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“# US Treasury Dept sanctions crypto OTC broker Suex for alleged role in facilitating transactions for ransomware attacks ” The United States Department of the Treasury has announced it will impose sanctions on Czech Republic and Russia-based business Suex OTC for allegedly allowing hackers to access cryptocurrency sent as payment for ransomware attacks. In a…
“# Democrat Senator lobbies agencies over the use of crypto in ransomware ” Some U.S. Senators are ramping up the anti-crypto rhetoric again, urging federal agencies to take action against the illicit use of digital assets. Democrat Senator Maggie Hassan is the latest to raise concerns about the use of cryptocurrency as a means of…
“# US State Department offers up to $10 million in crypto rewards to white hat hackers ” The United States government is offering rewards in cryptocurrency for information relating to the operations of enemy state-backed hackers or suspected terrorists. The U.S. State Department’s new “Rewards for Justice” platform allows informants to submit anonymous tips and…
“# Kaseya recovers data stolen in ransomware attack with mysterious decryption tool ” IT software provider, Kaseya, has announced it is providing its clients with a decryption tool to recover customer data that was locked in a ransomware attack earlier this month. In a July 26 notice on its website, the global technology firm stated it…
“# DoJ’s crypto czar joins FinCEN in brand-new role: Why it matters ” In her monthly Expert Take column, Selva Ozelli, an international tax attorney and CPA, covers the intersection between emerging technologies and sustainability, and provides the latest developments around taxes, AML/CFT regulations and legal issues affecting crypto and blockchain. Talk about ending a…
“# Are cryptocurrency ransom payments tax deductible? ” About 2,000 years ago during its Han dynasty, China made peace with some of the nomadic people of Central Asia who continuously ransacked Silk Road traders for an easy payday. It did so in order to fully establish the Silk Road trade route, which stretched from China…
“# Driving ‘purists beserk’: Co-chair of blockchain caucus wants to ‘reverse’ crypto transactions ” Bill Foster, Democratic Representative and co-chair of the Congressional blockchain caucus, has called for a regulatory framework that would enable third parties to reverse fraudulent or criminal transactions. Foster is a physicist and a Democratic Rep for Illinois. The blockchain caucus…
“# CNBC host boldly reveals he sold his BTC amid depths of bear market ” Jim Cramer, the host of CNBC’s Mad Money, announced he has liquidated nearly all of his Bitcoin (BTC) holdings. Speaking on June 21 during an interview with CNBC’s Squawk Box on the Street, Cramer asserted that BTC is ”not going…
“# Biden hints at possible cybersecurity arrangement with Russia over ransomware attacks ” United States President Joe Biden implied he made some progress in addressing ransomware attacks on critical infrastructure after speaking with Russian President Vladimir Putin. Following a Wednesday summit in Geneva, Biden said he had spoken with Putin on the issue of cybersecurity,…
“# New analysis sheds light on DOJ Bitcoin seizure, as JBS pays massive $11M ransom ” JBS USA Holdings Inc. has paid an $11 million ransom in Bitcoin to cybercriminals as new details emerge over the FBI’s recovery of assets from a previous heist. The payment, estimated to be more than 300 BTC at current…