Microsoft’s Security Endpoint Threat Report 2019– India’s Cyber-security structure
Winvestment
by W-Investment
3y ago
Recently, Microsoft released its Security Endpoint Threat Report 2019 that covered statistics on cyber threats and resilience around the Asia-Pacific (‘APAC’) territory. It captured data from developed and developing countries, with results showing that developing nations are more vulnerable to threats despite a fall in their overall encounter rates. APAC has a more-than-average encounter rate for ransomware and malware, that is, 1.7 and 1.6 respectively compared to the rest of the world. In terms of cryptocurrencies and malware attacks, India recorded a cryptocurrency-mining attack encounter ..read more
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RUSSIA’S LAW ‘ON DIGITAL FINANCIAL ASSETS’
Winvestment
by W-Investment
3y ago
Introduction The State of Duma adopted the ‘On digital financial assets, digital currency and on amendments to certain legislative acts of the Russian Federation’ bearing no. 419059-7 (‘the Bill’) in the second reading on July 21, 2020. The Bill will become effective in 2021, however, it is yet to be assented by the Federal Council and the President to become a law. Defining digital currency As per the Bill, the Central Bank of Russia will be in charge to determine the characteristics of digital financial assets (“DFA”). The Bill reportedly also defines digital currency as collection of electr ..read more
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What is DeFi and what it implies?
Winvestment
by W-Investment
3y ago
DeFi, or simply put decentralised finance is based on blockchain to provide a transparent ecosystem for an open and a decentralised banking. The first-ever cryptocurrency, bitcoin was invented amidst the biggest financial crisis for the purpose of decentralised finance. The notion was to create an alternative to traditional finance where trust is placed in the banking institutions and the government. Ethereum followed its suit, however with a much larger set of applications like smart contracts, DAOs, etc. In a DeFi network, the users are in control rather than a central authority. Therefore ..read more
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India’s Blockchain Framework -Where do we stand right now?
Winvestment
by W-Investment
3y ago
Recently, Prime Minister Modi in his address at the India Ideas Summit by the US-India Business Council highlighted blockchain to be an ‘opportunity in frontier technology’ and the country being a haven for investors around the globe. As this news provides a sense of revived hope in terms of how blockchain and cryptocurrencies would look in the Indian landscape, let us go down the path to see how our responses in the past have been, for adapting towards such technologies as part of our the economic structure in the country, alongside our action towards the usage of cryptocurrencies in the coun ..read more
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Blockchain roadmap for Australia- What can India learn?
Winvestment
by W-Investment
3y ago
The Government of Australia has always had a positive attitude towards cryptocurrencies and blockchain. Earlier this year, the Australian Supreme Court had also ruled on the classification of cryptocurrencies as property. To take decentralised empowerment forward, the Department of Industry, Science, Energy and Resources in Australia had released the National Blockchain Roadmap (‘Roadmap’) for public comments from various stakeholders. According to the Australian government, the value derived from blockchain in business is estimated to be about USD 3 trillion by 2030. To leverage the most out ..read more
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Office of Comptroller of the Currency allows crypto custody by national banks in US
Winvestment
by W-Investment
4y ago
Cryptocurrencies legislations have always been in an evolving stage in the United States (‘US’). The US has been supportive of cryptocurrencies and decentralised ledger technology (‘DLT’) based enterprises. Earlier, New York issued BitLicenses to help support early stage cryptocurrencies businesses. Taking the facilitation on cryptocurrencies forward, the Office of Comptroller of the Currency (‘OCC’) issued a letter on July 22, 2020 (‘letter’) clarifying national banks’ and federal savings associations’ authority to provide cryptocurrency custody services for customers. The letter described t ..read more
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E-Privacy advisory by EU in consideration of Covid 19
Winvestment
by Shivani Agarwal & Samaksh Khanna
4y ago
European regulatory authorities have always been active in restructuring privacy guidelines. Personal data has become one of the major source of revenue for many companies and to keep it from being misused, to preserve the integrity of every citizen in the European union (‘EU’), the Council of EU has released an ePrivacy proposal on July 6, 2020. The ePrivacy proposal has been set out for discussions under the Regulation on Privacy and Electronic Communications. The proposal is set out for discussions to ascertain and relook at the rules for processing electronic communications and for process ..read more
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Wash-Trading Practices in Cryptocurrency Exchanges
Winvestment
by Shivani Agarwal & Samaksh Khanna
4y ago
Recently, the Ontario Securities Commission (‘OSC’) accused CoinSquare, a Canadian crypto-trading platform for “Wash-Trading”. According to the OSC, Coinsquare wash traded , between July 17, 2018 and December 4, 2019, when approximately 840,000 wash trades were conducted on the platform with an aggregate value of around 590,000 Bitcoin (worth over 5.4 billion USD). A public hearing before the OSC Secretary under Sections 127 and 127.1 of the Securities Act, RSO 1990, c S.5 has been held in order to decide a course of action, with a probable outcome including a settlement between the two partie ..read more
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Deciphering Schrems II
Winvestment
by Shivani Agarwal & Samaksh Khanna
4y ago
Paper available for download at- Deciphering-Schrems-II-_W-investmentDownload 1. INTRODUCTION The case of Data Protection Commissioner (“DPC”) v. Facebook Ireland Limited and Maximillian Schrems (“Schrems II”) has been pivotal for enterprise data transfer processes, specially from the European Union (“EU”) to the United States (“US”). Enterprises, across the globe, have for a time and since the inception of the General Data Protection Regulation (“GDPR”), been making the use of Standard Contractual Clauses (“SCC”) for transferring data outside the EU. The Schrems II judgment, Case C-311/1 ..read more
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What does the Twitter hack mean for regulation of cryptocurrencies?
Winvestment
by Shivani Agarwal & Samaksh Khanna
4y ago
Twitter’s CEO Jack Dorsey has always endorsed bitcoins. Dorsey has also founded a payments company called Square Crypto to initiate development of cryptocurrencies and spread awareness of what he considers the currency of the future. However, the twitter hacked placed on July 16, 2020, may change the impressions of how cryptocurrencies are perceived. The twitter hacked has raised regulators eyes into considering a more stringent regulations for money laundering norms and financing of illegal activities. Earlier this year in April 11, 2020 the European Parliament has also suggested broadening t ..read more
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