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Category Archives: Cryptocurrency

Are blockchains decentralized? Unintended Centralities in Distributed Ledgers

A new Trail of Bits research report examines unintended centralities in distributed ledgers – “Blockchains can help push the boundaries of current technology in useful ways. However, to make good risk decisions involving exciting and innovative technologies, people need demonstrable facts that are arrived at through reproducible methods and open data. We believe the risks inherent in blockchains and cryptocurrencies have been poorly described and are often ignored—or even mocked—by those seeking to cash in on this decade’s gold rush. In response to recent market turmoil and plummeting prices, proponents of cryptocurrency point to the technology’s fundamentals as sound. Are they?

Over the past year, Trail of Bits was engaged by the Defense Advanced Research Projects Agency (DARPA) to examine the fundamental properties of blockchains and the cybersecurity risks associated with them. DARPA wanted to understand those security assumptions and determine to what degree blockchains are actually decentralized. To answer DARPA’s question, Trail of Bits researchers performed analyses and meta-analyses of prior academic work and of real-world findings that had never before been aggregated, updating prior research with new data in some cases. They also did novel work, building new tools and pursuing original research. The resulting report is a 30-thousand-foot view of what’s currently known about blockchain technology. Whether these findings affect financial markets is out of the scope of the report: our work at Trail of Bits is entirely about understanding and mitigating security risk…”

Pete Recommends – Weekly highlights on cyber security issues, June 11, 2022

Via LLRX – Pete Recommends – Weekly highlights on cyber security issues, June 11, 2022 – Privacy and cybersecurity issues impact every aspect of our lives – home, work, travel, education, health and medical records – to name but a few. On a weekly basis Pete Weiss highlights articles and information that focus on the… Continue Reading

Stablecoins: Legal Issues and Regulatory Options

CRS Legal Sidebar – Stablecoins: Legal Issues and Regulatory Options, Part 1 – June 9, 2022 -“…stablecoins—cryptocurrencies whose value is pegged to a reference asset like the U.S. dollar.While stablecoin issuers attempt to maintain these pegs in different ways, most of the regulatory attention has focused on coins that are putatively backed with reserves of… Continue Reading

DOJ Reports calls for more international cooperation, coordination on crypto law enforcement

The Block: “A new report from the Department of Justice proposes more international cooperation among law enforcement agencies on the crypto and blockchain front. Information sharing and the harmonization of anti-money laundering and know-your-customer rules were also proposed in the DOJ report, which was developed in conjunction with other US agencies in the wake of… Continue Reading

What Litigators Should Know Now about Non-Fungible Tokens

ABA Litigation: Jurisdictional and other legal considerations in the booming NFT market. ” Many purists think decentralization is the most important promise of cryptocurrency, but to grow in popularity, non-fungible tokens (NFTs) need to guarantee rights to artists. NFTs are non-interchangeable units of data, stored on a blockchain, that can be sold and traded. NFTs… Continue Reading