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Teenager Who Hacked Ledger Hardware Wallet Says Devices Still Vulnerable, Devs Deny

A teenager who said he succeeded in hacking Ledger’s hardware wallets can still do so, he claims, despite the company denying it. Cryptocurrency hardware wallet manufacturer Ledger continues to refute claims its devices can be hacked after a teenager compromised them, Ars Technica reports today, March 21. After British 15-year-old Saleem Rashid created code to ‘backdoor’ Ledger’s wallets in November 2017, the company released posts describing the events as “NOT critical” and said possible attacks “cannot extract the private keys or the seed.” Rashid then refuted the claims on social media and a post on his personal blog entitled “Breaking the Ledger Security Model” March 20, stating he could still “autonomously extract the root private key once the user unlocks the device” and use to it instigate manipulation of destination addresses for transactions. The argument puts pressure on both Ledger and its millions of users, who had until now broadly accepted the company’s claims its wallets were 100% secure. Hardware wallets are often recommended by the Bitcoin industry’s best-known names, including educator Andreas Antonopoulos, who like many others attempts to dissuade cryptocurrency investors from online storage of funds. Ledger attempted to patch a total of three security vulnerabilities in its hardware this month, including that identified by Rashid.…
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Twitter CEO Says Bitcoin Will Become World’s ‘Single Currency’ Within A Decade

The CEO of Square and Twitter predicts that BTC will become the world’s ‘single’ future currency. Jack Dorsey, the CEO of both Twitter and payment service Square, has said that he sees Bitcoin (BTC) as the world’s – and Internet’s – single future currency, The Times reports today, March 21. Dorsey believes that Bitcoin’s leading emergence will take “probably over ten years, but it could go faster”: “The world ultimately will have a single currency, the Internet will have a single currency.…
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What Does Trump’s Ban On Venezuelan Cryptocurrency Petro Mean For Its Future?

US President Donald Trump issued an order on March 19 to effectively disallow American investors from participating in the ICO of the Venezuelan Petro. US President Donald Trump issued an order on March 19 to effectively disallow American investors from participating in the initial coin offering (ICO) of the Venezuelan Petro, a cryptocurrency supposedly backed by the country’s oil reserves. Caracas Capital managing director Russ Dallen told Bloomberg that the prohibition of investment in the Venezuelan Petro will lead to the decline in speculation and interest towards the cryptocurrency.…
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A Blockchain Sexual Revolution: Crypto In the Adult Entertainment Industry

From dating apps, pornography and strip clubs, Blockchain technology is making moves in the adult entertainment industry Blockchain technology promises to revolutionize a number of industries and it has made its way into the most obscure sectors of society. The old saying ‘sex sells’ rings true in this day and age and the industry is truly massive, catering to a voracious appetite for services like dating websites, pornography, strippers and other sexual offerings. Given the massive market for these types of offerings, it's not surprising that some innovative minds have seen the value that Blockchain technology can offer their specific businesses. Some of it is groundbreaking, while other instances have merely adopted the use of cryptocurrencies as a means of payments for their wares.…
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ICOs Need Fresh Regulatory Guidelines From SEC

80-year-old legislation effectively regulates Initial Coin Offerings and 2018 could be the year the SEC and CFTC produce new laws to protect investors while promoting growth. An overarching theme for cryptocurrencies in 2018 has been developments in regulatory frameworks around the world. From South Korea, Russia, and the United States, governments and financial regulatory bodies have been hard at work creating new frameworks that will look to settle a continually turbulent cryptocurrency market as well as initial coin offerings (ICOs). In America, the Securities Exchange Commission (SEC) and Commodities Futures Trading Committee (CFTC) have been somewhat of a revelation for the cryptocurrency world, after a serious downturn in the markets in January 2018. Bitcoin and almost every other altcoin saw sharp declines from December highs amid misinformation and uncertainty around the world.…
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G20 and Cryptocurrencies: Baby Steps Towards Regulatory Recommendations

A July deadline has been mostly agreed upon by the G20 Nations for recommendations towards Global regulations for Cryptocurrencies Late last year, when interest in Bitcoin and its price was at its peak, France’s finance minister suggested that there be a public debate of Bitcoin at the G20 summit which concluded this week. The conclusion of this meeting, in regards to where the nations now stand on cryptocurrencies, is that a firm July deadline has been put forward for recommendations on how to regulate cryptocurrencies globally. There was some general uptake and interest in approaching this hitherto unknown and confusing space as countries had, up until now been forging forward mostly on their own in terms of regulations. However, as the conference kicked off, the buck was soon slowed as the Financial Stability Board (FSB) - which coordinates financial regulation for the Group of 20 Economies - resisted calls from some G20 members to discuss regulating cryptocurrencies at the conference. Instead, many of the member states, but also a few notable exceptions, decided that cryptocurrencies needed to be examined further, and that more information was needed before any regulations could be proposed. Therefore the first steps have been laid as July will see G20 nations bringing forward their data and information to begin recommendations on how to go about globally regulating cryptocurrencies. Baby steps The announcement came from Argentina Central Bank chair Federico Sturzenegger who said: "In July we have to offer very concrete, very specific recommendations on not 'what do we regulate?'…
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US National Security Agency Develops System To Identify Bitcoin Users, Say Leaked Docs

The NSA reportedly tracks down cryptocurrency users with secret internet surveillance programs, allowing them to link Bitcoin wallets to users. The US National Security Agency (NSA) is reportedly able to locate senders and receivers of Bitcoin around the world, as classified documents provided by Edward Snowden reveal, The Intercept reports March 20. The sources used for this article were disclosed to The Intercept, a publication dedicated to ‘adversarial journalism’ founded by Glenn Greenwald, Laura Poitras, and Jeremy Scahill following Edward Snowden’s revelations of mass reconnaissance in 2013. The NSA managed this by creating a system for harvesting, analyzing, and processing raw global internet traffic using a program disguised as a popular anonymizing software, according to other documents dating March 2013. OAKSTAR and MONKEYROCKET Though the agency was interested in monitoring some competing cryptocurrencies, Bitcoin (“a decentralized digital currency system, wherein the units are known as Bitcoin or BTC”) was its primary target. Tracking was performed by means of a secret internet surveillance program under the code name OAKSTAR, which represents a range of covert corporate partnerships that enabled the agency to monitor communications and pull data directly from the fiber optic connections that form the internet undergird. A VPN-like service called MONKEYROCKET, a subprogram of OAKSTAR, played a crucial role in identifying Bitcoin users.…
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Russia: State Duma Considers Law ‘On Digital Financial Assets’, Echoes US Regulations

The State Duma of Russia is considering a draft of federal law ‘On Digital Financial Assets’, echoing the KYC requirements of US crypto exchanges. A group of Russian deputies headed by Anatoly Aksakov, Chairman of the State Duma Committee on Financial Markets, submitted a draft of federal law on cryptocurrencies and Initial Coin Offerings (ICO) regulations to the State Duma, as reported in an official press release March 20. According to the press release, the documents “On Digital Financial Assets” and “On Alternative Methods of Fundraising (Crowdfunding)” were prepared in accordance with the recent instructions from president Vladimir Putin, stating that cryptocurrency regulations will become law by July 1, 2018. The bill “On Digital Financial Assets” was first introduced on Jan.…
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China’s Crypto Innovators Not Fazed By Bans Or Strict Regulations, See ‘Promising Future’

Despite China’s regulatory restrictions on cryptocurrencies, two entrepreneurs have shown they see a future in the country’s crypto markets. While China has spent the past year implementing a series of prohibiting regulations that have made it almost impossible for the cryptocurrency industry to thrive within the country, Chinese crypto enthusiasts have not let government regulation prevent them from moving forward with crypto and Blockchain innovation. Operating in China within the limits of the many restrictions related to crypto  — from the ban of Initial Coin Offerings (ICOs) and domestic fiat-crypto exchanges in September 2017, to the additional January ban of “exchange-like services”, to the February ban of foreign exchanges — is reportedly not impossible. However, in light of these restrictions, many of China’s top exchanges and other crypto businesses have been forced to relocate to places with more tolerant policies, generally still within Asia, such as Hong Kong, Japan, South Korea, and Singapore. However, there are some Chinese innovators that see a future in the country’s crypto and Blockchain markets, regardless or in spite of current limitations for operating there.…