EncryptoTel’s weekly digest (21.10.19)
Hard choice for TON investors, fintech is rushing forward, farewell anonymity in the crypto space.
Telegram offers TON investors a 77% return of funds or transfer
The Telegram team, headed by Pavel Durov, throws TON investors a hard choice — either agree to postpone the launch of the platform and Gram cryptocurrency for 5 months, or take back the investment, but only 77% of it. Recall that a week earlier, the US Securities and Exchange Commission (SEC) announced a lawsuit against TON ICO and two companies affiliated with Telegram. The messenger itself insists that Gram is a cryptocurrency, not a security.
“We were planning to launch the TON network in October, but the SEC lawsuit made this impossible,” said a letter to investors sent on October 16.
Investors will have to make their choice by October 23, the day before the meeting of Telegram lawyers with the SEC representatives. Recall that formally, the decision of the American regulator falls within the TON investors agreement as force majeure.
Huawei is under 1 million cyber attacks every day
There is a real war in the world, but few people know about it. Huawei Senior Vice President John Suffolk said that Huawei is exposed to approximately 1 million cyber attacks every day, with sources both within China and beyond. According to Huawei, American intelligence agencies are among the attackers. So, last month, Huawei accused the US Presidential Administration of ordering a cyber attack on Huawei, whose goal was to “penetrate Huawei’s intranet and internal information systems.”
It is curious that the United States accuses Huawei for spying and claims that backdoors may be contained in Chinese-made telecommunications equipment. That is why the United States is urging its allies to abandon Huawei equipment for 5G.
Report: fintech sector moved to the fourth stage of development
The Dealroom analytical company published a study on the European fintech market. According to company analysts, the fourth wave of the development of fintech startups, which began in 2015, is now underway. The growth drivers are technologies such as the Internet of Things (IoT), artificial intelligence (AI) and blockchain.
Fintech is the largest category in terms of venture capital investments in Europe. It accounts for 20% of all venture capital investments. This share is higher than similar indicators in the USA (11%) and Asia (17%).
Bermuda is the first country in the world to pay taxes with cryptocurrency
The authorities of the Caribbean offshore are ready to accept stablecoins of the American Circle holding as payment for taxes, which rate is tied to the price of the American dollar. Thus, Bermuda will become the first jurisdiction in the world that allows you to pay taxes using cryptocurrency. The decision was made as part of an initiative to use “decentralized financial protocols and services”.
USD Coin (USDC) was launched by Circle Holding in September 2018. Now stablecoin takes 24th place by capitalization ($ 480 million). Circle is also the owner of the Poloniex crypto exchange. In July 2019, the holding announced the transfer of most of the operating activities of the Poloniex exchange to Bermuda, explaining its decision with regulatory tensions in the United States.
Study: over 80% of crypto transactions are traceable
Cybersecurity firm CipherTrace announced the successful development of tools to track 87% of global cryptocurrency transactions. CipherTrace tracked 700 cryptocurrencies, including LTC, USDT, BCH, ETH, BTC and ERC20 tokens. CipherTrace solutions allow you to monitor cash flows in cryptocurrencies and determine their possible connection with fraudulent activities.
Various government agencies use the CipherTrace platform, including the United States Drug Enforcement Administration (DEA) and the Federal Bureau of Investigation (FBI). In September 2019, CipherTrace launched a mobile application that allows you to determine whether certain coins are connected with criminal activity.
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