For a couple of decades, people have misused the anonymity features of most cyber platforms to attack, abuse or harm others and this has been a big problem to society. But now, blockchain-based digital IDs could be a solution to combat online abuse and trolling while observing maximum anonymity.
The International Association for Trusted Blockchain Applications (INATBA) is concerned about the latest Markets in Crypto-assets (MiCA) regulations imposed by the European Commission. The new framework might overburden the industry and therefore slow down its growth.
The Ministry of Finance of Russia has recently represented an update for the regulation of cryptocurrencies. Their new proposal includes an obligation for all Russian cryptocurrency holders to declare transactions on cryptocurrency and reporting on holding cryptocurrency wallets.
Hackers use Binance cryptocurrency exchange to launder stolen money. As per the report by the federal Bureau of Investigation (FBI), a principal federal law enforcement agency, ransomware dubbed Ryuk has been used since its creation in 2018 to steal cryptocurrency worth $61 million.
Law enforcement agencies make their best efforts to combat criminals performing drug transactions via the darknet. On August 24, the Indian Narcotics Control Bureau arrested a young man for buying ecstasy pills using Bitcoin.