Daily Crypto, Finance and Tech News Summary – April 4, 2023

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Mysterious Entity May Be Collecting BTC Users’ IP Addresses: Bitcoin Developer

A prominent Bitcoin developer has raised concerns about a mysterious entity that might be collecting IP addresses of Bitcoin users. The developer suggests that this entity could be monitoring and cataloguing user data, potentially violating privacy rights. The community is urged to remain vigilant and employ privacy-enhancing tools like VPNs and Tor to mitigate risks. The implications of this potential breach could be far-reaching, and Bitcoin users must take necessary precautions to protect their identities and assets in this rapidly changing digital landscape. Read more here

USD Coin’s Depeg Laid Bare the Risks Traditional Finance Poses to Stablecoins

The recent de-pegging of USD Coin (USDC) from the US dollar has exposed the inherent risks that traditional finance poses to stablecoins. This unprecedented event highlights the need for stablecoin issuers to carefully manage their collateral assets and the importance of transparency in the rapidly evolving world of digital currencies. The incident has prompted calls for increased scrutiny and regulation of stablecoin issuers to prevent potential market disruptions and ensure that they maintain adequate reserves to back their assets. Read more here

Policymakers Didn’t Regulate Crypto Because They Thought It Would Die: Barclays’ Head of Digital Policy

Barclays’ Head of Digital Policy reveals that the lack of cryptocurrency regulation in the past was primarily due to policymakers believing that the technology would eventually fade away. This oversight has left regulators scrambling to catch up as the cryptocurrency industry grows and evolves. In response, governments and regulatory bodies are now working to develop comprehensive frameworks to govern digital assets and protect investors while promoting responsible innovation in the sector. Read more here

US Government Dumps Seized “Silk Road” Bitcoin

The US government has recently auctioned off a large amount of Bitcoin seized from the infamous Silk Road marketplace. This action underscores the government’s ongoing efforts to clamp down on criminal activities associated with cryptocurrencies while also demonstrating the continued use of digital assets in illicit transactions. The proceeds from the auction will be used to fund various government initiatives, but the sale also raises questions about the ethics of profiting from the disposal of assets tied to criminal activities. Read more here

RESTRICT Act: An Insanely Broad Ban on TikTok, VPNs and More, that can destroy your privacy

The proposed RESTRICT Act could have far-reaching implications, potentially leading to an overly broad ban on popular platforms like TikTok and VPN services. Critics argue that the legislation’s vague language could lead to unintended consequences, stifling innovation and infringing on personal privacy rights. Civil liberties advocates and technology experts are urging lawmakers to reconsider the scope of the proposed legislation and ensure that it targets specific threats rather than imposing blanket restrictions on legitimate technologies and platforms. Read more here

Wrap Up

The dynamic and ever-evolving landscape of the cryptocurrency and technology sectors show the importance of decentralisation and independence. This is a topic that is at the constantly at the forefront of our minds with continual development of the SplitChain network.

Moreover, the ongoing debate over legislation like the RESTRICT Act showcases the significance of striking a balance between technological advancements and personal privacy rights.


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