WTFBit Weekly: Mar 9

Weekly Digest — 10 March

1. Intrigues, gossips, investigations about Coinbase. Recently, an American crypto exchange has acquired the Italian startup Neutrino — a service that collects users' private data, and then sells them to corporations. An investigation revealed that the "enemy of the Internet" - the Hacking Team (known for helping governments with dictatorial regimes track all sorts of dissidents online) stands behind Neutrino. Users of the exchange were outraged and started the #DeleteCoinbase campaign with the aim to shut their accounts down and withdraw funds from the Coinbase. After all, management of the exchange decided to fire the former members of the Hacking Team.

2. Facebook develops its own cryptocurrency, aiming to help users send payments in WhatsApp instantly. Stablecoin is likely to be tied to the US dollar and dedicated to the Indian market, where 200 million people use the messenger. Now, representatives of the social network negotiate the listing of the coin.

3. The Ernst & Young Audit Company (EY) created a program calculating and accounting taxes for transactions with cryptocurrencies. The tool is called Crypto-Asset Accounting and Tax (CAAT) and intended to facilitate the tax accounting of transactions in digital currencies. The service is available for both institutional clients and individuals.

4. In early February, the Kraken exchange acquired the crypto-futures provider Crypto Facilities. For this month platform's trading volumes increased more than 500% — and reached $1 billion. The liquidity of the contracts also increased, sometimes even by 1000%. The company offers futures for Bitcoin, Ripple, Ethereum, Litecoin and Bitcoin Cash.

5. Russia is considering the adoption of a mandatory identification for crypto owners — such changes should be made to the bill “On Digital Financial Assets". Identification of crypto owners is necessary to control money laundering. Conducting transactions with unregistered users may become a violation of law with the punishment of up to 15 years imprisonment.

And about the news in Ukraine.

6. AI-project was launched in Kyiv to develop an automated decision-making system for the KSCA services. The AI for Kyiv is aimed to exclude the human factor from the decision-making process and makes it as transparent as possible. According to creators, this is the first step towards creating the ecosystem of digital rights.

7. Distributed Lab introduced a tokenisation asset platform, TokenD. The project is aimed to reduce costs, risks and terms of asset tokenisation projects. It is also intended to lower the barrier to entry the market for blockchain projects.

"WTFBit" is an educational and media resource about cryptocurrencies, blockchain and emerging technologies with humor.

Comments
WTFBit Weekly: Mar 23

WTFBit Weekly: Mar 23


Day before yesterday
Nice try, BCH

Nice try, BCH


04 March