Jack Mallers Just Made Monetary History… again.

Monetary history has been made. “With @bitnob_official’s lightning network integration, we now have instantly, non reversible, and free remittances of any size to send to and from the United States, Nigeria, and Ghana” Watch Jack Mallers video below of 10$ in his bank account becoming spendable NGN in seconds. There was no stupid bank regulation throughout this process, it happened in seconds…

Another day, another sh*tcoin hack. Japans liquid global exchange has been hacked, totaling up to about $90 million in crypto. They are promising regular updates and in the meantime have suspended deposits and withdrawal… another not your keys not your coins moment.

Garry Tan on ETH vs BTC says “being a bitcoin Maximalist is like being a commodity trader refusing to see other companies and markets…” Adam Back respond perfectly pointing out that there is not even a Bitcoin spokesperson debunking sh*tcoins because Bitcoins actually decentralized… with NO spokesperson

BTC Daily News Sources

El Salvador’s Road to Currency Chaos and Economic Collapse

In the middle of the night of June 8, El Salvador passed a law that made Bitcoin legal tender. The Bitcoin Law is the brainchild of El Salvador’s populist president, Nayib Bukele. Its most controversial feature is Article 7, which stipulates that every economic agent in El Salvador must accept Bitcoin as payment for goods and services. Accordingly, after September 7, Bitcoin will not only be legal tender, but forced tender. To make this radical change more palatable, the government promises to put $30 into the digital wallet of each Salvadoran who downloads the government’s cryptocurrency app. https://www.nationalreview.com/2021/0…

U.S. Halted Dollar Shipments to Afghanistan to Keep Cash Out of Taliban’s Hands

WASHINGTON—The Biden administration last week canceled bulk shipments of dollars headed for Afghanistan as Taliban fighters were poised to take control of the capital city of Kabul, part of a continuing scramble to keep hundreds of millions of dollars out of the hands of the terrorist group, according to people familiar with the matter.

The U.S. is also blocking Taliban access to government accounts managed by the Federal Reserve and other U.S. banks and working to prevent the group’s access to nearly half-billion dollars-worth of reserves at the International Monetary Fund, according to those people. https://www.wsj.com/articles/u-s-halt…

OnlyFans to ban adult material after pressure from payment processors

OnlyFans, the subscriber-only website synonymous with pornography, has announced it will ban adult material from the site after pressure from its payment processors.

The company will continue to allow some posts containing nudity but “any content containing sexually-explicit conduct” will be banned, with the site instead focusing on more mainstream content.

The London-headquartered outlet has exploded in popularity during lockdown, bringing in billions of pounds of revenue as more than 130 million users signed up to subscribe to content or pay to chat with “creators”. Although OnlyFans insists it has a wide range of people creating material for the site, ranging from chefs to yoga instructors, by far the most popular content on the site is pornography. https://www.theguardian.com/uk-news/2…

Updates to Binance Services

Binance reviews its products and services on an ongoing basis to determine changes and improvements in light of evolving global compliance standards. To enhance user protections and provide a safe crypto environment for everyone, Binance is making the following changes:

  • Effective immediately, all new users are required to complete Intermediate Verification to access Binance products and service offerings, including cryptocurrency deposits, trades and withdrawals.
  • Existing users who have not yet completed Intermediate Verification will have their account permissions temporarily changed to “Withdraw Only”, with services limited to withdrawal, order cancellation, position close, and redemption. This will be carried out in phases to minimise user-experience disruption, from now through 2021-10-19 00:00 AM (UTC). Existing users will be informed directly with more details. Once users complete the Intermediate Verification, they will be able to resume full access to Binance products and services.

https://www.binance.com/en/support/an…

Anti-money laundering: The world’s least effective policy experiment? Together, we can fix it

This paper uses anti-money laundering as a case study to illustrate the benefits of cross-disciplinary engagement when major policymaking functions develop separately from public policy design principles. It finds that the anti-money laundering policy intervention has less than 0.1 percent impact on criminal finances, compliance costs exceed recovered criminal funds more than a hundred times over, and banks, taxpayers and ordinary citizens are penalized more than criminal enterprises. The data are poorly validated and methodological inconsistencies rife, so findings cannot be definitive, but there is a huge gap between policy intent and results. https://www.tndfonline.com/doi/full/…

Daily Fail Sources

Japan’s Liquid Global Exchange Hacked; $90M in Crypto Siphoned Off

Japan’s Liquid Global exchange said it has been hacked, and has suspended deposits and withdrawals.

  • According to a tweet on Thursday, the exchange said its warm wallets were compromised and that it was moving digital assets offline.
  • While the total amount stolen has yet to be determined, the value taken in bitcoin, ether, ripple, tron, and others could be upward of $90 million, Eddie Wang, senior researcher at OKLink, told CoinDesk.
  • “We are currently investigating and will provide regular updates,” the exchange said in the tweet. “In the meantime, deposits and withdrawals will be suspended.”

https://www.coindesk.com/liquid-hack-…

Epic Meme by, @fullmetalhodl

Updates

UMBREL V0.4.1 RELEASED

Umbrel 0.4.1 brings LND v0.13.1, along with the latest versions of apps including Mempool, Specter Desktop, BTCPay Server, Samourai Server to the app store, visual improvements for Windows/Linux users, better Tor performance, persistent lnd.conf modifications, Tor access bugfix for Nextcloud, celsius/fahrenheit switch for CPU temperature, and more. https://github.com/getumbrel/umbrel/r…

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New Simply Bitcoin episode – Jack Mallers Just Made Monetary History… again – Cointhread
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