US Financial Regulator Warns Against Strict Cryptocurrency Rules

Cryptocurrencies are prevalent in South Africa and gaining traction as an option on the internet currency. This write-up, thus, illustrates the use of cryptocurrency in the facilitation of criminal activity via the review of current literature. Lastly, an exposition of the crimes is presented in order to demonstrate how cryptocurrencies can be used as a tool and target in the facilitation of cybercrime. Concomitantly, cryptocurrencies are also establishing themselves as an best currency for cybercriminals due to their unregulated and pseudo-anonymous nature. Cryptocurrencies can be employed either as a tool or target in the facilitation of cybercrimes, which includes cyber dollars laundering, cyber extortion, phishing, hacking, cyber fraud and other monetary crimes such as Ponzi and investment scams. Given the very technical, decentralised and as a result complicated nature of cryptocurrencies, it is crucial for criminologists to have a standard understanding of the modus operandi applied in ‘cryptocurrency crime’. This report starts with a brief discussion on the history of cryptocurrencies. The technical underpinnings of a cryptocurrency are thereafter explained in order to contextualise their use in the facilitation of cybercrime.

CryptocurrencySome of the participants in this debate have appreciated the function of cryptocurrencies for instance, Kim (2017) argued that the simpler infrastructure and lower transaction cost of Bitcoin are benefits compared to retail foreign exchange markets. Similarly, Bouri et al. 2017) located that the Bitcoin acts as a hedge against uncertainty, although Dyhrberg (2016, 2016b) declared it a great hedge against stocks, the US dollar, and gold, and argued that it can be included in the selection of tools readily available to marketplace analysts to hedge industry precise risk1. Financial innovation has been an critical platform for the debate and implications of blockchain technologies and cryptocurrencies (for instance, see the particular challenge on blockchain)2. The emergence of cryptocurrencies has essential implications for the global economy in common and emerging economies in unique. Furthermore, the threat to Bitcoin technologies can also be minimized and concomitantly, cryptocurrencies have an crucial part to play in emerging economies. For instance, a study by Carrick (2016) argued that Bitcoin and cryptocurrencies have idiosyncratic attributes that make them appropriate and complementary to the currencies of emerging markets.

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The HZN community can make synthetic assets that are tradeable across different blockchains thanks to the platform’s collateralization ratio function. As we enter a new era of improved DeFi systems and synthetic asset creation, this listing really should permit a lot more folks to access HZN and be element of Horizon Protocol’s distinctive future – where you can appreciate unlimited trading involving crypto-assets and true-planet assets with no any liquidity challenges. With Horizon Protocol launched on BSC, customers will delight in cross-chain operability on platforms such as Cosmos, NEO, and Tendermint. The listing of HZN on DigiFinex will enable take Horizon Protocol’s attain to new levels. Access to cross-chain crypto derivatives that are backed by the HZN. HZN stakers will be involved in the governance of Horizon Protocol. The zAsset prices are defined by value feeds from real-world DeFi oracles such as Phoenix DeFi Oracle, Chainlink, and Band Protocol. The Phoenix DeFi Oracle will let users to also utilize the PHB token on the Horizon ecosystem. Customers on the HZN ecosystem will also be able to access classic financial markets, like equities, corporate assets, market place indices, and commodities.

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