Bitcoin: Anti-Money Laundering Challenges and Solutions

Working with bitcoin is easy enough, given the wide array of bitcoin wallets and other payment processing tools available today. However, determining whether incoming bitcoin are tainted by or connected to illicit activity is increasingly challenging. It’s also increasingly important for businesses or banks that want to deal in cryptocurrency while remaining compliant with anti-money…

P2P Bitcoin Exchanges Still Hodl Hodling On

Asia-based crypto lender BabelBank has announced a record-high number of crypto-collateralized loans issued amid new rebranding efforts. The crypto firm will now be called BabelFinance, a name change which, the company says, signifies its efforts to offer broader services for crypto users, especially in the Chinese market. In a statement, the crypto lender claims to…

Statechains: Sending Keys, Not Coins, to Scale Bitcoin Off-Chain

Block space is limited: The Bitcoin blockchain can only process some 10 transactions per second, at most. To resolve this, Bitcoin’s technical community is developing second-layer protocols that process transactions “off-chain,” such as the Lightning Network and sidechains. Using clever cryptographic tricks, these transactions are batched to periodically settle on the Bitcoin blockchain as a…

South Korean Crypto Exchanges Agree to Take the Fall for Hacks

Several South Korean cryptocurrency exchanges have updated their terms of service in line with regulatory demands, The Korea Herald reports. The country’s financial watchdog, the Financial Trade Commission (FTC), has announced that five exchanges updated their terms of service following its corrective recommendation made last year. Notable on the list of exchanges making updates to…