US Financial Regulator Warns Against Strict Cryptocurrency Rules

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Cryptocurrencies are prevalent in South Africa and gaining traction as an alternative on the web currency. This article, for that reason, illustrates the use of cryptocurrency in the facilitation of criminal activity through the assessment of current literature. Lastly, an exposition of the crimes is presented in order to demonstrate how cryptocurrencies can be utilised as a tool and target in the facilitation of cybercrime. Concomitantly, cryptocurrencies are also establishing themselves as an ideal currency for cybercriminals due to their unregulated and pseudo-anonymous nature. Cryptocurrencies can be made use of either as a tool or target in the facilitation of cybercrimes, including cyber dollars laundering, cyber extortion, phishing, hacking, cyber fraud and other monetary crimes such as Ponzi and investment scams. Given the extremely technical, decentralised and thus complicated nature of cryptocurrencies, it is crucial for criminologists to have a basic understanding of the modus operandi utilized in ‘cryptocurrency crime’. This article starts with a brief discussion on the history of cryptocurrencies. The technical underpinnings of a cryptocurrency are thereafter explained in order to contextualise their use in the facilitation of cybercrime.

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Antivirus computer software pioneer John McAfee was found dead in his jail cell in Spain on Wednesday, officials mentioned, shortly following a court approved his extradition to the United States where he was wanted for tax evasion. A spokeswoman for the Catalan branch of the legal body which oversees Spain's courts, the General Council of the Judiciary (CGPJ), also confirmed that McAfee had been identified dead in his cell at around 7:00 pm (1700 GMT) of an apparent suicide. McAfee has been in jail in Spain given that he was arrested at Barcelona airport in October 2020, just as he was about to board a flight to Istanbul. He is alleged to have deliberately failed to file tax returns among 2014 and 2018, despite earning millions from consulting work, cryptocurrencies and selling the rights to his life story. The 75-year-old was discovered dead in his cell in the Brians two penitentiary close to Barcelona "apparently from suicide", a spokeswoman for the prison system in the northeastern Catalonia region said.

They reported that the Bitcoin market place exhibits periods of efficiency alternating with periods where the price dynamics are driven by anti-persistence. On this aspect, a study by Feng et al. Nonetheless, in the debate (or controversy) about cryptocurrencies, crucial factors that have been relatively underappreciated are their determinants and predictability. Having said that, Bariviera et al. 2017) reported proof of informed trading in the Bitcoin industry prior to large events, which led them to argue that informed trading could be valuable in explaining Bitcoin behavior nonetheless, this location requires additional exploration, which is the objective of the present study. 2018) reported that the international economic pressure index could be helpful for predicting Bitcoin returns. A later study by Bouri et al. They found that Hurst exponents changed substantially in the course of the initial years of Bitcoin’s existence, tending to stabilize in current instances. 2017), compared the dynamics of Bitcoin and normal currencies and focused on the evaluation of returns using diverse time scales.