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Tag Archives: Currency

Report: Cryptojacking Coincides with Crypto Popularity, Monero the Choice Currency

As cryptocurrency popularity boomed towards the end of 2017, other, more illicit, things came about as a result of the crypto boom. In 2018, one of the most prevalent and popular forms of malware attacks is cryptojacking, where malicious actors utilize the CPU power of unsuspecting computers to mine cryptocurrencies. Cryptojacking Becomes Increasingly Prevalent in 2018 According to a report by ...

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Maduro Mandates Venezuela’s Petro to Become Second National Currency

Facing hyperinflation as well as international sanctions that have brought Venezuela to its knees, controversial President Nicolás Maduro has mandated that his recently-developed Petro cryptocurrency become the nation’s second official currency. Maduro Adopts the Petro as Venezuela’s Second National Currency The news was announced by Maduro in a televised address today, and will officially be in place by August 20, when the “sovereign Bolivar” will ...

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Turkey’s Currency Instability Pushing People to Bitcoin

Remember when cryptos were deemed unusable because, unlike fiat, they were volatile? The tables are gradually turning and Turkey is the latest case. The country’s currency, the lira, has recently experienced a drastic drop in its value relative to the US dollar which has quickly drawn comparisons with Bitcoin. Faced with an economic crisis and a trade dispute with the ...

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We Receive 1,500 Virtual Currency Complaints a Month

The US Financial Crimes Enforcement Network (FinCEN) now receives over 1,500 Suspicious Activity Reports, which concern cryptocurrencies like Bitcoin, every month. The statistics were presented by the FinCEN Director, Kenneth Blanco, during his speech regarding the US agency’s views on decentralized digital assets and virtual currencies. The US Treasury, at the 2018 Chicago-Kent Block (Legal) Tech Conference, stated that FinCEN now receives regular ...

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Bitcoin Price Watch: Currency Stuck in a “Financial Trance”

At press time, everyone’s favorite cryptocurrency and the world’s largest digital coin by market cap is trading for just under $6,400. While this is slightly higher than where it stood yesterday, bitcoin is still within the same range, and stubbornly refusing to move. While we can be grateful the currency hasn’t fallen any further, it’s annoying to see the lack ...

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Bitcoin Only ‘Masquerades’ as a Currency: BIS Research Chief

Hyun Song Shin, Economic Adviser and Head of Research of the Switzerland-based Bank for International Settlements (BIS), told Bloomberg that bitcoin and other cryptocurrencies “fall a long way short of being able to sustain a monetary system” and really only “masquerade” as real currencies. Speaking in the latest episode of the Bloomberg Benchmark podcast, Shin argued that money, in the form ...

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