Commissioner Hester Peirce Agrees with Telegram CEO Pavel Durov’s Criticism of SEC

Commissioner Hester Peirce, affectionately knowns as ‘CryptoMom’, believes the SEC’s court victory over Telegram was inappropriately reached and has further stifled innovation for the United States. Securities and Exchange Commissioner (SEC) Hester Peirce spoke out against the SEC’s motivations and actions in prohibiting the Telegram Open Network from distributing Gram tokens anywhere in the world. In her speech at Blockchain Week Singapore on July 21, Crypto Mom Peirce discussed the role and responsibilities of the SEC, and her sentiments on the decision against TON appeared to echo those expressed by…

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Hackers Hack Telecom Argentina, Demand USD 7.5 Million In Monero

Telecom S.A., the largest telecommunications company in Argentina, has suffered a ransomware attack as hackers demand USD 7.5 million in privacy coin Monero (109,345 XMR) to be paid until the night of Tuesday, July 21. If the company does not meet the deadline, the payable amount will rise to USD 15 million (218,690 XMR). Per the local news outlet, the attack has not affected users or internet and telephone services provided by Telecom Argentina S.A. Still, the company has reportedly lost access to Office365 and OneDrive files. Other affected internal systems…

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More South Korean Banks May Look to Start Crypto Operations

More South Korean conventional finance firms are set to follow Nonghyup (NH Bank) into the cryptoasset industry, say experts, academics, and industry insiders – who think regulators may offer banks safe passage into the crypto sector. As reported earlier this week, NH has announced it will begin crypto custody services for industrial investors, and is currently working with Virtual Asset Service Providers (VASPs) on possible business opportunities. The bank also indicated it would look to offer securities token custody, as well as digital fiat custodial services – should the central Bank of Korea push ahead…

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Cardano and Coinbase Enter Custody Partnership

Cardano has entered a custody agreement with major crypto exchange Coinbase, stating that near the end of the year, holders will be able to store their ADA in Coinbase’s cold storage, as well as stake their funds. Charles Hoskinson, CEO of Cardano’s developer IOHK, has announced the news today, during the second day of the Cardano Virtual Summit: Shelley Addition. According to the agreement, ADA holders will gain the option to store their assets in Coinbase Custody’s cold storage, but without losing the ability to delegate their stake, the emailed press release said. The feature…

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BitPay Adds SegWit, BlockFi Doubles Revenue, 3 News From Cardano + More

This is our daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news. Crypto adoption news Major crypto payments company BitPay added support for SegWit in their wallet as an optional feature, and enhanced integration with Coinbase to enable users to directly manage their Coinbase wallets from inside the BitPay App. Later this year, support for SegWit, which lets save around 30% in miner fees, will be a default feature. (Learn more: Bitcoin Users Could’ve Saved Half a Billion USD in Fees – Report) Crypto lender BlockFi has said that since raising…

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US Supreme Court Rules Against SEC’s Ability to Fine Crypto and Blockchain Firms

The US Supreme court has limited the amount of punitive fines that the US Securities and Exchange Commission (SEC) can impose on cryptocurrency and blockchain firms, in a historic ruling yesterday. The Supreme Court introduced a new regulatory scope for the SEC—effectively limiting its authority to punish defendants with fines. The ruling may have come too late for many of the SEC recent crypto targets, who would have avoided punishment under the new limits. In a summary from the US Supreme Court case Liu v. SEC—as published by the National Law Review…

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‘Unstoppable’ Malware Uses Bitcoin To Retrieve Secret Messages – Report

Glupteba, a sneaky malware that can be controlled from afar includes a range of components to cover its tracks, and it updates itself using encrypted messages hidden in the Bitcoin blockchain, write cybersecurity experts from Sophos Labs. The Glupteba bot is a malware campaign that creates backdoors with full access to contaminated devices, which are added to its growing botnet. The analysis describes it as a “highly self-defending malware” with “enhancing features that enable the malware to evade detection.” The most interesting aspect of Glupteba is that it uses the Bitcoin blockchain as a communication…

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South Korea Developing Solution that Hunts Down Dark Web Crypto Deals

A South Korean government agency will develop software that will trace the movement of cryptocurrencies on the dark web. The move is a direct response to the Telegram Nth Room case, a rape and sexual exploitation video ring that has flummoxed police. Per New Daily, the new initiative is the brainchild of the Korea Internet and Security Agency (KISA), which says it has been working on a solution since January this year. However, KISA appears to have intensified its efforts in the wake of the Nth Room case. The case involves a group of young…

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Wirecard Ex-CEO in Custody, Blockchain-powered Baby Milk + More News

Crypto Briefs is your daily, bite-sized digest of cryptocurrency and blockchain-related news – investigating the stories flying under the radar of today’s crypto news. Legal news Ex-CEO of German payment processor and financial services provider Wirecard is in police custody over suspicion of fraud, Reuters reported earlier today. According to media reports, Markus Braun turned himself in yesterday and will come before a judge today to see whether or not he will remain in custody. Braun is being suspected of fraudulently inflating the company’s balance sheet and revenue to make it look more attractive…

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Fake Gov’t Officials Blackmail People to Put Money in ‘Bitcoin Machine’

The local police department in a Canadian town is sounding the alarm over a bitcoin (BTC)-related scam that sees criminals impersonate government officials and call unsuspecting residents to tell them to deposit money into a “bitcoin machine.” The scam, first reported by local news outlet The Sherwood Park News, has so far duped two victims into depositing a combined sum of CAD 21,000 (USD 15,500) into bitcoin kiosks by threatening to arrest the victims if they did not comply. According to the article, the scammer in the first instance said he was an…

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