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    Canada’s regulatory clarity is bringing institutions to crypto — WonderFi CEO

    Skurka claimed that his exchange had seen an uptick in trading by institutions as opposed to retail investors. “What we have seen in the first half of this year is growth in our OTC institutional segment,” he stated, referring to over-the-counter trades. “These institutional investors, more sophisticated investors, are [more] immune to sentiment and trends in the market, and they’re more fundamental in their investment approaches. […] We’re starting to see, […] through clear regulation, that the segment of our client base is shifting quite a bit.”Continue Reading on Coin Telegraph More

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    Shiba Inu’s Shibarium Ethereum L2 blockchain goes live on mainnet

    Shibarium is built on a new consensus mechanism called proof-of-participation (PoP), which works by selecting validators in proportion to their quantity of holdings in the associated cryptocurrency. This is done to avoid the computational cost of proof-of-work schemes. The new L2 blockchain solution is designed to interact with the primary Ethereum layer-1 blockchain, providing a more scalable and cost-effective transaction platform.Continue Reading on Coin Telegraph More

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    CoinSmart president says crypto taxes are a ‘little bit more favorable’ outside US

    Speaking to Cointelegraph at the Blockchain Futurist Conference in Toronto on Aug. 16, Koven said promoting crypto at casinos and for sports betting was “really a no-brainer” in Canada, where many users were interested in gaming. He also pointed to the U.S. for dividing crypto rules among the Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission, raising concerns among firms looking for clear regulations.Continue Reading on Coin Telegraph More

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    Should we ban ransomware payments? It’s an attractive but dangerous idea

    Our understanding of the threat is far from complete since organizations have historically not been required to report data breaches, but attacks are on the rise according to the Privacy Rights Clearinghouse. A recent rule from the United States Securities and Exchange Commission should help clarify matters further by now requiring that organizations disclose material cybersecurity incidents they experience.Continue Reading on Coin Telegraph More

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    Ethereum co-founder praises X’s Community Notes for echoing crypto principles

    In December 2022, the social media giant formerly known as Twitter, now X, launched Community Notes. Since then, it has steadily grown in prominence, establishing itself as a cornerstone tool for the platform.Open-source in nature, Community Notes allows anyone to participate as a contributor. Though still recognized as being in its developmental pilot phase, the feature plays a central role in a burgeoning community dedicated to identifying and correcting misinformation on the microblogging platform.Vitalik Buterin remarked on the striking parallels between the tool and some blockchain projects. He praised its decentralized essence, the emphasis on community engagement, and its transparent coding structure.In a recent blog post, Buterin went on record to say that Community Notes serves as a “remarkably useful” tool, even when circumstances become fraught with contention.Buterin’s intrigue with Community Notes stems from its potential as a manifestation of “crypto values,” despite not originating from the cryptocurrency realm. “It might be the most fitting embodiment of ‘crypto values’ we’ve encountered in the mainstream arena so far,” he expressed.An interesting facet of Community Notes is its unique consensus-based operational procedure. Before a note gains approval and becomes visible to the audience, there has to be a mutual agreement among its contributors.The platform mandates a consensus for note validation, a process thoroughly detailed on their official site.Highlighting this consensus approach, Keith Coleman, X’s vice president of Product, showcased an excerpt from Buterin’s insights into crypto values. This acknowledgment garnered even more attention when CEO Elon Musk further shared Coleman’s post, casting a spotlight on Buterin’s thoughts to his vast array of followers.Buterin accentuated the decentralized aspect of the notes. He clarified that these annotations, which either add context or challenge assertions made on X, don’t stem from a singular authority. “The process is democratic, allowing any individual to draft and vote. The final decision regarding the display of these notes rests with an open-source algorithm,” he detailed.He also introduced the notion of “credible neutrality,” a term he coined in 2020, referring to a system that remains impartial and unbiased. In Community Notes, this neutrality represents its effort to remain unbiased and all-inclusive.Buterin also acknowledged that while Community Notes bears resemblance to the values of decentralization, it doesn’t quite match up to the standards set by decentralized social media, saying, “for those who may find fault with its operation, alternative viewing isn’t an option. However, for extensive applications, it’s likely the closest we’ll see in the foreseeable future.”This article was originally published on Crypto.news More

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    SwirlLend rugs on new Coinbase layer 2 Base as large number of scammers reported

    PeckShield reported in a post on X (former Twitter) on Aug. 16 that SwirlLend transferred around $289,500 worth of cryptocurrency from Base. It later transferred 94 Ether (ETH) from Linea as well, bridging the crypto to Ethereum. It then created a new token and laundered 253.2 ETH through the Tornado Cash crypto mixer.Continue Reading on Coin Telegraph More