Digital Currency Exchanger
A cryptocurrency exchange, or a digital currency exchange (DCE), is a business that allows customers to trade cryptocurrencies or digital currencies for other assets, such as conventional fiat money or other digital currencies. Exchanges may accept credit card payments, wire transfers or other forms of payment in exchange for digital currencies or cryptocurrencies. A cryptocurrency exchange can be a market maker that typically takes the bid–ask spreads as a transaction commission for its service or, as a matching platform, simply charges fees. Some brokerages which also focus on other assets such as stocks, let users purchase but not withdraw cryptocurrencies to Cryptocurrency wallet, cryptocurrency wallets while dedicated cryptocurrency exchanges do allow cryptocurrency withdrawals. Operation A cryptocurrency exchange can typically send cryptocurrency to a user's personal cryptocurrency wallet. Some can convert digital currency balances into anonymous prepaid cards which can ... [...More Info...]       [...Related Items...]     OR:     [Wikipedia]   [Google]   [Baidu]   |
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Cryptocurrencies
A cryptocurrency (colloquially crypto) is a digital currency designed to work through a computer network that is not reliant on any central authority, such as a government or bank, to uphold or maintain it. Individual coin ownership records are stored in a digital ledger or blockchain, which is a computerized database that uses a consensus mechanism to secure E-commerce, transaction records, control the creation of additional coins, and verify the transfer of coin ownership. The two most common consensus mechanisms are proof of work and proof of stake. Despite the name, which has come to describe many of the fungibility, fungible blockchain tokens that have been created, cryptocurrencies are not considered to be Currency, currencies in the traditional sense, and varying legal treatments have been applied to them in various jurisdictions, including classification as Commodity, commodities, Security (finance), securities, and currencies. Cryptocurrencies are generally viewed as ... [...More Info...]       [...Related Items...]     OR:     [Wikipedia]   [Google]   [Baidu]   |
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Arthur Budovsky
Liberty Reserve was a Costa Rica-based centralized digital currency service that billed itself as the "oldest, safest and most popular payment processor, serving millions all around a world". The site had over one million users when it was shut down by the United States government. Prosecutors argued that due to lax security, alleged criminal activity largely went undetected, which ultimately led to them seizing the service. In May 2013, Liberty Reserve was shut down by United States federal prosecutors under the Patriot Act after an investigation by authorities across 17 countries. The United States charged founder Arthur Budovsky and six others with money laundering and operating an unlicensed financial transaction company. Liberty Reserve is alleged to have been used to launder more than $6 billion in criminal proceeds during its history. Background Based in San José, Costa Rica, Liberty Reserve was a centralized digital currency service that allowed users to register and ... [...More Info...]       [...Related Items...]     OR:     [Wikipedia]   [Google]   [Baidu]   |
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Cyber Criminals
Cybercrime encompasses a wide range of criminal activities that are carried out using digital devices and/or networks. It has been variously defined as "a crime committed on a computer network, especially the Internet"; Cybercriminals may exploit vulnerabilities in computer systems and networks to gain unauthorized access, steal sensitive information, disrupt services, and cause financial or reputational harm to individuals, organizations, and governments. In 2000, the tenth United Nations Congress on the Prevention of Crime and the Treatment of Offenders classified cyber crimes into five categories: unauthorized access, damage to computer data or programs, sabotage to hinder the functioning of a computer system or network, unauthorized interception of data within a system or network, and computer espionage. Internationally, both state and non-state actors engage in cybercrimes, including espionage, financial theft, and other cross-border crimes. Cybercrimes crossing internatio ... [...More Info...]       [...Related Items...]     OR:     [Wikipedia]   [Google]   [Baidu]   |
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Money Laundering
Money laundering is the process of illegally concealing the origin of money obtained from illicit activities (often known as dirty money) such as drug trafficking, sex work, terrorism, corruption, and embezzlement, and converting the funds into a seemingly legitimate source, usually through a front organization. Money laundering is illegal; the acts generating the money almost always are themselves criminal in some way (for if not, the money would not need to be laundered). As financial crime has become more complex and financial intelligence is more important in combating international crime and terrorism, money laundering has become a prominent political, economic, and legal debate. Most countries implement some anti-money-laundering measures. In the past, the term "money laundering" was applied only to financial transactions related to organized crime. Today its definition is often expanded by government and international regulators such as the US Office of the Comp ... [...More Info...]       [...Related Items...]     OR:     [Wikipedia]   [Google]   [Baidu]   |
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ESSEC
Founded in 1907, ESSEC Business School (École Supérieure des Sciences Economiques et Commerciales) is a French higher education institution specialising in business and management. It is a grande école, a type of institution known for selective admissions and rigorous academic programs. The school’s main campus is located in Cergy, in the Île-de-France region near Paris. ESSEC also operates campuses in La Défense (Paris), Rabat (Morocco), and Singapore, supporting its values of strong international orientation and diverse student community. These campuses offer programs including the ESSEC Global BBA and the Executive MBA, which have an international focus. Originally established by Jesuits, ESSEC was created as a response to the formation of HEC Paris. It operated independently of any chamber of commerce and industry until 1981, when it came under the governance of the Versailles Chamber of Commerce, which later became part of the Chamber of Commerce and Industry of ... [...More Info...]       [...Related Items...]     OR:     [Wikipedia]   [Google]   [Baidu]   |
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Liberty Reserve
Liberty Reserve was a Costa Rica-based centralized digital currency service that billed itself as the "oldest, safest and most popular payment processor, serving millions all around a world". The site had over one million users when it was shut down by the United States government. Prosecutors argued that due to lax security, alleged criminal activity largely went undetected, which ultimately led to them seizing the service. In May 2013, Liberty Reserve was shut down by United States federal prosecutors under the Patriot Act after an investigation by authorities across 17 countries. The United States charged founder Arthur Budovsky and six others with money laundering and operating an unlicensed financial transaction company. Liberty Reserve is alleged to have been used to launder more than $6 billion in criminal proceeds during its history. Background Based in San José, Costa Rica, San José, Costa Rica, Liberty Reserve was a centralized digital currency service that allowed u ... [...More Info...]       [...Related Items...]     OR:     [Wikipedia]   [Google]   [Baidu]   |
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WebMoney
WebMoney is an online payment settlement system established in Russia in 1998. It is one of the largest electronic payments processors in Russia by number of users, with the company reporting 45 million registered accounts and 300,000 active weekly users in early 2020, and 100,000 stores accepting payments via the system. WebMoney is owned and operated by WM Transfer Ltd. Service WebMoney users' funds are stored in a "purse", which holds electronic money corresponding to an underlying asset, such as a currency. The underlying assets for WebMoney units are held by a global network of companies that act as guarantors for the payment system. Guarantors accept deposits in the underlying assets and issue the corresponding WebMoney units. WebMoney Transfer can be used for peer-to-peer payments, and includes an escrow system. It charges 0.8% of the transacted amount in fees, up to a maximum fee of €50. WebMoney provides an application called WebMoney Keeper for using their paymen ... [...More Info...]       [...Related Items...]     OR:     [Wikipedia]   [Google]   [Baidu]   |
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Bitcoin
Bitcoin (abbreviation: BTC; Currency symbol, sign: ₿) is the first Decentralized application, decentralized cryptocurrency. Based on a free-market ideology, bitcoin was invented in 2008 when an unknown entity published a white paper under the pseudonym of Satoshi Nakamoto. Use of bitcoin as a currency began in 2009, with the release of its open-source software, open-source implementation. In 2021, Bitcoin in El Salvador, El Salvador adopted it as legal tender. It is mostly seen as an investment and has been described by some scholars as an economic bubble. As bitcoin is pseudonymous, Cryptocurrency and crime, its use by criminals has attracted the attention of regulators, leading to Legality of cryptocurrency by country or territory, its ban by several countries . Bitcoin works through the collaboration of computers, each of which acts as a Node (networking), node in the peer-to-peer bitcoin network. Each node maintains an independent copy of a public distributed ledger of ... [...More Info...]       [...Related Items...]     OR:     [Wikipedia]   [Google]   [Baidu]   |
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Cryptocurrency
A cryptocurrency (colloquially crypto) is a digital currency designed to work through a computer network that is not reliant on any central authority, such as a government or bank, to uphold or maintain it. Individual coin ownership records are stored in a digital ledger or blockchain, which is a computerized database that uses a consensus mechanism to secure transaction records, control the creation of additional coins, and verify the transfer of coin ownership. The two most common consensus mechanisms are proof of work and proof of stake. Despite the name, which has come to describe many of the fungible blockchain tokens that have been created, cryptocurrencies are not considered to be currencies in the traditional sense, and varying legal treatments have been applied to them in various jurisdictions, including classification as commodities, securities, and currencies. Cryptocurrencies are generally viewed as a distinct asset class in practice. The first cryptocu ... [...More Info...]       [...Related Items...]     OR:     [Wikipedia]   [Google]   [Baidu]   |
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E-gold
E-gold or eGold was a digital gold currency operated by Gold & Silver Reserve Inc. (G&SR) that allowed users to make payments, which it called "spends", in grams of gold, silver, and other precious metals. E-gold was launched in 1996 and grew to five million accounts by 2009, when transfers were suspended due to legal issues. At its peak in 2006, e-gold processed more than US$2 billion worth of spends per year, backed by over 85 million worth of gold, about . e-gold Ltd. was incorporated in Nevis, Saint Kitts and Nevis, and its operations were based in Florida. Beginnings E-gold was founded by Douglas Jackson, a radiation oncologist, and Barry Downey, an attorney, in 1996. The pair originally backed e-gold accounts with gold coins stored in a safe deposit box in Melbourne, Florida. When e-gold was at its peak, the company stored its gold and platinum in bank vaults in London and Dubai. By 1998, G&SR was an affiliate member of NACHA and a full member of NACHA's Internet council ... [...More Info...]       [...Related Items...]     OR:     [Wikipedia]   [Google]   [Baidu]   |
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Digital Gold Currency
Digital gold currency (or DGC) is a form of electronic money (or digital currency) based on mass units of gold. It is a kind of representative money, like a gold certificate (United States), US paper gold certificate at the time (from 1873 to 1933) that these were exchangeable for gold on demand. The typical unit of account for such currency is linked to grams or troy ounces of gold, although other units such as the gold dinar are sometimes used. DGCs are backed by gold through unallocated or allocated gold storage. Digital gold currencies are issued by a number of companies, each of which provides a system that enables users to pay each other in units that hold the same value as gold bullion. These competing providers issue a type of independent currency. The Reserve Bank of Zimbabwe is also issuing the ZiG, a digital token backed by gold, which has also been granted legal tender status. Features Universal currency Proponents claim that DGC offers a truly global and bor ... [...More Info...]       [...Related Items...]     OR:     [Wikipedia]   [Google]   [Baidu]   |