Komainu to store crypto confiscated by UK law enforcement Komainu to store crypto confiscated by UK law enforcement January 21, 2021 The Assistant Commissioner of the City of London Police said the partnership with Komainu would help in “denying criminality the proceeds of crime.”
854 Total views
8 Total shares
Digital asset custodian Komainu is working with authorities in the United Kingdom to store crypto confiscated as part of criminal investigations.
Komainu is a custody venture from Japan-based global investment bank Nomura, digital asset manager CoinShares, and hardware wallet manufacturer Ledger.The firm announced it has made an agreement to “securely store digital assets seized during the investigatory process” for police forces in England, Wales, Northern Ireland, and Scotland following a commercial tender with the Derbyshire Constabulary in the East Midlands region.
The announcement stated that it has the support of Coinshares as well as Gentium, a consultancy service for law enforcement in the U.K.specializing in financial crime and cyber crime.
“Specialist Cyber Crime Units at local, regional and national level are seizing cryptocurrencies as part of their investigations on a regular basis and desperately needed access to a secure storage solution from a regulated provider,” explained Assistant Commissioner of the City of London Police Angela McLaren.
“[Komainu] will provide teams with the proper technology and security they need to store cryptocurrencies and other digital assets as part of their investigations.“
McLaren added that the agreement between the digital asset custody venture and law enforcement marked progress in “denying criminality the proceeds of crime” and would reduce the financial burden on authorities to find a solution for storing the funds.
There has been an increase worldwide in authorities seizing digital assets connected to illicit activities.In December, Chinese police seized crypto assets worth $4.2 billion from seven people convicted in the PlusToken Ponzi scheme case.
In the United States, the Justice Department seized 69,370 Bitcoin from an unnamed individual allegedly connected to the hack of darknet marketplace Silk Road and is reportedly planning to auction the coins.Share this: Facebook Libra Not Avoiding US Regulators, Switzerland a Better Fit Among all the issues cropping up in Facebook’s recent hearing in the United States Congress regarding its new Libra cryptocurrency, the matter of location was perhaps the thorniest.Testifying before various banking and financial committees, Libra co-creator David Marcus was repeatedly questioned as to why Facebook had decided to establish the subsidiary behind its newfangled… CryptoKitties Creators Launch Token-Powered NBA TopShot in Beta Dapper Labs, the team behind the Ethereum-based non-fungible token (NFT)-powered game CryptoKitties, has launched its forthcoming NBA TopShot game in beta.Cointelegraph experienced a sneak preview of the game, which allows players to own, trade and play with tokenized representations of key moments in NBA history.NBA TopShot is built on Dapper’s Flow blockchain.NBA TopShot launches in… Bitcoin Startup Brings Lightning Network Payments to Amazon, Whole Foods United States-based payments startup Fold has made Lightning Network (LN) payments possible at Amazon, Starbucks, Uber and other big name retailers.The news was revealed in an official blog post published on July 10.As previously reported, the Bitcoin (BTC) Lightning Network is a second-layer solution to bitcoin’s scalability limitations, opening payment channels between users that… Ripple donates $10M to Mercy Corps during annual Swell conference Ripple continues its effort to bring financial inclusion to struggling markets.
1381 Total views 3 Total shares Ripple announced a contribution of $10 million to Mercy Corps to help it use digital assets in its work on financial inclusion in emerging markets during the annual Swell conference.Mercy Corps is a non-governmental, humanitarian aid organization that… Circle CEO Jeremy Allaire: Stablecoins That Use Open Standards Will Prevail Jeremy Allaire, co-founder and CEO of payments company Circle, has said that as the sector continues to see new market entrants, stablecoins using an open standards approach will prevail.Allaire made his remarks during an interview with Fortune’s crypto-focused segment The Ledger on March 19.As reported, Circle launched its US dollar-backed, ERC-20 stablecoin USD Coin… Less Than 5% of Crypto Code Commits on Github Made By Women: Report Less than 5% of the code committed to the top 100 cryptocurrency projects on Github were contributed by women, according to a Medium article posted by journalist Corin Faife on June 10.The author gathered more than 1,026,804 code commits for his research.While 691,134 were made by developers with a male name, just 47,678 were… OPEC to cover blockchain tech in second workshop on energy and IT Will the oil cartel put black gold on the blockchain? The Organisation of the Petroleum Exporting Countries has announced that its Second Workshop on Energy and Information Technology will be held on Sep.21 via videoconference.This year’s event sees blockchain technology join the range of energy and tech-related topics to be discussed.However, it is unlikely… Ripple Briefly Overtakes Ethereum Again to Become Largest Altcoin By Market Cap Ripple (XRP) has briefly surpassed the market cap of Ethereum (ETH) for the second time in a week Wednesday, September 26, once again temporarily becoming the second largest cryptocurrency by market cap.Data from CoinMarketCap shows that XRP is now again ranked third with gains of 22 percent over a 24 hour period, with ETH in… Crypto Exchange Open Interest Rises as Bitcoin Volatility Drops to New Low Open Interest for crypto futures are rising at Bybit despite Bitcoin’s record-low volatility.
943 Total views 25 Total shares Recent data from Skew shows that open interest for Bitcoin (BTC) has been rising on the Bybit crypto trading platform, reaching a new high at $434 million on July 14 for the Tether (USDT) and USD pairs… .
