The Bank for International Settlements floated a compliance score for crypto-to-fiat off-ramps, using transaction history to flag and potentially freeze “tainted” assets. The Bank for International Settlements (BIS) has proposed a provenance-based risk score system for crypto-to-fiat off-ramps. In its Wednesday BIS Bulletin, the institution outlined “an approach to anti-money laundering compliance for cryptoassets,” recommending that a compliance score be assigned to crypto holdings before they are exchanged for fiat currency. “An AML compliance score based on the likelihood that a particular cryptoasset unit or balance is linked with illicit activity may be referenced at points of contact with the banking system,” the document said. The score would then be used to prevent inflows of illicit funds and encourage a “duty of care” among crypto market participants. Read more
Discover how Ukraine peace talks could impact Bitcoin’s price in 2025. Explore three scenarios (ceasefire, shaky deal or escalation) and their effects on BTC. Peace talks can shift Bitcoin’s price through energy costs, inflation and interest rates. In 2022, Bitcoin fell sharply, then rallied 27% above pre-invasion levels within a month. Spot Bitcoin ETFs now act as a direct channel for macro sentiment. Read more
Czech police have reportedly arrested darknet founder Tomas Jirikovsky in a $45 million Bitcoin bribery case tied to former Justice Minister Pavel Blazek’s resignation. Czech police have reportedly arrested darknet marketplace founder Tomas Jirikovsky in connection with a $45 million Bitcoin donation that prompted the resignation of former Justice Minister Pavel Blazek earlier this year. Czech police intervened in the Bitcoin (BTC) donation case that led to Blazek’s resignation on Thursday. According to Chief State Prosecutor Radim Dragoun, authorities were “securing people and things.” He added, “This is a criminal case that was recently separated by the police authority for independent proceedings from joint proceedings.” Although the statement did not mention any arrests, local reports suggested that police detained Tomas Jirikovsky, a convicted criminal who allegedly paid 468 BTC (worth around $45 million at the time) to the minister to avoid a new prison sentence. Read more
Bitcoin miners face rising competition from AI data centers for cheap energy, potentially driving a new wave of institutional investment, according to GoMining exec Jeremy Dreier. Bitcoin mining companies and artificial intelligence data centers are increasingly competing for access to cheap, sustainable energy, which could trigger renewed institutional investment in the mining sector over the next decade. AI data centers with deep capital reserves are beginning to outbid miners for power infrastructure, with more Bitcoin (BTC) miners getting “priced out” or deprioritizing mining activities, according to a July 31 research report from Bitcoin mining infrastructure provider GoMining Institutional. Still, the flexibility of Bitcoin miners allows them to expand into more off-grid locations with a lack of high-speed internet infrastructure, giving them an advantage over AI facilities, according to Jeremy Dreier, managing director and chief business development officer at GoMining Institutional. Read more