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Task Force Pushes Biden Administration to Tighten Cryptocurrency Regulation

A public-private task force has submitted a report to the Biden administration that includes recommendations to tighten the regulation of cryptocurrencies, including bitcoin, with the aim to combat ransomware. “The cryptocurrency sector that enables ransomware crime should be more closely regulated,” the task force wrote. White House Urged to Tighten Crypto Regulation A task force, organized by the Institute for Security and Technology, submitted a report entitled “Combating Ransomware” to the Biden administration Thursday with 48 recommendations, some of which aim at tightening crypto regulation. The recommendations were developed by the Ransomware Task Force (RTF), which the report describes as…

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Dash should not be considered a privacy coin, Dash team says

What a statement from a coin whose white paper originally proclaimed it as “a privacy-centric cryptographic currency." Once viewed as one of the crypto industry's top privacy-focused assets, Dash (DASH) no longer operates under that classification, according to the Dash Core Group, the body overseeing the asset and its development.  When asked if Dash should remain under the category of a privacy asset, Fernando Gutierrez, CMO for the Dash Core Group, told Cointelegraph:  "No, Dash is a payments cryptocurrency, with a strong focus on usability, which includes speed, cost, ease of use, and user protection through optional privacy." Dash launched as a…

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‘You Are Not Anonymous on Tor’ – Study Shows Privacy Network Offers Superficial Anonymity

Privacy advocates are growing leery of the Tor network these days, as recently published research has shown a great number of network’s exit relays are compromised. Furthermore, on September 15, the Hacker Factor Blog published a new Tor report that shows IP addresses being uncovered. The paper called “Tor 0-day” says that it is an open secret among the internet service community: “You are not anonymous on Tor.” For years now, a great number of digital currency proponents have utilized Tor and virtual private networks (VPNs) to stay anonymous while sending bitcoin transactions. The Tor Project was released 17 years…

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The company behind Zcash just made its new source code public

The implementation of this technology promises to remove the need for trusted setups. The Electric Coin Co., or ECC, the entity responsible for the advancement of privacy coin Zcash (ZEC), unveiled new code for the blockchain and crypto community. The company opened its Halo 2 source code — "an updated, more efficient version of ECC’s recursive proof composition that eliminates the need for a trusted setup in Zcash," said a Sept. 1 blog post from the ECC. "It may also advance a promising scalability solution for Zcash and other blockchains," the post added, noting the Halo structure adds speed, among other…

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Ciphertrace Allegedly Builds Monero-Tracing Tools, XMR Proponents Disagree

The blockchain surveillance firm Ciphertrace claims to have created the “world’s first” monero tracing tools for law enforcement. According to the company announcement, Ciphertrace developed forensic tools for the U.S. Department of Homeland Security (DHS) in order to track illicit monero transactions. Despite the firm’s claims, there is zero evidence provided that prove the company actually has such tools. Since the open-source cryptocurrency was first invoked in 2014, the Monero (XMR) project has been heralded for privacy-centric techniques. The digital asset network uses enforced privacy for all transactions by leveraging concepts like ring signatures, bulletproofs, and stealth (one-time) addresses. Due…

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Expert weighs in on Wasabi’s response to wallet security issues

Mario Havel of Paralelni Polis has sided with Samourai. Although the privacy-focused Bitcoin (BTC) wallet Wasabi Wallet recently dismissed allegations that its anonymity features may be compromised, a third-party expert disagrees.In an August 19 blog post, Wasabi competitor Samourai claimed to have “discovered two potential privacy vulnerabilities in the Wasabi Wallet software.” Per the announcement, the company also found numerous issues with the anonymity of Wasabi Wallet’s CoinJoin Bitcoin mixer.Mário Havel, co-founder of crypto-and-privacy non-profit Paralelni Polis, said that Samourai’s allegations seem credible and can be verified in Wasabi’s code. He explained:“Disclosed vulnerabilities [...] are not affecting the security of…

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John McAfee Has Left His Own Privacy Asset Project

Some might say he's given up the $Ghost. Technology pioneer and cryptocurrency advocate John McAfee has just announced his departure from his own privacy asset project, Ghost. "I am abandoning the the Ghost project," he said in an Aug. 19 tweet. "Management is incapable of making a success of the project," he explained, adding, "It will, without a doubt fail." He elaborated:"I tried to explain the fundamental principles of management, but they fell on deaf ears. My apologies to those that I led astray. Sorry."McAfee has bashed Bitcoin in recent months for its lack of privacy. The tech expert set out to make…

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Centralized Exchanges’ KYC Compulsions Attributing to Ballooning DEX Trading Volume

Tightening government regulations are forcing centralized exchanges like BitMEX to comply with user identification protocols. Traders looking for anonymous trading are flocking to decentralized exchanges (DEXes) leading to increasing volume. Robust ID Verification Coming to BitMEX According to a press release issued by BitMEX on Friday (August 14, 2020), the crypto derivatives giant will beginRead MoreRead More. The post by Osato Avan-Nomayo appeared first on BTCManager, Bitcoin, Blockchain & Cryptocurrency News

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Bitcoin Users Leery of Tor: 23% of the Network’s Exit Capacity Compromised

Hackers are stealing bitcoin through the large-scale use of malicious relays on the Tor network according to a newly published research report on the subject. The researcher dubbed “nusenu” said he warned people about the growing problem in December 2019 but instead of improving Tor exit relay activity “things have become even worse,” he stressed. Malicious entities have made visitors of the anonymous communications protocol the Tor network vulnerable to attacks. Tor is a browser and open-source software that directs a person’s web traffic in an obfuscated fashion in order to circumvent traffic analysis and network surveillance. A great number…

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Russia’s New Crypto Analytics System to Track Dash and Monero

Dubbed “Transparent Blockchain,” Russia’s new crypto analytics system is designed to fight illicit activity related to crypto. A major financial watchdog in Russia is developing a new cryptocurrency analytics tool to trace major cryptos like Bitcoin (BTC) and privacy coins.Russia’s Federal Financial Monitoring Service, a federal service combating money laundering and terrorist financing, is reportedly planning to build a new analytics platform for tracking cryptocurrency transactions via artificial intelligence, or AI.Dubbed “Transparent Blockchain,” the new system is designed to track the movement of digital financial assets and identify crypto service providers to fight illicit activity related to digital assets, local…

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