Day: May 15, 2023

ICO takes action against both Plymouth City Council and Norfolk County Council for failing to respond to information access requests

The Information Commissioner’s Office (ICO) has reprimanded two councils that have failed to respond to the public when asked for personal information held about them – known as a Subject Access Request (SAR). Both Plymouth City Council and Norfolk County Council repeatedly failed to meet the legal deadline of one to three months for responding to a SAR. The ICO has issued a reprimand to both councils, instructing them to take steps to ensure that the public receive their personal information within the statutory period. Following enquiries, the ICO found…

South Korean Politician Quits Party Over Crypto Scandal – Bitcoin News

A member of the South Korean parliament is leaving his party amid mounting allegations of massive crypto investments inconsistent with his frugal public image. The controversy, which has caught the attention of the Korean society, involves accusations of conflict of interest and other irregularities. Lawmaker Leaves South Korean Opposition Party Over Crypto Holdings Kim Nam-kuk, a representative in the South Korean National Assembly, announced he will leave his political faction amid a growing scandal surrounding his alleged cryptocurrency dealings. In a Facebook post on Sunday, he wrote: Today, I am…

Coinbase Unveils Global Advisory Council to Help Navigate Local and International Regulatory Landscape

The Coinbase Global Advisory Council will work together with top executives among other regulatory council members for the same common goal. Coinbase Global Inc (NASDAQ: COIN), a leading cryptocurrency exchange that is publicly traded in the United States, has increased its international interest amid regulatory scrutiny in the country. The exchange has in recent years focused on remote-first operations, which has significantly helped counter the Securities and Exchange Commission’s (SEC) fight against crypto. Moreover, the exchange is under the radar of Gary Gensler and his team for apparently offering unregistered…

Samsung to research South Korea’s CBDC for offline payments

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Tech giant Samsung Electronics has reportedly partnered with the South Korean central bank to conduct research on central bank digital currency (CBDC) for offline payments. On May 15, South Korea’s central bank — Bank of Korea (BOK) — and Samsung signed a memorandum of understanding (MoU) for research on offline CBDCs, according to local media KBS World. The collaboration will have both parties researching the offline capabilities of CBDC issued by South Korea’s central bank. Samsung had also participated in the second phase of BOK’s 10-month CBDC simulation experiment research…

Bitcoin wallets holding at least 1 BTC reach 1m mark

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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied The number of bitcoin (BTC) wallet addresses holding a minimum of 1 BTC has reached the million mark, indicating that investors are bullish on the flagship crypto asset. Despite the recent crash in bitcoin and other cryptocurrencies’ prices, on-chain data released by Glassnode, a blockchain analytics platform, show that investor interest in the super volatile digital asset class remains solid. Last month crypto.news reported that Satoshi Nakamoto’s revolutionary invention had entered the accumulation phase, with the…

Bitcoin Cash (BCH) Jumps 6% Ahead of ‘CashTokens’ Fork

Other proposed improvements already locked in include smaller transaction sizes – which help speed up transactional times – and smart contracts functionality that could allow Bitcoin Cash-based applications built that offer recurring payments, derivatives trading, and crowdfunding opportunities, among other uses, to Bitcoin Cash users. Source

US Justice Department on the hunt for DeFi hackers and thieves: Report

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The United States Justice Department’s crypto enforcement team is cracking down on Decentralized Finance (DeFi) hackers and exploiters, amid a four-year rise in illicit crypto activity. In a Financial Times report published on May 15, Eun Young Choi, director of the U.S. Department of Justice (DOJ) national cryptocurrency enforcement team (NCET), stated that the department is focusing on thefts and hacks involving DeFi and “particularly chain bridges.” Choi said it was a “pretty significant issue” for the DOJ given North Korean “state-sponsored hackers” have emerged as “key actors in this space.” North…

Primordial NFT? Someone tried to sell a JPEG for BTC months before Bitcoin Pizza Day

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Crypto Twitter was briefly set ablaze on May 14 with a suggestion that the world’s first real-world purchase made by Bitcoin may have been for a JPEG, not pizza.  In a tweet from independent developer Udi Wertheimer, the Bitcoin advocate shared a screenshot showing what could have been the first-ever purchase using Bitcoin — even predating the infamous Bitcoin Pizza. This Twitter Space was FIRE We discovered that: the first purchase EVER with bitcoin was buying a JPEG for 500 BTC in Feb 2010 it pre-dates the the famous 10,000…

Bolivia Mulls Chinese Yuan for Trade Settlements, Steve Hanke Proposes 30-Day Solution for Venezuelan Inflation – Bitcoin News

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Welcome to Latam Insights, a compendium of the most relevant crypto and economic development news from Latin America during the last week. In this issue, Bolivia mulls using the Chinese yuan in international trade settlements, inflation reaches 108.8% in Argentina, and Steve Hanke states he can eliminate Venezuela’s inflation in 30 days. Bolivia Mulls Using Chinese Yuan in International Trade Settlements The government of Bolivia has announced it is considering the usage of the Chinese yuan as a replacement for the US dollar for international trade settlements. The Bolivian President…