G20 to Provide Crypto Regulation Recommendations by July

July is a deadline for the first step toward unified regulation of cryptocurrency
21 March 2018   461

Leaders of the world's leading economies have appointed the final date for proposing recommndations for thecrypto  regulations. This is reported by CoinDesk.

During his speech after a meeting of finance ministers at the G20 summit in Buenos Aires, the chairman of the central bank of Argentina Federico Shturzenegger said that the representatives of the G20 countries came to the conclusion that the crypto-currencies need to be studied and then to be regulated.

At the same time, during the conference, he noted that all interested countries should submit their proposals by July of this year.

In July we have to offer very concrete, very specific recommendations on, not 'what do we regulate?' but 'what is the data we need?'
 

Frederico Sturzenegger

Chairman, Central bank of Argentina

Not all of the states that are members of the G20 intend to participate in the further discussion. So, on Monday, the president of the central bank of Brazil, Ilan Goldfine, said that in his country the crypto-currencies will not be regulated. As El Cronista explains, Brazil is not required to follow the G20 guidelines for crypto-currencies and other issues.

Many representatives of the states wishing to regulate crypto-currencies, namely France, Germany, the USA and Japan, contributed to the resolution of today's decision.

They urge to consider crypto-currencies in the context of influence on crime, investors and the world economy. While representatives of France and Germany say that digital assets carry significant risks to investors, US and Japanese officials are most apprehensive that they will be used to conduct illegal activities.

Despite this, G20 representatives agree that crypto-currencies don't threaten financial stability in the world, as Mark Kerni, chairman of the Financial Stability Board, wrote in his message.

Ethereum VM May Have Vulnerability

The vulnerability is reported by NettaLab Twitter account
12 November 2018   65

On November 9, a statement appeared in Netta Lab’s Twitter account that the organization discovered a vulnerability in the Ethereum virtual machine that allows to execute smart contracts endlessly without paying for gas online. The researchers also allegedly turned to the operator of the American database of vulnerabilities, where they registered the corresponding discovery.

Netta Labs discovered an Ethereum EVM vulnerability, which could be exploited by hackers. The vulnerability can cause smart contracts can be executed indefinitely without gas being paied.
 

Netta Lab's Twitter

At Netta Lab's request, Google demonstrates the site of the netto.io project, which specializes in auditing smart contracts under the Netta Lab brand, but the Twitter accounts of the projects do not match. Note that the profile that reported the vulnerability was registered in November.

Many users expressed doubts about the authenticity of the information that appeared, but then the creator of the NEO project Da Hongwei said that he spoke with the CEO of Netta Labs and asked the researchers to audit the NEO virtual machine.

Nevertheless, Vitalik Buterin wrote on Reddit that this is a vulnerability in the Python-implementation of the virtual machine, which was first reported on GitHub 9 days ago. This means that the main clients (go-ethereum; parity and cpp-ethereum) are not affected.