Keep you updated with latest news in blockchain industry and cryptocurrencies.
Key takeaways: The US IRS updated its tax requirements at the end of 2020. US citizens must disclose their crypto activities in Form 1040. Taxes must be filed no later than April 15, 2021. The US Internal Revenue Service (IRS) published1 new guidelines on how to file taxes on crypto »
Key takeaways: Bitcoin and cryptocurrency prices have increased lately and remain bullish. Institutional players are moving to the crypto sphere recently. Several reasons from regulation to industry can explain this trend. In the past months, Bitcoin and Ether prices significantly increased: Bitcoin reached its all-time high value at $61,683.86 on »
Key takeaways Lately, ETH price rocketed and reached its all-time high on Feb 10, 2021 The bull run is due to several reasons such as an increased interest in the cryptocurrency This price increase also attracts scammers and hackers Ether (ETH), Ethereum’s cryptocurrency has been one of the main focuses »
Unable to recover from the attack of last December, Livecoin announced its closure earlier this month and will accept refund claims in the next 2 months. Key takeaways: In late Dec, the attacker controlled Livecoin servers to increase the platform’s exchange rates and cashed out the funds. Livecoin announced its »
The year 2020 will come to an end in a couple of days in which Scorechain has been recognized as a la leader in the cryptocurrency Risk-AML analytics software. Despite the sanitary crisis, 2020 has been a crypto regulation year since most worldwide governments have started to define the regulatory »
End of last month, $4.2B cryptos have been confiscated by Chinese authorities from the PlusToken Ponzi scheme crackdown, including a total of 194,775 BTC, 833,083 ETH, 1.4 million LTC, 27.6 million EOS, 74,167 DASH, 487 million XRP, 6 billion DOGE, 79,581 BCH, and 213,724 USDT [1]. Starting in May 2018, »
Early Monday, the decentralized finance (DeFi) protocol Harvest Finance was exploited by an unknown attacker, who drained about $25 million in value and swapped for renBTC (rBTC). This incident has risen again and even heated the debate on whether this kind of flash loan-based arbitrage attacks are really “hacks”. Technically, the »
Last Friday the Singapore based crypto-exchange, Kucoin, was hacked with an estimated loss of around $150 million, including BTC along with BSV, LTC, XLM, Omni and EOS based tether (USDT), ether and ERC20 tokens, and XRP. During the early morning of last Sunday, the hacker started to launder a part »
As the new dominant value transfer layer, Ethereum network is becoming more and more popular, so are the ERC20 tokens, especially stablecoins. Recently, Tether alone is the most traded coin in the crypto world. With the wide use of ERC20 tokens and the development of global AML/CTF regulations that put »
This article was published on the Cointelegraph website on July 22, 2020. Read the original article here: https://cointelegraph.com/news/can-compliance-and-aml-software-improve-cryptocurrency-business-sustainability Cryptocurrency businesses are facing increasing challenges as new regulations are introduced globally, which is changing the face of the industry and forcing companies to search for effective solutions. Anti-Money Laundering and Combatting the »
