Crypto News | Crypto Malware Attack on Tesla

A lot has happened over the last 24 hours, so we have something completely different in store for you today. Here’s what we propose: a trip around the world in 80 seconds! Ready? Here we go! In the US, power hungry miners launched a crypto malware attack on the luxury automaker. The crypto malware exploited and siphoned computer processing power from Tesla’s cloud.

At the same time, according to Venezuelan president Maduro, the country’s crypto (the petro coin) had an amazing first day, raising $735 million. No news about who the investors were, while critics see the coin as “corruptocurrency”.

In Europe, Gibraltar is looking to regulate ICOs, but it will let the market determine where the line between legitimate and bad ICOs is. On a higher level, the European Commission is organizing a roundtable with representatives from central banks and major crypto market players to talk about crypto regulation. Italy already completed its talks. After public consultations with interested parties, merchants and crypto exchanges are expected to register and report to prevent financial crimes. Talking about financial crimes, Finland decided what to do with cryptocurrencies confiscated by law enforcement officials. Instead of exchanges, the coins are to be placed in cold storage and sold off at public auctions. Finland currently holds approx. 2,000 BTC in seized assets. Meanwhile, Finland’s neighbor, Russia, is surprisingly looking to become a champion for democracy. To increase transparency and dispel fears of tampering with votes, Moscow lets its citizens cast votes on Ethereum’s blockchain. 

Further to the east, crypto users in Bangladesh are now targeted by the police. The government does see BTC and co. as legal. Financial institutions and cybercrime investigators are on the hunt for traders. South Korea, on the other hand, is becoming more lenient on crypto traders. After threatening to ban cryptocurrencies, regulatory bodies had a meeting with exchanges and promised to encourage crypto trading in case of “normal transactions”.

In Japan, while the FSA is looking to inspect 15 unlicensed exchanges, several Japanese exchanges are uniting to form a self-regulatory group.

Lastly, 11 nations, with Japan at the helm, finalized a reviewed trade pact – the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). The US was left out after Trump’s tantrum. More bad news for Tesla and other US companies? Perhaps cryptocurrencies will let them avoid the regulations set by their centralized governments, or maybe they’ll all just get hacked by rogue miners again. Only time will tell.


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Author: Max Rothstein

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