Report: Terrorists Do Not Rely On Cryptocurrencies (Yet)
A report by the Rand Corporation on the “Terrorist Use of Cryptocurrencies” suggests that crypto does not play a major role in terrorism yet. The Rand Corporation is a think tank that counsels the military. The report shows that cryptocurrencies”are not well matched with the totality of features that would be needed and desirable to terrorist groups”. However, the researchers also concluded that with growing adoption and better anonymity features terrorists could favor certain cryptocurrencies in the future.
Bitcoin Surges Above $5000 Temporarily – Altcoins Follow
Bitcoin and many Altcoins had a strong performance this morning. The price went up by almost $900 in less than two hours. For a while, one Bitcoin traded for more than $5000 on some exchanges. However, in the following hours, that price declined again and currently Bitcoin trades for $4850 globally. In Europe a Bitcoin currently trades for about €4670.
Russian Banks Join China’s Version of Swift
Several Russian banks have joined the China International Payments System (CIPS). The system is an alternative to SWIFT (Society for Worldwide Interbank Financial Telecommunication). Formally SWIFT is an independent company situated in Brussels, Belgium. However, the company effectively serves as a US American player. SWIFT always carries out US-American orders to cut banks from certain countries from participation. Among them are Russia, Venezuela, Iran, Syria and China. The subject is relevant to the crypto space. As Bitcoin and many Altcoins represent alternatives to the current monetary system. Especially, Ripple and Stellar offer solutions that seek to replace SWIFT.