European CB to be Urged to Create Own Crypto

The document, urging EU Central Bank to study the possibility of issuing own cryptocurrency was prepared by the Finnish representatives
06 November 2019   196

The European Central Bank (ECB) should consider issuing its own digital currency. This is allegedly stated in the draft document prepared by the Finnish representative in the EU, reports Reuters.

The ECB and other EU central banks could usefully explore the opportunities as well as challenges of issuing central bank digital currencies including by considering concrete steps to this effect.

Finnish EU Presidency Draft

At the same time, the document indicates the need for a clear regulatory framework for working with digital currencies. One of these steps could be the ban on the “most risky” cryptocurrencies.

The proposal may be discussed on 5th December.

$400M Worth XRP Tied to Scam Schemes,- Elliptic

Researchers believe illegal transactions account for 0.2% of the total cryptocurrency trading volume
21 November 2019   71

Elliptic analysts monitored XRP cryptocurrency transactions and identified several hundred accounts related to illegal activities. It is reported by The Block.

A significant part of XRP transactions totaling over $ 400 million are connected with financial pyramids and other fraudulent schemes.

In general, illegal transactions account for 0.2% of the total cryptocurrency trading volume.

According to Elliptic co-founder Tom Robinson, XRP is more likely to appear in dubious schemes of fast enrichment, while Bitcoin is preferred to use on darknet marketplace.

I suspect there are a lot of retail holders of XRP, which may be an attractive target for scammers.

Tom Robinson
Co-founder, Elliptic

Robinson also added that it took longer to create an XRP transaction monitoring solution than a similar service for bitcoin or ether due to the nature of the asset structure.