Regulatory risks grow for DeFi as a ‘money laundering haven’

The rapid growth in decentralized finance and yield farming is likely to attract greater regulatory attention according to a recent report. A joint research paper by global management consulting firm BCG Platinion and Crypto.com has indicated that the rapid growth in DeFi in 2020 has created the potential for money laundering which will bring it under the radar of regulatory authorities. Since the beginning of the year, the dollar value of crypto collateral locked across DeFi platforms has increased over 1200% to reach $9 billion according to data provider DeFi…

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Germany-based gaming company releases RPG on the Litecoin blockchain

In an online event prepared by the Litecoin Foundation on Sept. 15, Litecoin (LTC) creator Charlie Lee and CipSoft CEO Stephan Vogler announced the release of LiteBringer, a role-playing fantasy game which runs on top of the Litecoin blockchain. “It’s the first major game that utilizes the Litecoin blockchain for all of its interactions,” Lee said. Vogler stated the game is fully decentralized, meaning all users have to be running a Litecoin node to play. He also noted that access is completely dependent on players having at least some Litecoin…

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Mad Money’s Jim Cramer ‘Fixated’ on Buying Bitcoin, Fears Massive Inflation

Jim Cramer, the Mad Money host and The Street co-founder, said he is “fixated” on needing to own bitcoin because he fears a “massive amount of inflation.” While he owns “so much gold,” he is adamant about leaving a bitcoin inheritance to his children. Jim Cramer to Regularly Buy Bitcoin Jim Cramer is the host of Mad Money on CNBC, a former hedge fund manager, and a co-founder of Thestreet.com, a financial news and literacy website. During a podcast interview with Morgan Creek Digital partner Anthony Pompliano (Pomp), published Monday,…

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First ICO mandating buyers to ‘use’ tokens is successful, collects $5M

A new way of conducting token sales spearheaded by ConsenSys Codefi achieved its first success, with the planned sale of Skale Network tokens collecting just over $5 million. As Cointelegraph reported in February, the Skale token sale was the first to be launched on the Activate platform developed by ConsenSys. Its purpose is to bootstrap new projects with an involved community that would perform the functions required of it, for example staking their tokens to secure the network. To do so, the platform developed the concept of Proof-of-Use. Upon delivery,…

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Blockchain gaming project seeks to go mainstream with new Matic Network migration

IGGalaxy is migrating away from Tron and onto the Matic Network. They hope that this move will allow their platform to go mainstream, while simultaneously avoiding what they referred to as “performance constraints of the Ethereum mainchain.” IGGalaxy’s incentive-based economy offers tokens to players in exchange for their participation in video games, video content, and eSports. Naeem Shabir, co-founder of IGGalaxy, explained that the move to Matic’s network will hopefully provide a more “seamless” user experience, and help the company to gain greater mainstream traction: “Leveraging Matic’s high throughput and…

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Bitcoin Revolution South Africa: Scam Claims Support by President Cyril Ramaphosa

A bitcoin investment scheme called “Bitcoin Revolution South Africa” has been gaining much attention lately. Promoters claim that famous South Africans endorse this platform, including mining billionaire Patrice Motsepe, comedian and actor Trevor Noah, and President Cyril Ramaphosa. Bitcoin Revolution Invades South Africa The South African version of the Bitcoin Revolution scheme, simply called “Bitcoin Revolution South Africa,” has recently been heavily promoted, with paid reviews on reputable websites such as the Associated Press News. Promoters of this scheme claim that the platform is endorsed by famous South Africans to…

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DApps can now send push notifications to Ethereum wallet users

An Indian startup has built a decentralized notification protocol dubbed Ethereum Push Notification Service (EPNS) allowing DApps to send push notifications to Ethereum wallet users. Speaking to Cointelegraph, EPNS founder Richa Joshi said that they developed the protocol after finding a striking similarity between how applications operated in the early days of the internet and how they operate on Web 3.0. She explained that Gmail or Orkut did not send notifications in their early days as they do now. Users would have to check back every time to see if…

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Eastern Europe’s sixth-largest crypto service is a darknet market

Blockchain forensics firm Chainalysis has found that darknet markets exert a disproportionate presence in Eastern Europe’s crypto sector. In an excerpt from Chainalysis’ 2020 Geography of Cryptocurrency Report, the firm asserts that Eastern Europe is responsible for “more global darknet market activity than any other region,” with the anonymous free market Hydra comprising the region’s sixth-largest crypto service. Regional shares of global darknet market transfer volume: Chainalysis The report estimates that Hydra generated more than $1.2 billion in crypto revenue between June 2019 and July 2020. The platform is among…

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