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Cryptocurrencies in Australia and more in Quick News


Australian judge allows use of cryptocurrencies as collateral

As part of a defamation case before the New South Wales or NSW district court, Judge Judith Gibson of Australia allowed the use of cryptocurrencies as collateral.

“This is a recognized form of investment,” Gibson said of the cryptocurrency, also acknowledging its volatility, according to an Australian Associated Press report.

As part of the defamation case, the NSW court
stated that the prosecutor must place $ 20,000 AUD, or approximately $
13,000 USD, in a bank account guarded by the courts. If the part
accuser loses or separates, the funds would pay a portion of the fees
Defendant’s legal

Instead of a bank account, the court allowed the
Plaintiff use your cryptocurrency exchange account.

Given the instability concerns of the legal team
of the defendant, the plaintiff agreed to provide reports each month on the
value status of the crypto account.

The courts also demanded that the plaintiff notify
to the defendant’s lawyer if the value of the crypto account falls to the south of $
20,000 AUD.

“I can see the convenience of the defendant receiving a prompt notification of any drop in the value of the account,” Gibson said. “These are uncertain financial times.”

New Twitter investor can eliminate Bitcoin defender Jack Dorsey as CEO

Elliott Management Corp., a property activist investor
Billionaire Paul Singer has plans to shake the administration in

As Bloomberg reported on Saturday, Elliott has taken a large stake in the social media messaging platform and, according to “people familiar with the matter,” plans to eliminate Jack Dorsey as CEO.

The hedge fund has already nominated four directors for the
Twitter directory, sources said.

Dorsey is also the head of the payment firm Square and has become a favorite of the crypto community for its defense of Bitcoin. He recently integrated a feature on Twitter that would show a cryptocurrency icon if the #bitcoin tag was published.

Dorsey has also established a dedicated unit within Square to help advance Bitcoin technology. The Square Cash app offers Bitcoin services, which provided almost half of its revenue in the fourth quarter of 2019.

However, in his time as commander in chief of
Twitter has seen criticism about its management style, since the platform does not
It seems to be innovative enough and focuses on its service
central messaging

Since Dorsey led Twitter again in mid-2015, company shares have fallen 6.2%. Facebook, on the other hand, has increased more than 121% in the same period, according to the report.

Report suggests cryptocurrencies aggravate money laundering in Latin America

In the midst of a major economic recession, the countries of
Latin America (LATAM) is increasingly suffering from money laundering through the
cryptocurrencies, according to a new report.

Cryptocurrencies such as Bitcoin (BTC) have become an important tool for organized crime groups and hackers in LATAM countries, according to a February 27 report issued by the IntSights threat intelligence firm.

Entitled: “The dark side of Latin America,” the report states that LATAM countries top the list of the worst money laundering nations in the world, while local crypto-related businesses apparently lack the Know Your Customer regulations. (KYC) and Anti-Money Laundering (AML).

To issue the report, IntSights partnered with the important global blockchain security firm CipherTrace and the cyber security startup focused on LATAM Scitum.

Texas: The best place to extract Bitcoin

Alex Liegl, CEO of Layer1 Technologies, a US-based Bitcoin (BTC) mining company who recently announced its intention to repatriate 30% of Bitcoin’s hash power by 2022, has described that Texas offers miners the “cheapest energy in the world, at scale.”

Less than two weeks ago, Layer1
began mining operations at its facilities in western Texas,
bringing multiple 2.5 megawatt container platforms online.

Texas is the largest producer of
wind power in the United States, surpassing the second producers,
third and fourth combined. If Texas were an independent nation, it would be the
The world’s fifth largest wind power generator in the world.

Despite cheap electricity, many miners have avoided the Lone Star state due to its heat, with temperatures that regularly exceed 90 degrees during the middle of each year. To combat heat, the Layer1 mining apparatus comprises 20 by 8 shipping containers filled with miners that are suspended in a non-conductive liquid. “If they cooled by air, the processors would burn,” Liegl told Forbes.

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Venezuelan, student of the last semester of Social Communication. Attracted by the new technologies and development that they offer to humanity.

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