New “Know-Your-Transaction” Tool Enables Enhanced Blockchain Investigation

Cryptocurrency investigation enterprise Chainalysis is releasing a product called Know Your Transaction (KYT) designed to help businesses track customers that may be involved in illicit cryptocurrency-related activity. The company’s clientele includes the Federal Bureau of Investigation (FBI), the Drug Enforcement Administration (DEA) and Europol. Per a recent blog post, Chainalysis stated that it holds a lot of faith in both ...

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Nano Team Target of Cryptocurrency Class Action Lawsuit

A class action lawsuit has been filed against Nano and key members of its core team for allegedly violating federal securities law. In February 2018, the Italian cryptocurrency exchange BitGrail lost $170 million worth of the Nano currency “XRB” due to a “hack” which has now led to a class action lawsuit represented by the Silver Miller law firm. The ...

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Op Ed: Tulip Myths and Modern Cryptocurrency Skepticism

“Ever heard of tulips?” It’s a question anyone who is publically involved in the cryptocurrency space has been asked multiple times. With the enormous gains in value the industry has seen, many observers come to the same conclusion. It’s a bubble. The take is not a terrible one and many experienced cryptocurrency traders agree with the sentiment. Bubbles have come ...

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Bitcoin Magazine’s Week in Review: Lightning and Sparks Fly

Lightning continues to strike as more and more companies announce that they are including in their products the new Lightning Network protocol that recently entered beta. Sparks also flared up at the Deconomy conference in South Korea when Vitalik Buterin and Joseph Poon challenged Craig S. Wright’s legitimacy. And, while India joins a growing list of countries that has announced ...

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Monero Just Hard Forked — and It Resulted in Four New Projects

One hard fork later, there are four new Monero projects. Monero hard forked to version 12 of its protocol yesterday. But not everyone is on board. Following the example once set by Ethereum Classic, some users are continuing on the pre-hard fork Monero blockchain… though in this case not as a single project. Now there is  Monero Classic, Monero 0 ...

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Coinbase Takes Steps Toward Becoming an Alternative Trading System

Cryptocurrency trading firm Coinbase has entered into talks with the U.S. Securities and Exchange Commission about registering as a licensed broker-dealer firm and electronic trading venue, The Wall Street Journal reported on Friday, April 6, 2018. The move comes just as U.S. regulators have begun clarifying their stance on virtual currencies. Testifying before the Senate on February 6, 2018, SEC ...

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First Lightning Network Wallet App Now Available via Google Play

The Lightning Network’s first mobile app for Bitcoin’s mainnet is now available through Google Play. Known as the Eclair Wallet, the app was released on April 4, 2018, via French technology startup ACINQ, and is being offered specifically to Android users. Devices employing software version 5.0 or higher can send Lightning payments, which require significantly lower fees than the standard ...

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South Africans Instructed to Pay Tax on Bitcoin and Cryptocurrency Earnings

South Africa has joined a growing list of countries that expect citizens to pay income tax on their cryptocurrency earnings. The South African Revenue Service (SARS) released a statement today, April 6, 2018, making it clear that, even though the country does not consider cryptocurrencies legal tender, you still have to pay taxes on the gains. That means that anyone ...

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SEC Freezes $27 Million in Stock Trades From Blockchain Company Longfin

On April 6, 2018, the United States Securities and Exchange Commission obtained a court order to freeze $27 million in stock trades from Longfin Corp., a publicly traded blockchain technology company. According to the SEC’s official statement, the company’s CEO and three other affiliates are under investigation for the illegal distribution and sale of restricted Longfin Corp. shares. Founded in ...

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