With the right tools, cryptocurrencies are a great ally in the fight against organized crime and money laundering, Europol said. This and more news in this practical daily summary so that you are always informed with the most recent events that occur within the crypto world.
Cryptocurrencies as tools against organized crime, according to Europol
📍Europol believes that cryptocurrencies can help in the fight against organised crime. The European Union Agency for Law Enforcement Cooperation, better known as Europol, has said that with the right tools, cryptocurrencies are an ally in the fight against organized crime and money laundering.
Praising several of the unique features of blockchain technology, Europol noted that both cryptocurrencies and blockchain offer an unprecedented opportunity to investigate organized crime. On several occasions, cryptocurrencies They have helped the police to dismantle money laundering networks and recover the stolen funds.
Europol acknowledged that there has been an increase in the use of cryptocurrencies in cases of money laundering, illegal trading, cyberattacks and other crimes. The increasing use of cryptoassets in crimes has been accompanying the global expansion of digital assets. However, using the right tools and analytical capacity, cryptocurrency funds can be traced on the multiple existing blockchains. This is thanks to the Absolute transparency and immutability offered by blockchain technology.
Europol also stressed the importance of regulating the cryptocurrency industry to ensure that cryptoassets are treated like any other existing asset for legal purposes, to enable authorities to monitor, seize, manage and convert them into fiat currency.
A lone Bitcoin miner pockets the reward for block #752.868
📍Another solo miner has mined an entire block of Bitcoin with just 270 TH/s of power. A new CK Pool Solo miner has mined a Bitcoin block solo, pocketing the network's block reward, currently 6,25 BTC, along with commission fees from the transactions recorded in that block.
In total, the solo miner collected a block reward of 6,347 BTC, worth just over $126.000 USD at the time of mining the block.
The Bitcoin network block mined alone was #752.868, making this the fifth Bitcoin block solved with low hash power this year.
In February, Bitcoin Magazine explained that while it is unlikely that a solo miner could beat the large mining pools, which possess exceptionally greater computing power, the truth is that this is a normal occurrence on the blockchain network and does not mean that something is wrong with Bitcoin or that there is a backdoor, as some might think.
Bitcoin farm prepares to start mining operations in Argentina
📍Bitcoin mining farm Bitfarms will begin operations in Argentina later this month. Bitfarms President Geoff Murphy reported that the 50 megawatt (MW) Bitcoin mining farm located in Río Cuarto (Argentina) will start mining bitcoins from the network at the end of this month.
Initially, Bitfarms’ new facility will have an operating capacity of 10 MW – one-fifth of its total installed capacity. Bitfarms’ new crypto mining farm is expected to be operational by mid-2023.
On Tuesday, Bitfarms reported on Twitter that it has mined a total of 8 BTC in the first 3.252 months of this year, which is worth about $62,24 million at press time.
The IDB Group issued its first blockchain bond in Colombia
📍Banking group IDB launched its first blockchain-based bond. As part of the regulatory sandbox that has been in place since last year in Colombia to explore the benefits of the crypto industry, the IDB Group issued its first blockchain-based bond together with the Davivienda bank, under the supervision of the country's Financial Superintendency.
According to the statement, the issuance of this first blockchain bond paves the way for promoting and encouraging the use of new technologies and decentralized finance in the country.
As reported by this media, in July of last year the IDB Group, together with Davivienda and Banco de la República, had announced their plans to launch their first real bond using the blockchain.
India could launch its CBDC this fiscal year
📍The Reserve Bank of India will launch a pilot to begin testing the digital rupee. According to local media, India's central bank is about to start a series of pilot tests for its CBDC digital currency, which is likely to be available this financial year.
Julia Demidova, director of Fidelity National Information Services (FIS), which will be one of the financial organisations participating in the digital rupee pilot, told MoneyControl that the Reserve Bank of India (RBI) will test its CBDC in the wholesale and retail market, alongside several banks and fintech companies from the public and private sectors.
Continue reading: Bellatrix has been activated, the last stop until The Merge of Ethereum
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