In the recent #Israel #Crypto Conference, industry experts gathered to discuss and shed light on the critical security practices that Web3 startups should adopt to safeguard their operations and protect user assets. With the growing popularity of decentralized technologies and the emergence of new digital ecosystems, ensuring the security of blockchain-based projects has become paramount.

During the conference, cybersecurity professionals emphasized the need for Web3 startups to implement robust security measures, including secure smart contract development, comprehensive audits, and rigorous vulnerability testing. By addressing potential vulnerabilities early in the development process, startups can mitigate the risks associated with hacks, exploits, and data breaches.

Moreover, experts stressed the significance of adopting industry best practices, such as multi-factor authentication, encryption, and secure wallet management. They also emphasized the importance of educating users about potential security threats and encouraging responsible usage of decentralized applications (dApps) and crypto assets.

The conference served as a platform for startups to showcase innovative security solutions, ranging from decentralized identity management platforms to advanced encryption protocols. Panel discussions and workshops provided valuable insights into the evolving threat landscape and strategies to enhance the security posture of Web3 projects.

As the Web3 #ecosystem continues to evolve, it is crucial for startups to prioritize security from the early stages of development. By incorporating robust security practices and collaborating with cybersecurity experts, Web3 startups can build trust and confidence among users and contribute to the long-term success of the #decentralized economy.

#Tether , the leading global stablecoin enterprise, has restated its dedication to addressing the issue of cryptocurrency-financed terrorism and violence through its collaborative efforts with law enforcement authorities throughout the globe.
The organisation has taken measures to freeze a total of 32 addresses, which are said to be associated with unlawful activity in #Israel and #Ukraine . The frozen assets amount to $873,118.34.
Tether has established collaborations with law enforcement agencies worldwide.
As per a blog post dated October 16, Tether has played a substantial role in providing assistance to 31 law enforcement agencies spanning across 19 locations. This assistance has resulted in the freezing of assets amounting to $835 million, mostly linked to thefts arising from blockchain and exchange breaches.
The firm has established cooperation in many nations, encompassing Brazil, Singapore, Germany, Canada, Argentina, China, Ukraine, and the United States. Tether's objective is to actively collaborate with authorities in order to make a meaningful contribution to the efforts against cybercrime and facilitate the restitution of misappropriated monies to their rightful owners. The business further asserted:
Tether has taken action to freeze a total of 32 addresses, which together hold a sum of $873,118.34. These addresses have been identified as being associated with unlawful activities inside the countries of Israel and Ukraine. Tether has collaborated with the National Bureau for Counterterrorism Financing (NBCTF) in Israel to mitigate the risks associated with cryptocurrency financing of terrorist and warfare.
The capacity of Tether to immobilise and restore unlawfully acquired funds underscores the traceability and transparency inherent in blockchain transactions. In contrast to prevailing assumptions, it is important to note that transactions involving cryptocurrencies do not possess inherent anonymity. Rather, these transactions are scrupulously documented on the blockchain, therefore enabling the possibility of monitoring and tracing the flow of funds.
The Chief Executive Officer (CEO) emphasises the need of traceability.
Paolo Ardoino, the newly appointed Chief Executive Officer of Tether, has underscored the inevitability of identifying those involved in illicit operations employing cryptocurrency. According to Ardoino, Tether maintains its dedication to advancing the appropriate use of blockchain technology and serving as a strong safeguard against cybercriminal activities. We express our enthusiastic anticipation for further engagement with international law enforcement authorities, as it aligns with our dedication to global security and the preservation of financial integrity.
Tether's actions exemplify the ability of the industry to effectively counter criminal utilisation. However, certain critics within the blockchain sector persist in scrutinising the cryptocurrency industry, often overlooking the sluggishness or insufficient capabilities of the conventional financial system in combating illicit funding.
Regarding this issue, the CEO of Tether emphasised the need of acknowledging the transparency and trackability of blockchain transactions, as they work as effective deterrents against unlawful acts.
The stablecoin firm responsible for USDT is actively engaging in partnerships with law enforcement authorities worldwide, therefore emphasising the capacity of blockchain technology to augment financial security and integrity.
Blockchain technologies provide a strong safeguard against cybercrime and illicit financial activity through their capacity to ensure the traceability of transactions.
The preservation of the integrity and stability of the digital asset ecosystem heavily relies on the ongoing cooperation between #cryptocurrency firms and law enforcement authorities, particularly as the battle against cybercrime escalates.

#crypto news update of Israel :

#Israel Proposes Bill to Reduce Crypto Tax for Foreign Residents :

A bill that proposes to exempt foreigners from capital gains #taxes on cryptocurrency profits passed its first reading in the Israeli parliament, the Knesset, on June 5, 2023. The bill, which was sponsored by Knesset member Dan Ilouz, would also reduce the current 50% tax on crypto bonuses for employees to 25%.

The bill is still in its early stages and has not yet been approved by the Knesset. However, if it is passed, it would make Israel one of the most crypto-friendly countries in the world.

Currently, capital gains in Israel are taxed at 25 percent, regardless of whether the asset is cryptocurrency or something else. The bill would exempt foreigners from this tax, which could make Israel a more attractive destination for foreign investors in cryptocurrency.

The bill would also reduce the tax on crypto bonuses for employees from 50% to 25%. This would bring the tax treatment of crypto bonuses in line with the tax treatment of stock options.

The bill is supported by the ruling coalition parties in Israel. If it is passed, it would be a major step forward for the crypto industry in Israel.

Here are some additional details about the bill:

The bill would exempt foreigners from capital gains taxes on cryptocurrency profits.

The bill would reduce the current 50% tax on crypto bonuses for employees to 25%.

The bill is still in its early stages and has not yet been approved by the Knesset.

If the bill is passed, it would make Israel one of the most crypto-friendly countries in the world.

What do you think of this bill? Do you think it would make Israel a more attractive destination for foreign investors in cryptocurrency? Let us know in the comments below!

#pepe #crypto2023

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