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BPSAA | Blockchain Privacy, Security & Adoption Alliance

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BPSAA (Blockchain Privacy, Security Adoption Alliance) goes live assembling crypto gurus from multiple projects for the good of cryptomanity. BPSAA aims to bring collaboration through BPSAA verified projects in order to enhance Privacy, Security, Adoption for users in the crypto realm.

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Projects in the Alliance:
Pirate Chain (Most Anonymous Crypto) https://bpsaa.vision/pirate-chain
Turtle Network (Interoperable DEX w/fiat) https://bpsaa.vision/turtlenetwork
Ether-1 (Decentralized Storage) https://bpsaa.vision/ether1
Sentinal (Decentralized VPN) https://bpsaa.vision/sentinel

Source: https://cryptocoremedia.com/bpsaa-blockchain-privacy-security-adoption-alliance/?utm_source=rss&utm_medium=rss&utm_campaign=bpsaa-blockchain-privacy-security-adoption-alliance

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Coinbase, Others Go Down as Amazon Web Services Outage Takes Down Swath of Internet

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Leading cryptocurrency exchange Coinbase and thousands of other platforms on the internet are reporting recurring interrupted service and pointing the finger at cloud provider Amazon Web Services, which experienced an outage.

This story is developing and will be updated as more information is available.

Source: https://www.coindesk.com/coinbase-others-go-down-as-amazon-web-services-outage-takes-down-swath-of-internet

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Coinbase Preemptively Rebuts Unpublished New York Times Expose

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Cryptocurrency exchange Coinbase has publicly shared an internal letter pushing back at an as-yet unpublished article in the New York Times that, it says, will allege Black employees had “negative experiences” while with the firm.

The letter, posted on the company’s blog Thursday, states that NYT journalist Nathaniel Popper has been interviewing current and former staff over recent weeks and will “allege that a number of Black employees and contractors referenced in the story filed complaints with the company.”

“In reality, only three of these people filed complaints during their time at Coinbase. All of those complaints were thoroughly investigated, one through an internal investigation and two by separate third-party investigators, all of whom found no evidence of wrongdoing and concluded the claims were unsubstantiated.”

The letter, which was not signed but references the first person in places, appears to be an effort to take the sting out of the report by controlling the narrative before it’s even started. “We provided several written, on-the-record statements to The Times. We have no control over whether and how The Times uses those statements (in whole or in part) in the story,” Coinbase says.

The letter goes on to say that, despite the firm’s “best efforts” to provide relevant information to Popper, Coinbase expects “the story will paint an inaccurate picture that lacks complete information and context.”

“Finally, let me be absolutely clear on these points: We are committed to maintaining an environment that is safe, supportive and welcoming to employees of all backgrounds,” the unnamed writer (possibly CEO Brian Armstrong) says. “We do not accept intolerant behavior. And we are committed to the refreshed Belonging, Inclusion and Diversity strategy we rolled out earlier this quarter.”

The New York Times will publish the article in print on Sunday and possibly before that in online versions, according to the post.

The anticipated article and the firm’s preemptive response are now building to be the second major PR blow for Coinbase this year, after a controversial blog post from Armstrong in the summer set out that he would effectively bar most political activism in its workplace and focus on the “mission.”

The missive apparently came about after internal protests were sparked when the CEO would not publicly back the “Black Lives Matter” movement, but would state that “black lives matter.” He later compromised in a tweet.

Source: https://www.coindesk.com/coinbase-new-york-times-black-employees

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Coinbase CEO Claims Non-Custodial Wallet Regulation is Bad for DeFi

In a lengthy tweet, the Coinbase boss has responded to Steve Mnuchin’s plans to rush out new regulations regarding self-hosted crypto wallets before the end of his term. The proposed regulations would require financial institutions and crypto exchanges to verify the recipient and owner of self-hosted or non-custodial wallets. In doing so, they would collect … Continued

The post Coinbase CEO Claims Non-Custodial Wallet Regulation is Bad for DeFi appeared first on BeInCrypto.

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In response to rumors over potential new crypto regulations in the United States, Coinbase CEO Brian Armstrong has stated why this could be bad for the industry, especially decentralized finance (DeFi) which thrives on openness.

In a lengthy tweet, the Coinbase boss has responded to Steve Mnuchin’s plans to rush out new regulations regarding self-hosted crypto wallets before the end of his term.

The proposed regulations would require financial institutions and crypto exchanges to verify the recipient and owner of self-hosted or non-custodial wallets.

In doing so, they would collect identifying information on that party, before a withdrawal could be sent to it. It’s a form of KYC (know your customer) for decentralized wallets that would make them, well, not decentralized.

Detriment to DeFi

Non-custodial wallets are a key element of the DeFi ecosystem because they allow anyone, anywhere to use this new technology to access basic financial services. Armstrong added that the open nature of crypto and DeFi powers innovation and ‘levels the playing field globally:’

“It is what is fueling innovation, such as in Defi. It has the potential to bring down the cost of financial services, and improve accessibility.”

He stated that new identity tracking regulations would be impractical and a bad idea for a number of reasons.

In the case of DeFi, many crypto users and yield farmers send assets to smart contracts so they can use dApps in the ecosystem. A smart contract is not necessarily owned by any individual or business that could be identified to satisfy these new requirements.

In addition, many people now use crypto to make payments online to various merchants, so their identity would be revealed.

Some users in emerging markets that send or receive crypto may find it difficult to provide the required proof these new rules would demand. Armstrong concluded:

“Finally, many recipients (in the U.S. or abroad) who value their financial privacy, may simply not want to upload more identifying documents to various companies, which could be hacked or stolen.”

Coinbase: Walling Off the U.S. a Financial Risk

He stated that this would reduce the number of transactions between non-custodial wallets and crypto exchanges, such as Coinbase which recently halted margin trading, effectively eating into its profits.

It would also put a wall around the U.S., cutting off access to the innovation happening elsewhere. Armstrong added, “I believe this would put America’s status as a financial hub at risk.”

Some hope the new Biden administration would be more open to the crypto industry and its drive for financial innovation. There has been no further confirmation as to when these regulations would come into effect.

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Martin Young

Martin has been writing on cyber security and infotech for two decades. He has previous trading experience and has been actively covering the blockchain and crypto industry since 2017.

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Source: https://beincrypto.com/coinbase-ceo-claims-non-custodial-wallet-regulation-is-bad-for-defi/

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