The European Central Bank (ECB) stresses the need for faster progress on the digital euro to ensure Europe does not fall behind global competitors. Legislative delays could threaten the EU's position in the crucial race for central bank digital currencies (CBDC).
Europe Lagging in Global Competition
The digital euro project is facing delays in the European Union. Evelien Witlox, ECB's digital euro project manager, warns that Europe must accelerate its development to remain competitive. In an interview with Euronews, she noted that global players like China and the United Kingdom are already actively testing their digital currencies.
Lack of a Unified Digital Payment System
Europe still lacks a unified pan-European digital payment solution. Out of 20 eurozone countries, 13 do not have their own national card payment systems and instead rely on foreign providers like Visa and Mastercard. According to Witlox, the European market remains fragmented, with the most extensive coverage offered by non-European companies.
To address this issue, the ECB launched a digital euro exploratory project in October 2021. However, progress hinges on the completion of a legal framework, a task that the European Parliament and Council must finalize. Delays in this process, spanning nearly 17 months since the European Commission’s proposal, have raised concerns within the ECB.
Urgency to Speed Up the Process
Despite advancements in discussions about the digital euro, Witlox emphasized that maintaining momentum is critical to ensuring the digital euro is ready when it is truly needed. While no specific timeline for its launch has been set, Witlox expressed optimism, reiterating that Europe remains "at the forefront of CBDC development."
Conclusion: The European Central Bank underscores the importance of swift action to keep pace with global developments in central bank digital currencies. To avoid losing its competitive edge, Europe must not only expedite the legislative process but also establish a cohesive and efficient digital payment solution across the continent.

#cbdc , #CryptoNewss , #centralbank , #Digitalasset , #cryptoregulation

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A Ukrainian man fell victim to a cryptocurrency robbery worth $250,000 USDT after being attacked and forced to transfer a significant amount under the threat of violence.
Details of the Incident
According to a report from the Bangkok Post, 23-year-old Viacheslav Leibov was invited to a hotel room by his 18-year-old Ukrainian friend, Alfred Chernyshuk. Upon entering, Leibov met an Armenian man named Arman Grigoryan, who asked him to step out onto the balcony for a conversation.
The robbery took place when Leibov decided to use the restroom, where he was confronted by two masked men. They tied him up with ropes and zip ties, demanding he transfer 500,000 USDT to their wallet, threatening physical harm. Leibov managed to negotiate the amount down to half and transferred 250,000 USDT.
Perpetrators Escape, Victim Alerts Hotel Staff
After the transfer, Leibov was bound to the bed and warned not to report the incident. However, he freed himself and informed hotel staff. The room was registered under the names Chernyshuk and Grigoryan. Leibov attempted to locate his attackers at the airport but was unsuccessful and later reported the incident to the police.
Increase in Cryptocurrency Robberies
This incident is one of several recent cryptocurrency robberies in Thailand. Recently, Rooch Network co-founder Haichao Zhu was robbed by two attackers in Bangkok shortly before the Ethereum Devcon conference.
Similar cases have occurred in other countries. In Canada, cryptocurrency entrepreneur Dean Skurka, CEO of Toronto-based WonderFi Technologies, was recently kidnapped and held for a ransom of 1 million CAD.

#CryptoSecurity , #cybercrime , #Digitalasset , #cryptocrime , #CryptoNewss

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,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“

HashKey Group, a Hong Kong-based company, and SlowMist recently disclosed through an email sent to AZCoin News that they have formed a strategic partnership. The two entities will work together in several areas, including digital asset ecosystem security, anti-money laundering for digital assets, advanced security technology research, and other technology fields. The partnership aims to develop comprehensive security standards and solutions that will safeguard HashKey Group’s various business lines.

SlowMist, a leading blockchain security company with years of experience in the industry, will provide HashKey Group with tailored security solutions from threat discovery to defense, guaranteeing the security of HashKey Group’s businesses. SlowMist’s security services cover top platforms in hundreds of industries, including both centralized and decentralized platforms. The company has audited more than 1,500 well-known smart contracts, covering Ethereum, EOS, Solana, Klaytn, Aptos, and other public blockchains.

In addition, SlowMist will provide HashKey Group with Red Teaming services, which evaluate real vulnerabilities in enterprise staff, business systems, supply chains, office systems, and physical security. Based on the assessment results, SlowMist will provide optimal graded security defense solutions to primarily protect vulnerable core nodes and effectively increase attackers’ costs.

SlowMist will also provide HashKey Group with security consulting services to solve the needs of the entire security system and security lifecycle for target projects. They will provide comprehensive asset security solutions for online hot assets, cold assets, and DeFi assets, helping HashKey Group improve the security and stability of their assets.

SlowMist’s AML/CFT compliance solution with two key products, MistTrack and Malicious Address Library, will better defend against cybercriminals and protect user digital assets. MistTrack focuses on cryptocurrency flow, address monitoring, hacker profiles, investigation and freezing, among other aspects. The Malicious Address Library utilises open-source data, blockchain honeypots, artificial intelligence, and information provided by customers and partners to extract reliable anti-money laundering data in real-time.

Through cooperation with HashKey Group, SlowMist will leverage its deep understanding of various fields, combined with the research and unique insights of HashKey Group’s professional investment team, to study and explore the opportunities for new technologies in development. This will consolidate SlowMist’s position as a leader in top digital asset financial service groups.

HashKey Group is an end-to-end digital asset financial services group in Asia, providing a complete ecosystem across the entire digital asset landscape, ranging from trading to asset management and custody. The partnership with SlowMist will help HashKey Group maintain its leading position in the fast-growing fintech field through constant innovation and higher security standards.

#HashKeyGroup #SlowMist #azcoinnews #crypto2023 #Digitalasset

This article was republished from azcoinnews.com

We’ve got five tiers: GOATED, TOP NOTCH, GOOD, MID, and BAD. 📊
1.2.3 LFG 🔽
🔴 Creation of Bitcoin (2008)
The creation of Bitcoin by the mysterious Satoshi Nakamoto in 2008 marked the beginning of the entire cryptocurrency movement, introducing the concept of decentralized digital currency.
📊 Tier List: GOATED
🔴 Ethereum Launch (2015)
Ethereum’s launch in 2015, led by Vitalik Buterin, introduced smart contracts and decentralized applications (DApps), revolutionizing the blockchain space.
📊 Tier List: GOATED
🔴 FTX Collapse (2022)
In November 2022, the major cryptocurrency exchange FTX filed for bankruptcy following a liquidity crisis and allegations of misuse of customer funds.
📊 Tier List: BAD
🔴Bitcoin Halving (2020)
The Bitcoin halving in May 2020 reduced the block reward from 12.5 BTC to 6.25 BTC, increasing scarcity.
📊 Tier List: GOOD
🔴 Genesis Block (2009)
The Genesis Block, the first block of the Bitcoin blockchain mined by Satoshi Nakamoto on January 3, 2009, marked the start of the Bitcoin network.
📊 Tier List: GOATED
🔴 Mt. Gox Hack (2014)
The Mt. Gox hack in 2014 resulted in the loss of 850,000 BTC, highlighting security issues in the crypto space.
📊 Tier List: BAD
🔴 Bitcoin Hits $20,000 (2017)
Bitcoin hitting $20,000 in December 2017 marked a peak in public and media attention.
📊 Tier List: TOP NOTCH
🔴 DOGECOIN CRAZE (Early 2021)
In early 2021, retail investors on platforms like Reddit sparked the Dogecoin craze, with Elon Musk playing a pivotal role through his tweets.
📊 Tier List: GOOD
🔴 Emergence of Altcoins (2011)
The emergence of altcoins in 2011, starting with Namecoin and followed by others like Litecoin, diversified the crypto market.
📊 Tier List: GOOD
🔴 The DAO Hack (2016)
In 2016, The DAO hack led to a loss of $60 million in Ether, resulting in a hard fork and the creation of Ethereum Classic.
📊 Tier List: BAD
🔴 Bitcoin Reaches $1,000 (2013)
Bitcoin reaching $1,000 in 2013 was a significant milestone, signaling growing public interest and adoption.
📊 Tier List: TOP NOTCH
🔴 First Bitcoin Transaction (2010)
In 2010, the first known commercial Bitcoin transaction took place when Laszlo Hanyecz bought two pizzas for 10,000 BTC, an event now celebrated as Bitcoin Pizza Day.
📊 Tier List: TOP NOTCH
🔴 ICO Boom (2017)
The 2017 ICO boom saw numerous projects raising funds through Initial Coin Offerings, bringing massive growth and speculation to the market.
📊 Tier List: GOOD
🔴Bitcoin ETF Approval (2024)
The SEC approved spot Bitcoin ETFs on January 10, 2024, marking a step towards mainstream acceptance.
📊 Tier List: GOOD
🔴 Institutional Investment (2020)
In 2020, major institutional investors, including companies like MicroStrategy and Tesla, began investing heavily in Bitcoin.
📊 Tier List: TOP NOTCH
🔴 Bitcoin Ordinals (2023)
Bitcoin Ordinals enabled the creation of NFTs on the Bitcoin blockchain, expanding its use cases.
📊 Tier List: MID
🔴 Ethereum Merge (2022)
Ethereum transitioned from Proof of Work to Proof of Stake in "The Merge" on September 15, 2022, improving energy efficiency and reducing energy consumption by ~99.95%.
📊 Tier List: TOP NOTCH
🔴 NFT Boom (2021)
The NFT boom in 2021 saw digital art and collectibles selling for millions, popularizing blockchain technology in new sectors.
📊 Tier List: GOOD
🔴 El Salvador Adopts Bitcoin (2021)
El Salvador became the first country to adopt Bitcoin as legal tender in September 2021. This groundbreaking moment for national-level adoption of cryptocurrency.
📊 Tier List: GOATED
🔴 Terra (LUNA) and UST Crash (2022)
The crash of Terra (LUNA) and its stablecoin UST in May 2022 wiped out approximately $40 billion in market value.
📊 Tier List: BAD
And that’s our tier list for major events in the crypto world!
Do you agree with our rankings? Let us know in the comments below.
👇🏻
#BlockchainMilestones #Digitalasset #CryptoEvents #CPI_BTC_Watch #DOGSONBINANCE

➤ Bitwise CIO Predicts Crypto Market Rally as Macroeconomic Clarity Emerges.
➤ SEC Crypto Fines hit $4.7B in 2024; Terraform Labs account for $4.4B.
➤ $PROPS to be bridged to BASE blockchain in September.
➤ $GALA Gears Up for Major Marketing Push Ahead of Full Game Release.
➤ $DOGS Token Now Third by Holder Count, Trailing Only $USDT and $ETH.
#CryptoNews #Digitalasset #CryptoIndustry #CryptoInsights

The U.S. appeals court ruled that homeowner Ali Sedaghatpour's lawsuit, which sought coverage from Lemonade Insurance for losses due to a crypto scam, was correctly dismissed by the district court.
Claim for Compensation for Cryptocurrency Loss Rejected
Homeowner Ali Sedaghatpour attempted to sue his insurance provider for a $170,000 loss resulting from a crypto scam. However, the appeals court ruled that there was no error in the district court's decision to dismiss the case. The Fourth Circuit Court of Appeals found that Sedaghatpour’s insurance claim was invalid since his policy only covered “direct physical loss” of property.
Lemonade Insurance Not Responsible for Digital Loss
Sedaghatpour argued that personal property insurance should also cover stolen cryptocurrency. This case was one of the few where a crypto user attempted to argue that crypto assets were personal property covered by a homeowners insurance policy.
The court, however, ruled that under Virginia law, “direct physical loss” requires material destruction or damage. Since the digital theft of cryptocurrency does not constitute physical loss, Sedaghatpour could not recover his loss.
Limited Loss Coverage in Insurance Policy
The appeals court noted that Lemonade Insurance’s policy only covered up to $500 for losses from unauthorized use of electronic access devices, but Sedaghatpour’s claimed $170,000 for personal property coverage exceeded this limit.

Case Background
Sedaghatpour sued Lemonade Insurance in March 2022 after transferring $170,000 to a fraudulent entity, APYHarvest, in December 2021, which allegedly exploited his crypto wallet. When he discovered the wallet had been emptied, he accused APYHarvest of stealing his cryptocurrency and filed a lawsuit against Lemonade Insurance for coverage.
Lemonade Insurance's Legal Argument
Lemonade Insurance argued that while a hardware wallet is a tangible object, the data it contains lacks physical properties and cannot be considered a “direct physical loss” of property. Cryptocurrency itself remains an intangible asset, the company added.
Neither Sedaghatpour’s nor Lemonade Insurance’s legal representatives have yet commented on the case.

#Bitcoin❗ , #CryptoLaw , #CryptoNews🚀🔥 , #Digitalasset , #cryptoscams

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Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“

🟠 Binance's subsidiary, Tokocrypto, received a regulatory license in Indonesia, allowing it to operate as a physical crypto asset trader compliant with local laws.
🟠 Japanese blockchain Oasys has partnered with SK Planet, a subsidiary of SK Telecom, to expand in South Korea by onboarding millions of users to its gaming ecosystem.
🟠 Bernstein predicts Bitcoin could reach $90K by year-end if Trump wins, but drop to $30K-$40K under a Harris presidency, citing policy differences.
🟠 Bitwise CIO Matt Hougan says advisors are adopting Bitcoin ETFs faster than any other ETF in history, with BlackRock's IBIT leading.
🟠 Several crypto funds, including Pantera and ParaFi Capital, bought Metaplex (MPLX) tokens from the FTX estate, with MPLX trading at $0.25.
🟠 Nigeria’s SEC plans to enforce regulations on unregulated crypto businesses to protect investors, with only two exchanges currently regulated.
🟠 Investors lost $5.6 billion to crypto scams in 2023, with investment fraud accounting for $4 billion of losses, according to the FBI.
🟠 A U.S. District Judge issued a "temporary administrative stay" in the CFTC-Kalshi dispute, halting Kalshi's election contract offerings until a hearing on Thursday.
🟠 Hackers responsible for the July WazirX breach have moved $11M in stolen Ether to Tornado Cash, masking their trail after stealing $100M+ in assets.
🟠 Snapshot X launches gas-free onchain voting for DAOs via Starknet, boosting participation with secure, cost-efficient governance.
#CryptoNewss
#BlockchainUpdates
#Digitalasset
#InvestingInsights
#Web3Development

Greeks analysts noted that borrowing rates on cryptocurrency #exchange Bitfinex have risen sharply, reaching 30% annual percentage rate (APR). Such major changes usually indicate a major shift in market activity, especially among large spot traders. It is about the fact that they have started to rapidly increase their positions, as a reaction to the recent correction in the #Digitalasset market.

Such an increase in rates is considered a strong bullish signal for the market, as it indicates an increase in borrowing demand among the big players. Usually, sharp increases in borrowing are associated with changes in trading volume and capital inflows. This in turn tends to push asset prices up.

It is interesting to note that over the past 2 years, cases where borrowing rates on #Bitfinex have risen to 30% or higher have often preceded significant rallies in the market. This is due to the fact that large traders usually start to aggressively increase their positions using borrowed funds, which creates additional pressure on the growth of quotes.

This phenomenon reflects the growing expectations of traders regarding future price movements. When traders start borrowing assets at high interest rates, it indicates confidence in market growth despite short-term fluctuations.

In addition, such a high borrowing rate may indicate a lack of liquidity in the credit sector, which also increases the cost of borrowing and reflects the high willingness of participants to pay for access to capital. In a situation where the market is showing bullish sentiment, such conditions could be a catalyst for asset prices to rise further. Thus, the sharp rise in rates on Bitfinex could be an early indicator of the start of a new bull cycle in the #cryptocurrencymarket , especially if historical trends continue.
#ScrollOnBinance

Radiant Capital Restores Ethereum Lending After Security Upgrades
Radiant Capital has resumed its Ethereum lending after a hack that resulted in the loss of $58 million in digital assets. On November 1, the company announced several security upgrades, including transferring ownership to a time-lock contract that requires a 72-hour waiting period for modifications, strengthening security.
Emergency Management and Safer Multi-Signature Wallets
Radiant Capital also introduced an emergency manager role with the ability to suspend or resume markets as needed. Additionally, the decentralized autonomous organization (DAO) updated the security of multi-signature wallets, now requiring four out of seven signatures to approve transactions. This setup enhances security by eliminating single-point-of-failure risks.
Costly Lesson for DeFi Following Loss of Millions
These upgrades followed an attack that led to the loss of $58 million in digital assets. Radiant Capital temporarily suspended its lending on October 16 after a cyber attack on the BNB and arbitration chain. Hackers gained access to private keys and smart contracts of several key signatories, draining over $50 million.
Attackers Exploited Developers' Devices Using Malware
On October 18, Radiant Capital confirmed that the devices of three main developers had been compromised by malware, which manipulated transactions. The front-end of the wallets displayed legitimate transactions while malicious transactions were executed in the background.
“A $50 Million Lesson” for the DeFi World
Security expert Patrick Collins called the incident a “$50 million lesson” for the world of decentralized finance (DeFi). According to Collins, there is a need for better education on secure transaction verification, especially with hardware wallets.

Hackers Have Already Moved Most of the Stolen Funds
Radiant Capital lost nearly $52 million, which attackers have already moved from the blockchain, as reported by security firm PeckShield on October 24. Phishing attacks have led to significant losses, as seen in the August 21 case where attackers gained access to $55 million in stablecoins.
Need for Better Transaction Security in the Crypto Space
Due to such incidents, Ledger CEO Pascal Gauthier highlighted the need for clear transaction signing. He emphasized that the industry should focus on safer and more transparent transaction verification.

#Digitalasset , #Cryptoscam , #CryptoHack , #cybersecurity , #CryptoSecurity

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,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“

-- Members of the House of Lords have expressed support for the Digital Asset Ownership Bill introduced by the Law Commission.
-- The bill will help resolve legal disputes, Crypto .
-- The Lords also called on the new Labor government to bring more clarity to the issue of Crypto .

Members of Britain's upper house of parliament on Wednesday gave their second reading support to the #Digitalasset Ownership Bill.

The Greater House of Lords committee generally believed the bill would bring more clarity to how the legal system will treat Crypto , and could be another step forward for the country that paves the way for Crypto use in the country.

The UK introduced the bill in September. It was drafted by the Law Commission, an independent statutory body. The bill adds a new category of “thing” to the categories that fall under property to help resolve legal disputes, Crypto .

“This supports our efforts to ensure that our jurisdiction remains at the forefront of the world by providing a flexible legal framework that can respond to the dynamic nature of digital assets and other new technologies,” said Lord Frederick Ponsonby of Shulbreda.

According to Ponsonby, the bill will not only help judges in criminal proceedings when their Crypto has been stolen through fraud or hacking, but will also help in the division of marital property.

“The bill is brief in nature but could have an extremely important impact,” said Lord Chris Holmes of Richmond.

John Thomas, also known as Baron Thomas of Coomgidd, agreed that the Law Commission Bill represented a “critical change” and called for it to be made internationally competitive, which Ponsonby believes is the case.
#SUIHitsATH