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Preventing Crypto Terrorism Financing From Spreading

Preventing crypto terrorism is a bit more complicated than it sounds. This is mainly due to the fact that many governments are still

The post Preventing Crypto Terrorism Financing From Spreading appeared first on CoinStaker | Bitcoin News.

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One of the biggest threats of our time is terrorism. This plague upon the modern world comes in many shapes and forms. Crypto terrorism is something relatively new and it’s something which should be looked at very seriously.

Some people believe that governments and government agencies are funding terrorist organizations around the globe. Whether or not you share these believes is not important. These organizations are enemies of humanity and whatever a person’s views on the government are, the main priority should be wiping them off the face of the Earth. Stopping them from acquiring funds is something, which any anti or pro government citizen should focus on.

According to the official press release of the United States House of Representatives Financial Services Committee on September 7th, the United States Congress Subcommittee on Terrorism and Illicit Finance has discussed terrorism funding via cryptocurrencies.

The hearing considered major means of fund transfers by terrorists, including traditional financial institutions. This also included semi-formal methods like the hawala exchange system and crypto terrorism.

Crypto terrorism is highly valued, but fortunately not successful in terrorist organizations

The meeting concluded that ISIS and Al-Qaeda in particular had major aspirations towards fundraising via crypto. Their attempts however, were largely unsuccessful.

According to Yaya Fanusie, the director of analysis for the Foundation for Defense of Demcracies (FDD), jihadists don’t have access to crypto. The majority of ISIS fighters live on battlefields, which offer no real chance to use cryptocurrencies and fiat is largely preferred. He also pointed out that anonymity is highly valued when it comes to funding terrorism. This is why fiat is the most popular and anonymous means of funding.

Fanusie also mentioned that there have been multiple examples of crypto funding campaigns to no avail. He emphasized on the importance of United States government bodies, which are responsible for finance investigation to be better prepared when it comes to crypto transactions. This will further eliminate the potential success of terrorist crypto funding campaigns.

This is not the first bill this year, which was aimed at crypto terrorism. On January 10th, Rep. Tedd Budd (R-NC) of the House Financial Services Committee introduced a bill aiming to fight terrorism via rewards. The bill proposed that any information, which will lead to convictions of crypto or crypto-supported terrorism, should be rewarded.

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The post Preventing Crypto Terrorism Financing From Spreading appeared first on CoinStaker | Bitcoin News.

Source: https://www.coinstaker.com/preventing-crypto-terrorism-financing-from-spreading/

Blockchain

TA: Ethereum Approaches Key Breakout, Why $600 Holds The Key

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Ethereum found support above $580 and corrected higher against the US Dollar. ETH price is facing a strong resistance near the $600 and $602 levels.

  • Ethereum started a decent recovery wave above the $585 and $590 levels.
  • The price is approaching the $600 barrier and it is above the 100 hourly simple moving average.
  • There is a key contracting triangle forming with resistance near $600 on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair could gain bullish momentum if there is a clear close above the $600 and $602 levels.

Ethereum Price is Showing Positive Signs

After a downside reaction, Ethereum started a recovery wave above the $580 level. ETH price also remained stable the $585 level and the 100 hourly simple moving average.

The price is currently stuck in a range below $600 (similar to bitcoin) and it seems to be preparing for the next move. The last swing low was formed near the $565 level before the price recovered above the 23.6% Fib retracement level of the key downward move from the $636 high to $565 low.

Ether is currently approaching the $600 barrier and it is above the 100 hourly simple moving average. There is also a key contracting triangle forming with resistance near $600 on the hourly chart of ETH/USD.

Ethereum Price

The triangle resistance coincides with the 50% Fib retracement level of the key downward move from the $636 high to $565 low. A successful close above the $600 and $602 resistance levels could open the doors for a sharp increase.

The next key resistance is at $610, above which the price may even clear $620. Any more gains will most likely call for a new yearly high above $636.

Downside Break in ETH?

If ethereum fails to clear the triangle resistance and $602, there is a risk of a fresh decline. An initial support is near the $590 level and the triangle lower trend line.

A downside break below the triangle support might push the price towards the $585 support and the 100 hourly simple moving average. Any more losses may possibly set the pace for a fresh decline towards the $565 swing low in the coming sessions. An intermediate support sits near the $570 level.

Technical Indicators

Hourly MACDThe MACD for ETH/USD is slowly gaining momentum in the bearish zone.

Hourly RSIThe RSI for ETH/USD is currently well below the 50 level.

Major Support Level – $570

Major Resistance Level – $600

Source: https://www.newsbtc.com/analysis/eth/ethereum-breakout-600-holds-the-key/

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NativeCoin Returns to Exploring the Block

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Jeff Johnson (COO, NativeCoin) and Kyle Istvanditsch (CEO, Global Force IOT) visit Exploring the Block to discuss the latest developments with NativeCoin.

NativeCoin (N8V) was designed to meet the transactional needs of tribal enterprises, casinos, resorts, and betting operations in both brick-and-mortar locations as well as online gaming platforms. NativeCoin is not exclusively intended for Tribal use. NativeCoin can also be used by private businesses, international shippers, and for private transactions.

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Exploring the Block profiles Blockchain Technologies and Companies. Exploring the Block produces multi-part series following the goals and achievements of the companies we follow and invite our audience to track the growth and challenges these companies face. Each series provides personal look at the company through the eyes of the CEO or company executive as they discuss their goals, roots and products with our experienced team of anchors/journalists to provide our viewing audience with who, what, where, when and why about the companies you want to learn about.

New To The Street profiles public companies, advertises and markets their products and services, and provides business news. New To The Street paves the way to the latest financial issues, offering a blend of business and financial services news reporting and in-depth interviews relating to new products, economic analysis and public company profiles. New to the Street is produced by FMW Media Works Corp.

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FMW Media Corp. operates one of the longest-running U.S and International sponsored programming T.V. brands “NewToTheStreet,” and its blockchain show “Exploring The Block.” Since 2009, these brands run shows across major U.S. Television networks. These TV platforms reach over 540 million homes both in US and international markets. Developing 2-additional shows “TheBestinNY” and “The Ultimate Listing,”

Source: https://exploringtheblock.com/nativecoin-returns-to-exploring-the-block/

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TrustToken and Syscoin Partner on a Stablecoin Bridge

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Decentralized marketplace and e-commerce protocol Syscoin has partnered with the stablecoin platform TrustToken.

The goal of the collaboration is to speed up payments and to provide further solutions to Ethereum’s blockchain. It also means that the five stablecoins of TrustToken, namely TUSD, TGBP, THKD, TCAD, and TAUD, will run on Syscoin’s blockchain and be available for users.

A Collaboration Between Syscoin and TrustToken

According to a release shared with CryptoPotato, the popular decentralized marketplace and e-commerce protocol Syscoin has teamed up with stablecoin platform TrustToken.

Right off the bat, this means that the stablecoins provided by the platform will now run on Syscoin’s blockchain as well. These are TUSD, TGBP, THKD, TCAD, and TAUD.

Stablecoins have grown in popularity over the past few months, mainly because of the DeFi boom, where they are used to enable staking, liquidity provision, and so forth. However, there was also an obvious challenge with all of it – scaling. Supposedly, Syscoin is intended to help with that. Using Z-DAG (Zero Confirmation Directed Acyclic Graph), the protocol claims to be able to settle transactions in less than 10 seconds with comparatively low fees.

The partnership will also enable users to mine two cryptocurrencies at the same time – SYS and BTC.

Distribution of the Roles

While Syscoin’s task would be scalability, TrustToken comes in for the stablecoin part. It’s a platform that aims at an open financial system through a selection of stablecoins.

The stablecoins it offers are collateralized, and it has also partnered with Chainlink, as well as other protocols.

The overall partnership is aimed at creating a solution for scalable and secure token payments at a lower risk interoperability with Ethereum’s network. It should make TrustToken’s stablecoins function quicker and cheaper following the enabling of the bridge.

Speaking on the matter was Syscoin’s Foundation Chairman Jag Sidhu, who said:

“Digital assets have growing needs for better usability, robust decentralized security, and a scalable way of ensuring every transaction complies with regulations. Syscoin uniquely aligns with all of these requirements. We look forward to TrustToken’s family of stablecoins becoming future-proof and gaining significant advantage with Syscoin.”

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Source: https://cryptopotato.com/trusttoken-and-syscoin-partner-on-a-stablecoin-bridge/

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