Connect with us

Blockchain

Terrorist Networks Conduct Crypto Transactions in Southeast Asia

It creates the impression that some fear-based oppressor bunches have come back to cryptographic forms of money as a methods for financing amidst the pandemic.  The Philippine Institute for Peace, Violence and Terrorism Research (PIPVTR) announced that Islamic State (IS)- connected terrorist groups had led their first exchanges in cryptographic forms of money. As indicated by the report, a psychological […]

The post Terrorist Networks Conduct Crypto Transactions in Southeast Asia appeared first on Coin News Asia.

Published

on

Bitcoin Terrorism

It creates the impression that some fear-based oppressor bunches have come back to cryptographic forms of money as a methods for financing amidst the pandemic. 

The Philippine Institute for Peace, Violence and Terrorism Research (PIPVTR) announced that Islamic State (IS)- connected terrorist groups had led their first exchanges in cryptographic forms of money. As indicated by the report, a psychological militant connected illegal tax avoidance activity including digital currencies created reserves, which were then supposedly used to back the exercises of fear systems working in the contention ridden Mindanao locale in the southern Philippines. 

While the reception of cryptographic money isn’t uncommon among IS supporters, this case flags a revitalized push to expand financing strategies for psychological oppression in Southeast Asia. In that capacity, this article investigates the penchant for Southeast Asian activists to receive digital money for raising support, finance moving, and subsidize utilizing for fear mongering purposes. 

IS has checked out digital money for quite a long while. A prominent case from 2015 saw a 17-year-old from the US imprisoned for offering IS supporters online guidance for how to utilize Bitcoin to shroud their budgetary gifts; in a scandalous blog entitled “Bitcoin and the Charity of Jihad.” 

An early defender of digital currency for fear mongering financing in Southeast Asia was Bahrun Naim, an Indonesian IS contender who was situated in Syria. Prior to his demise, he distributed an online manual in 2016 and recorded Bitcoin as one of the techniques to wash the returns from false Mastercard exchanges. 

During this time, the Financial Intelligence Unit of Indonesia revealed that Naim had moved cash to his partners through PayPal, with the assets beginning from Bitcoin possessions. These assets were in the end used to support a terrorist assault on the Solo Police Headquarters in July 2016. 

Aggressors in the locale will probably keep on exploring different avenues regarding digital money to subsidize their exercises. They could, for instance, request gifts or require an initial coin offering (ICO) and get accidental speculators to put resources into the cryptographic money; or lead a crypto-recover capture – a strategy utilized by lawbreakers somewhere else, despite the fact that not yet utilized by Southeast Asian aggressors. 

Moreover, the activists could investigate utilizing cryptographic money to obtain coordinations, particularly with more vendors tolerating installment in digital money online with access to globally flexible chains. The two parts include finance moving, which the specialists can’t follow until it arrives at the recipient’s financial balance. 

It might take a very long time before Southeast Asian nations coordinate the new FATF rules on digital money into their laws. Regardless, aggressors are skilled at bypassing such laws. To keep away from recognition, they can keep on trying different things with digital money for financing of fear mongering including limited quantities. This is as opposed to illegal tax avoidance, which regularly includes significant sums.

Get the latest in Asian Bitcoin news here at Coin News Asia.

Source: http://www.coinnewsasia.com/terrorist-networks-conduct-crypto-transactions-in-southeast-asia/

Blockchain

Indian government cautious about crypto-adoption, CBDC is a possibility

Published

on

Indian traders and exchanges might be bullish about the crypto market, but the Indian  government doesn’t seem keen on rushing into the scene. At least, not until studying its homegrown fintech industry and the anti-Bitcoin protests in El Salvador.

Tracking global news

Indian finance minister Nirmala Sitharaman in a recent interview with Hindustan Times explained why the country seemed to be falling behind when it came to crypto adoption.

Though she admitted, El Salvador wasn’t “the best example,” Sitharaman said,

“You’d think common people don’t care about digital currency; but the public took to the streets against the move. It’s not a question of literacy or understanding – it’s also a question of to what extent this is a transparent currency; is it going to be a currency available for everyone?”

Sitharaman referred to CBDCs as a “legitimate” cryptocurrency and admitted there could be a “possibility,” in hat regard. She noted that India held the “strength of the technology” and acknowledged the need to formulate a Cabinet note. However, Sitharaman wondered if India was ready to follow El Salvador’s way.

Facts on the ground

Though accessibility is a pressing concern, more Indians have discovered crypto than perhaps expected.

Nischal Shetty, CEO of the Indian crypto exchange WazirX – a subsidiary of Binance Holdings – has stated that WazirX sign-ups from India’s tier-two and tier-three cities overtook those from tier-one cities this year. Even so, sign-ups from tier-one cities themselves saw a 2,375% rise. Furthermore, WazirX added one million users in April 2021 alone.

Adding to this, the cost of electricity and Internet data in India are relatively cheaper, which could boost both crypto trading and mining in the future. However, at the last count, there was only one Bitcoin ATM in the whole country.

As per data by Useful Tulips, which combined data from Paxful and LocalBitcoins, India saw transfers worth around $4,502,369 in the last two weeks.

Could anti-Bitcoin protests happen in India?

There is evidence to support both sides. India has a strong history of mass protests, with the farmers’ protests against the government’s agricultural laws being one such example. The 2016 demonetization of part of the country’s paper currency still haunts many, and Internet penetration is yet to cross 50%.

However, India also has the largest diaspora in the world, with approximately 18 million people living outside the country. Crypto innovation could lead to hundreds of millions of dollars being saved on remittance charges as money is sent across borders.

But for the time being, it seems India’s urban residents are more bullish about crypto than its government.

Where to Invest?

Subscribe to our newsletter

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.

Click here to access.

Source: https://ambcrypto.com/indian-government-cautious-about-crypto-adoption-cbdc-is-a-possibility

Continue Reading

Blockchain

A Deep Dive Into The Bitcoin Wallets Of U.S Congress Members, And Why Bitcoiners Are Strongly Against Them

Published

on

A Deep Dive Into The Bitcoin Wallets Of U.S Congress Members, And Why Bitcoiners Are Strongly Against Them

Advertisement &  & 

Key takeaways

  • U.S. Congress’ split disposition towards cryptocurrencies raises concerns among market participants.
  • Bitcoin proponent, James Loop goes digging into the financial disclosures of Congress members.
  • His findings revealed only three Congress members have ever disclosed that they hold Bitcoin.

The United States is a key base for innovation and adoption in the cryptocurrency industry. According to data from Crunchbase, there are at least 1,135 organizations founded in the U.S. that provide various cryptocurrency-related services.

Despite the broad adoption of the asset class by the country’s citizens, the government is still divided on opinions about the growing cryptocurrency industry. This can be seen in the U.S. Congress where members of Congress are split between those who support and those who do not support Bitcoin, the most prominent cryptocurrency.

This polarised disposition of Congress has been a pain point for Bitcoiners. Bitcoin market participants have pointed out several issues that emanate from the fact that there are still members of Congress who have not shown themselves to fully understand Bitcoin.

The sentiment is that Congress members who do not fully understand the asset, having not used it, should not be responsible for making laws about it. Additionally, market participants also think it will be a conflict of interest if members of Congress who oppose Bitcoin are found to be holding Bitcoin or if those who support it do not own any. 

Advertisement &  & 

Jameson Lopp, the co-founder, and chief technology officer of Casa – a leading provider of Bitcoin self custody solutions, has gone digging into the United States Senate Financial Disclosures portal. The investigation was carried out to identify Congress members who have declared holdings of cryptocurrencies, and Bitcoin in particular, in their portfolios. 

His findings paint a dismal picture as the majority of the members of Congress who have been vocal in supporting Bitcoin have not held the asset at all according to their financial disclosures for the year ending 2020.

According to his findings, only 3 Congress members have disclosed that they own Bitcoin. The now-retired Representative Bob Goodlatte of Virginia was the first Congressman to disclose the ownership of Bitcoin, doing so in 2017 even before laws were passed to make disclosure mandatory. According to his disclosure, he owned between $1,000 and $15,000 of Bitcoin at the time.

Among currently seated Congress members, only Senators Cynthia Lummis and Pat Toomey have reported Bitcoin holdings in their portfolios in 2020. Senator  Lummis reported owning $100,000 – $250,000 of bitcoin in 2020 making up between 0.6% and 2.75% of her net worth. Similarly, Senator Pat Toomey reported purchasing $1,001 – $15,000 of GBTC in June 2021. The GBTC investment is between 0.01% and 0.7% of his net worth.

The sleuth however concedes that he did not have the time and resources to go through the financial disclosures of all 535 congressional members. Nonetheless, it is telling that of the ones he checked, even members of caucuses in Congress that are affiliated to cryptocurrency and members that have drafted bills that will provide clarity for the industry do not hold Bitcoin or other cryptocurrencies as their financial disclosures show.

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.

Click here to access.

Source: https://zycrypto.com/a-deep-dive-into-the-bitcoin-wallets-of-u-s-congress-members-and-why-bitcoiners-are-strongly-against-them/

Continue Reading

Blockchain

China Again? — Why The Crypto Market Lost Over $300 Billion In Hours And What To Expect

Published

on

China Reemphasizes It's Not Yet Done With Clamping Down On Bitcoin

Advertisement &  & 

Key takeaways:

  • Crypto-market records over s$1 billion worth of Crypto liquidations in hours. 
  • Liquidated long positions significantly surpass shorts.
  • Fundamental factors pose serious threat to the market, but the road to recovery is near.

The crypto market has been hit with yet another massive liquidation. Within the last 24hrs, a whopping $1.03 billion worth of long and short positions have been liquidated, as reported by the aggregate derivative exchange platform ByBt.

When traders are long on a particular asset, they are simply gaining exposure to the cryptocurrency in question, in hopes that prices will surge significantly at a later time. It appears that a lot of investors were bullish on crypto for the most part, as long positions were significantly higher than shorts. Precisely $946.10 million worth of crypto was liquidated, while $6.56 million short positions were liquidated.

Liquidations usually take place in the crypto market when a trader’s leveraged position is forcefully sealed by an exchange when the trader’s initial margin is partially or totally lost. Futures and margin trading is usually where liquidation is common.

Many market pundits have warned against over-leverage, which they point to as the case of repeated liquidation. However, despite cryptocurrencies being high-risk due to the intense volatility, leveraging provides an opportunity for investors to generate significant profit. For this reason, liquidations are imminent.

Advertisement &  & 

On a larger spectrum, the question at hand is how the market will be affected going forward. Although no one can accurately predict, recent events hint that the dip could go even deeper, no thanks to fundamental factors like the ongoing Evergrande crisis.

“The Hong Kong stock market plummeted, triggering a decline in global markets and cryptocurrencies. The main reason is Evergrande, China’s largest real estate company with nearly 2 trillion debts.” wrote Chinese journalist Colin Wu.

Thus far, leading assets like Bitcoin, Ether, Solana, Cardano, and many others have dropped in price value and are, at this time, still going downwards. Bitcoin has plummeted to $42,928. While losing more than 7% in value today. Ether, XRP, SOL, DOGE, and Cardano are likewise seeing an extensive decline.

In response to the dip, analysts have responded to their previous sentiments on Bitcoin especially, saying that the expected floor price for this month remains at $42,000 and that a bounce will follow a while later. Altcoin analysts are also keeping their fingers crossed to see how the next 24hrs play out before predicting the market’s trajectory.

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.

Click here to access.

Source: https://zycrypto.com/china-again-why-the-crypto-market-lost-over-300-billion-in-hours-and-what-to-expect/

Continue Reading
Blockchain3 days ago

Over 40 days after Ethereum’s EIP-1559, here’s where it stands

News5 days ago

Gods Unchained and Guild of Guardians Layer 2 Solution Immutable Raises $60 Million

Blockchain4 days ago

Cardano Sees an Influx in Smart Contracts ! But There’s a Twist

Blockchain5 days ago

If Shiba Inu is a ‘shitcoin,’ why are exchanges still listing it

Uncategorized3 days ago

NBA 2K22 Limitless Spot-Up and Chef Badges Explained

Blockchain5 days ago

Ethereum, NEO, Dogecoin Price Analysis: 16 September

Uncategorized5 days ago

Laos Green-Lights Cryptocurrency Trials

Blockchain3 days ago

After Targeting BlockFi, State Regulators Now Set Their Eyes On Celsius

Uncategorized5 days ago

DeFi comes to Cardano (ADA) as EMURGO announces ‘Astarter’

Uncategorized3 days ago

Best Dribble Pull-Up in NBA 2K22: Which to Use

Uncategorized3 days ago

What is The Old Gym in NBA 2K22 Next Gen?

Blockchain5 days ago

Bitdefender Releases Tool To Decrypt Files Affected by REvil/Sodinokibi Ransomware

Uncategorized3 days ago

NFTs Are the Building Blocks of the Metaverse — Here’s How It’s Being Built

Uncategorized3 days ago

Shiba Inu (SHIB) Rises to Range High

Blockchain3 days ago

EY Taps Polygon Network to Improve Enterprise Clients’ Experience 

Blockchain2 days ago

Flux Pools autoriza o pagamento de ativos paralelos em mais de 300K Flux!

Uncategorized5 days ago

Tether Claims to Hold no Commercial Paper From Struggling Evergrande

Blockchain3 days ago

Matic Price to hit $1.75 in the next leg up! Launch on Bitfinex to be the Catalyst?

Uncategorized4 days ago

The Head of Diem wants you to trust Facebook, but is he fighting a losing battle?

News3 days ago

XRP Lawsuit: Here’s Why Experts Think Ripple Could Win the Case Against SEC

Trending