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Tag: Transactions

UAE Launches Blockchain Initiative to Process 50% of Govt. Transactions by 2021

Twitter Facebook LinkedIn CCN is expanding. Are you our next full-time journalist from the West Coast USA? Send us your CV and examples here.The government of the United Arab Emirates has unveiled two national initiatives focusing on strengthening the position of the country globally in emerging technologies such as blockchain and artificial intelligence. One of…

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Waves Blockchain Processes 6.1 Million Real-Time Transactions

The race to build the best public blockchain will be won by those that would scale in line with volume. On a Sunday, a blockchain project realistically did it, though for 24 hours. Waves Platform, comprising of a digital ledger project and decentralized exchange (DEX), processed 6.1 million real-time transactions in a stress test. As it…

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IRS Advised to Provide Better Guidance on Cryptocurrency Transactions

The Information Reporting Program Advisory Committee is a body which was established before the Internet was a major consumer network and is a result of federal government reorganization and, importantly, efforts to modernize and improve the IRS brought about by the Omnibus Budget Reconciliation Act of 1989. The committee periodically suggests actions the IRS needs…

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Mastercard Thinks Blockchain Can Simplify B2B Transactions in New Patent

Financial services giant Mastercard has invented a blockchain system that it believes can simplify business-to-business (B2B) transactions in a high-volume enterprise environment. That system is outlined in a series of three patent applications filed by the New York-based multinational firm in March, made public on Thursday by the US Patent & Trademark Office (USPTO). Writing…

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Russian Watchdog Looks at Tracking Cryptocurrency Transactions

The Federal Financial Monitor Service, or Rosfinmonitoring, has reached a limited liability company to develop an analytical tool for tracking cryptocurrency transactions, BBC Russia reported. The Russian watchdog requires the addition of a crypto-tracking tool to an anti-financial crime system. The method as a whole would allow the money police to arrange suspicious financial activities into…

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China’s Crackdown Leads to WeChat Blocking Crypto Transactions

In support of the Chinese government’s tightening clampdowns on local crypto-industry, a mobile payment giant has decided to bar virtual currency transactions on its platform. WeChat Pay on Friday issued a statement stating that they would prohibit users from sending or receiving funds related to cryptocurrencies on its social media platform. The Tencent-backed firm cleared…

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Binance Suspends Trading Temporarily Due to ‘Irregular’ SYS Transactions

Binance, the world’s largest cryptocurrency exchange, suspended trading as a temporary measure on Wednesday after spotting ‘irregular’ transactions of SYS tokens on its platform. The exchange said it had temporarily suspended trading and withdrawals for “system maintenance” following the unusual trading patterns of Syscoin (SYS) on its platform. Binance has since resumed trading activities and it…

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Bitmain Is Now One of the 21 Entities Processing EOS Transactions

Controversial cryptocurrency company Bitmain has become one of the 21 entities processing transactions on the nascent EOS network. The China-based firm, best known for producing cryptocurrency mining hardware and supporting a big-block approach to Bitcoin scaling, on Tuesday received a sufficient number of votes to become an active EOS block producer, which allows it to…

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