Mexico’s Regulations to Become Law in Weeks

An exchange’s director of operations informed about new regulations in Mexico to become law within weeks
23 February 2018   257

According to the interview with the exchange’s director of operations, Daniel Luévano, Mexico’s Chamber of Deputies will soon vote on the bill to regulate the country’s fintech institutions including cryptocurrency exchanges, which the Senate has already approved.

Daniel Luévano said that cryptocurrencies will not be legal tender. Despite this fact, Financial Technology Institutions will be allowed to operate with them. He also stated that it will be legal to use any crypto to pay for goods and services.

According to the bill, the most significant changes in Mexican crypto ecosystem: Financial institutions will be able to operate with virtual assets, but also, they are allowed to invest in ITFs. ITFs will be constantly audited; everything must be transparent to regulators and consumers.

The Bank of Mexico will keep new technologies and strengthen the Mexican financial ecosystem because it doesn’t want to lose control of things they still don’t understand. The Bank will decide which crypto can be operated in the Mexican territory.

Daniel Luévano stated that crypto exchanges will need to get a license. More than that The Bank of Mexico will decide which cryptocurrencies are allowed to be listed on the exchanges.

Atlanta's computer network infected with Bitcoin ransomware

Hackers breached the governmental computer network in Atlanta to infect with ransomware and demand payment in Bitcoin
23 March 2018   133

Cryptocurrency ransomware of different flavors has been around practically as long as cryptocurrencies themselves. And now the city of Atlanta, US has come under the attack.

The governmental computer system has been infected by the ransomware virus early in Thursday, and this has caused a massive disruption in several departments. In particular the bill payments and court information services has been affected. Later in the morning several city employees found a ransom letter on their computers with demands for $51,000 in Bitcoin.

In the afternoon of the same day officials held a press-conference, but were unable to provide any particular information about the attack since the investigation was just commenced and in the early stages. The question whether or not they were going to pay the ransom were also left unanswered.

Atlanta is one the major economics hubs in the Southern US with several large international companies and the world's busiest airport located in the city. Apparently, the city officials have no qualms about going for all the available help in such a high-resonance case, hence the US Department of Homeland Security, the FBI and even the Secret Service authorities are now on the ground.

Of course, there is little chance of systems being unlocked even if the ransom is paid, the security experts say. So, the city is probably in for a long road to full recovery of its computer facilities. The officials have even started making plans in preparation for long and tedious recovery process.