Bitcoin News Official TheBitTimes.com

The new legislation aims to protect crypto investors from disputes, manipulation or fraud potentially stemming from transactions occuring off-chain. A new bill in the United States aims to require cryptocurrency service providers to report all blockchain transactions to a government repository. On Sept. 28, U.S. Democrat Representative Don Beyer introduced the “Off-Chain Digital Commodity Transaction Reporting Act,” requiring trading platforms to report all transactions to a repository registered with the Commodity Futures Trading Commission (CFTC). The new legislation aims to protect cryptocurrency investors from disputes, manipulation or fraud potentially stemming from transaction s occurring off -chain , or transaction s that take place beyond the blockchain network. Unlike on -chain transaction s, off -chain crypto transaction s are not instantly logged on a blockchain but are processed through secondary layers, thus creating some difficulties in being tracked. With the emergenc...

Starting from Oct. 16, Chase Bank customers in the United Kingdom will no longer be able to make crypto transactions. Chase Bank, a digital bank owned by the investment bank JPMorgan, will restrict all crypto currency-related transaction s for its customers in the United Kingdom. Starting from Oct. 16, customers of Chase Bank in the U.K. will no longer be able to make crypto transactions using their debit cards or through outgoing bank transfer, a spokesperson for the firm told Cointelegraph on Sept. 26. “Customers will receive a declined transaction notification if they do attempt to make a crypto -related transaction ,” Chase Bank said in a statement. According to the bank’s representative, Chase has decided to enforce new cryptocurrency restrictions due to an “increase in fraud and scams related to crypto assets.” This is a developing story, and further information will be added as it becomes available. Source: https://thebittimes.com/jpmorgan-s-subsidiary-chase-uk-to-restrict...

Reliable auditing procedures are important for ensuring the integrity of blockchain networks. Blockchain auditing is the process of examining and verifying the data and transactions stored within a blockchain network. It focuses on assessing the integrity and accuracy of the information recorded on the blockchain to ensure it aligns with the intended rules, protocols and regulations. Through the audit process, smart contract code is painstakingly examined to identify vulnerabilities of all levels, ranging from minor loopholes to critical weaknesses that could potentially expose millions to risk. Auditors review and reveal centralization issues, ensure the project code functions as the developer intended, and optimize the code's efficiency. They address key areas such as mathematical operations, logical issues, control flow, access control and compiler errors. By doing this, the probability of a smart contract vulnerability is substantially reduced, providing an essential safeguar...