US senate bill S.1241 to criminalize concealed ownership of bitcoin

On November 28, 2017, the US Senate, Committee of the Judiciary held a hearing regarding bill S.1241: Modernizing AML Laws to Combat Money Laundering and Terrorist Financing. Despite little attention being given to digital currencies during the hearing, bill S.1241 itself would amend the definition of ‘financial institution’ in the United States Code to include […]

The rise of Bitcoin and the demise of central authority

In their article, ‘the rise of Bitcoin doesn’t mean the end of banks. Here’s why,’ Dirk Baur and Niels Van Quaquebeke argue that cryptocurrencies are not trustless systems but merely require the transfer of trust to a different system. They claim that “While we previously had to trust financial institutions to verify transactions, with the […]

Russian billionaires jump on crypto-train prior to introduction of CryptoRuble

Alexander Abramov, Roman Abramovich, Roman Trotsenko, and Igor Rybakov are among the many Russian billionaires who are jumping on the crypto-train, prior to the upcoming introduction of the first state-backed cryptocurrency, the CryptoRuble. This should not come as a surprise.

The state vs. free-market crypto-vigilantes

Throughout the evolution of cryptocurrencies, there have already been many winners and losers; and there are sure to be many more, as thousands of layer-two protocols, digital currencies, exchanges, marketplaces, and ICOs all compete for their place in the volatile crypto-space. But perhaps it’s the largest and most powerful Government States that stand to lose […]