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US Lawmakers Reintroduce Crypto Crime Bill to Combat ‘Terrorist Use’

The bill calls for the formation of an “Independent Financial Technology Task Force to Combat Terrorism and Illicit Financing.”

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In brief

  • A bipartisan group of House legislators is looking to combat crypto-financed criminal activity with the reintroduction of the Financial Technology Protection Act.
  • It was introduced by conservative Ted Budd, who represents North Carolina’s 13th congressional district.
  • The bill has passed the House twice before—this is its second reintroduction.

Rep. Ted Budd, who serves North Carolina’s 13th congressional district, has reintroduced his Financial Technology Protection Act, aimed at reducing crypto-financed criminal activity.

Two versions of the bill were introduced twice before, in February 2018 and January 2019. Both passed the House before languishing in the Senate.

The full text of the newest bill isn’t available just yet, but we do have the title, which is somewhat expository:

“To establish an Independent Financial Technology Task Force to Combat Terrorism and Illicit Financing, to provide rewards for information leading to convictions related to terrorist use of digital currencies, to establish a Fintech Leadership in Innovation and Financial Intelligence Program to encourage the development of tools and programs to combat terrorist and illicit use of digital currencies, and for other purposes.”

Reps. Stephen Lynch (D-MA), Byron Donalds (R-FL), Warren Davidson (R-OH), and Darren Soto (D-FL) have all co-sponsored the new legislation.

Though data from Chainalysis suggests that illicit transactions make up just over 1% of all crypto activity, crypto-financed crimes remain an issue: yesterday, Chainalysis released research linking a half-million dollar Bitcoin payment to members of the alt-right, some of whom were involved in the Trump-incited capitol riot earlier this month.

On the day of the riot, which resulted in the deaths of five people, Davidson wrote on Twitter that “it was encouraging to see (hundreds of thousands?) of people from all across America who came to have their voices heard.”

Budd’s office also released a statement about the bill’s reintroduction: “As we move into an increasingly digital and technology centered world, criminals and terrorists are using new technologies to wreak havoc on our fellow Americans. My bill will help put a stop to it.”

Budd, Lynch, Davidson, and Soto are all members of the Congressional Blockchain Caucus, and have been vocal about crypto-related legislation and regulatory action in the past. 

In December, Budd, Davidson, and Soto signed a letter to the SEC asking for more clarity around which businesses can hold crypto.

And while a pocket of vocal lawmakers continues to propose new laws centered around cryptocurrencies, most of the bills don’t make it very far. Davidson’s Token Taxonomy Act, which was first introduced in 2018 and then reintroduced in 2019, went nowhere, as did last year’s Virtual Currency Tax Fairness Act.

Blockchain

MicroStrategy Keeps Buying The Dip – Spends Another $10 Million On Bitcoin

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MicroStrategy continues relentless pursuit of Bitcoin with a new $10 million purchase

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Everyone is acquiring bitcoin. From everyday people buying fractions of a bitcoin in the hopes of making a value later on to companies like Tesla padding their wallets with billions worth of the famous asset, bitcoin is all the rage these days.

Given that bitcoin currently hovers around $45,000 after seeing a new all-time price high of over $65,000 a few weeks ago, for some, now may be a desirable time to jump on the train.

BTCUSD
BTCUSD Chart By TradingView

One company that definitely got the memo was MicroStrategy as it was confirmed on May 18, 2021, that the company has bought another $10 million worth of bitcoin.

Bitcoin Whale MicroStrategy Keeps Buying

This latest purchase was confirmed by Michael Saylor, the founder, and CEO of MicroStrategy on Twitter. According to his tweet, MicroStrategy purchased an additional 229 bitcoins with each costing an average of $43,663. With this acquisition, the firm’s total bitcoin stash now comes to about 92,079 with an acquisition value of $2.251 billion. Acquired at an average price of $24,450 per bitcoin, this represents one of the biggest caches of bitcoin held by a single entity.

From the language used in the tweets, it is implied that the company intends to HODL long-term as do many private crypto holders who believe that bitcoin will be worth hundreds of thousands at some point in time. Regardless, it is clear that the corporate world is getting its fill of bitcoin and investing a significant amount of money in it.

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It is safe to expect that other firms besides MicroStrategy will continue to pad their wallets with even more bitcoin and other cryptos, especially given that the market is not mooning at the moment.

At the same time, some analysts predict that the bitcoin price will reach $100,000 by the end of this year and some even predict $300,000 or 400,000 in a few years, and should this happen, it will be interesting to see at which price point firms like MicroStrategy will sell, if at all.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://zycrypto.com/microstrategy-keeps-buying-the-dip-spends-another-10-million-on-bitcoin/

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Marvel Icon Behind Batman, Green Lantern To Launch Exclusive Comic NFT Collection

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Marvel Icon Behind Batman, Green Lantern To Launch Exclusive Comic NFT Collection

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The art world and the world of blockchain are currently seeing a huge intersection thanks to the rise of non-fungible tokens or NFTs as they are commonly called. Top artists from around the world have been selling their work as NFTs with millions of dollars being raised and NFT platforms seeing more attention from the artist themselves.

One of the latest of these is from Neal Adams, a legendary comic book artist behind iconic characters like the modern Batman and the Green lantern. It was announced on May 18, 2021, that the comic book artist will be partnering with Vorto Gaming to release an exclusive comic book and NFT collection.  

Batman Immortalized as an NFT?

Some details about the new partnership have been announced such as Adams creating bespoke comic books around Hash Rush, which is the first title published by Vorto Gaming and will be released on its network. Part of this comic will involve new and existing Hash Rush characters and a new storyline from Adams.

Given that Adams has shaped storylines for a number of comics for DC Comics and Marvel, there is a lot of anticipation. He will receive help for this new project from Swedish-based ComicFirst Entertainment and their artist Mikael Bergkvist, who is also his mentee. 

Adams himself has touched on the importance of gaming and why he is excited about this upcoming project.

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“Gaming is without doubt the most innovative entertainment industry of the past decade and is shaping so many different aspects of our culture. We’re moving into a period in history where we are spending as much time exploring digital, imaginary worlds as we are living in this one. Comic books were always a transportation tool – taking us to another place, to experience another story, even just for a moment. Hash Rush is no different and I’m looking forward to sharing this story with the world.’ he said.

At this point, it seems that there is no limit to the type of content that can be created as an NFT. Artists from all sectors are beginning to explore their options with regards to both making money and providing valuable experiences for their fans. Hopefully, Adams’ participation in this project will lead to more prominent comic book artists embracing NFTs as well.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://zycrypto.com/marvel-icon-behind-batman-green-lantern-to-launch-exclusive-comic-nft-collection/

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PARSIQ And Autonio Partnership Brings Smart Triggers To NIOX Trading Suite

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PARSIQ And Autonio Partnership Brings Smart Triggers To NIOX Trading Suite

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PARSIQ has partnered with the Autonio Foundation to integrate its monitoring technology into Antonio’s NIOX trading suite.

As per the announcement, through this partnership, PARSIQ is planning to deploy its Smart Triggers technology into Autonio’s NIOX suites. The partnership will help Autonio monitor blockchain data for important events by integrating a few lines of code. Generally, this new integration will help save on the time and infrastructure required to create custom listeners. 

Ali Raheman, Autonio Foundation CEO and Founder.

“PARSIQ enables us to secure our governance and our DAO along with granting our users access to info about asset movements, which is a higher up priority for us, while we begin incorporating notifications and triggers into our trading solutions and tracking. Use for AI is longer term. PARSIQ has provided us with a toolset to make improvements in 3 major areas, trading, governance, and analytics data for AI.”

Tom Tirman, CEO of PARSIQ. 

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“Automated trading tools are a natural use case for PARSIQ’s Smart Triggers, and we are glad to be seeing teams like Autonio speed up their development efforts by choosing our solution. There is no reason why crypto app developers should constantly be reinventing the wheel. By letting us take care of the intricacies, they save on time, money, and headaches.”

Autonio Foundation is a decentralized autonomous organization built around developing accessible, easy-to-use training tools and services. By democratizing access to intelligent trading tools, the platform allows crypto traders to conduct deeper trading analysis, pool funds for their original strategy, and deploy complex algorithms.

Autonio’s trading suites are based on Artificial intelligence technology. The suites require a stream of reliable blockchain data, which can create trading alert systems or complex trading strategies 0based on specific triggers.

By integrating PARSIQ’s Smart Triggers, Autonio will easily monitor blockchain data for relevant events. The partnership will also allow Autonio to access the PARSIQ toolset. The toolset allows traders to conduct strategies based on on-chain triggers such as transactions coming to large wallets. Additionally, Autonio will also use PARSIQ monitoring technology to gauge NIOX AI-based effectiveness, strategies, and efficacy. 

Antonio will also be able to use PARSIQ tools for analytic purposes. The tool will allow the company to monitor withdraws and deposits transactions to the NIOX DAO, allowing them to understand their users. The analysis will be key in developing key metrics that will enable tracking growth.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://zycrypto.com/parsiq-and-autonio-partnership-brings-smart-triggers-to-niox-trading-suite/

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