Bitcoin Donation(s) to Defend Privacy, AMT’s used for Illicit Purposes and Crypto Card stopped working
Wasabi Wallet Donates 1 BTC to Defend Privacy in Bitcoin
Wasabi Wallet donates 1 BTC to the Bitcoin Development Fund from the Human Rights Foundation (HRF). The fund is originated to protect users’ right to privacy.
Your financial transactions say a lot about where you’ve been, what you were doing, and what you intended to do — making them a perfect way to surveil you.
In a blogpost they explain more about this donation. Last month, the HRF donated their fund to Chris Belcher. This Britain developer proposed CoinSwaps, a new method to increase privacy for on-chain transactions.
Bitcoin ATMs Are Being Used for Illicit Purposes
In the first five months of 2020, crypto thefts, hacks, and frauds totaled $1.36 billion, according to a research paper from Cipher Trace.
In a trend that continues from last year, fraud and misappropriation still make up most of the year’s stolen crypto compared to hacks and thefts.
The report also says that a lot of Bitcoin ATM’s are being used to send money to high-risk exchanges, which suggests that perhaps money laundering is a relatively common occurrence.
Most of the money garnered through ATMs — roughly 88 percent — is being stored in offshore accounts.
Bitcoin ATMs are likely to be the next major regulatory target. The percentage of funds sent to high-risk exchanges from U.S. BATMs [bitcoin ATMs] has seen exponential growth, doubling every year since 2017.
Crypto debit cards stopped working, but restriction is lifted
Crypto.com’s MCO Visa debit cards stopped working for a couple of days after the U.K.’s Financial Conduct Authority (FCA) suspended Wirecard Card Solutions (WCS).
Tthe German-based online payment processor Wirecard was unable to locate over $2.1 billion of company funds
Since Wirecard Card Solutions issue cryptocurrency debit cards for TenX and Crypto.com, both companies published statements ensuring that customers’ funds are safe, but some operations could be affected.
Since yesterday the watchdog published an update towards the consumers who use Wirecard. Luckily for them, the restrictions will be lifted.
This means customers will now, or very shortly, be able to use their cards as usual.
Crypto.com and TenX provide the excange between cryptocurrencies and fiat money once users want to shop with cryptocoins.
Give us a call on +31 85 2250 510 or email us at firstname.lastname@example.org. Our members of staff are available between 9.00–18.00 CET to answer any questions you may have, especially in regards to easily selling your crypto for fiat currencies.