Oklahoma Senator Working on Bill for State-Backed Blockchain Institution

Oklahoma Senator Working on Bill for State-Backed Blockchain Institution 1  PASSIVE INCOME CRYPTO BITCOIN AND BLOCKCHAIN

Oklahoma senator Nathan Dahm wrote a new bill for his state which looks to build a state-backed innovative financial institution around blockchain technology, establishing a new classification of institutions. Dated Jan. 15, 2020, the bill noted that the state-chartered financial institution will be “the central depository for virtual currency used by governmental agencies in this state.” Detailing the bill Adding further details, the text explained the movement essentially will prevent regulatory stifling, allowing innovation to grow, while also protecting citizens. The document noted: “The purpose of this new state-chartered financial…

Ex-NFL Team Owner Intends to Plead Guilty to Running Unlicensed Money Transmitter

Ex-NFL Team Owner Intends to Plead Guilty to Running Unlicensed Money Transmitter 2  PASSIVE INCOME CRYPTO BITCOIN AND BLOCKCHAIN

Former “shadow banker” Reginald Fowler intends to plead guilty to charges of operating an unlicensed money transmission business during a court hearing Friday. In a hearing before the Southern District of New York, Fowler, a former co-owner of the National Football League’s Minnesota Vikings, changed his original plea from not guilty, essentially admitting to providing exchanges with banking services through his alleged operations with Crypto Capital, a payment processor that served exchanges including Bitfinex, QuadrigaCX and CEX.io.  While Fowler intends to plead guilty, the prosecution and defense must first come…

Winklevoss-Led Gemini Exchange Now Has Its Own Insurance Company

Winklevoss-Led Gemini Exchange Now Has Its Own Insurance Company 3  PASSIVE INCOME CRYPTO BITCOIN AND BLOCKCHAIN

Gemini, the crypto exchange founded by Cameron and Tyler Winklevoss, has created its own insurance company to protect clients against the potential loss of coins from its offline vaults – with a possibly record-breaking $200 million coverage limit. Announced Thursday, the new “captive” will provide insurance for customers of Gemini Custody, the crypto cold storage service of Gemini Trust Company. Typically, cold storage policies cover losses due to insider thefts and collusion, as well as the destruction of private keys by natural disasters like floods, earthquakes and so on. Cold…

The FBI Is Now Reaching Out to QuadrigaCX Victims

The FBI Is Now Reaching Out to QuadrigaCX Victims 5  PASSIVE INCOME CRYPTO BITCOIN AND BLOCKCHAIN

According to an email sent to multiple users of the exchange and shared with CoinDesk, Valerie Gauthier, a victim specialist with the FBI, has been reaching out to former users of the exchange to alert them of a new portal containing information about the case, confirming that the investigation continues. “A criminal investigation can be a lengthy undertaking, and, for several reasons, we cannot tell you about its progress at its time,” Gauthier wrote. Victims can contact the FBI at quadrigavictims@fbi.gov, though “inquiries about the status of the case will…

Is Bitcoin in 2020 Really Like the Early Internet?

Is Bitcoin in 2020 Really Like the Early Internet? 6  PASSIVE INCOME CRYPTO BITCOIN AND BLOCKCHAIN

It’s a cliche at this point to compare bitcoin to the “early days of the internet,” since they are both examples of emerging technologies. But does the cliche actually hold true? If we work with a vague definition of the World Wide Web going live in 1991, then within the first decade that ecosystem grew faster and had more demand for compliant use cases than bitcoin arguably has today, one decade in. In 1994, the New York Times reported that companies were “rushing” to set up shop via the World…

SEC Seeks $16M From ICOBox for Unregistered Token Sale

SEC Seeks $16M From ICOBox for Unregistered Token Sale 9  PASSIVE INCOME CRYPTO BITCOIN AND BLOCKCHAIN

The U.S. Securities and Exchange Commission (SEC) is seeking more than $16 million in penalties from ICOBox for selling “ICOS” tokens as unregistered securities. According to a filing in the United States District Court for the Central District of California, the SEC seeks a default judgment against Cayman Islands-based ICOBox and founder and CEO Nikolay Evdokimov, asking the judge to approve penalties as well as a lifetime ban from marketing or selling securities in the U.S. The regulator also wants Evdokimov to pay a separate civil penalty of just under…

Want to Learn About Bitcoin? Try Conference-Driven Development

Want to Learn About Bitcoin? Try Conference-Driven Development 10  PASSIVE INCOME CRYPTO BITCOIN AND BLOCKCHAIN

Continuing our series on how to learn about Bitcoin and its more technical aspects, in this article, we will focus on presenting at conferences and meetups as a means to this end. On the Ladybug podcast, Ali Spittel coined the term “conference-driven development.” Aspiring Bitcoin savants can pursue this sort of development by taking on the responsibility of presenting at a conference on a subject matter that lies outside their current area of expertise.  The Ladybug podcast hosts discussed their experiences with “conference-driven development” preparing and delivering presentations on as…

Buy or DIY? An Overview of 7 Bitcoin Full Node Products

Buy or DIY? An Overview of 7 Bitcoin Full Node Products 11  PASSIVE INCOME CRYPTO BITCOIN AND BLOCKCHAIN

Full nodes are an indispensable part of Bitcoin’s system of checks and balances. They further decentralize the network, they keep miners honest, they verify and register every transaction that takes place on the blockchain, and they provide more autonomy and privacy to users. In order to run a full Bitcoin node, it’s enough to download the Bitcoin Core client on your computer and wait for the initial block download (IBD) to complete. However, some individuals may find that process cumbersome and unnecessarily time consuming. Consequently, companies have developed solutions that…

North Korean Hackers Now Using Telegram to Steal Crypto: Kaspersky

North Korean Hackers Now Using Telegram to Steal Crypto: Kaspersky 12  PASSIVE INCOME CRYPTO BITCOIN AND BLOCKCHAIN

A cybersecurity firm has warned cryptocurrency users to expect more attacks from North Korea as its hackers develop “enhanced capabilities” to deliver malware through popular messaging app Telegram. Moscow-based Kaspersky Labs has been analyzing new attacks from the Lazarus Group, a cybercrime group with links to North Korea, to determine how its techniques have developed since the AppleJesus attack on several cryptocurrency exchanges in 2018. In research published Wednessday, the cybersecurity firm said there have been “significant changes to the group’s attack methodology.” One case study involved what appeared to…