Key logging and other forms of viral attack have been around longer than Crypto. Before that, Crims have always found a way to finance their lives. Poor security on your part does not make Crypto bad, any more than a vulnerable person handing over their life savings because 'the bank/police phoned and told me to move my money' makes FIAT bad.
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Cryptocurrency
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I didn't yet really get the point of coins like USDT/USDC, rather than USD, anyone?
XRP is quite interesting. If the market weren't in such turmoil I'd be tempted, but right now you might find all crypto falls 40%, before XRP get's a SEC-related 35% boost!
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No, it's not easier, that's why cybercriminals use it so much now - ransomware attacks were practically unheard of until 5 years ago, now they are hitting critical infrastucture on a daily basis.
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USDC and stablecoins are just tokenized USD/FIAT that can be moved around on blockchains. You can be in crypto with 100% stablecoins and stake them on DeFi projects for yield. Quite a few people are doing this in the bear market. Risk is that they lose their peg or get banned. USDT is at risk of this at the moment, USDC however is the Goldman coin and ISO20022 chosen one for stable. Could even end up becoming the digital dollar.
CBDCs (central bank digital currencies) are on the way and DLT (distributed ledger tech - AKA blockchain) are in the works for a new global financial infrastructure.
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"Barclays stops UK clients from sending funds to Binance
Move comes after regulator said exchange not authorised to conduct crypto business in Britain
Barclays has stopped UK customers from transferring funds to Binance after the Financial Conduct Authority last month said the digital asset exchange was not authorised to undertake crypto business within UK borders. The London-based bank on Monday notified clients of the prohibition on debit and credit payments to Binance, which it said would start immediately and was intended “to help to keep your money safe”. “This action does not impact on the ability for customers to withdraw funds from Binance,” the bank said. “The decision has been taken following the FCA warning to consumers.”
https://www.ft.com/content/abc04cc0-ea53-4ecb-8c1e-49c85014fa3f
A nothingburger they said.
Also, why fans of tulipcoins care so much about fiat? They don't need fiat because they've got superior tulipcoins, so stay with them forever.
Move comes after regulator said exchange not authorised to conduct crypto business in Britain
Barclays has stopped UK customers from transferring funds to Binance after the Financial Conduct Authority last month said the digital asset exchange was not authorised to undertake crypto business within UK borders. The London-based bank on Monday notified clients of the prohibition on debit and credit payments to Binance, which it said would start immediately and was intended “to help to keep your money safe”. “This action does not impact on the ability for customers to withdraw funds from Binance,” the bank said. “The decision has been taken following the FCA warning to consumers.”
https://www.ft.com/content/abc04cc0-ea53-4ecb-8c1e-49c85014fa3f
A nothingburger they said.
Also, why fans of tulipcoins care so much about fiat? They don't need fiat because they've got superior tulipcoins, so stay with them forever.
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Yet another, nothingburger -
"Binance ‘temporarily suspends’ payments from EU’s Sepa network
Latest block comes after flurry of regulatory pushbacks against crypto exchange
Binance said it will suspend euro bank deposits from one of Europe’s key payments networks in the latest sign of how the crypto firm is losing key connections to the conventional financial system following a regulatory crackdown. In an email to users on Tuesday, the exchange said that from 8am universal co-ordinated time on Wednesday, customers would no longer be able to deposit funds through the Single Euro Payments Area, or Sepa, schemes. Its move was due to “events beyond our control”, the exchange said."
https://www.ft.com/content/bf99e9e3-d104-4a92-81a1-8bd70b884b3f
"Binance ‘temporarily suspends’ payments from EU’s Sepa network
Latest block comes after flurry of regulatory pushbacks against crypto exchange
Binance said it will suspend euro bank deposits from one of Europe’s key payments networks in the latest sign of how the crypto firm is losing key connections to the conventional financial system following a regulatory crackdown. In an email to users on Tuesday, the exchange said that from 8am universal co-ordinated time on Wednesday, customers would no longer be able to deposit funds through the Single Euro Payments Area, or Sepa, schemes. Its move was due to “events beyond our control”, the exchange said."
https://www.ft.com/content/bf99e9e3-d104-4a92-81a1-8bd70b884b3f
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...because depending on your tax regime cashing out to fiat might involve a CGT payment.
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So tax evasion, eh?
