U.S Government is Working on 'Comprehensive Strategy' for Crypto

According to the deputy attorney general of the U.S., the government is working on a "comprehensive strategy" around cryptocurrencies  
28 February 2018   1105

During the Financial Services Roundtable's spring conference Rod Rosenstein was asked about his views on cryptocurrency and cybercrime. Apart from the answer to the question, he also referred to a cybercrime task force unveiled last week by the Justice Department.

A lot of these schemes involve bitcoin and other cryptocurrencies which do not flow through the traditional financial system. What we're working on now with our cybercrime task force is a working on a comprehensive strategy to deal with that.

Rod Rosenstein

Deputy Attorney General for the United States Department of Justice

He also noted that cryptocurrencies are not fully anonymous, they are, rather, pseudonymous. The laundering process leaves clues for federal investigators to follow to the source. Criminals will always leave trails. Even when dealing with cryptocurrency, criminals are going to want to convert, launder it into physical currency, and so there are ways to trace these operations.

According to him, the key element of the Justice Department's efforts is educating federal officials on how the technology works and the strategies for following such digital trails.

Argo to Report on Mining Profitability Increase in Q2

It was also reported that by the end of June, company owns about £ 3 million in crypto assets, which is 7.7% higher than expected
03 July 2019   239

The British mining company Argo Blockchain published a financial report for the second quarter of 2019, according to which its revenues increased significantly in the second quarter, exceeding its own expectations.

So, in comparison with the previous report, published in early June, the income from mining Argo Blockchain increased by 24%. The increase in profitability from mining at the same time turned out to be proportional to the increase in the Bitcoin price observed during the recent period.

The Company now expects to generate 161 BTC, or GBP1.38m of cryptoassets, in June based on a BTC price of $10,817.16 USD as of 30 June 2019. This is an increase of approximately 101% from the Company's May mining results and represents a mining margin of roughly 81%. The Company considers that this demonstrates that the Company is one of the most efficient miners in the market.
 

Argo Blockchain Team

Argo Blockchain also said that as of the end of June, the company owns about £ 3 million in cryptocurrency assets, which is 7.7% higher than expected.

Also Argo Blockchain intends to expand its activities. In particular, the company plans to deploy another 2500 miners in Quebec by the end of the third quarter, which is also expected to significantly increase revenues.

Our better-than-expected mining performance reflects both improving industry conditions as well as Argo's business strategy, which has enabled it to rapidly ramp up operations and thereby take full advantage of the upturn. As a result, we enter the third quarter with a strong momentum to deliver further growth and improving mining efficiency.
 

Mike Edwards

Executive chairman, Argo

It should be noted Argo Blockchain was the first cryptocurrency company, the placement of shares of which was approved by the London Stock Exchange last June.