Cryptocurrency Platform Vexel Announces Crypto-to-Fiat Processing Service Along with P2P Telegram Bo – U.Today

Cryptocurrency platform Vexel, which simultaneously functions as a cryptocurrency exchange, e-wallet, and payment service, has added support for crypto-to-fiat payment processing, according to the company's latest announcement. Its customers are now able to deposit or withdraw money through a wire transfer in their personal account.

Vexel states that the ability to register with the website was one of the top requests among its users. This makes it a whole lot easier to interact with the service.

The registration process is very straightforward it only requires filling out a simple form with your login, password, and e-mail address. After that, you can create a new account with any supported currency.

Must Read

While users can create a Vexel anonymous and without registration, which is one of the main selling points of the platform, there is mandatory KYC (Know Your Customer) for those who want to deposit or withdraw fiat money via a bank transfer. You can create invoices in any currency to pay them with crypto later.

The company also reveals that it will soon support withdrawing funds to Visa/MasterCard credit cards in USD around the world.

To top that off, Vexel will debut a peer-to-peer Telegram bot that will allow buyers and sellers to make transactions without third-party services and fees.

As reported by U.Today, the company introduced QR code payments and its own exchange back in 2019.

Read the original post:
Cryptocurrency Platform Vexel Announces Crypto-to-Fiat Processing Service Along with P2P Telegram Bo - U.Today

CES 2020: SecuX Launches the World’s First All-in-One Cryptocurrency Retail Payment Solution Built with Blockchain Hardware Wallet – Business Wire

HSINCHU CITY, Taiwan--(BUSINESS WIRE)--SecuX Technology Inc., a Blockchain Security Company, foresees the emerging of cryptocurrency payment and the requirement to let various Brick-and-Mortar Retailers accept different crypto coins/tokens through multiple wallet mobile apps in a single device.

SecuX Cryptocurrency Retail Payment Solution includes three components: The first one is a White-label Mobile App (or a SDK) that can add any payment cryptocurrency with the existing fiat-currency payment app. The second one is Payment Terminal/Module which can operate standalone without the internet connection. It is possible to connect to any legacy POS System or to install in the existing self-service machines or the vending machines. The third one is a Hardware Wallet with a military-grade Secure Element chip inside with a receiving address only to accept cryptocurrencies payments from SecuX payment terminals for the shop owner. SecuX cryptocurrency retail payment solution is the best choice as the aftermarket upgrade to the cryptocurrencies payments on their existing payment acceptance systems.

SecuX invites global frontier partners including Mobile Payment Service Companies, Brand Currency Hosts and Cryptocurrency Payment Providers to SecuX booths at Digital Money Forum and Eureka Park of CES 2020. You will experience how the crypto payments are effected on an offline brick-and-mortar store in a quicker, more secure and definitely more affordable!

SecuX can be found on:

Twitter: https://twitter.com/SecuXwallet/ Facebook: https://www.facebook.com/secuxtech/ LinkedIn: https://www.linkedin.com/company/secuxtech/ YouTube: https://www.youtube.com/channel/UCfSfjbBHYgGIOcQJoB5hotQ Reddit: https://www.reddit.com/user/SecuXwallet

Originally posted here:
CES 2020: SecuX Launches the World's First All-in-One Cryptocurrency Retail Payment Solution Built with Blockchain Hardware Wallet - Business Wire

New York Could Launch Own Cryptocurrency, Blockchain Banking: How Will It Work? – International Business Times

KEY POINTS

Facebook's Libra might be in limbo at the moment with a 2020 debut sounding doubtful, but that doesn't stop New York from seeing the residents of its state transacting with its own cryptocurrency.

New York lawmakers look to solve a persistent problem for the largely unbanked population in the state by proposing a "public Venmo." New York state assembly member Ron Kim, senator Julia Salazar, and Cornell law professor Robert Hockett submitted their proposal back in November, as reported by VICE.

What the lawmakers support is blockchain-based banking and a cryptocurrency that is aimed at allowing compensation for work that is often underpaid or unpaid such as caring for the elderly, babysitting, and other similar activities.

The way it works is that businesses and citizens of the state would each have their own virtual wallets that are connected to a sort of "master wallet" controlled by the New York government. This effectively removes the transfer fees if the same transaction was done with a bank and speeds up the process. It also helps in concentrating the circulation of money in low-income communities since it's all done digitally.

"I believe that our proposal, the Inclusive Value Ledger, has the potential to be truly revolutionary," Kim said in a public statement.

"The creation of a free public savings and payment platform that all New Yorkers can use, not only to pay for goods and services but also to transfer money directly to each other through, could fundamentally reshape New York into a fairer, healthier, wealthier, and more inclusive place for all."

If the lawmakers' proposal comes to fruition, this will be the first publicly-owned electronic banking platform for the U.S. and will have overtaken China in developing the first crypto with government backing.

China's crypto, the DC/EP, which stands for Digital Currency/Electronic Payments, is a solution that's applicable country-wide and is its answer to Libra. It's also seen as a move to bolster the influence of RMB globally, according to Flex Yang, the co-founder, and CEO of Babel Finance. But China's scheduled launch of its Blockchain Service Network (BSN) in April this year will perhaps expedite any plan of introducing a digital yuan.

New York City is one of five finalists for the 2016 Democratic National Convention. Photo: Reuters

See the original post here:
New York Could Launch Own Cryptocurrency, Blockchain Banking: How Will It Work? - International Business Times

Cryptocurrency And Its Impact On Fintech – Android Headlines

Whether you have prior knowledge of cryptocurrency, or you are just beginning to try your hand at buying and trading, there is no denying that this digital currency has contributed to the shift of online banking and other fintech technologies. As the implementation of blockchain continues across a number of industries and more investments are made to implement new and exciting technologies to streamline the business sector, it is the boom of cryptocurrency that contributed to the booming industry we see today. In this article, we will be looking into cryptocurrency as a whole as well as the impact that it has had on the Fintech industry up until the present day.

2016 was a huge year for the fintech market as well as the Bitcoin and other cryptocurrencies as this style of currency began to revolutionise the finance sector as we know it. With a virtual currency allowing for cheap online payments without the need for multiple traditional channels. It was in the year of 2016 that the price of Bitcoin has jumped from around 572.33 to about 4,764.87 U.S Dollars in August of 2017. As the virtual currency began to gain popularity, this then increased the price of the virtual currency to approximately $9,225 US dollars.

This was highly beneficial for both businesses and individuals investing in this style of currency as many experienced a large amount of profit as a result.

As cryptocurrency began to increase in popularity, there were a number of benefits that could completely revolutionise the business sector as we know it. With virtual currencies only being affected by inflation and currency exchange rates to a certain extent, this allowed for businesses big and small to make payments quickly at a consistent going rate. Due To the decentralised nature of such online currency, the price of a cryptocurrency is determined by these ongoing factors:

These factors make this highly beneficial to businesses as they can be tracked with ease, this, therefore, allows a business to buy and sell crypto without losing out on their investment in the long term.

Another benefit to business when using online currencies such as this is the speed at which payments can be made. With each payment being sent within just a few minutes, you can transfer money from business to business without any additional fees. This is great for quick business transactions such as buying and purchasing goods as money can change hands securely. With a number of businesses such as Shopify and tech giant Microsoft now making the most of this online currency for customers, there are set to be a number of other businesses looking to adopt this style of currency in the near future.

In addition to the ability to make faster and more secure international payments, there is also the ability to replicate trading patterns using online trading platforms such as Etoro. These services not only allow you to closely monitor your own investments, but they allow for you to monitor the patterns of a number of markets all from your own home page. Since the birth of Etoro in September of 2007 the company have continued to completely revolutionize international trading forever. With their fintech technology allowing users to trade in financial assets in 2009 and evolving to include stocks in 2013 and cryptocurrency by 2017, the company have continued to evolve and provide new and exciting fintech technologies to the benefit of the user.

Though competition is needed for a sector to thrive, cryptocurrency and the development of fintech technologies has led to an increase in the availability of markets. With fintech technologies such as online trading platforms, mobile banking and blockchain technology, investing in international marketplaces as well as navigating the finance industry is now easier than ever before. Though this is only in the early stages of implementation, the increased availability to a number of markets is enticing a number of industries to adopt some form of fintech technology.

The final way that fintech has had to evolve due to cryptocurrency is through the more secure ways of trading. Whether this is the encryption of data with every payment or a secure wallet with an identification number, blockchain technology has had to evolve in order to up security protocol. In addition to its use in cryptocurrency, blockchain can also be implemented in a number of business sectors to ensure the security of personal information. Though this is only in the development stages at this time, 2020 could be the year that this style of technology helps to streamline a number of processes across multiple sectors.

Though traditional banking is still needed in a number of cases, fintech technology such as online banking applications and personal savings apps have helped to revolutionise the financial industry. Not only has it made payments faster, but it has also allowed for users to feel more in control of their finances as a result. But how has it affected behaviours outside of cryptocurrency?

With applications such as PayPal, Google Pay and Apple Pay seeing as much as a 30% increase year on year in transactions, this new way of paying is gaining popularity quickly. But how else has it affected other aspects of our lives? The increase in financial technology has also made lending and borrowing easier for businesses and individuals as a number of peer to peer lenders have created online applications for quick applications. This has benefitted the financial industry as there the availability of alternative finance such as this is now easier than ever.

Though the future of fintech technology remains relatively unclear as we move into the new year, 202o is set to be a big year for the industry. Not only will we experience further movement in the crypto industry as new companies enter the market, but we are also set to see the link of Blockchain and the internet of things. In a report outlined by the International Data Corporation, there is said to be an increased interest in the convergence of the internet of things and blockchain I order to produce state of the art, secure solutions for a number of different sectors. Whether this is an extensive database for a business or increased efficiency with production companies, this convergence could be the next big technological breakthrough that we need.

With this in mind, there are a number of ways that fintech technology as well as the growing popularity of cryptocurrencies have helped a number of industries to expand. Whether this is through the integration of blockchain technology alongside intelligent Ai systems, or the continued use of online trading by individuals and businesses alike, only time will tell as to what is next for this growing industry in 2020.

Read more here:
Cryptocurrency And Its Impact On Fintech - Android Headlines

Were the 2010s a return to the 1930s? – The Japan Times

The 2010s came to an end on Dec. 31. Any period is comprised of irreplaceable memories for those who lived through it, but the decade band is a particularly vivid marker of time. This was especially true of the 2010s.

During this decade, the framework of the long postwar period its international order, domestic political structures, and the organization of industry and media started to crumble.

It was the Lehman shock of 2008 that gave birth to the roaring and tumultuous decade that followed. It triggered a global financial crisis, reduced trade and forced free trade into retreat.

The Lehman shock also complicated the euro crisis, encouraged both China and Russia to challenge the international order and flout established rules, and fostered opposition to globalization and liberalism among advanced industrial nations while encouraging the counter-currents of populism and nationalism.

These counter-currents were particularly striking in Britain and the United States the two countries that have been the worlds leading forces of liberalism as they were manifested in the 2016 Brexit vote and the election of Donald Trump as U.S. president. Meanwhile, votes won by political parties opposing European integration among EU member states have doubled over the past decade.

The collapse of the international order began in the Middle East. Following the setback of the Arab Spring democracy movements, Syria and Libya slipped into national dissolution and anarchy. The U.S. began to retreat from its global roles.

Next, the rise of China in the 2010s forced us to realize that a country with an entirely different political system had become a superpower and that we needed a new strategy to deal with this nation. In the U.S., Europe and Japan, a new view of China as a revisionist power and strategic rival that would threaten the existing international order is increasingly shared across party lines.

In retrospect, no words better capture the decade than those delivered by Chinese Foreign Minister Yang Jiechi at the July 2010 ASEAN Regional Forum. Scowling at the ASEAN foreign ministers assembled in the audience, Yang declared: China is a big country and other countries are small countries, and thats just a fact.

In his History of the Peloponnesian War in the fifth century B.C., the ancient Greek historian Thucydides records the following words from the Athenian envoy to the people of Melos: The strong do what they can and the weak suffer what they must. Yangs declaration is the 21st century version of the Athenian warning to Melos.

The 2010s also witnessed the social implementation of the Fourth Industrial Revolution as represented by the advent of artificial intelligence, 5G next-generation mobile networks, big data and blockchain, which captured both the real and the virtual within the net of the internet of things and connectivity.

On one hand, this enabled innovations that targeted individual needs within a diversifying society. On the other hand, it raised major fears surrounding the giant American platformers control over data and the dataism they have accelerated.

In 2013, Edward Snowden leaked highly classified information regarding the U.S. National Security Agencys surveillance program. In 2016, it was revealed that the British consulting firm Cambridge Analytica had worked for the Leave campaign ahead of the Brexit vote, manipulating political opinion. Just as people wondered whether the age of electronic voting would arrive, they realized that social networking services represented a threat to the very basis of free and fair elections. As the internet split into the Splinternet, the dark and repulsive future of the dark web is already upon us.

The 2010s are frequently compared to the 1930s. The British historian Ian Kershaw identifies ethnic-racist nationalism, territorial revisionism, acute class conflict and a prolonged crisis of capitalism as the four concurrent crises of the interwar years (between the first and second world wars). Kershaws analysis is beginning to resonate with the present moment in terrifying ways.

The fascist parties of 1930s Europe gained the support of ordinary citizens by advocating for a welfare state. In the face of economic depression and extremely high unemployment, women who had initially turned their backs on Nazism because they disliked its violence eventually demonstrated the same level of support as men for Nazism in elections after the early 1930s.

This was because the Nazi regime successfully created jobs for people who had lost their occupations and provided a brief period of stability for German households.

Despite many similarities, the 2010s were not the second coming of the 1930s. At present, at least, it is difficult to imagine a war breaking out between the worlds great powers. Todays populist movements lack the militaristic slant of 1930s populism.

Furthermore, climate change has become a major issue for the entire world. This may prompt greater cooperation across national borders, and solidarity among the worlds youth in particular. They have the media tools to connect individuals throughout the world to make that possible. Indeed, the speech by the 17-year-old Swedish environmental activist Greta Thunberg before the United Nations may herald the advent of a new tide of international climate change politics.

Yoichi Funabashi is chairman of the Asia Pacific Initiative and a former editor-in-chief of the Asahi Shimbun. This is a translation of his column in the monthly Bungei Shunju.

See original here:
Were the 2010s a return to the 1930s? - The Japan Times

How To Blow The Whistle – The Beachwood Reporter

By Boing Boing

In A Public Service, activist/trainer Tim Schwartz presents the clearest-ever guide to securely blowing the whistle, explaining how to exfiltrate sensitive information from a corrupt employer - ranging from governments to private firms - and get it into the hands of a journalist or public interest group in a way that maximizes your chances of making a difference (and minimizes your chances of getting caught).

Parts of A Public Service read like a spy thriller, covering detailed operational security planning - everything from buying a burner phone to doing research into possible journalists to take your docs to - all without leaving a trail that can be traced back to you.

Schwartz draws on the lessons of whistleblowers who remained anonymous (like the Panama Papers' John Doe); to those who got away with it, more or less (like Edward Snowden); to those who ended up in jail for their bravery (like Reality Winner).

Schwartz goes over their planning and execution with a fine, forensic lens, making it clear where they were smart, where they were lucky, and where their luck or their planning failed them.

Every technical lesson is presented in clear, easy-to-follow terms - and more importantly, this technical material is embedded in super-sharp context explaining how to assess your risks and use your technological information to counter them.

Schwartz begins at the beginning, with steps for getting data out of a network without leaving signs that point to you, and then carries on through the whistleblowing process - sanitizing identifying information in the files, securely transmitting them, and then covering any trace of your possession.

Just as important are Schwartz's chapters on how to figure out who you should leak your documents to, and then how to contact them in a way that is likely to get your leaks taken seriously enough to rate a follow-up (both public interest groups and journalists get far more tips than they can handle, so this is every bit as important as the security advice).

He also discusses when you might expect to have to go public - as with a workplace sexual assault accusation, say - and how to prepare yourself both mentally and technologically for the inevitable fallout.

The book ends with a chapter of sample cases and a chapter of advice to journalists and public interest groups who might want to receive leaks of this sort, explaining how to be a good steward of that information and a safe haven for leakers.

This is an outstanding, simple guide to a daunting and vital subject. Schwartz has done outstanding work explaining the ethical, personal, technical and legal considerations in blowing the whistle.

-

From the publisher:

"Governments and corporations now have the tools to track and control us as never before. In this whistleblowing how-to, we are provided with tools and techniques to fight back and hold organizations, agencies, and corporations accountable for unethical behavior.

"Can one person successfully defy a globe-spanning corporation or superpower without being discovered? Can a regular citizen, without computer expertise, release information to the media and be sure her identity will be concealed?

"At a time we're told we are powerless and without agency in the face of institutions such as Google, Facebook, the NSA, or the FBI, digital security educator Tim Schwartz steps forward with an emphatic 'yes.' And in fewer than 250 pages of easy-to-understand, tautly written prose, he shows us how.

"A Public Service can teach any one of us the tricks to securely and anonymously communicate and share information with the media, lawyers, or even the U.S. Congress.

"This book is an essential weapon in the pervasive battle to confront corruption, sexual harassment, and other ethical and legal violations."

-

The author is also an artist.

-

Plus:

-

Comments welcome.

Originally posted here:
How To Blow The Whistle - The Beachwood Reporter

How the privacy debate will shift in 2020 – Bizcommunity.com

Data privacy and protection are likely to be high on the agenda for 2020 in the wake of Facebook-Cambridge Analytica and other data scandals. These controversies have prompted regulators and consumers alike to question how much personal data big tech companies gather, how they put it to work, and how they store and manage it.

The enactment of the European Unions General Data Protection Regulation (GDPR) in 2018 in response to personal data privacy concerns was a watershed moment, setting a benchmark for global data protection regulation that is likely to be emulated in many parts of the world. Yet the debate has already moved on.

Edward Snowden the NSA-whistle blower living in exile in Russia after exposing Americas mass surveillance programmes for example, argues that we should not be looking only at protection of data. We should also ask whether this personal data should be collected in the first place, given that leaks or abuse of the data are inevitable.

He says that the underlying assumption of GDPR and similar data privacy laws is that the collection of data in the first place was proper, that it was appropriate and that it doesnt represent a threat or danger. That its okay to spy on your customers or your citizens so long as it never leaks.

This reframing of the debate could have profound implications for digital marketing if it becomes increasingly difficult for programmatic platforms to collect data that enables brands to run highly targeted advertising campaigns. We could see lawmakers question whether the way these platforms gather and use data is truly in customers best interests.

As powerful as these capabilities are, it is perhaps also time for marketers to question whether they should amass as much personal data as they can without asking whether their customers are in favour of it. Many leading brands believe that they could benefit from shifting from mass collection of data towards collecting data only with customers consent.

The obvious drawback is that brands have less customer data to use for their targeted campaigns; the upside is that marketers can build trust among their customers by asking for permission and being transparent about how they collect and use data. They can overlay mass data with surveys and other tools to not only understand what customers are doing but why they are doing it.

Data captured via tags embedded within sites for targeted campaigns is still the most effective way to gather vast amounts of client data quickly. It will always be more efficient than survey-based data, but if regulation starts to move from protection to collection it is worth building the capability now in anticipation of that possibility.

Its not necessary to gather likes to market your product or service to a user on Facebook. You can reach him or her through a range of more precise targeting criteria that are far better qualified. I would rather have 80% less likes on my page if I knew that remaining 20% were genuine brand ambassadors.

One way to get richer data is to use survey data consumers knowingly provided to target ads on platforms such as Facebook. This can build trust with the customer, since they will have more control over how their data is used to target messages to them. The brand can still leverage the data the platform collects about the user, while using the data the user-supplied for more accurate and transparent engagements.

We work closely with platforms such as Google and Facebook, and believe their intentions are generally good. However, marketers also need to keep ahead of the evolving data privacy debate and position themselves for the best practices of tomorrow. Those that get it right will be able to both target their customers at a highly granular level and build trust in their brands by using data in a manner that respects concerns of consumers and regulators.

Read the original post:
How the privacy debate will shift in 2020 - Bizcommunity.com

Security guard stunned as he sees UFO rising from construction site and soaring off – The Sun

A SECURITY man was stunned when he witnessed a "UFO" rising from a California construction site and soaring off.

The bizarre footage shows an exceptionally bright, unspecified object slowly rise into the night sky before momentarily pausing mid air and speeding away at incredible speed.

6

6

Douglas Benefield was working as a night watchman - in Cathedral City, CA, on July 23, 2018 - when he made the eerie sighting.

The 48-year-old explained the unusual sighting: I was sitting there and everything just felt weird all of a sudden, I cant really explain.

Then out the corner of my eye I saw something on the monitor, so I played it back and I couldnt believe my eyes.

"I kept watching it over and over again.

Immediately after, Douglas recorded the security footage from his cellphone and texted it to his eldest son Sklyer.

Skyler watched the video and responded: WTF IS THAT?

Sun Online has not been able to independently verify the footage.

Douglas blamed his busy life as the reason why he didnt think to show the footage to anyone else.

But after recently finding the video again, he decided it was something that needed to be shared with the public.

He said: I cannot explain what is going on in that video but its extremely strange.

"Ive watched it so many times and it still gives me chills."

According to one scientist, UFOs could be "time machines" operated by humans from the future.

Scientists have failed to find alien life in scans of 1,300 stars but say theyre not giving up yet.

Breaking

SHOCK STOP Iranian national armed with 'knives, ax' stopped near Trump's Mar-a-Lago

PREZ'S PAIN Trump weighs in on 'sad' Megxit declaring 'it shouldn't happen to the Queen'

RUSSIAN RAM RAID Russian warship ignored warnings and 'aggressively approached' US vessel

BOEING WOE Boeing workers thought 737 Max was designed by clowns in damning messages

WORLD AT HIS FEET American Horror Story star Harry Hains, 27, dead after addiction battle

DEATH DISH Trump 'served up US justice' to Iran General & attacks 'Nervous Nancy' at rally

Last year, notorious whistle blower Edward Snowden revealed he snooped on US intelligence networks for proof of aliens.

And,here's a list of asteroids that could crash into Earth including one with a one in 16 chance.

6

GOT a story? EMAIL exclusive@the-sun.com

More:
Security guard stunned as he sees UFO rising from construction site and soaring off - The Sun

So, who has been wiretapping the prime minister? – Free Malaysia Today

In their excitement to try to further incriminate the former prime minister Najib Razak by releasing phone recordings clearly obtained from wiretaps on the then PM in 2016, the MACC chief commissioner Latheefa Koya, the inspector-general of police and the present PM seem to treat this serious breach of national security with uncharacteristic nonchalance. Hows that?

May I remind them that the Watergate scandal in the United States, involving the administration of President Richard Nixon from 1972 to 1974, led to Nixons impeachment and his eventual resignation?

The scandal stemmed from the June 17, 1972, break-in of the Democratic National Committee (DNC) headquarters at the Watergate Office Building in Washington, DC, by five men and the Nixon administrations subsequent attempts to cover up its involvement in the crime.

Senators heard testimony that the president had approved plans to cover up administration involvement in the Watergate break-in, and learned of the existence of a voice-activated taping system in the Oval Office.

The scandal resulted in the indictment of 69 people. Trials or pleas resulted in 48 people many of them top Nixon administration officials being found guilty.

Watergate has become analogous to clandestine and often illegal activities undertaken by members of an administration. Those activities included bugging the offices of political opponents and people of whom Nixon or his officials were suspicious; ordering investigations of activist groups and political figures; and using the Federal Bureau of Investigation (FBI), the Central Intelligence Agency (CIA), and the Internal Revenue Service (IRS) as political weapons.

Our own deep state or foreign spies responsible?

Could the wiretaps on Najib have been done by foreign spies?

We know the scandal in 2013 when the US National Security Agency was discovered to have tapped phone calls involving German chancellor Angela Merkel and her closest advisers for years and spied on the staff of her predecessors, according to WikiLeaks.

It led to the conclusion that the US diplomatic mission in the German capital had not just been promoting German-American friendship but it was a nest of espionage. The NSA spying scandal became a serious threat to the trans-Atlantic partnership. Was Angela Merkel upset!

So, if there is a likelihood that the wire-tapping of then PM Najib was done by such foreign operatives, dont you think our present PM would likewise be terribly upset? But I dont hear a squeak out of him. Is he not concerned that he might be the victim of such wiretapping? If not, why not?

If we leave out the possibility of outside interference, then the wiretapping of the Malaysian PM would certainly involve the so-called deep state that PH leaders have alluded to or blame whenever they are treated with insubordination by the civil servants.

I believe there is a deep state that has played the role of the powers-that-be at least since May 13, 1969 and that planned the New Economic Policy and the Malay Agenda to the present day.

Now, we certainly wont be able to defrock this deep state for sure but the attorney-general should pursue a line of enquiry that uncovers who were responsible for the wiretapping of the then prime minister of Malaysia in 2016.

I am sure he is as concerned as we are that the prime minister of Malaysia can be subject to wiretapping by the powers-that-be.

I rather doubt the credibility of the Malaysian police who are complicit in this so-called deep state and who cannot find pastor Raymond Koh after two years or identify two grown men in a sex video in flagrante delicto!

Kua Kia Soong is the adviser to Suaram.

The views expressed are those of the writer and do not necessarily reflect those of FMT.

See the original post:
So, who has been wiretapping the prime minister? - Free Malaysia Today

What is the Cryptocurrency Act 2020? – Yahoo Finance

Yesterday, I wrote an article about new cryptocurrency regulations popping up around the world.

One of the main pieces of legislation I discussed was the Cryptocurrency Act 2020, a new bill being proposed in the United States.

The goal of the new legislation is to provide additional clarification on digital asset regulations. The bill has some wide-ranging regulations that, if voted into law, could reshape the crypto landscape moving forward at least in the United States, that is.

The US senator who put forward the Cryptocurrency Act 2020, Paul Goser, stated that it was his desire to attribute regulatory clarity to the market.

In this article, I will dive deeper into what the Cryptocurrency Act 2020 is, how it will affect Americans, and what to expect from regulatory bodies.

The Cryptocurrency Act 2020 begins with the categorisation of digital assets into three main groups. These groups are then used to determine which agencies are responsible for the creation of regulation and legislation. The first group described in the new bill is cryptocurrencies.

The crypto class includes Bitcoin, Bitcoin Cash, Litecoin, and any other cryptocurrencies that dont fall under the current securities regulations. The bill classifies these tokens as any digital asset that includes representations of United States currency or synthetic derivatives resting on a blockchain or decentralised cryptographic ledger.

Smart contracts and oracles fall under the cryptocurrency category as well.

The next class described in the bill is crypto-commodities. A key aspect of these tokens is the fact that they contain some form of substantial fungibility.

Fungible assets are interchangeable, such as the USD. These assets must reside on a blockchain or decentralised cryptographic ledger to fall under this classification.

The final type of coin described in the bill is crypto-securities. These tokens are simply any coin that fails the Howey Test.

The three regulatory bodies mentioned in the bill that will oversee the cryptocurrency space include the Commodity Futures Trading Commission (CFTC), the Securities and Exchange Commission (SEC), and the Financial Crimes Enforcement Network (FinCEN).

These groups will gain sole authority over their respective digital asset types. Lets explore how each regulatory body operates.

The CFTC would gain jurisdiction of the crypto-commodities class. The group will need to develop the framework for these tokens from the ground up if the legislation passes. Due to the rise of cryptocurrencies, it is expected crypto-commodities will play a major role in the space going forward.

The Cryptocurrency Act 2020 keeps security tokens under the watchful eye of the SEC. The SEC recently began cracking down on what it considers illegal securities offerings from the 2017 ICO craze. Two examples I mentioned yesterday were EOS and Telegram. Ethereum was also slapped on the wrist by the SEC for conducting an unregistered securities sale.

Last but not least, FinCEN will be in charge of cryptocurrencies that are used as e-money. FinCEN will need to collaborate with the Secretary of the Treasury to enforce AML and KYC protocols in the market. Primarily, regulators want to develop a way to trace all cryptocurrency transactions, which seems highly questionable.

A great deal of crypto enthusiasts point to the new legislation as a means to combat Facebooks proposed digital asset Libra. Ever since Facebook announced its goals to produce a stablecoin that will operate on its network, lawmakers have been in a rush to configure some form of framework to contain the companys potentially game-changing product.

Multiple senators have called for Libra to be categorised as a security. Last year, a group of bipartisan US senators proposed a bill that would place all stablecoins into the securities category. The bill the Token Taxonomy Act of 2019 would firmly place Facebooks latest crypto under the regulatory supervision of the SEC.

I personally believe the objective of the Cryptocurrency Act 2020 is to enforce regulations and to force crypto companies to play by the same rules.

Will the Cryptocurrency Act 2020 make changes that will ripple throughout the space? It is too early to tell. However, from experience, it seems regulatory bodies enable new money to come into the space, so lets hope for the best.

The post What is the Cryptocurrency Act 2020? appeared first on Coin Rivet.

See the rest here:
What is the Cryptocurrency Act 2020? - Yahoo Finance