TL;DR: Welcome to In Case You Missed It (ICYMI), a daily crypto news update. FATF ruleset to be applied in 9 days. Alex Jones to pay for Pepe usage without permission. Legal & General partner with Amazon to manage pensions in blockchain. Facebook Project Libra will help crypto by lobbying for clear regulations. BitMEX warns of rising unauthorized attempts of accessing users’ accounts, and Jordan Peterson announces free speech platform, Thinkspot.
FATF Crypto Ruleset Implemented in 9 Days
The cryptocurrency ruleset proposed by the Financial Action Task Force (FATF), the biggest anti-money laundering organization in the world, will become active in just nine days. This means more than 200 countries will have to force cryptocurrency businesses and institutions to provide identity confirmation for anyone spending or transacting more than $1,000 dollars using cryptocurrencies. However, the biggest hit will be for governments needing to implement efficient institutions to enforce these laws, facing harsh penalties from the FATF if they fail to do so.
Alex Jones Site Infowars to Pay $15K for Unauthorized Pepe Use
Conspiracy and alt-right site Infowars has been ordered to stop using the meme character Pepe the Frog and his likeness. This was the result of a settlement reached with Matt Furie, the creator of Pepe. Infowars will have to pay all the revenue earned for the sale of some posters depicting president Donald Trump as Pepe The Frog ($14K), and also $1K to Matt Furie, who will donate to a non-profit called Save The Frogs. “Anyone who is going to make money using Pepe as an image of hate is not something Mr. Furie has ever authorized,” declared Louis Tompros, Furie’s lawyer.
Legal & General Partners with Amazon for Blockchain Pensions
Legal & General, a UK based insurer, partnered with Amazon Web Services to establish the first corporate pension system based on a blockchain. The company will use the system to handle bulk annuities and leverage the power of Amazon’s blockchain to maintain these contracts’ info, which can span over 50 years of data. This system will be only used outside the UK and US, but depending on the experience it will eventually include both. The deal means that Amazon will manage the blockchain, with L&G only providing data necessary to feed the system.
Facebook Project Libra Will Serve Cryptocurrencies By Lobbying for Clearer Regulation
A new article published on Decrypt is covering the potentially good side of a centralized cryptocurrency like Project Libra, Facebook’s latest crypto endeavor. The article states Facebook will use the weight of its money to lobby for clearer cryptocurrency laws, something that has been done before but without the influence and resources of a behemoth like Facebook. Having spent $13 million just in 2018 lobbying for their usual goals, and with the weight they are putting on Libra it is difficult to think they would do something similar, benefiting the whole cryptosphere.
BitMEX Warns of Rising Unauthorized Attempts to Access Users’ Accounts
BitMEX, an important cryptocurrency exchange, informed in its latest blog post about the rising number of unauthorized login attempts happening lately on their platform. As an answer to these attacks, they have made mandatory email notifications for logins and withdrawals. They state, “enabling 2FA on your account is the best and easiest way to protect yourself from these attacks.” Cryptocurrency hacks have been on the rise lately, and social engineering can be used to snag access to some accounts, a critical reason to add 2FA security to most accounts.
Thinkspot Free Speech Platform Announced by Jordan Peterson
Jordan Peterson, the renowned Canadian psychologist, announced a new free speech centered social network called “Thinkspot.” This new social network will protect users rights above all, differentiating itself from current leading sites like Facebook and YouTube known to ban users often for various reasons. “Once you’re on our platform we won’t take you down unless we’re ordered to by a US court of law,” Peterson declared on Joe Rogan’s podcast. The platform will also include monetization options, a nod to Patreon … the platform Peterson left due to free speech issues.
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