1. The Government of Iran Plans to Evade US Sanctions with Cryptocurrency
Iran’s Islamic Revolutionary Guard Corps general, Saeed Muhammed has enjoined the Iranian government to use cryptocurrency and Blockchain Technology to evade the economic sanctions placed on Iran by the United States.
The sanction placed by the Trump administration has caused the Iranian Rial to reduce in value. This sanction has also isolated the country from foreign investment and trade. Bitcoin is one of the few ways to get money inside and outside the country.
Recently, 1000 crypto mining licenses were given to local miners by the Ministry of Industries, Mining, and Trade. All these actions are in a bid to promote cryptocurrency in the country.
Evaluation: Good
Source: Cointelegraph
2. A Ukrainian worker illegally Mines Cryptocurrency at Work
An IT worker of the Judicial Administration in Ukraine has been caught illegally mining cryptocurrency at work. This unnamed staff worked at the data systems department and has been using the internet and equipment of Ukraine’s court to mine crypto.
It was also discovered that this worker had also hosted a motorcycle fan website and three online stores on the servers meant for the court’s document database. This person could get about 6 years in jail time and then prohibited from ever working at any government agency if found guilty by the court.
Evaluation: Bad
Source: Coindesk
3. Binance Business Manager in Nigeria Believes the Nigerian Crypto Market is about to go on a Bull Run
According to Binance’s business manager in Nigeria, Emmanuel Babalola, Binance has recorded about a 50% increase in new signups just two months into 2020 in Nigeria. In January, a masterclass which was organized by Babalola in Benin to teach users how to register and set up their accounts and wallets and also how to trade cryptocurrency got about 300 participants. The class had so much success that three more classes have been planned over the next few weeks.
Although the Nigerian market is mostly dominated by peer-to-peer exchanges such as Remitano, Binance is the first global crypto exchange to set up a fiat-on-ramp in the country. According to the World Bank, approximately 35 million unbanked Nigerian adults possess smartphones. As a result, these people have then turned to cryptocurrency. Babalola said Binance now has agents going from door to door to make Nigerians understand the possibility of cryptocurrency.
Evaluation: Good
Source: Coindesk
4. France and Australia collaborate to tackle cryptocurrency crimes
NIGMA Conseil, a blockchain security firm in France, has reached an agreement with the
Austrian Institute of Technology (AIT) to track and combat crypto crimes.
With the e-NIGMA platform, the organizations will be able to trace blockchain transactions
on digital assets exchanges. The effort is also an attempt by the EU to investigate darknet
usage of crypto and identification of coin mixers alongside Interpol and other governmental
Partners.
Cryptocurrency exchanges have also been actively involved in tracking the usage of coin
mixers and even suspending accounts. Reputable exchanges like Binance have traced and
suspended accounts connected to coin mixers.
Evaluation: Good
Source: Bitcoinist
5. Bank of Canada awaits Libra Success to launch its crypto.
The Deputy Governor of Bank of Canada, Timothy Lane, stated that the Bank of Canada does
not need to create a cryptocurrency unless a real competitor like Libra launches.
He believes that Libra, the Facebook stable coin is the most apparent threat to the banking
system. While there’s no specific timeline for Libra’s launch, development is continuing
despite rejection from regulators.
Lane acknowledges that if Libra succeeds, it is the only technology that can prompt the Bank
of Canada to issue its own cryptocurrency.
Evaluation: Good
Source: Coindesk
