Let’s start with two basic questions: How different is a crypto scam compared to other financial scams? And how prevalent are they?Essentially, crypto scams work similar as any other financial scam with the difference that malicious actors aim to get a hold of cryptocurrencies and crypto-based assets rather than fiat money. The crypto ecosystem has …
In short, ransomware is a type of illegal software designed to block access to a device or computer system until a sum of money (= ransom) is paid. Ransomware attacks have grown significantly in both number and scale over the last few years according to the latest FATF Report Countering Ransomware Financing (March 2023): The estimated number …
Ransomware attacks & cryptocurrencies: what, why and how? Read More »
Incentivised by the money inflows in crypto assets, malicious actors and groups have found ways to steal funds of blockchain ecosystem participants through hacks and exploits. Besides the loss of assets of individual users and companies, these hacks have also diminished the trust in the blockchain technology and its applications, especially DeFi. Learn in this …
Mexico has seen a rise in both the popularity of cryptocurrencies and interest in the blockchain technology over the past few years. Indeed, Statista predicts that in 2023 around 12 million people will use cryptocurrencies in Mexico, a steep increase from 1.06 million users in 2020. Similarly, Bitso — a crypto exchange founded in Mexico in 2014 — …
Countries across the Latin American region have been affected by severe devaluation of their local currencies, coupled with high inflation rates. One of the effects of this situation is that the popularity of digital assets has risen in the region as residents began viewing them as a way of storing value and consequently started shifting parts …
This article aims to provide you with an overview and introduction to on-chain data analysis — we will dive into the specifics in future ones. What — an introduction Essentially, on-chain data analysis (or also called on-chain analysis) encompasses the necessary steps to understand and visualise the numerous data points stored on a blockchain with …
On-chain data analysis fundamentals: what, why and how? Read More »
Digital assets are susceptible to illicit activities, including money laundering and financing of terrorism (ML/FT) (read in our previous article more about the reasons). In the traditional financial services industry, effective anti-money laundering and combating the financing of terrorism (AML/CFT) frameworks and measures are considered crucial to mitigate these risks. Deriving from this, the Financial Action Task Force …
Within the Latin America region, Argentina is one of the countries at the forefront of cryptocurrency adoption, along with Brazil (see our previous article about Brazil), Colombia (see the article here) and Ecuador. In Argentina, the adoption of cryptocurrencies is driven by high annual inflation rates (y.o.y inflation of 78% for 2022 according to the Central Bank), rigid foreign exchange restrictions, …
The Monetary Authority of Singapore (MAS) — Singapore’s central bank and integrated financial regulator — works together with actors of the financial industry to develop and promote Singapore as a dynamic regional and international financial centre. As showed in the past, it generally has an open mind towards emerging technologies and thrives to understand the benefits that …
Approach of the Monetary Authority of Singapore (MAS) towards crypto Read More »
On June 22nd, 2022, the European Union (EU) — wide Regulation on a Pilot Regime for market infrastructures based on distributed ledger technology (DLT Pilot Regime) came into force, applying from March 23rd, 2023. This Regulation is part of the EU Digital Finance Package introduced by the European Commission in 2020 and forms within this Package together with the Regulation of …