European Commission Proposes New Cyber Security Agency

Announcements, Crime, News | September 21, 2017 By:

The European Commission is gearing up to propose new penalties for cyber crimes involving cryptocurrencies. As part of that, the EU’s executive arm said it would create a new cyber security agency to fight back against hackers.

“The proposed directive will strengthen the ability of law enforcement authorities to tackle this form of crime by expanding the scope of the offences related to information systems to all payment transactions,

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Swiss Miss: Agency Closes Down Faux E-Coin

Crime, News, Regulation | September 20, 2017 By:

E-Coin is no cryptocurrency, according to Swiss officials. The regulators have shut-down a bogus crypto called “E-Coin” that generated $4.2 million (4 million Swiss francs) in revenue for its creators.

The Financial Market Supervisory Authority of Switzerland (FINMA) closed down the site after discovering it didn’t have the required banking license.

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“Malvertising” Hacks Computers For Crypto-Mining

Crime, News | September 15, 2017 By:

PC magazine has reported malware writers have developed a way to use JavaScript files that can mine cryptocurrency. The files are delivered via advertisements.

Security vendor ESET was the first to discover the problem,   which it calls JS/CoinMiner.A. The firm claims that hijackers buy traffic from advertising networks and use that to distribute the malicious advertisements (known as malvertising).

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Russia’s Finance Minister Promises Crypto Regs By Year-End

Announcements, Crime, FinTech, Investing, News, Regulation | September 11, 2017 By:

Russian Finance Minister Anton Siluanov said there was “no point” in prohibiting cryptocurrencies, and that his department will have a bill by the end of the year with concrete regulations. Siluanov’s comments came last week in an appearance at the Moscow Finance Forum conference.

“The state certainly understands that cryptocurrencies are a reality,”

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Reports: China To Close Its Domestic Crypto Exchanges

Blockchain, Crime, FinTech, Innovation, Investing, News, Regulation | September 11, 2017 By:

Reports are multiplying that China is about to shut down its domestic cryptocurrency exchanges. The move follows a decision by regulators last week to ban initial coin offerings (ICO).

On Monday, Bloomberg News and the Wall Street Journal followed an initial report by China’s Caixin news service that regulators have ordered a halt to all digital currency trading platforms in the country.

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