Chain News by Thebittimes.Com

Modernizing public finance management through blockchain could help governments identify potential corruption and waste by providing additional transparency and traceability. The Official Monetary and Financial Institutions Forum, or OMFIF, an independent global think tank for central banking and economic policy, has released a report suggesting that blockchain technology in a public finance management system could provide information essential to “formulate and design fiscal policy.” According to a Tuesday report, the OMFIF said modernizing public Finance management through Blockchain could help governments identify potential corruption and waste by providing “enhanced transparency and traceability of payments.” The report suggested the technology could facilitate the prevention of embezzlement of funds given the global rise in fraud from cases including ransomware and cybersecurity attacks. In addition to helping reduce the risk of theft from invoice fraud — allowing users to send ...

The United Kingdom’s top crime agency is looking to hire a crypto investigator with experience of identifying and recovering seed phrases. The United Kingdom’s National Crime Agency (NCA) is taking measures to increase its focus on cryptocurrency crimes and combat criminals. NCA’s cyber-focused command, the National Cyber Crime Unit (NCCU), is launching a dedicated crypto currency unit to investigate U.K. cyber incidents involving the use of crypto currencies like Bitcoin (BTC). Called “NCCU Crypto Cell,” the crypto-focused unit will initially contain five officers dedicated to "proactive cryptocurrency remit." “This is a really exciting opportunity which involves working in a team at the forefront of protecting the U.K. from cyber crime,” NCA infrastructure investigations director Chris Lewis-Evans told Cointelegraph. He added: “Cryptocurrency and virtual assets are widely viewed as specialist areas of knowledge, and this role is key to supporting NCA investigations in whic...

Traders are not sure if ETH will be able to hold the $1,200 level while the S&P 500 rapidly approaches the crucial 3,900 support and ETH derivatives data hints at more downside. Ether (ETH) rallied 11.3% between Nov. 28 and Dec. 5, peaking at $1,300 before facing a 4.6% rejection. The $1,300 resistance level has been holding ground for twenty-six days and is the most likely explanation for the correction to $1,240 on Dec. 6.  Ether/USD price index, 12-hour. Source: TradingView So from one side, traders are relieved that Ether is trading 16% above the $1,070 low reached on Nov. 22, but it must be frustrating to fail at the same level the entire week. In addition to the price rejection, investors' mood worsened after three members of the United States Senate reportedly requested information from Silvergate Bank regarding its relationship with FTX. The lawmakers raised questions after "reports suggesting that Silvergate facilitated the transfer of FTX customer funds to Alame...