China warns companies that claim to use blockchain
A report published by the Focus Agency reports that only 10% of Chinese companies use blockchain technology. Currently, there are 32,000 companies claiming to use the technology, but apparently most of them make false claims.
The report points out that, for the most part, using the blockchain concept is a way to attract customers.
Data collected by the National Emergency Internet Center of China (CNCERT) shows that there are over 755 tokens on the market that are not supported by real initiatives. The center also identified 102 tokens that are actually Ponzi schemes.
“We should make strong efforts for blockchain technology applications in commercial finance, public services and other fields, but we should not allow fraud or money laundering on behalf of the blockchain,”
is shown in the report.
UK: Cryptocurrencies are properties
A report published by the UK Law Jurisdiction Panel classifies digital assets as property. The statement was published by The Times and states:
“Crypto-assets, including, but not limited to, digital currencies, can in principle be treated as property. Smart contracts are capable of meeting the requirements of English law contracts and can therefore be used in court. ”
The panel was created to clarify the legal status of crypto assets in the UK and consists of legal experts and judges.
High court judge Sir Geoffrey Vos, who heads the UK Law Jurisdiction Panel, also emphasized “
“There is a need to discuss how they are regulated. A clear distinction must be made between the concept of crypto-assets as property, on the one hand and the way in which they are regulated, on the other. “
George W. Bush’s brother, involved in the Ponzi OneCoin scheme
The brother of the former US president was associated with the Ponzi OneCoin scheme. Apparently, he would have received $ 300,000 to attend a meeting with the founder of the scam, Ruja Ignatova.
The information was published in an FBI report on OneCoin participants.
Neil Bush’s lawyer has been heard in the lawsuit against lawyer Mark Scott, accused of laundering money in favor of OneCoin.
Apparently, Ignatova used this meeting, which was also attended by a Chinese businessman, to give legitimacy to the Ponzi scheme.
So far, Ignatova has not been found, but her brother is under arrest in the United States and is working with authorities.
Mimblewimble privacy technology has been canceled
Mimblewimble privacy technology used by cryptocurrencies such as Beam and Grin has been compromised. Researcher Ivan Bogatyy published a report documenting his results.
The report reveals that he managed to de-anonymize 96% of all transactions running a single node at a cost of about $ 60. Bogatyy claims the defect is fatal, destroying the effectiveness of Mimblewimble.
In his attack, the researcher managed to detect the addresses used in the transactions, although he did not identify the amounts transmitted.
Grin developer David Burkett praised the quality of the research in Bogaty’s report, but added:
“None of this is new. I am actually surprised that only 96% of transactions were identified. As I’ve always said, don’t use Grin if you need privacy – it still doesn’t exist. “
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