Daily Archives: May 14, 2017

An NSA-derived ransomware worm is shutting down computers … – Ars Technica

Posted: May 14, 2017 at 5:30 pm

A highly virulent new strain of self-replicating ransomware shut down computers all over the world, in part by appropriating a National Security Agency exploit that was publicly released last month by the mysterious group calling itself Shadow Brokers.

The malware, known as Wanna, Wannacry, or Wcry, has infected at least 75,000 computers, according to antivirus provider Avast. AV provider Kaspersky Lab said organizations in at least 74 countries have been affected, with Russia being disproportionately affected, followed by Ukraine, India, and Taiwan. Infections are also spreading through the United States. The malware is notable for its multi-lingual ransom demands, which support more than two-dozen languages.

Wcry is reportedly causing disruptions at banks, hospitals, telecommunications services, train stations, and other mission-critical organizations in multiple countries, including the UK, Spain, Germany, and Turkey. FedEx, the UK government's National Health Service, and Spanish telecom Telefonica have all been hit. The Spanish CERT has called it a "massive ransomware attack" that is encrypting all the files of entire networks and spreading laterally through organizations.

The virally spreading worm was ultimately stopped when a researcher who uses the Twitter handle MalwareTech and works for security firm Kryptos Logic took control of a domain name that was hard-coded into the self-replicating exploit. The domain registration, which occurred around 6 AM California time, was a major stroke of good luck, because it was possible only because the attackers had failed to obtain the address first.

The address appeared to serve as a sort of kill switch the attackers could use to terminate the campaign. MalwareTech's registration had the effect of ending the attacks that had started earlier Friday morning in other parts of the world. As a result, the number of infection detections plateaued dramatically in the hours following the registration. It had no effect on WCry infections that were initiated through earlier campaigns.

So-called worms, which spread quickly amid a chain of attacks, are among the most virulent forms of malware. Researchers are still investigating how Wcry takes hold. The awesome power of worms came to the world's attention in 2001 when Code Red managed to infect more than 359,000 Windows computers around the world in 14 hours.

"The initial infection vector is something we are still trying to find out," Adam Kujawa, a researcher at antivirus provider Malwarebytes, told Ars. "Considering that this attack seems targeted, it might have been either through a vulnerability in the network defenses or a very well-crafted spear phishing attack. Regardless, it is spreading through infected networks using the EternalBlue vulnerability, infecting additional unpatched systems."

Other organizations in Spain known to be disrupted include telecom Vodafone Espana, the KPMG consultancy, banks BBVA and Santander, and power company Iberdrola. The Blackpool Victoria Hospital in the UK reportedly pleaded for patients to seek treatment only for life-threatening emergencies after Wcry crippled its network. Portugal Telecom has also reported being infected. Meanwhile, Barts Health Hospital in London is redirecting ambulances to other facilities. At least two train stations showed signs of infections according to display pictures published here and here.

According to an article posted by Madrid-based El Mundo, 85 percent of computers at Telefonica, Spain's dominant telecom, are affected by the worm, although that figure has not been confirmed. Officials at Telefonicaand Spanish energy companies Iberdrolaand Gas Natural Fenosa have all instructed employees to shut down computers. While the paper confirmed an attack on Telefonica, it said it was not yet clear if the other two companies had been infected or ifthey ordered the shutdown as a preventative measure.

Wcry is demanding a ransom of $300 to $600 in Bitcoin to be paid by May 15, or, in the event that deadline is missed, a higher fee by May 19. The messages left on the screen say files will remain encrypted. It's not yet clear if there are flaws in the encryption scheme that might allow the victims to restore the files without paying the ransom.

People who have yet to install the Microsoft fixMS17-010should do so right away. People should also be extremely suspicious of all e-mails they receive, particularly those that ask the recipient to open attached documents or click on Web links.

This post was updated repeatedly over the first six hours it was first published to report newly available information.

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Rabbi accused of raping student ordered to testify at trial – Salt Lake Tribune

Posted: at 5:30 pm

Mirlis, who attended the school from 2001 to 2005, also alleges in the lawsuit that Greer sexually abused at least one other male student. The Associated Press generally does not name people who allege sexual assault, but Mirlis wanted to come forward, his lawyer said.

Greer has denied the allegations and has not been criminally charged. New Haven police say they're looking into a sexual assault complaint filed by Mirlis' lawyer, Antonio Ponvert III.

Greer and his lawyers, David Grudberg and William Ward, did not return phone and email messages seeking comment.

According to court documents, Greer invoked his right against self-incrimination at a deposition last year. His lawyers asked a judge to bar Mirlis from calling Greer to the witness stand, but the request was denied.

"Parading Mr. Greer before the jury to repeatedly invoke the Fifth Amendment privilege will only serve to paint him as 'a criminal who has probably eluded justice' in the eyes of the finders of fact, which will cause significant and irreparable prejudice in this case," Grudberg and Ward wrote in a motion filed last month, adding that Greer also would invoke his Fifth Amendment right if called to testify.

Although Judge Michael P. Shea denied the request this month, he said Greer's lawyers could object to specific questions to prevent Greer from having to repeatedly take the Fifth on the stand.

Ward has questioned why Mirlis came forward with the allegations years later and did not take the matter before a rabbinical arbitration court. He said the allegations have damaged Greer, his family and the good reputation he spent years building in the community.

Greer is a graduate of Princeton and Yale Law School who has testified before the state legislature several times on a variety of issues, including opposing same-sex unions in 2002 before the state approved same-sex marriage. He also is a former member of the New Haven police commissioners' board and a past chairman of the New Haven Redevelopment Agency.

He also led efforts to improve New Haven's Edgewood neighborhood.

Greer's daughter was among a group of Orthodox Jewish students who sued Yale University in the late 1990s, claiming the school's requirement that they live in coed dorms violated their constitutional rights. A federal judge disagreed and dismissed the lawsuit.

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The Second Amendment is not for sale, Michael Bloomberg – Washington Examiner

Posted: at 5:29 pm

There is no question that last year's election represented a significant victory for supporters of the Second Amendment and a defeat for those who want to limit our constitutional freedoms. The American people maintained pro-gun majorities in both the House and the Senate, elected a new president who believes in our God-given right to bear arms, and paved the way to protecting our freedoms before the Supreme Court. We're reminded, however, that there are still some in this country who believe the Second Amendment is for sale.

Despite our victories, it is more important than ever for the gun rights community to stand together.

After spending tens of millions of dollars in the 2016 election, former New York City Mayor Michael Bloomberg recently announced he is spending at least another $25 million in the 2018 election cycle. Bloomberg has said that this influx of cash will be spent to prop up anti-gun candidates and attack those who stand up for the Second Amendment. This liberal billionaire and his rich friends are clearly undeterred by the repudiation of their agenda by voters last year and will continue to fund the fight against our freedoms.

The good news is that Americans with concealed carry permits are among the most engaged of citizens, who put a premium on protecting themselves, their families, and their communities. This is a group of diligent citizens we as a country should be grateful for, not targeting for the erosion of their right to self-defense.

This is also demographic that has jumped through the bureaucratic hoops in order to comply with the laws of their state and obtain a permit to carry their personal firearm with them in public. Fortunately, lawmakers in Congress are moving to streamline concealed carry permit requirements at the federal level, and make national reciprocity a reality. Currently, there is a patchwork of reciprocity policies throughout the country, with some states recognizing certain out of state permits, in addition to their own, but it is inconsistent and causes unnecessary confusion for gun owners.

Sen. John Cornyn, R-Texas, and Rep. Richard Hudson, R-N.C., have introduced legislation that would allow concealed carry permits to be nationally recognized, giving gun owners the freedom to travel wherever they please without fear of being on the wrong side of the law. This legislation would allow anyone with a valid concealed carry permit to move freely from state to state without fear of being thrown into jail because their home state's permits aren't recognized elsewhere.

Yet, even though the 2018 elections are still far away Bloomberg and others who oppose the Second Amendment are determined to block these efforts and rollback our freedoms. Rights expressly written into the Constitution and granted by our Creator cannot be bought. There are approximately 14.5 million Americans who hold concealed carry permits, and they vote.

Spending $25 million to try to put anti-gun candidates into office is the same old political theater that everyday Americans are tired of watching. We have seen this show before, and voters will see this effort for what it truly is: efforts by the wealthy trying to make their personal opinion into public policy. At the U.S. Concealed Carry Association, we will continue to stand with all gun-rights supporters in opposing the efforts by Bloomberg and other anti-gun liberals and work together to protect our Constitutional freedoms.

Tim Schmidt (@TimUSCCA) is the president and founder of the U.S. Concealed Carry Association.

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Gay Rights and the OTHER First Amendment Right – National Catholic Register (blog)

Posted: at 5:28 pm

Blogs | May. 13, 2017

Unjust discrimination against individuals who identify as LGBT is a real problem. So is eroding religious freedom but in some cases another First Amendment right may be even more relevant.

Yesterday the Becket Fund for Religious Liberty released a statement announcingthat a Christian business owner finally won a case brought against him by gay plaintiffs alleging a civil rights violation:

A Kentucky court championed free speech today, ruling that the government cannot force t-shirt printer Blaine Adamson to create gay-pride t-shirts in violation of his religious beliefs. The court agreed with Becket, top legal scholars, and LGBT business owners, who all stood up for the rights of artists to choose what messages they would promote, without fear of government punishment. Todaysruling emphasizedthat the service [the printer] offers is the promotion of messages. The conduct [the printer] chose not to promote was pure speech.

Adamson is the owner of Hands On Originals, a small print shop in Lexington, Kentucky. Adamson regularly employs and serves LGBT individuals, and serves everyone regardless of race, gender, or sexual orientation. He also cares deeply about the messages he promotes. Just as pro-choice printers have declined to print pro-life messages, and LGBT printers have declined to print anti-gay messages, Adamson does not print messages that violate his beliefs. Following common printing industry practice, he only creates messages that align with his views, and has declined to create t-shirts promoting strip clubs, violence, and sexually explicit videos. Thats why LGBT business ownersstood upfor Mr. Adamsons right to choose the messages he promotes.

It doesnt matter what the speech is pro-gay, anti-gay, pro-immigration, anti-immigration the government cant force you to print it, saidLuke Goodrich, deputy general counsel at Becket, a non-profit religious liberty law firm.Thats the beauty of free speech: It protects everyone.

This seems to me an important case that may have implications for the wedding-industry wars.

So far as I know, Christian wedding industry professionals photographers, cake decorators and caterers have always lost in court for declining to provide services to same-sex weddings.

While I dont know a lot about the legal reasoning in those cases, whenever I see Christians discussing such casesthe issue seems to be framed as a question of the First Amendment right of religious freedom. I wonder this isnt a mistake.

As the Hands On Originals T-shirt print shops successful defense illustrates, religious freedom may thewrong First Amendment right at least in the case of photographers and cake decorators. (Caterers are probablyout of luck, at least as regards this line of thought.)

The strongestFirst Amendment defense for wedding photographers and cake decorators, I suspect, is not religious freedom, but freedom of speech.

Wedding photography is a service, but photography is also patently an art form, a form of communication. For the purposes of First Amendment constitutional law, it is a form of speech and speech, in First Amendment constitutional law, with very few exceptions, can be neither suppressed nor compelled.

An important caveat: Freedom of speech does not negate the principles of public accommodation and antidiscrimination law, which I support. I do not take the laissez-faire libertarian view that any business should have the right to refuse to transact with any potential customer or employee for any reason.

For instance, I dont believe that restauranteurs who are racists should have the right to refuse service to patrons of color or to relegate them to a separate counter, for instance. Nor do I support Christian business owners (or Muslims or Jews) with traditional beliefs about sexual morality refusing to serve individuals who identify as LBGT.

In saying this, Im going somewhat beyond federal antidiscrimination law, which prohibits discrimination against protected groups defined by race, color, religion, national origin, and disability, but does not protect individuals singled out for their sex or sexual orientation. (Discrimination based on sex and sexual orientation is prohibited in many areas at the state and local level.)

When it comes to discrimination and bigotry based on sexual orientation, both sides typically claim too much and concede too little. Christians should be willing to recognize and concede that while terms like hate and homophobia are overused to stigmatize all disapproval of homosexual acts, hatred and unjust hostility toward LBGT-identifying individuals is a real and important problem a problem too often found among individuals wrapping themselves in the mantle of traditional morality and traditional marriage.

To adhere to and to profess traditional Christian sexual morality, including the belief that homosexual acts are morally wrong, is not hate or bigotry,but hatred and bigotry are very much alive and well among those who profess to adhere to traditional Christian sexual morality.

The Catholic faith tells us that homosexual attraction and homosexual acts are intrinsically disordered, but it also tells us that same-sex attracted persons must be accepted with respect, compassion, and sensitivity. Every sign of unjust discrimination in their regard should be avoided (Catechism of the Catholic Church, 2358).

The Catechism wouldnt bother to say this unless such individuals had often not been accepted with respect, compassion and sensitivity and had often been treated with unjust discrimination.

When Christians meet with hostility and anger from LBGT individuals and their defenders, therefore, it behooves us to understand that behind that hostility and anger may often be painful experiences of mistreatment, rejection, stigma, ostracism and more. When this occurs in the Church, and still more when it involves the clergy, it can be even more devastating.

In view of this difficult reality, I believe Christians have a particular duty to oppose homophobia and gay-bashing in their own ranks and to stand up for dignity and respect for all human beings, including and even especially individuals who identify as LBGT.

We should also recognize that it is understandable for the state to take an interest in protecting LBGT individuals from unjust discrimination for holding, for instance, that peoples sexual self-identification or lifestyle, along with their race, color, religion and so on, is not grounds for refusing to serve them a meal at a restaurant, or for denying them other services at public accommodations.

Among other things, this would mean that a store that sells T-shirts cannot (and I would add should not) refuse to sell T-shirts to anyone because of their race or ethnicity, religion, sex, gender identification or lifestyle. A racist cannot refuse to sell to people of color, an atheist or a gay activist cannot refuse to sell to conservative Christians, and a Christian cannot refuse to sell to sell to atheists or gays.

By the same token, a T-shirt printer who printed a particular design or message for one customer should be willing to print the same design or message for a customer whose lifestyle he disapproves of.

In the case reported by the Becket Fund, though, another principle comes into play: free speech.

The Hands On Originals case highlights that not every kind of service in the public square is equivalent to buying a meal at a restaurant. Some types of services involve a form of artistic expression or speech that is protected under the First Amendment and these protections protect us all.

Free speech means a pro-choice graphic designer or commercial artist cannot be forced to print pro-life materials, nor can a pro-life graphic designer or commercial artist be forced to print pro-choice materials. A gay Web developer cannot be forced to create a website for a conservative Christian group, nor can a Christian Web developer be forced to create a website for a gay group.

This is a principle well understood and appreciated by the LGBT business owners cited in the Becket Fund press release, who supported Hands On Originals right to refuse to print pro-gay materials. All sides and all parties to this discussion should recognize the wisdom of Thomas Mores line in A Man For All Seasons about giving even the Devil benefit of law for my own safetys sake. (N.b. Like More, Im merely illustrating a principle, not comparing anyone to the Devil!)

Because photography is patently a form of artistic expression, Im troubled that the courts not so far found that a wedding photographer, or any other wedding industry professional other than clergy,has the right to decline to provide services for a same-sex wedding. Could this be because such cases have generally been predicated on religious freedom rather than free speech? I dont know, but I wonder.

I believe the principle that speech should be neither repressed nor compelled is so important that I would even defend the right of a white supremacist photographer not to photograph an interracial wedding. His views are despicable so despicable that I would want nothing to do with patronizing such a photographer, whether or not he had a problem with me but photography is speech, and speech should not be compelled.

The same considerations seem to me to apply to cake decorators, at least where the cake involves any kind of messaging, even figures of two grooms or two brides on the top. Im not talking about refusing to sell a cake to an LGBT person or couple, but to decorating the cake with a specific message.

I dont believe this principle should be controversial, although it is. In 2015 no less patently liberal and pro-LGBT a celebrity than Patrick Stewart offered a thoughtful defense for a baker who was sued for declining to put pro-gay messaging on a cake. The backlash was intense, obliging Stewart to clarify his remarks though he didnt back down on his opinion.

This line of thought would not, however, exempt caterers from catering the reception for a same-sex wedding. That would fall into the same sphere as a restaurant selling someone a meal, and would be regulated by applicable antidiscrimination laws.

Its no secret that free speech itself is under attack in many quarters of American life, notably in academia. The Hands On Originals case seems to me an important affirmation of a foundational principle that protects us all and is worth defending.

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Gay Rights and the OTHER First Amendment Right - National Catholic Register (blog)

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How to restore the First Amendment on campus – Washington Examiner

Posted: at 5:28 pm

There has been plenty of recent analysis devoted to today's age of rage on campus. Much of it focuses on the left's reaction to Trump-style populism. But I have been writing about the ways, means and ends of this dangerous phenomenon for much of the past decade. Herewith are five takeaways for your consideration.

1. Progressives delegitimize rather than oppose dissenting views

Adults understand the mere rendering of political opinion (whether right or left) does not constitute a personal threat or present a dangerous environment to the listener. This is common sense stuff, but unacceptable to those who are in the business of degrading opposing views. These folks magnify the meaning of "harassment" or "threat" by claiming that even socially acceptable opposing opinions create such a hostile environment that they feel physically threatened and in need of refuge (i.e. a safe zone). Here, opinions at odds with progressive doctrine are molded into hostile acts. Accordingly, "I watch Fox" or "I oppose racial quotas" or "I believe in traditional marriage" or "I oppose women in combat" are deemed qualifying aggressive actions. The accompanying loss of intellectual curiosity and intellectual engagement is not seen as problematic for campus practitioners and their faculty enablers. This magnification process has led to many ludicrous yet widely reported cases of harassment on campus.

2. The most severe strain of this theology legitimizes violence as an acceptable response

You may have seen interviews with defenders of campus violence over the past year. Their intellectual argument (such as it is) follows a familiar path: because the words employed by the offender are deemed threatening to the recipient he/she has no choice but to lash out at the offender. The irony of college students screaming "Nazi!" or "fascist!" while demonstrating in violent (often criminal) ways seems lost on the afflicted. Note that even the Berkeley police department buys into this fiction. These supposed keepers of the peace are instructed to intervene in campus protests only when the threat of imminent physical harm is at issue; mere property damage rampages do not qualify. In other words, good luck to you and your nice new car on the Berkeley campus.

3. Few progressives see their provocative actions as antithetical to traditions of free speech

I often ask my '60s-generation friends to compare their social activism with today's campus contrarians. Most are unimpressed with the current crowd. No surprise here. The great cultural movements of that era (women's, civil rights, anti-war) were all about dissent and protest sometimes crossing the line into civil disobedience. Indeed, it was during this time that Berkeley became the "home" of the free speech movement. Fifty years later, it has become home to lawlessness and illiberal demands for the silencing of alternative opinion. What could be more damaging to speech than uninviting conservative speakers to campus or shouting them down once they get there?

4. Post-grad snowflakes are in a world of hurt

There is not much data devoted to what occurs when progressive millennials graduate from their isolation zones and are forced to deal with post-graduation reality. And I don't mean graduate school. I'm talking about the real world the one where you either sink or swim in the private marketplace where missing work, in order to demonstrate against some real or perceived social injustice, is decidedly not cool.

Some difficult questions come to mind: Do sit-ins follow the realization that there are no safe zones in the graduate's new workplace? To whom do you send the endless list of micro-aggressions perpetrated on you by your insensitive, mean boss? How to deal with one's "feelings" after suffering the slings and arrows of a poor job review? Where do underperforming employees go to feel better about themselves?

Of course, the lefty administrators and professors who have executed this P.C. hoax on impressionable young minds have no such problems. They did their job just punched the clock and turned out a whole new generation of victims and social justice warriors. But millennials should not expect them to engage in private sector protests as they tend to stay safely ensconced in their tenure-protected ivory towers. Just doesn't seem fair

5. What to do?

Numerous conservative pundits have urged the new administration to withhold federal funds from schools that serially fail to protect First Amendment rights. (The feds already have the power to withhold dollars from institutions that violate anti-discrimination laws.) We can only hope Mr. Trump will wield his big stick in support of speech.

A tough-minded response is required because our unfortunate cultural experiment in too many participation trophies (and far too little parental guidance) has backfired. The resulting generation of overprotected and self-absorbed adolescents is ill-prepared for life's myriad challenges and disappointments. Many of these same students "feel the Bern" because life is so unfair and because "Democratic socialism" sounds so cool. Lost in the process has been learning, social engagement, critical thinking, and personal growth at $50,000 a year to boot.

Ironically, the same institutions of higher learning that have presided over this silliness will soon be hitting you, parents and alumni, up for your annual giving contribution. A portion of this money will be used to pay the salaries of arrogant elitists who preach illiberal, hateful lessons aboutyou. Here's a thought: Maybe you should see that annual giving solicitation as your very own micro-aggression, and just say "no."

Gov. Robert Ehrlich is a Washington Examiner columnist, partner at King & Spalding and author of three books, including the recently released Turning Point.He was governor of Maryland from 2003 - 2007.

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The First Amendment still counts on college campuses – Washington Post

Posted: at 5:28 pm

May 12

The May 11 editorial How to respond to nooses on campus urged university administrators to make crystal clear that racist signs, symbols and speech are off-limits.

But banning racist speech at a public university violates the First Amendment. When George Mason University attempted to do that in 1991, a judge ruled against it, declaring,The First Amendment does not recognize exceptions for bigotry, racism, and religious intolerance. Even at a private university, banning all racist speech may violate contractual academic-freedom guarantees or free-speech provisions in college handbooks. Speech that campus progressives and college officials view as racist may be viewed as sensible and non-racist by moderates or conservatives. That is especially true on topics such as immigration and affirmative action, which are sometimes viewed as racially charged. These topics need to be discussed on campus, even if that offends some people.

Hans Bader, Arlington

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What is a Pegged Cryptocurrency? – The Merkle

Posted: at 5:27 pm

Cryptocurrency enthusiasts are always at the mercy of price volatility. This is especially true for altcoins right now, although Bitcoin is also going through some violent swings of its own. Some projects have even tried to create a pegged cryptocurrency, although efforts have been mostly unsuccessful as well. There is a good reason as to why that is, though.

As the name somewhat suggests, a pegged cryptocurrency indicates a coin, token, or asset issued on a blockchain that is linked to a specific value of a bank-issued currency. In most cases, these coins would be pegged to the US Dollar, as it is the one currency that dominates the entire financial sector. Tether has made some waves in this regard, as their USDT token is pegged to US$1 at all times.

It is vital to understand one cannot simply claim a coin or token is linked to the value of 1 US Dollar without enforcing this fact, though. To be more specific, the cryptocurrency project owners will need to have the specific amount of US Dollars in reserves at all times to guarantee the pegged value of their cryptocurrency. This becomes even more important when said cryptocurrency can be openly traded across multiple exchanges.

Holding vast amounts of US Dollars in reserve is one of the major challenges for pegged cryptocurrencies, though. There are ways to achieve this goal, either through investors or fundraising. The teams collect x amount of money and issue their number of tokens accordingly. However, this also means there will be no profit to be gained from buying or selling the currency since it will always have the same fiat currency value.

Even if the project would successfully maintain its 1:1 peg to the US Dollar for an extended period of time, they would face a new problem. Regulators do not take kindly to companies looking to link the value of a central bank-issued currency to something created out of thin air. It is safe to say one would need some specific paperwork and potentially even licenses in most countries to provide such a service. Additionally, the company needs to keep a public record of their assets at all times to ensure they have adequate reserves.

More importantly, there needs to be a decent enough demand for the pegged cryptocurrency to make it a worthwhile venture. This has been the downfall for quite a few projects attempting to guarantee such a service. Ziftr, for example, never gained much traction, despite their coins pegged to US$1. If the supply is greater than the demand, one would need very deep pockets to keep offering this service. Unfortunately, the money will dry up sooner or later in that case.

Even successful projects such as Tether run into problems of their own. Due to issues with their partner bank, they are unable to convert the pegged currency back to US Dollars for now. There are exchanges who provide a USDT/USD trading pair, yet the premium to convert back to USD is quite steep. All of this shows creating a pegged cryptocurrency is not evident by any means, and there will always be risks associated with doing so.

If you liked this article, follow us on Twitter @themerklenews and make sure to subscribe to our newsletter to receive the latest bitcoin, cryptocurrency, and technology news.

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Will Palestinians Consider Cryptocurrency as a De-Facto Currency? – newsBTC

Posted: at 5:27 pm

The Palestinian Monetary Authority is considering the possibility of introducing its own cryptocurrency in the next few years. Read more...

Bitcoin has already proven its potential to act as a universal currency, overcoming geographical, cultural and political differences. The cryptocurrency has been a savior to many in suffering economies, throwing them the much-needed lifeline in the form of an alternative currency. The recent legalization of Bitcoin in Japan and Russias consideration to assigning a similar status to the digital currency has got another geographical region thinking along the same lines.

According to reports, the Palestinian officials are planning to create their own digital currency in the next five years to establish an autonomous financial system. The new cryptocurrency based system is expected to reduce the regions dependence on its neighbor Israel while safeguarding itself against potential external interferences.

Currently, people in the region do not have their own legal tender, and most of the transactions happen either in euro, US dollar, Israeli shekel and Jordanian dinars. With the new digital currency, the Palestinian state will be able to conduct transactions with its own legal tender. The Palestine Monetary Authority already has a name for it, and they intend to call it Palestinian pound.

The decision was made public by the Head of Palestinian Monetary Authority, Azzam Shawwa while participating in the annual meeting of European Bank for Reconstruction and Development held in Cyprus. The ease of creating a digital currency, compared to printing banknotes may make this project successful in the conflict-ridden region. However, there are concerns about the 1994 Paris Protocol Agreement which has effectively revoked the monetary authoritys power to print its own currency.

Mentioning the monetary authoritys choice of cryptocurrency over conventional banknotes, Shawwa said,

If we print currency, to get it into the country you would always need clearance from the Israelis and that could be an obstacle, so that is why we dont want to go into it.

As the state continues to build the necessary infrastructure to rebuild its financial system, the Palestinian pound is not going to make an appearance anytime soon. It may take almost five years before the first Palestinian pound transaction can take place. But it is a good start nevertheless.

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Will Palestinians Consider Cryptocurrency as a De-Facto Currency? - newsBTC

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Launching Today: Liberalcoins.com the First One-Stop-Shop for Cryptocurrency Trading – newsBTC

Posted: at 5:27 pm

The next generation of cryptocurrency trading has arrived: Liberalcoins.com is the first local cryptocurrency exchange that offers Bitcoin and Altcoin trading for cash as well as inter-cryptocurrency trading all under one roof. The new user-friendly platform charges the lowest fees in the market and offers unrivalled security features. Free registration is now open.

Liberalcoins is the brainchild of entrepreneur Simon Lange, 26, who addresses the need for more flexibility, privacy and safety in the cryptocurrency exchange market. After two years of development his international one-stop-shop for crypto trading launches today (13/5/2017).

With its secure, intuitive and easy interface, Liberalcoins is perfect for newbies who want to start their crypto portfolio as well as for experienced traders. Users can find local traders via the platform and arrange to meet face to face for cash for Bitcoin or cash for Altcoin exchanges. Alternatively, they can choose from a wide array of wire and transfer services.

Bitcoin/cash trades are charged at 0.5% per completed transaction. This is the lowest fee in the market.

Heres the brilliant thing: The platform aims to unite the diverse cryptocurrency market by also facilitating trades between cryptocurrencies. This will give users the option of easily balancing their cryptocurrency portfolio, and has potential to further drive the demand for Altcoins on the back of the recent surge in Bitcoin prices.

Currently supported are exchanges between Bitcoin, Dash, Monero and Litecoin in any combination, giving traders ultimate flexibility when balancing their portfolio. As Lange puts it, Liberalcoins has the potential to bring the cryptocurrency community closer together to drive towards a common goal a stronger integration of digital currencies into our daily lives.

The company has gone to lengths to offer the best security features on the market: Shortly after launch, users will be able to encrypt access to their assets with a password an industry first.

A built-in escrow system releases the coins after the transaction is completed. Liberalcoins is business validated by Symantec, which also runs daily security checks. Users also benefit from the stringent privacy laws of the Isle of Man and Scandinavia, where servers and email storage are located respectively.

At Liberalcoins we seek to give traders the opportunity to trade and invest in digital currencies minimizing dependence on the global banking system, says Lange. We firmly believe in the future of cryptocurrencies and the security and privacy of our users.

We strongly advocate that the cryptocurrency market remains free from any governmental regulatory and legal intervention. In an economic reality of historically increasing inflation, rising prices and central bank printing of fiat currencies we are part of the evolution of our financial future.

Join Liberalcoins.com today to be a part of the evolution in digital currency trading and become part of the community. To keep up with news and developments that will help traders with their investment decisions, follow Liberalcoins on Facebook, Instagram, Twitter, Steemit and Liberalcoins Blog.

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Top 5 Cryptocurrencies in Japan – The Merkle

Posted: at 5:27 pm

It is evident for everyone to see Japan is going crazy about cryptocurrency right now. This is made possible thanks to the new regulations going into effect, which removed the 8% sales tax when buying Bitcoin and other cryptocurrencies. It is also interesting to note several cryptocurrencies are incredibly popular in Japan, whereas others are not that hot. All of the coins listed below are ranked based on their JPY trading volume.

Although this particular cryptocurrency has eluded the vast majority of enthusiasts, MonaCoin is quite popular among JPY traders. It is listed on the Zaif exchange, where it can be traded against Bitcoin as well. MonaCoin was also one of the altcoins successfully activating SegWit before Litecoin did.

The native token of the New Economy Movement has seen its fair share of success in Japan as well. It is a currency maintained by a team of Japanese developers. Moreover, XEM and its NEM blockchain have made quite a name for itself in Japanese circles as well. Definitely a currency to keep an eye on moving forward.

A lot of people will be shocked to learn Ethereum is not all that popular when it comes to buying or selling it in exchange for the Japanese Yen. Then again, these are still the early days for cryptocurrency in the country, and things may continue to shift around for quite some time to come. Ethereum is very popular when traded against bitcoin, though, as is to be expected.

It comes as quite a surprise to a lot of people to learn Ripple or to be more precise, XRP is quite popular among Japanese cryptocurrency enthusiasts. Various exchanges list XRP as one of their trading pairs, and it seems to do quite well overall. In most cases, XRP can be traded against the JPY only

There is one big exception to this trend, though. The Mr. Ripple exchange which is mostly known for buying and selling XRP trades the currency against the JPY, USD, Bitcoin, and Ethereum. Its JPY market is by far the largest on the platform, although the XRP/BTC market is quite popular as well. It is quite interesting to see Japanese exchanges dedicated themselves to one particular currency and even naming the platform after it.

Regardless of where one looks in the world, Bitcoin will always be the most popular traded currency against fiat. Japan is no different in this regard, as all exchanges allow for BTC/JPY trades by the look of things. It is due to this trading pair these platforms are so successful during the initial stages of Japanese cryptocurrency adoption.

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Top 5 Cryptocurrencies in Japan - The Merkle

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