TL;DR: Welcome to In Case You Missed It (ICYMI), a daily crypto news update. 12,000 BTC moving from PlusToken related addresses. Litecoin Pool allows miners to voluntarily donate to the Litecoin Foundation. Chainalysis accepted $10 million from US federal government contracts. FINMA establishes stricter AML/KYC controls in Switzerland. Blockstack suspends App Miner program, and BitcoinCashNotes launches a custom note generator.
PlusToken Addresses Moving 12,000 BTC
12,000 BTC from addresses related to PlusToken, one of the biggest cryptocurrency scams ever, started to move recently, raising fears of a possible market dump. The amount of BTC is the equivalent of all the BTC mined in a week, and therefor could impact prices. While six suspects of the PlusToken scam were apprehended in Vanuatu, this sudden movement of BTC is a clear sign there are people running the scam that still remain at large, trying to capitalize on the stolen BTC.
Litecoin Pool Now Allows for Voluntary Dev Donations
— Charlie Lee [LTC⚡] (@SatoshiLite) February 9, 2020
Charlie Lee, the founder and creator of Litecoin, announced Litecoin Pool offers now the possibility of donating any percentage of mining rewards to the Litecoin Foundation to support the development of the currency. Litecoin Pool is a Litecoin-only mining pool with more than 5,000 users contributing with 27,210 GHs to the network. This is a clear move that seeks to emulate the BCH mining development fund discussion for the Litecoin cause, but making it voluntary and letting miners decide which percentage of their rewards are allocated toward the Litecoin Foundation.
Chainalysis Accepted $10 Million From Federal Contracts
Chainalysis, the blockchain analysis firm, has taken more than $10 million dollars from different agencies of the US government, and this number will keep increasing, according to a report from CoinDesk. The biggest spender is (not surprisingly) the IRS, who has spent almost $4 million during a 5 year relationship with the company, followed by ICE. However, all this money has been spent in a vague fashion, with the contracts signed being short on details and only mentioning one software product called “Reactor,” the software that helps Chainalysis track and flag illicit transactions.
FINMA Will Bring Stricter Regulations to Cryptocurrency Transactions in Switzerland
FINMA, the Financial Market Supervisory Authority of Switzerland, announced new stricter AML and KYC measures for cryptocurrency transactions in the country. The regulator proposed lowering the threshold of anonymous transactions from 5,000 francs to 1,000 francs, meaning transactions above this amount will require client identification. FINMA reported all these changes are being made to implement “the international standards approved in mid-2019 and acknowledging the heightened money-laundering risks in this area.” FINMA is one of the first regulators to change their rules to comply with the FATF.
Blockstack Pauses “App Mining” Program
Blockstack, the blockchain-based ID company, paused its App mining program, a pilot program of paid developers to build decentralized apps using its technology, due to several challenges encountered with its execution. While the program helped grow their app numbers from 46 to 400 in a short period, it has not been enough to resolve distribution and decentralization issues. “Blockstack PBC plans to continue exploring ways in which other independent entities can use this allocation for a different, upgraded version of App Mining in 2020 and beyond,” they declared.
BitcoinCashNotes Launches User-Generated Custom Notes
Introducing: User Generated Bitcoin Cash Notes!
Generate, Print and Customize your own Bitcoin Cash Notes for free!
– Face image
— bitcoincashnotes.com (@bchnotes) February 10, 2020
BitcoinCashNotes, the physical Bitcoin Cash notes company, launched a online app to allow users to generate personalized Bitcoin Cash paper notes. Users can choose the color and denomination of the note, the face image that will be depicted, and even the language of the note (Spanish and English currently available). BitcoinCashNotes also offers pre-designed high-quality notes, depicting important personalities within the Bitcoin Cash ecosystem. The online note designer is free and available on their page.
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