Crypto rules in USA, Open Interest at ATH and Bitcoin Lightning Network faces security vulnerabilities
US Financial Crimes Watchdog Preparing ‘Significant’ Crypto Rules
The U.S. Treasury Department’s Financial Crimes Enforcement Network (FinCEN) is preparing to unveil new regulations around cryptocurrencies, Treasury Secretary Steven Mnuchin said Wednesday.
Coindesk reported about the hearing from Mnuchin before the Senate Finance Committee. He speeched that the FinCEN is preparing to roll out some ‘significant new requirement’ for people involved in cryptocurrencies, though he did not provide any further details.
“We want to make sure that technology moves forward but, on the other hand, we want to make sure that cryptocurrencies aren’t used for the equivalent of old Swiss secret number bank accounts.”
Open interest for Bitcoin futures surpasses $5 billion
Aggregated open interest (OI) for Bitcoin futures surpassed $5 billion for the first time in the history of Bitcoin, according to data compiled by The Block.
Open interest refers to the value of outstanding futures contracts that have not been settled yet. An increase in open interest signals that more money is flowing into the market and that traders are anticipating a near-term rise in the underlying volatility.
Bitcoin Lightning Network faces vulnerabilities
A team of researchers, led by Christian Decker from Blockstream, have found various vulnerabilities on the network after a formal security audit in September last year.
The paper presented two kinds of attacks — probing attacks and timing attacks.
A probing attack was described as when the malicious actor, through active probing, attempts to determine the maximum amount which can be transferred over a connected target channel.
A timing attack takes place when the hacker tries to find out how close the destination of a routed payment actually is.
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