More than a dozen suspects have been arrested in Taipei for their part in an alleged Taiwan cryptocurrency scam that is worth in the region of $8 million. The scam surrounds a cryptocurrency called IBCoin, which was supposedly used to part investors from their cash in Taiwan. Continue reading 15 Suspects Arrested in Alleged $8 Million Taiwan Cryptocurrency Scam
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When analyzing a project, the Eden Labs team looks for projects that do something unique or do it much better than its competition. Quality projects should be able to explain complex ideas simplified to their audience. In addition, projects that rely heavily on a broad user base have to have an incentive for the first ten people to join the network before a million users is ever achievable. No project will succeed if it requires a million participants to bring any value to its users. Continue reading Privacy Tokens Part 2: Monero Review
An official government report reveals details of a speech from Taiwan’s vice president of the executive branch of government Shih Jun-ji, speaking at a financial seminar on Friday when he touched upon the topic of cryptocurrencies and their possible impact on the island nation’s financial environment. The official called on the government to introduce measures to manage the cryptocurrency sector after underlining the soaring gains and development of cryptocurrencies in recent years. Shih was speaking at the Taiwan Academy of Banking and Finance when he elaborated on bitcoin, specifically, noting its market capitalization of $160 billion dollars (with bitcoin price pegged at $10,000) would be more than twice the entire financial budget of Taiwan’s government. Having done his homework, the official also added that the valuation of bitcoin, at $160 billion, would be equal to the total assets of all Taiwanese banks and onone-thirdf the country’s foreign exchange reserve. Put simply, the impact of bitcoin and other cryptocurrencies should not be underestimated, Shih said.