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You are here: Home / Archives for digital currencies

digital currencies

Illegal Crypto Mining in Russia Costed Taxpayers $6.6M in Over 3 Years

June 9, 2020 by Arnold Kirimi

Illegal crypto mining operations in the Russian Federation have stolen electricity worth nearly $6.6 million in the last three years. According to state-owned power distributor,  Rossetti, illegal mining farms, compromised power meters and underground mining farms helped illicit cryptocurrency miners to illegally consume 450 million Russian rubles ($6.6 million) worth of electric power from the […]

Filed Under: News Tagged With: Bitcoin Mining, black mining sites, crypto jacking post office head, Crypto Mining, digital currencies, electricity, illegal cryptocurrency, Russia

South Korean Officials Proposes Taxing Cryptocurrency Profits

June 3, 2020 by Arnold Kirimi

South Koreans may soon see their cryptocurrency proceeds slashed by the tax man.Earlier this week, South Korean officials in the Ministry of Strategy and Finance proposed taxing profits made through crypto-fiat transactions, including tokens sold by mining firms through ICO offerings.  The regulator anticipates to submit the complete proposal in July and hand in the […]

Filed Under: Industry Tagged With: bitcoin income, Crypto Regulations, Crypto Transactions, cryptocurrency profits, cryptocurrency taxation, DeFi, digital currencies, mining firms, south korea

Crypto-Jacking Post Office Head Indicted in Russia

June 1, 2020 by Arnold Kirimi

The Russian police have arrested a crypto-jacking post office head, who used computers in his post office branch to mine digital currencies. According to local reports, the now-former regional post office head used to illegally mine cryptocurrencies while on the job. The local police started investigations on the former post office chief who managed to […]

Filed Under: Industry Tagged With: Bitcoin (BTC), Bitcoin Mining, crypto jacking post office head, Cryptojacking, digital currencies, mining crypto, Russia

Digital Mortgage Platform Under Development by Bank of Russia

May 29, 2020 by Arnold Kirimi

The Bank of Russia is reportedly creating a digital mortgage network based on a locally built blockchain platform dubbed Masterchain, as per state-owned media outlet Ria on May 28. According to the first Deputy Governor of the Bank, the blockchain platform has recently begun to support mortgages, which is the cornerstone of the impending platform. […]

Filed Under: Blockchain, News Tagged With: Blockchain, blockchain adoption, Blockchain platform, Central Bank of Russia, digital currencies, Digital Mortgage Platform, masterchain, Russia

East Asia Stablecoin Suggested by Top Chinese Political Advisors

May 23, 2020 by Arnold Kirimi

On May 21, Chinese officials proposed stablecoin in East Asia during a national session. The regional stablecoin will be backed by four major fiat currencies and facilitate trade between China , Korea and Japan. A member of the Chinese People’s Political Consultative Conference Shen Nanpeng, who is also a global managing partner at Sequoia Capital, […]

Filed Under: Industry Tagged With: China, cross border transaction, digital currencies, Hong kong, Japan, South East Asian Economies, south korea, stablecoin

Dubai’s DIFC, Mashreq Bank launches KYC Blockchain Platform as Blockchain Continues to Develop in the Middle East

March 2, 2020 by Utkarsh Gupta

Over the last decade, Blockchain technology has become a major part of the Fintech industry, and the modern banking system is now on the verge of incorporating its innovations into its accounting systems. Approximately 40 central banks in the financial ecosystem have already taken steps to establish a blockchain platform for their operations, some of […]

Filed Under: Industry, Altcoin News, News Tagged With: Blockchain, central bank, digital currencies

Blockchain Crime Syndicates – Is Crypto a Den of Thieves?

February 9, 2020 by Richard M Adrian

Cryptocurrencies have provided significant benefits to individuals and organizations alike. Innovators are finding even better ways to implement these new inventions. A study by Statistica estimates that there were at least 42 million blockchain wallets by September 2019. However, behind the underlying benefits of digital currencies and the blockchain, is a sinister threat of terrorists […]

Filed Under: Industry, News, Opinion Tagged With: bitcoin transactions, Blockchain Crime, blockchain transactions, Cryptocurrencies, digital currencies, illegal cryptocurrency, pornography

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