?? Chaindots Crypto Report (April 2024) ??
Hi everyone!
?? From Chaindots we want to share with you the most relevant news about the Crypto ecosystem in Latam and the world in terms of risks. We believe that the first step to mitigate risks and maximize opportunities is to stay updated on industry news. ??
BRAZIL: ??Brazilian Bank plans to use CBDC in revenue sharing program ??
Summary: Brazil's Central Bank plans to use a CBDC in a revenue distribution program, marking a milestone in the adoption of digital currencies by financial institutions.
Analysis: Brazil's Central Bank has announced plans to use a CBDC (Central Bank Digital Currency) in a revenue distribution program. Here are the key aspects:
Revenue Distribution Program: Brazilian public bank Caixa Econ?mica Federal plans to use a CBDC to distribute revenue to its customers. This marks an important milestone in the adoption of digital currencies by financial institutions.
The goal is to streamline payments and reduce costs associated with traditional transfers.
Implications for the Future: The successful implementation of this program could set a precedent for other banks and companies in Brazil and beyond.
In addition, it could accelerate the overall adoption of CBDCs in the region and foster financial innovation.
Regulation and Trust: The initiative also highlights the importance of regulation and the need to establish a sound legal framework for digital currencies issued by central banks.
In summary, Brazil is taking significant steps towards the adoption of CBDCs, and Banco Rendimento's revenue sharing program is a promising example of its real-world application.
View more: https://caixanoticias.caixa.gov.br/
LATAM: ??Latin American Company Files Three New Blockchain Patents??
Summary: Koibanx, the Latin American company, has filed three new blockchain-related patents that promise to transform the way transactions are conducted in the financial region.
Analysis: Koibanx, through a press release, has reported the filing of three new international patents for Blockchain-based transactional technology applied to the financial system with the Patent Cooperation Treaty (PCT).
The patents filed are:
1. Simplified Tokenization: Its framework for tokenization of financial assets enables the transaction of financial instruments as digital assets on blockchains without the need to program smart contracts. The low-code interface facilitates the mass adoption of these assets in the financial system.
2. Efficient Settlement: Automated clearing and settlement system reduces costs and ensures transparency in account reconciliation.
An efficient alternative to the traditional financial mechanism.
3. Personalized Loyalty: Through a behavioral analytics engine, they generate transactional rewards in the form of web3 assets according to the user's profile.
These patents could have a significant impact on the industry, especially in Latin America. Legal protection of these innovations could foster adoption and confidence in blockchain-based solutions.
The filing of these patents reflect the growth and maturity of the blockchain ecosystem in the region. These innovations are expected to drive collaboration and competitiveness in the Latin American market.
View more:
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PARAGUAY: ?Paraguay proposes temporary ban on cryptocurrency mining?
Summary: Paraguayan lawmakers have proposed a bill to temporarily ban crypto mining and related activities in the South American nation.
Analysis: Given that illegal mines steal energy and affect the electricity supply, generating serious economic damage to the National Electricity Administration (ANDE) and affecting the population with constant power outages, Paraguayan lawmakers introduced a bill to temporarily restrict the activity.
The ban would last 180 days or until new laws are enacted and sufficient power is guaranteed for the miners without affecting other users of Paraguay's electricity system.
Cryptomining in Paraguay has experienced a significant boom in recent years, especially in cities where major population centers are concentrated. This growth is largely due to the country's abundant hydroelectric power, which is harnessed to power mining operations.
Paraguay has been working on the regulation of cryptocurrencies and cryptocurrency mining. In July 2022, Paraguay's Senate passed a bill seeking to regulate the mining, marketing, trading, brokering, exchange, transfer, custody and administration of cryptoassets. However, the president of Paraguay vetoed this bill in August 2022. Despite this veto, cryptocurrency mining continues to be an activity that is increasing in number in Paraguay, although mining operations are operating outside the law.
ARGENTINA: ????? Worldcoin was imputed and could be fined up to 1000 million Argentine Pesos??? ??
Summary: After its controversial iris scanning campaign, where people give their personal data in exchange for a sum of money in cryptocurrencies, the Province of Buenos Aires decided to charge the company for alleged abusive clauses.
Analysis: Since last year, stands owned by this company have been installed in different cities offering a sum of virtual money, equivalent to 60 dollars per person, in exchange for their biometric data, taken by scanning the face and iris.
The Buenos Aires authorities also noted contradictions between the information reported by the company itself and the information obtained from inspections carried out in different areas of the Province. "After the inquiry, the company did not respond in a satisfactory manner and incurred in contradictions, such as the scanning of biometric data of minors", informed the Ministry.
Among the various abusive clauses detected, there are those that enable the company to interrupt the service without any type of repair or reimbursement. And also those that oblige users to waive collective claims and establish that the applicable regulations, for residents in Argentina, are foreign laws, in this case, those of the Cayman Islands, in addition to indicating that any disputes should be resolved through arbitration in California, United States, in violation of what is expressly established by local regulations.
WorldCoin is an international company that bills itself as a non-profit organization, strikingly based in the Cayman Islands. According to its official website, its goal is to "create more inclusive and equitable global digital economy and governance institutions."
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GLOBAL: ???? The FBI has issued a warning about the evolving Akira ransomware threat????
Summary: The U.S. Federal Bureau of Investigation (FBI), the Cybersecurity and Infrastructure Security Agency (CISA), the National Cyber Security Center of the Netherlands (NCSC-NL) and Europol's European Cybercrime Center (EC3) have issued a joint warning about the Akira ransomware.
Analysis: The year-old group is responsible for attacks on more than 250 enterprises and critical infrastructure entities since March 2023, primarily in North America, Europe and Australia.
According to the warning, Akira gains initial access through pre-installed virtual private networks (VPNs) that lack multifactor authentication (MFA). The ransomware then proceeds to extract credentials and other sensitive information before locking the system and displaying a ransom note.
The ransomware group demands bitcoin payments from victim organizations to restore access. This type of malware often disables security software after initial access to avoid detection.
Some of the threat mitigation techniques recommended in the advisory include implementing a recovery plan and MFA, filtering network traffic, disabling unused ports and hyperlinks, and encrypting the entire system.
"The FBI, CISA, EC3 and NCSC-NL recommend continually testing your security program, at scale, in a production environment to ensure optimal performance against MITRE's ATT&CK techniques identified in this advisory," the agencies conclude.
Director de Regulatorio & PBCyFT en Summons Abogados | Criptoactivos | MiCA | AML&CTF Compliance Consultant | Abogado | Certified Financial Crime Especialist (CFCS - ACFCS).
10 个月Very interesting insigths, thanks for this report Chaindots team !!!