates have spoken out against the actions the government has taken so far, and the nonprofit advocacy group Fight for the Future…
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Crypto mixers – services that exist to increase the anonymity of crypto users – are more popular than ever, while illicit addresses account for 23% of funds sent to mixers so far this year, a new report from blockchain intelligence firm Chainalysis has found. The 23% number for these seven months of 2022 marks a…
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Central bank digital currencies (CBDCs) are coming, while several are already here. For central banks, they provide a means of lubricating and digitalizing the global economy, with a November report from JPMorgan and Oliver Wyman concluding that CBDCs could save companies USD 100bn per year…. Read More: CBDCs Are Likely to Make You Less…
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The ECB drops another working paper on the digital euro, causing more outrage from Europeans opposing a central bank digital currency. The European Central Bank (ECB) continues pushing its central bank digital currency (CBDC) project despite Europeans apparently not feeling too positive about a digital euro. The ECB released another working paper on the digital…
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While blockchain monitoring has increased a great deal during the last few years, cryptocurrency mixers have seen significant use from those who don’t want their financial transactions tracked. Meanwhile, two mixing applications, Tornado.cash and Cashfusion, have helped crypto owners make their ethereum and bitcoin cash less traceable. The two applications combined recorded more than $8…
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The Russian State Duma approved a bill on crypto taxation in early 2021 but the bill has yet to move any further. The Russian Federal Taxation Service (FNS) is actively monitoring the cryptocurrency market to prevent tax evasion, FNS head Daniil Egorov said. Cryptocurrencies can potentially cause “significant erosion” to Russia’s tax base, Egorov argued…
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US Securities and Exchange Commission (SEC) Commissioner Caroline A. Crenshaw identified two specific structural problems that the decentralized finance (DeFi) industry needs to address: a lack of transparency and pseudonymity…. Read More: DeFi Industry Must Tackle Lack Of Transparency, Pseudonymity: SEC Commissioner Read more »Pay, Trade, Buy Bitcoin with Credit Card
