BITCOIN

Authorities in the U.S. and elsewhere may try to compel tech firms like Apple and Google to exfiltrate private keys from devices and apps under their control, crypto entrepreneur Balaji Srinivasan warned on social media. The former executive of Coinbase believes this would be done to remit funds to cash-hungry governments. Tech Giants Apple, Google Could Extract Private Keys From iPhone and Android Devices, Srinivasan Fears If having sufficient bitcoin becomes the most important political issue in the coming years, bankrupt governments may attempt to get hold of some of people’s crypto, according to Balaji Srinivasan, former chief technology officer (CTO) at crypto exchange Coinbase. While a conventional 51% attack through mining isn’t something the U.S. could easily pull off now, it may try to compel Apple, Google and other tech companies “to hunt for private keys on the servers, devices, and browsers they control. And to remit any stolen funds to a cash-hungry federal government,...

A committee of British lawmakers has recommended regulating crypto trading as gambling. Viewing retail trading of cryptocurrencies as more akin to gambling rather than a financial service, the U.K. Treasury Committee stated that “Cryptocurrencies such as bitcoin have no intrinsic value and serve no useful social purpose, while consuming large amounts of energy and being used by criminals in scams, fraud, and money laundering.” UK Lawmakers Propose Regulating Crypto Like Gambling The U.K. Parliament announced Wednesday that the Treasury Committee has called for “consumer trading in unbacked crypto to be regulated as gambling.” The Treasury Committee is appointed by the House of Commons to examine the expenditure, administration, and policy of HM Treasury, HM Revenue and Customs, and associated public bodies. Eleven members of parliament (MPs) currently serve as members of the Committee. Citing a report titled “Regulating Crypto” which the Treasury Committee published on Wednesday, t...

Veteran investor Jim Rogers, who co-founded the Quantum Fund with billionaire investor George Soros, says the U.S. dollar’s time is coming to an end as more countries are seeking alternatives to the USD. “Many friends of America are moving, trying to find something to compete with and ultimately replace the U.S. dollar. It will happen. It has always happened,” he warned. ‘American Dollar’s Time Is Coming to an End,’ Says Rogers Famed investor Jim Rogers shared why he expects the U.S. dollar to lose its status as the world’s reserve currency in an interview with Sputnik, published Wednesday. Rogers is George Soros’ former business partner who co-founded the Quantum Fund and Soros Fund Management. “Many friends of America are moving, trying to find something to compete with and ultimately replace the U.S. dollar. It will happen. It has always happened,” the famous investor began. He was quoted as saying: America’s time is coming to an end. The American dollar’s time is coming to an...