Iran Pitches 'Crypto Rial' to 8 Countries for Transactions, Avoiding US-Dollar Led Global Commerce Altogether

Sanction-hit Iran is negotiating the use of its state-backed cryptocurrency with eight foreign countries, according to a Tehran Times report.The Middle Eastern nation had its representatives met with their counterparts from Switzerland, South Africa, France, England, Russia, Austria, Germany, and Bosnia. According to Mohammad-Reza Modoudi, the acting head of Iran’s Trade Promotion Organization, the meeting took place in hopes to lure foreign investors into the country.At the same time, the representatives also discussed how Iran would settle its global trades while hit by an international banking sanction. Digital Rial, as Tehran Times reported, was Modoudi’s response.CIRCUMVENTING...

But here’s the kicker: with a global wave of regulations going into effect later this year, laundering cryptos will be increasingly harder to do. Cryptoinvest caught up with Dave Jevans, CEO of CipherTrace and co-chair of the Cryptocurrency Working Group at the APWG.org to find out what this means. LIKE TAKING CANDY FROM A BABY Of the total stolen funds in 2018, the majority came from exchanges and custodial services–more than $950 million. That was 3.6x more than in 2017–but why is this the case? CipherTrace Q4 Report “Many exchanges have only been operational for two years or less. They have not invested in the security technologies and practices needed to safeguard IT...

Crypto Whales Awaken, Plus Ripple and XRP, Tron, Ethereum, IOTA, Stellar, Litecoin, Monero: Crypto News Flash

From millions in XRP, Bitcoin, and Ethereum on the move to a new milestone on the Lightning Network, here’s a look at some of the stories breaking in the world of crypto. Crypto Whales Over the last 12 hours, large amounts of crypto are on the move. None of the transfers appear to be traders getting ready to sell. The biggest transactions are connected to Ripple, which owns about 60% of the total supply of XRP. In a single transaction, Ripple sent 40,000,000 XRP worth $12.9 million from its over-the-counter distribution wallet to a separate wallet owned by the company. 🚨 40,000,000 #XRP (12,906,525 USD) transferred from Ripple OTC Distribution wallet to #RippleTx:...

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