Sri Lanka’s central bank has selected a shortlist of three firms to develop a proof-of-concept for a shared Know Your Customer facility using blockchain. Sri Lanka’s central bank has selected a shortlist of three firms to develop a proof-of-concept (PoC) for a shared Know Your Customer (KYC) facility using blockchain. The project was initiated in…
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A Russian court turned down a request from a victim of a 100 Bitcoin theft seeking restitution, with the court arguing that cryptocurrencies have no legal status. On June 30, a Russian criminal court denied a motion to provide restitution to a victim of what would in many jurisdictions be a felony, arguing that Bitcoin…
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White supremacist Stefan Molyneux received roughly $100,000 in donations following the removal of his YouTube channel. Online supporters have donated nearly $100,000 in cryptocurrency to white supremacist and alt-right activist Stefan Molyneux following his removal from YouTube for “fomenting violence and hatred.” After Molyneux posted a video to his Twitter account on June 29 stating…
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After stakeholders raised concerns about the Australian Securities Exchange’s blockchain infrastructure plan, it has been postponed until 2022. The Australian Securities Exchange (ASX) has further delayed its switch to blockchain after public lobbying from key stakeholders. According to a June 30 update from the ASX, the exchange has officially delayed the rollout of Distributed Ledger…
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The Washington DC Bar Association became the fourth to issue an opinion endorsing crypto as an acceptable form of payment. Four bar associations across the United States have now issued opinions stating they are not opposed to cryptocurrency or digital currency as a form of payment for an advance or services rendered. The District of…
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The COMP token distribution raised some questions on a potential reprisal against DeFi from the SEC, given certain similarities with traditional stocks. Governance tokens in decentralized finance, or DeFi, have suddenly jumped into prominence following the success story of Compound’s COMP token, whose price action and liquidity mining program resulted in increased public interest. Unlike…
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Issues like financial inclusion and competition with China propelled a hearing on digital dollars before the U.S. Senate today. In a hearing before the Senate Banking Committee today, June 30, central bank digital currencies (CBDCs) took center stage before an audience of Senators looking to upgrade financial infrastructure and expand financial inclusion in the country.…
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Switzerland does not need to amend its current tax legislation to cover blockchain-based arrangements, the Federal Council believes. Switzerland’s existing tax law is applicable to developments in the blockchain industry, the Swiss Federal Council said. According to the federal authority, Switzerland does not need to amend its existing tax legislation in regard to blockchain and…
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A new class action alleges that Plaid, which Visa recently bought for over $5 billion, had unparalleled access to the financial information of millions of users. June 25, a new class action was filed in California against fintech startup Plaid, which was acquired by Visa for $5.3 billion earlier this year. The plaintiffs allege that…
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U.S. agencies sought millions of dollars in new funding to bolster national and international cryptocurrency investigations. The COVID-19 pandemic has crushed businesses, crippling life all across the world. It is costing darknet drug traffickers millions as well because their methods of moving drugs and funds have been compromised during the lockdown, according to a blog…
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