Philippine ‘Crypto Valley of Asia’ to Get Own Airport

The Philippines has a “Crypto Valley of Asia,” an initiative of the Cagayan Economic Zone Authority, the government agency responsible for managing the Cagayan Special Economic Zone and Freeport. An airport is now being planned for inside this economic zone to address the needs of its investors and crypto service providers. Many cryptocurrency exchanges have been licensed to operate within the zone. Also read: Regs Roundup: SEC Actions, Crypto Tax-Free in Korea, New Chinese Laws Airport Planned for Crypto Valley of Asia The Philippines’ Cagayan Economic Zone Authority (CEZA) has…

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China Prepares for CBDC With Cryptography Law on Encryption Standards

On Jan. 1, China’s law governing cryptographic password management came into power. What does it mean? On Jan. 1, China’s law governing cryptographic password management came into power. Essentially, the act aims to set standards for the application of cryptography and the management of passwords, and, therefore, ultimately reduces China’s cyber vulnerabilities on a nationwide scale.  Some local media outlets rumor that the law is paving the way for the long-awaited release of China’s central bank digital currency, although it does not make any explicit references in that regard. Meanwhile,…

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How Dropgangs and Dead Drops Are Transforming Darknet Practices

Since the creation of the Silk Road, authorities have waged a war against the online drug trade with a wave of surveillance and enforcement. However, crypto-anarchists are developing new ways to evade the state’s tentacles as the next technological phase started to emerge in late 2017. On Monday, the Cypherpunk Bitstream podcast discussed the evolution of darknet markets as new ideas like dropgangs and dead drops proliferate into the next decade. Also read: Why the Counter Economy Is Necessary to Bitcoin’s Survival as a Disruptive Currency The Importance of Evolving…

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US SEC Traces $3.5M Back To Alleged Fraudster Behind Fake Crypto Mine

The U.S. SEC charges Donald Blakstad for using a fake crypto mining business and two other companies to fraudulently gain $3.5 million. Recent charges from the U.S. Securities and Exchange Commission (SEC) tied three parties to $3.5 million in fraudulent activities.  The SEC has pressed charges of fraud against Donald Blakstad, crypto mining outfit Energy Sources International Corporation (ESI) and vehicle part company Xact Holdings Corporation, according to a Jan. 8 document from the commission.  The document described ESI as “a purported cryptocurrency mining operation.” Millions swindled Blakstad allegedly gathered…

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Crypto Derivatives Exchange Leaves EU for Panama, Expands KYC

Crypto exchange Deribit leaves the Netherlands for Panama to avoid demanding EU regulations that the Dutch nation might adopt. Crypto derivatives exchange Deribit is leaving the European Union for Panama to avoid new AML rules while changing its Know Your Customer (KYC) requirements.  Deribit B.V., the current Netherlands-based company responsible for the Deribit.com exchange, will officially delegate the trading platform to its daughter company, DRB Panama Inc. on Feb. 10, 2020, a Jan. 9 statement from Deribit said.  Changing regulatory winds  Deribit has decided to transfer to Panama based on…

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Telecom Giant Telefonica Pilots Blockchain Access on 8,000 Spanish Firms

Telecom giant Telefonica partners with the local Association of Science and Technology Parks to grant to about 8,000 firms in Spain access to its blockchain. Spanish telecommunications giant Telefonica has reportedly partnered with the local Association of Science and Technology Parks (APTE) to grant access to its blockchain to about 8,000 firms in Spain. According to a report published by telecom news outlet TotalTele on Jan. 9, Telefonica will deploy nodes of its Hyperledger-based blockchain at APTE’s 52 sites. During the three-month-long testing period, firms will be encouraged to develop…

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KPMG Leader Predicts IoT and Blockchain Will Be Used To Manage Climate Change

KPMG lead predicts blockchain and IoT will enable effective climate management in 2020, a topic to be discussed during Davos. Accounting giant KPMG’s US blockchain lead, Arun Ghosh, predicts that blockchain, combined with the Internet of Things (IoT) will be used to manage climate change in 2020.  IoT is a term for systems of interrelated devices that are embedded with sensors, software and network connectivity that enables them to collect and exchange data. According to a list of 6 blockchain predictions KPMG shared with Cointelegraph, Ghosh noted: “The convergence of…

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Ethereum, Tron and EOS Control 98% of All Dapp Volume

2019 was a good year for dapps and a particularly good one for Tron and Ethereum. That’s the upshot of Dapp Review’s new report into crypto-powered decentralized applications. The sprawling research document inspects the major dapp networks in forensic detail and provides key takeaways. The headline-grabber is the revelation that Tron, EOS, and Ethereum accrued $23 billion in dapp volume last year, with Tron leapfrogging EOS along the way to establish itself as the de facto dapp network for recreational use. Also read: Researcher’s Scathing Lightning Network Analysis Finds Flaws…

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Oman’s Largest Port Joins IBM’s Blockchain Shipping Platform TradeLens

Oman’s largest port joins IBM and Maersk blockchain-based TradeLens platform to enhance customer experience and improve trade flows. On Jan. 8 the Times of Oman reported that the Port of Salalah joined TradeLens, the blockchain-based supply chain platform launched in 2018 by shipping giant Maersk and IBM.  An IBM spokesperson told Cointelegraph the addition of the Port of Salalah puts TradeLens at more than 90 ports and terminals, with over 150 participants in total on the platform.  According to the Times, The Port of Salalah is Oman’s largest port, handling…

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Why Proof of Reserves Is Important to Bitcoin

Bitcoin is a movement founded on individual monetary sovereignty, transparency and peer-to-peer auditability enabled by a breakthrough in technology. It launched at a time when trust in the world’s financial institutions was at an all-time low and struck a chord. Bitcoin’s success has led to profits, which has, in turn, led to complacency. Today, people are once again placing their trust in new crypto institutions, some of which have done very little to earn that privilege. Over $4.4 billion was lost as a result of crypto exit scams and thefts…

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