Tag Archives: bitcoin

Another Hitch in the Crypto Boom? North Korean Malware Hijacks Computers to Mine Monero Cryptocurrency

Researchers at cybersecurity firm AlienVault have discovered a computer virus of North Korean origin which infects and hijacks computers in order to mine Monero, a private digital currency which styles itself as “secure, private and untraceable.” Cryptocurrency mining is the resource-intensive process by which computers or “miners” running specific software verify cryptocurrency transactions. In exchange … Continue Reading

Initial Coin Offerings and Cryptocurrencies Will be a Priority for FINRA in 2018

In a ten page letter that previews the Financial Industry Regulatory Authority’s (FINRA) priorities for 2018, initial coin offerings (ICOs) and transactions involving cryptocurrencies. This follows previous warnings by both the Securities and Exchange Commission (SEC) and FINRA about the risks associated with investing in ICOs and virtual currencies, including Bitcoin. SEC Chairman Jay Clayton … Continue Reading

Proposed Legislation in New York Would Recognize Enforceability of BlockChain Transactions and Explore Applications of Technology

While the investment potential of cryptocurrencies, including BitCoin, has been all over the news in recent weeks, state governments have begun to explore the practical applications of blockchain – the technology underlying BitCoin.  In New York, Assemblyman Clyde Vanel introduced four bills in late November related to blockchain technology. The first, Assembly Bill 8780, would … Continue Reading

$64 Million in Bitcoin Stolen from NiceHash

Many are lamenting not purchasing bitcoin now that its value has skyrocketed. Yesterday, Massachusetts Secretary of State William Galvin warned investors to stay away from investing in bitcoin, as he considers it a financial bubble that is a gamble for investors. Galvin stated: “It’s simply a creation of a vehicle which doesn’t exist backed by … Continue Reading

New Nevada Law Recognizes Enforceability of Blockchain Transactions; Blocks Local Government Regulation and Taxation

Senate Bill 398, unanimously passed by the Nevada legislature and signed into law by the Governor on June 5th, represents the most far-reaching state legislation to date concerning the use of blockchain technology. Blockchain is a decentralized database system that can be used to track and manage a broad range of digital transactions. Originally conceived … Continue Reading

Blockchain: What is all the buzz about?

Blockchain technology, introduced as the magic behind Bitcoin, is being touted by many as the next major disruptive innovation – in global trade and way beyond. At its core, Blockchain shifts the accounting function from third-party financial institutions and intermediaries to thousands of nodes (computers) on the Blockchain network that collectively maintain a public ledger … Continue Reading

Bitstamp obtains first payment institution license in the world

Bitstamp, the third largest Bitcoin exchange in the world and located in Luxembourg, announced on April 25, 2016, that it has obtained a payment institution license from Luxembourg, which means it is the first nationally licensed Bitcoin exchange in the world. The license was obtained through the European Union’s passport program, which gives reciprocity for … Continue Reading

Bitcoin traders allegedly bribe pastor to conduct transactions

New York federal prosecutors allege in an unsealed indictment that Trevor Gross, a New Jersey pastor at Hope Cathedral and Chairman of a credit union, was bribed $150,000 by illegal bitcoin traders to complete transactions for Coin.mx. The unregistered bitcoin exchange was reportedly behind the hacking of a major bank that affected up to 83 … Continue Reading
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