The social networks that adopt cryptocurrencies must pay attention to AML

FinCEN: The social networks that adopt cryptocurrencies must pay attention to AML rules

The Deputy Director of FinCEN has warned the social networks that adopt cryptocurrencies regarding the risks of criminal exploitation. The statements were made during a conference on the topic of money laundering prevention.

Although he did not explicitly mention the cryptocurrency Libra, the remarks seem to be dedicated to this project:

“Social media and messaging platforms and others, which are now focused on creating cryptocurrencies, should not lose sight of the fact that they can encourage illegal transactions.”

He noted that these “new payment technologies” must meet the same AML standards as existing financial institutions.

“We will judge emerging financial institutions if and how their resilient systems are doing. Also, we will monitor them regarding the risks of money laundering, financing of terrorism, evading sanctions, trafficking in persons and narcotics and other illicit activities ”.

Changpeng Zhao announces a new product called Binance Cloud

At a Q&A session on Feb. 7, Binance CEO Changpeng Zhao announced the company’s future plans. One of these seems to be a new product called Binance Cloud, which will be unveiled in the next 10 days. CZ has not yet provided concrete details.

https://t.co/34rN2m5wIZ

– CZ Binance ??? (@cz_binance) February 7, 2020

The company is currently advertising for a Senior Cloud Engineer to join the Cloud Engineering and Architecture team.

The position describes “a large, massive, highly available parallel computing system available on the advanced Cloud Computing platform” and needs someone who “can improve, scale, and automate this critical Cloud-based architecture.”

Elon Musk’s Starlink satellite internet project could be listed

SpaceX director said at an investor meeting that the Starlink project would be “the ideal deal for an IPO”. The information was reported by Bloomberg and confirmed by CNN Business.

SpaceX is currently working on launching hundreds of satellites that could offer broadband internet customers. Through the Starlink project, the company launched the fourth batch of satellites last week and the plan is for the network to reach 1,500 satellites this year. The concept is to provide internet coverage across the globe.

Such a service could bring billions of dollars in annual revenue. Elon Musk owns about 54% of SpaceX, the equivalent of about $ 18 billion. A Starlink IPO could propel him among the world’s richest people.

For the moment, however, SpaceX representatives have not provided any concrete information regarding an IPO plan.

We scam what is used by the Coindesk brand to decrypt crypto projects

The Coindesk news platform warned that a number of scammers are using the brand name to deceive crypto start-ups. This is a series of emails claiming to come from CoinDesk reporters and publishers, who promise to publish projects in exchange for a fee.

At least two different victims have paid hundreds of dollars in bitcoin and ether to these scammers. Coindesk warns that it does not carry out such activities and does not ask for money to promote the projects.

Those who have received such messages are asked to send them to [email protected]