Author Archives: davout

French Financial Regulatorast Fines Payment Service Provider Over Bitcoin Business

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On March 30th, the "Commission des sanctions" of the "Autorité de Contrôle Prudentiel et de Résolution" fined the Lemon Way Payments Services Provider for over 80,000 € on various charges, among which insufficient KYC and AML performance in relation with a French Bitcoin/fiat interface.

This amount represents almost half the last published profits of the French PSP, led at the time by Mr Sébastien Burlet (WoT: nonperson).

These breach instances include mainly: failure to collect KYC paperwork for 34 customers, failure to report 9 customers to legal enforcement on suspicions of money laundering, and failure to further interrogate 20 customers, for which the declared wealth allegedly didn't match the transaction volumes.

The violations are mostly related to business in relation with an unnamed french Bitcoin/fiat interface. The ACPR aptly reminding the public that Bitcoin carries a high-risk of people actually exercising their basic human right to financial privacy.

"Bitcoin" (Altcoin) Unlimited Experiences Drop In Node Count Due To Remote Crash Vulnerability

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The "Bitcoin Unlimited" node count experienced a very sharp ~65% drop around 7:30 PM UTC as a remote-crash vulnerability was made public on Twitter. The node count, as reported by coin.dance, fell to 259 from a previous measurement of 764 moments earlier.

The actual vulnerability is a result of the ineptitude of the "Bitcoin Unlimited" developers to incorrectly implement the usual "monkey see, monkey do" approach to software, by messing up the copy-pasting of power-rangerolade.

Peter Todd's straight Twitter disclosure was made in a context of heightened tensions among the two main flavors of idiocy, namely the SegWit peddlers and the Roger Verified "Bitcoin Unlimited" followers.