13 June

“In separate announcements, the Algorand and Tezos Foundations said they had linked up with two analytics companies, Chainalysis and Coinfirm, respectively, to help bake regulatory compliance into their eponymous blockchains.

In Algorand’s case, Chainalysis will provide a know-your-transaction (KYT) solution, allowing its foundation to monitor large volumes of on-chain activity for the native ALGO token and report any suspicious transactions to the authorities.

Tezos’ tie-up with Coinfirm’s is broader, allowing its foundation and commercial entities such as exchanges to monitor activity on the protocol. Soon after the Travel Rule guidance was announced, Coinfirm inked a deal with Ripple to tag transactions on the XRP ledger that may have been laundered through mixer services.”

Three months after the Supreme Court ruling to lift the banking ban, India’s Ministry of Finance has proposed to ban cryptocurrencies by law.

While much enthusiasm was seen in the crypto space in the past three months as new startups sprouted to push crypto adoption across the nation, this proposal could be a hard blow to all businesses and individuals involved in the space.

The proposal will first be sent to the Union Council of Ministers and then be forwarded to the parliament for final review.”

“The Ethereum Layer-2 scaling ecosystem has become tricky to navigate for builders as an increasing number of scaling solutions have seen the light of day.

We’ve put together a list of questions to help builders evaluate different scaling solutions and adopt the one most suited to their needs. Alongside these questions, we’ve put together a comparison table.

“Wilshire Phoenix, an asset manager which tried to launch a bitcoin exchange-traded fund (ETF) last year, has filed to launch a new Bitcoin Commodity Trust.

The trust may be looking to compete with Grayscale Investments’ $3.6 billion bitcoin trust. Fidelity Digital Asset Services will serve as the trust’s bitcoin custodian, while UMB Bank will serve as the cash custodian.

The Shares will provide investors with exposure to bitcoin in a manner that is accessible and cost-efficient without the uncertain and often complex requirements relating to acquiring or holding bitcoin.”

Everyone seemed to agree that they could improve financial inclusion by giving people more direct access to FedAccounts, which may operate using a digital dollar. What exactly a digital dollar looks like will probably be more controversial.

Davidson was especially concerned that what everyone is talking about when it comes to a “digital dollar” did not include some of the key advantages of the existing dollar, including privacy and autonomy:That’s the strength of cash, you have to have that characteristic that you’re not really filtering transactions.’

I think there’s still a long way to go until [there is] a shared vision of what this would look like.”

See Also: Digital Dollar Competing with more Prosaic but Proven 20th-Century Methods
See Also: Blockchain Firm Pitches CBDC Operating System to Bank of England
See Also: National Science Foundation Funds Research Into Crypto Dollars

“Protesters in Lebanon have set fire to the central bank in Tripoli in a show of anger with the country’s deepening economic crises and stagnant political orthodoxy.

The Lebanese pound (LBP) is trading for more than 5,000 per $1 in spite of the country’s official peg of 1,507 per dollar— a 20% depreciation since April, and over 230% since the peg was respected in January.

An increasing number of protestors are embracing Bitcoin (BTC) as a means of bypassing Lebanon’s failing monetary system.

“A new paper examining transactions on EOS, Tezos and XRP Ledger (XRPL) over a seven-month period ending in April found the overwhelming number of transactions on these three networks either have no value attached or are passing it back and forth within one entity.

96% of the transactions on EOSIO were triggered by the airdrop of a currently valueless token; on Tezos, 76% of throughput was used for maintaining consensus; and over 94% of transactions on XRPL carried no economic value.

In short, the authors write, ‘The massive potential of those blockchains has thus far not been fully realized for their intended purposes.‘”

“The publisher built a prototype to provide reliable metadata on various pictures found online. Often, pictures taken in a different location at a different time will be used in connection with unrelated events. Through the platform, readers and social media users will be able to know who took the picture and when.

The new prototype follows similar efforts by Italian news agency Ansa, which uses blockchain to “certify” its news stories.”

“Craig Wright’s legal team appears to alleged that he controls one of the Bitcoin addresses affiliated with an old Mt. Gox hack.

Just so we’re clear, Craig Wright has just openly admitted (via his lawyers) to be the guy that stole 80k BTC from Mtgox.”

“In the last few days, three Ethereum transactions have paid $5.7 million in fees. A new report explains that it might be a blackmail attempt on an exchange.

In short, the researchers claim that the hackers have gained access to an exchange’s funds. They are able to send money to certain whitelisted accounts that are marked as reliable in the exchange’s database to—but not to their own. So, they are sending the funds with excessively high transaction fees to sap the exchange’s accounts, and they’re demanding a ransom if it’s going to stop.

See Also: 500 Estonian Crypto Companies Lose Permits After $220B Scandal
See Also: Microsoft Azure Machine Learning Clusters Cryptojacked to Mine Monero