Portugal’s parliament, Assembleia da República, has rejected two bills that sought to tax cryptocurrencies. Livre and Bloco, two Portuguese left-wing parties, proposed the bills. However, both parties had little representation in Congress. The ruling Socialist Party, which holds the majority of seats in the legislative assembly, has not yet submitted any bill. This news comes on the heels of Portugal’s Minister of Finance, Fernando Medina, announcing that cryptos will be subject to taxation soon. Explaining the need for crypto taxation,…
Tag: KYC
SolidProof to Open Smart Contract Auto-Audit Tool for Large Scale Access
SolidProof – a German-based security company – will soon make its automatic smart contract auditing tool available for development teams everywhere. The product is meant to support the growing decentralized finance (Defi) space by addressing its all too common security threats. The Need for Security Defi is a popular application for blockchain technology that builds on the original monetary function that Bitcoin was designed for. Whereas Bitcoin was created as a form of trustless money, defi enables trustless financial services…
1 month ago 1.2 k
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Solidproof Obtains Licenses for its Transformational Auto Audit Tool Solution
Solidproof is proud to announce that they have secured licenses for their auto tool, which has the potential to take DeFi auditing to the next level. The tool’s beta version is available to dedicated parties who will help with testing and final development. Dubbed the Solidproof Automated Audit Tool (SAAT), the newly-launched product seeks to speed up the audit process, allowing the firm to bring certainty to multiple blockchain projects. SAAT introduces advanced code analysis that is much more efficient…
3 months ago 963
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Magic Eden Implements Stringent KYC Procedures Following Scams
NFT creators on Solana marketplace Magic Eden will now be subject to stricter procedures. The company announced a new doxing policy for creators who want to drop their collections on the marketplace. This policy would ensure stringent safety and project quality checks that would protect the interest of minters. The recent development unfolds against a backdrop of rug pull scams that saw minters lose thousands of dollars on Magic Eden. Minters lost $58,000 (645 SOL) in the first scam because…
3 months ago 1.1 k
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How SolidProof Ensures Transparency and Security through Audit and KYC Systems
Solidproof is among the most trusted blockchain security and smart contract auditing companies in the crypto market today. The Germany-based company has its objectives to fix the security and transparency issues smothering the crypto space. Unfortunately, as the industry attains more progress, so do the opportunities for bad actors to victimize honest investors. According to a yearly report on crypto crimes by Chainalysis, $14 billion of all transactions in crypto in 2021 were associated with scams or money laundering. These…
3 months ago 994
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Top 5 Smart Contract Auditing Companies
Deploying a smart contract on the blockchain without auditing can quickly spell "suicide" for most projects. Nowadays, hackers are constantly looking for potential code errors and vulnerabilities. Furthermore, most users have the necessary experience to know they cannot trust unaudited DeFi and crypto protocols. Fortunately, no project has to launch unaudited, especially with the abundance of professional auditors in the industry. These experts can check smart contracts in-depth, detect errors or vulnerabilities, and suggest fixes. Simply put, they increase a…
5 months ago 2.3 k
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SolidProof Introduces KYC and Audit Services for DeFi projects
SolidProof, a German-based blockchain auditing company, has finalized the development of its auto audit tool and plans to launch the solution soon. Dubbed the SolidProof Automated Auto Tool (SAAT), the product is designed to streamline and speed up the entire smart contract auditing process. Retail and institutional adoption of decentralized finance (DeFi) is growing stunningly. However, rampant hacks, scams, and other security breaches targeting DeFi protocols threaten to derail the success of the budding sector. SAAT aims to help blockchain…
6 months ago 605
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Solidproof Continues to Grow with Crucial Industry Partnerships
Solidproof is one of the fastest emerging audit companies in the crypto sphere. The German company specializes in project auditing, KYC procedures, and high-security data storage. And, its recent industry partnerships show that its premium-quality services are in high demand. Furthermore, one of Solidproof’s innovative products, the Automated Audit Tool, is receiving increasing attention. The company has just integrated the placeholder for the auto tool. So, now, users can increase the certainty of their smart contracts with automatic project auditing.…
8 months ago 726
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How Can Google Help Mitigate Crypto Crime Cases
Cryptocurrency-related crimes have been around for quite some time. Perpetrators are coming up with new methods as blockchain technology advances. Since Google deals with internet-related services, it is perfect for solving crypto crimes. Inform Investors on Crypto Crimes As more people are getting into cryptocurrencies, scammers are revamping new ways to steal funds. Crypto criminals can steal their crypto through crypto-jacking. Cryptojacking happens when a crypto mining code gets into the target's computer through phishing tactics. Phishing attacks occur in the form…
8 months ago 239
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Limitations of KYC in Crypto Adoption
The recent rise in fraud, money laundering, and tax evasion cases has led financial institutions to focus on how they can apply underlying controls on their counterparts. Regulators worldwide have developed an interest in the frenzy and are continuously developing regulatory moves targeting market actors. The aim is to ensure financial institutions align with the current security practices and measures like Know Your Customer (KYC). Several exchanges have employed their compliance to meet measures that have been set while others…
11 months ago 301
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