Cryptocurrency and the Banking System

The Effect of Cryptocurrency on the Banking System

Abstract What implications will cryptocurrency have on current banking systems?  The invention of cryptocurrency and its subsequent adoption may have a significant impact on banks and financial systems.  Cryptocurrency adoption has grown significantly since the creation of bitcoin in 2009.  Today, cryptocurrency adoption is substantial, and many reputable companies are involved in cryptocurrency.  Government regulation may mitigate some of the effects of cryptocurrency on the current banking system.  The adoption of Central Bank Digital Currencies may change and minimize the impact of cryptocurrencies on the current system.  Banks may adopt the new technology and offer cryptocurrency products and services.  In … Read more

Bitcoin

New Cryptocurrency Regulation is Expected Soon

“Tougher Rules are Coming for bitcoin and other Cryptocurrencies. Here’s What to Know,” written by David Gura (2021) for NPR, explains that Gary Gensler, the head of the Security and Exchange Commission (SEC), has a concern about cryptocurrency’s risks.  He intends to enact regulations to protect investors.  Because cryptocurrency markets have developed rapidly, lawmakers have not yet implemented regulation frameworks.  Policymakers are now actively considering what laws to pass.             Even though millions of people actively trade Bitcoin, other cryptocurrencies, and related assets, no clear trading rules or regulations exist.  This lack of regulation creates complications for companies in the … Read more

Cryptocurrency

Avoiding Cyber Threats When Dealing With Cryptocurrency

Cryptocurrencies have caught on in a pretty big way over the course of the last several years. However, there are still plenty of people who haven’t bought in, and some of the common reasons for this concern trust and security. From individuals to financial institutions, to governments, there’s a feeling that the supposed inherent security of cryptocurrencies just isn’t reliable. And even where new and emerging cryptos are concerned, there’s little faith that the kinks have been ironed out. Case in point, Facebook’s long-awaited crypto offering already has a trust problem. All of these concerns are understandable. There are established cybersecurity … Read more

Cybersecurity Threats on Forex Trading and Cryptocurrencies

Cybersecurity Threats on Forex Trading and Cryptocurrencies

Cyber Crime in Forex Trading While cyber-attacks have become a regular occurrence in the world today, catastrophic results have been recorded. The question is, is forex trading impenetrable to hackers? Or is forex trading immune from attackers, how secure is it? In a nutshell, forex trading just as any other online platform is prone to cyber-attacks which can have diverse effects. Cybercrimes in forex trading may include the following. One, a malicious hacker may gain access to passwords and usernames of forex trading accounts. Having this access, it is possible for them to undertake unauthorized transactions such as trading currencies … Read more

North Korean Cryptocurrency Scam Efforts - Marine Chain

North Korean Cryptocurrency Scam Efforts – Marine Chain

Experts think that the infamous North Korean hacker group Lazarus accounts for targeted strikes against five cryptocurrency exchanges. North Korea’s burgeoning cyber military seems to have especially honed its assault abilities to attack cryptocurrency-related organizations. In the face of mounting and crippling international sanctions, Pyongyang’s many hacker groups have adopted cryptocurrency-focused malicious attempts as an effective way of generating income to the reclusive country. Security specialists at Group-IB consider that the infamous North Korean Hacker group Lazarus accounts for targeting strikes against five cryptocurrency exchanges. According To security researchers in Recorded Future, even as Pyongyang’s ruling elite have gotten better … Read more