Jeffrey Berns is a lawyer and CEO of BernsInc. and ETHNews
August 18th 2016
Bitfinex Solution Fraught With Issues
In light of the recent hacking incident that resulted in the theft of approximately $70 million, Bitfinex chose to reduce customer deposits by 36% to equally distribute the losses. This solution raises substantial concerns.
August 11th 2016
Blockchain Apps Will Transform P2P Payments
Venmo and other web-based social-finance apps are growing in popularity, but they generally have substantial limitations because of the internet's functionality. Blockchain technology removes these limitations, and will be at the forefront of transforming the way in which value is transferred between individuals throughout the world.
August 3rd 2016
Regulatory Discrimination Against Miners Is Shortsighted
Iowa’s approach to creating an environment for attracting high density load companies to the state stands in stark contrast with Washington’s decision to raise electricity rates for them. Regulators should be mindful of balancing their short-term financial goals with the need to attract and maintain innovative businesses.
August 3rd 2016
Bitfinex Didn't Fight The CFTC Regulations, Which Catalyzed A Security Breach
Bitfinex was recently hacked resulting in the theft of approximately 119,756 bitcoins. In June 2016, the CFTC issued an order against Bitfinex to protect consumers and comply with law and regulations, but achieved an opposite result.
July 29th 2016
Media Scare Tactic: Tying Virtual Currency to Violence
Media and governments are acting irresponsibly in tying virtual currency to recent wave of violent attacks.
July 26th 2016
European Union to Add Virtual Currency to Strict Anti-Money Laundering Directive
The AML Proposal, which would add virtual currency exchanges and custodial wallet providers to the existing AML framework, to “ensure increased transparency of financial transactions and of corporate entities,” requires exchanges and wallet providers to collect and monitor personal customer information as well as report suspicious transactions.