South Korean Economist Warns New Tax Laws May Slow Down Crypto Market Growth

The South Korean government recently announced their intention to impose a tax on cryptocurrency, leading to backlash. Korean Yonsei University economist, Sung Tae-yoon, warned that the decision to tax crypto capital gains may slow the technology’s emerging market, according to Koreatimes on June 21.  Sung said that taxing the crypto market while it is still in its infancy is a “premature” decision. He worries that tough regulations or taxation may prevent the crypto industry from flourishing in South Korea. He also believes:  “Cryptocurrencies cannot be considered a universal asset like…

Chainlink (LINK) Near New All-Time High — Here’s 3 Reasons for the Rally

Chainlink (LINK), a smart contract blockchain network, is nearing an all-time high after the altcoin broke out today, notching a 11% gain at the time of writing. The altcoin first hit a record high at $5.10 in July 2019 before crashing to $1.35 during the Black Thursday marketwide correction on March 12. Over the past two weeks LINK has gained 33% and if the price pushes above its previous all time high there is room for price discovery. Crypto market daily performance. Source: Coin360 Three factors likely triggering LINK’s upsurge…

20 Questions Gavin Andresen Should Have Asked Craig Wright, But Didn’t

The deposition of Gavin Andresen in the Kleiman v. Wright case unveils numerous new details about Craig Wright’s efforts to prove he is Satoshi Nakamoto. The deposition included questions about the proof session during which Wright allegedly signed a message with a private key from an early Bitcoin block. The deposition took place on February 26 and 27 2020. Though Kleiman’s attorney, Velvel Freedman, presented Andresen with dozens of questions, Andresen had little to share about his own diligence in authenticating Wright’s claims. We have grouped questions and responses by…

Debit Card Data Auctioned on Dark Web After Ransom Goes Unpaid

The REvil ransomware gang is auctioning off sensitive information, stolen from debit card services provider, Interacard. According to REvil’s website, the information is available in an auction listing published by the group. All prospective bidders are required to pay using Monero (XMR). REvil has previously only auctioned data in cases where their name-and-shame tactics fail to extract payment from a targeted company. That does not appear to be the case this time, however. Hypothesis behind going directly to the auction stage Speaking with Cointelegraph, Brett Callow, threat analyst at malware…

WEF Says Complete Blockchain Overhaul Unlikely

Ashley Lannquist, blockchain project lead for the World Economic Forum, or WEF, explained blockchain has its use cases, but the technology is not without limitations.  “I think it is unlikely that blockchain technology will become the underpinning technology of all systems in the future,” Lannquist told Cointelegraph.  When asked about blockchain adoption’s biggest roadblock, she explained: “Because of the trade-offs associated with blockchain – including capabilities as well as limitations and downsides – it has not been easy to identify many high-value use cases. This is probably a significant roadblock to…

Ransomware Gang Seeks Million Dollar PayDay

A malware group called Evil Corp is reportedly back in action, having recently launched a new ransomware which asks its victims to pay a million dollar ransom. The group had previously gone quiet after the U.S. Department of Justice charged some of its members in December 2019. According to a report published on June 23 by the cybersecurity firm Fox-IT, a division of NCC Group, Evil Corp has been active since 2007 — the group is considered to be one of the biggest cybercrime teams on the internet. They are…

Bitpay Accepts Company of the Year Accolade

Digital asset transaction platform, Bitpay, has won the Frost & Sullivan Company of the Year Award in the alternative payments category. “Bitpay is a true industry leader, delivering best practices in growth, innovation, and leadership,” David Frigstad, Frost & Sullivan’s chairman, said in a June 23 statement.  Frost & Sullivan is a notable market research company over 50 years old.   Bitpay facilitates payment in Bitcoin Founded in 2011, Bitpay paved the way for businesses to accept Bitcoin as a form of payment. Operating in 164 countries, Bitpay has integrated with more…

Big Four Auditing Firm KPMG Launches a Crypto Management Suite

Big four auditing firm KPMG launched a cryptocurrency management suite with analytic features. According to a June 22 announcement, the new KPMG Chain Fusion suite is meant to allow financial technology companies to more easily offer crypto asset services on an institutional scale. The news follows a KPMG report which suggested that institutional custody services are of the utmost importance. Ensuring compliance for crypto businesses Crypto assets function very differently compared to traditional assets when it comes to technology infrastructure, operational mechanics, and inherent risks. Those differences translate to challenges…

Ethereum Update Indicates 2.0 Still Coming Along

A recent post on Ethereum’s blog shows the network’s version 2.0 is still coming, noting several developments since its last update. “Aside from written updates […] and other public summaries, client teams, contributors, and community members/prospective-validators have been busy,” said a June 23 post on the Ethereum blog. Ethereum 2.0 still en route A long time coming, Ethereum 2.0, or ETH 2.0, still has not yet gone live with the network’s transition into proof-of-stake, or PoS, consensus.  The network’s blog posted its 12th ETH 2.0 update recently, stating a team…

Crypto Subreddit Mods Remove Post That Connects Kik to Child Porn

On June 18, a user posted a link to a court document that accuses Kik of facilitating the exchange of child porn on the Kin Foundation’s subreddit. The link was then crossposted to Solana’s subreddit. Moderators for both subreddits subsequently removed the posts. Cointelegraph contacted the moderators of both subreddits on June 22, but received no explanation. Solana’s subreddit moderators later deleted Cointelegraph’s public inquiry, as shown by the Reddit anti-censorship tool, Snew. Kik is in the midst of a sex trafficking lawsuit Removeddit is a content retrieval service that…