Philippines to License 10 Crypto Companies

The Philippines will allow 10 crypto-related companies to work in their economic zone, providing them with tax benefits in exchange for jobs and fees
26 April 2018   946

These 10 companies will be the first representatives of the cryptocurrency business, which will start working in the Philippines after the creation of a special economic zone in February. This is reported by Reuters.

We are about to licence 10 platforms for cryptocurrency exchange. They are Japanese, Hong Kong, Malaysians, Koreans. They can go into cryptocurrency mining, initial coin offerings, or they can go into exchange.
 

Raul Lambino 

Chief, Cagayan Economic Zone Authority (CEZA)

Despite the permission received, the exchange of cryptocurrency for fiat and back should be conducted in off-shores in order not to conflict with local legislation, he added.

CEZA in February developed a set of rules designed to regulate cryptocurrency companies that can register in the special economic zone of the Philippines.

They must invest at least $ 1 million in two years and pay $ 100,000 as a license fee.

The Central Bank of the Philippines does not approve the use of cryptocurrency, because it believes that they can be used to commit unlawful acts.

The regulator of the economic zone intends to establish educational institutions on its territory that will train personnel for cryptoexchange companies.

China to Finance Hacker Attacks on Exchanges, - FireEye

Experts believe that the victims of APT41 are industry participants, the development of which is a priority in the current Chinese five-year period
08 August 2019   388

The hacker group APT41 attacks companies in the areas of healthcare, telecommunications, fintech, media, and cryptocurrency exchanges. This activity is funded by the Chinese government, according to analysts of cybersecurity company FireEye.

Experts believe that the victims of APT41 are industry participants, the development of which is a priority in the current Chinese five-year period.

Industries Targeted by APT41
Industries Targeted by APT41

At the same time, APT41 pursues its own goals, extracting financial benefits from attacks, which is unusual for other groups under the Chinese government, according to FireEye.

APT41 is known to include at least two people with the pseudonyms Chzan Xuiguan and Wolfji. The group probably has connections with other hacker organizations like BARIUM and Winnti.

FireEye also evaluated at what time of the day the APT41 attacked the gaming industry (its core target) and businesses from other areas. It turned out that this was happening outside the framework of a standard working day - probably these people, among other things, have the main job.

APT41 Operational Times
APT41 Operational Times

According to the UN Security Council, hackers under the DPRK government stole about $ 2 billion from banking institutions and cryptocurrency exchanges.