Daily Archives: July 21, 2021

Governments Increase Pressure On Twitter To Censor Journalists – Forbes

Posted: July 21, 2021 at 12:31 am

Photo by Leon Neal/Getty Images

Governments are increasingly demanding the removal of journalist content from Twitter, the company's latest Transparency Report shows.

During the second half of 2020, says Twitter, it received 361 legal requests from governments to remove content from the verified accounts of 199 journalists and news outlets, up 26 per cent on the first half of the year.

Overall, the company says it received 38,524 legal demands to remove content specifying 131,933 accounts.

"Although there was a nine per cent decrease in the number of legal demands Twitter received, compared to the previous reporting period, these requests sought removal of content from the largest number of accounts ever in a single reporting period," says Twitter.

Twitter removed some or all of the content concerned in 29 per cent of cases almost all of which came from Japan, India, Russia, Turkey and South Korea.

Meanwhile, India has overtaken the US as the country making the most legal requests for information about accounts, representing a quarter of the total global volume and 15 per cent of the total number of accounts.

India has recently introduced new legislation aimed at regulating social media companies more tightly, and requiring them to appoint India-based chief compliance officers, nodal officers and grievance officers. The government has also stripped Twitter of its safe harbor immunity, meaning it is no longer protected from legal proceedings in the event of unlawful content posted by users.

The US, meanwhile, accounted for 22 per cent of information requests, and more than a third of emergency requests.

Twitter has also introduced a metric for tweets that violate its policies, and says that impressions on these tweets accounted for less than 0.1 per cent of all impressions for all tweets globally.

Of the 3.8 million tweets it removed for violating rules, more than three quarters received fewer than 100 impressions before they were pulled, with only six per cent getting more than 1,000 hits.

Enforcement of rule violation was up in several categories by 142 per cent in the case of abuse and harassment, 194 per cent for non-consensual nudity, 77 per cent for hateful conduct and 175 per cent for civic integrity violations such as the sharing of misleading election information.

Meanwhile, the number of accounts targeted for promoting suicide and self-harm nearly tripled.

There was only a six per cent rise in the number of accounts suspended for violations of Twitter's child sexual exploitation policy, and a 35 per cent fall in suspensions for terrorism and violent extremism.

However, says Twitter, "Varying country-specific Covid-19 restrictions and adjustments within our teams affected the efficiency of our content moderation work and the speed with which we enforced our policies."

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Tucker Carlson: Your private conversations will be controlled by the DNC – Fox News

Posted: at 12:31 am

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Last March, as the first big clusters of coronavirus cases started to appear in this country, media executives in Silicon Valley coordinated with officials in Washington to determine how much the public was allowed to know about the growing epidemic that was killing them.

Mark Zuckerberg of Facebook emailed Tony Fauci at NIH, to assure him that Facebook users would see only Tony Faucis approved guidance on COVID-19. Twitter and Google effectively did the same.

Twitter and Google eliminated any post that deviated from Washingtons official line. In many cases, they censored information from front-line physicians that was both medically sound it was the science and potentially lifesaving. Posts about treatments for example were downplayed. They have never apologized for this, they probably never will.

Historians will assess it. They will likely record the early days of COVID-19 as a turning point in our society an unprecedented assault on our most basic civil liberties, that somehow very few people seemed to notice when it first started happening. The usual stooges and think tank libertarians assured us at the time none of it was a big deal. Soulless multinational media monopolies censoring essential medical information? No problem. Thats how the free market works. Build your own Google if you dont like it. Start your own NIH. And anyway, in private you can still say what you want. Youre still free. Its not like this is North Korea. So calm down, conspiracy nut. Youre starting to sound like Alex Jones. Most of us obeyed, we dutifully calmed down, and went back to Netflix.

We shouldnt have. Today we learned the Biden administration considers censorship is applicable to private speech as well. What you say in private, when youre alone with your phone, you wont be able to say or read what you want because the DNC plans to control and apparently have the ability to control the flow the information you receive on your phone. Nothing that questions official regime policy will reach you. According to a report in Politico and believe it or not, we're quoting here directly:

"Biden allied groups, including the Democratic National Committee, are planning to engage fact-checkers more aggressively, and work with SMS carriers to dispel misinformation about vaccines that is sent over social media and text messages."

We'll say that again because its a sentence we never thought wed see written in English: The DNC is planning to censor any quote, "misinformation about vaccines" that you receive privately over text message. What does "misinformation" mean? Its not the same as false information, as factually inaccurate information. Misinformation can be factually true. In fact, it very often is factually true. Thats why theyre angry about it.

Misinformation is anything the Biden administration doesnt want you to know including, for example, how effective the COVID vaccines actually are, and what the potential side effects from them might be from taking them.

Lets say youre interested in finding out that information and looked it up from the administrations own official websites, starting with the VAERS database. Youre no longer allowed to text what you find on their database to other people in this country the country you were born in. Your private conversations will be controlled by the DNC. Is that the picture of a free country?

Looks like we should have worried about civil liberties last year when all this started. "Its a global health emergency. We have no choice. Things will go back to normal when it ends." But will they go back to normal? If the government can ban discussion of the drug theyre making you take, what cant they do? And by the way, are they doing this now, expanding censorship on the conversation about the pandemic as the pandemic recedes? The COVID vaccines have been around for more than seven months. Pretty much everyone who wants a shot has had one. You can get the shot very easily theyre free.

According to the administration, the vaccine works perfectly, so vaccinated people are protected from COVID. Theyre bulletproof. They cant get sick. Thats why they took the vaccine in the first place. So why is official Washington so angry at the people who wont get vaccinated? How precisely do they propose a threat? It makes you think that maybe none of this is really about COVID. Maybe its about social control. Tony Fauci all but admitted that the other day. Heres what he said:

Jake Tapper: I know you have been very clear that the government isn't mandating vaccines, but do you think it's generally a good idea for businesses or schools to require vaccinations? Anthony Fauci: Right. I have been of this opinion, and I remain of that opinion, that I do believe, at the local level, Jake, there should be more mandates.

"There should be more mandates." Actually, they didnt tell us that. Do you remember hearing that when they first rolled out the vaccine, that were for mandates? No, they said theyre not for mandates actually but now they are. These drugs will be mandatory, in many places they already are. If you want to get an education, for example, you need to take one. Many questions arise from this deep questions about civil liberties and what it means to be a free country. But even on a medical level, questions arise for example: Do we know enough to make these drugs mandatory?

Just today, The Washington Post reported that the FDA is preparing to announce a new warning for the Johnson and Johnson coronavirus vaccine, saying it's been linked to a nerve DISORDER called GBS, which can cause paralysis and has. Millions of people in this country alone have taken the Johnson and Johnson shot, but other vaccines could be implicated, too. According to the government's own VAERS database, which tracks vaccine side effects, GBS has been reported as a potential symptom for every other COVID vaccine too. Thats not a small thing. If that sounds familiar, you must be over 40 and have a decent memory.

You may recall that in 1976, the federal government ended its mass vaccination program for influenza after several hundred people came down with GBS. People started asking questions, and very quickly, the Ford administration determined the vaccine wasn't worth the risk. But that's not happening now. People are not asking those questions because they cant theyre not allowed to in public. This is one of the only platforms in all of American media that can operate outside the control of tech monopolies and ask obvious questions. Its not because we're against vaccines we certainly are not but because you have a right to know a lot before you take a medicine. But Tony Fauci isn't stopping the vaccines in the United States. Instead, he's accusing anyone who has questions about the vaccine of having a sinister political motivation. They must be QAnon:

Anthony Fauci: You know, Jake, it's an inexplicable pushing back on the part of some people about getting vaccinated. // I mean, we have got to put aside this ideological difference or differences thinking that somebody is forcing you to do something.//I really don't have a good explanation, Jake, about why this is happening. I mean, it's ideological rigidity, I think. There's no reason not to get vaccinated. Why are we having red states and places in the South that are very highly ideological in one way not wanting to get vaccinations?

So Fauci on the one hand says this should be mandatory and then moments later says for some reason people think we are forcing this on them and thats "inexplicable." They must be right-wingers. You think if you were interviewing them youd say, "Wait a second, didnt you just say it should be mandated? Maybe thats why they think its mandated because you said it was."

But Faucis claim the resistance to the vaccine is somehow political is a bad-faith attack posing as science. In fact, it has been the Democratic Party, very much Anthony Faucis party, that has engaged in partisan discussion about the vaccine from the very first day. Less than a year ago, in September 2020, Kamala Harris announced that the coronavirus vaccine might be dangerous. Why? Because Donald Trump oversaw its development, she said, "is going to be an issue for all of us." Really? No longer an issue because Kamala Harris is in charge. So now that shes in charge anyone asking obvious questions, even nonpartisan questions, must be a White supremacist. Heres Dick Durbin of Illinois doing his best today to divide the country further along partisan lines, because that helps him, and tar anyone who wants more information about a specific drug as a lunatic who is against all vaccines:

Dick Durbin: There are two hosts of programs on Fox Primetime that can only be characterized as anti-vax quacks. Im referring of course to Tucker Carlson and Laura Ingraham. They have been spreading what I consider to be irresponsible information about vaccines across America and about effort of this nation to deal with them.

Spreading irresponsible information. Notice Durbin doesnt accuse us of spreading false information. He did not accuse us of being factually wrong. We havent been. Nor are we against vaccines. Few Americans are against vaccines. Virtually every American has had a ton of vaccines and was expecting to take this one. But when you refuse to answer basic questions about the vaccine and when you dodge them with partisan talking points like that, you make people nervous, Americans have the right to have basic questions answered before taking a medicine, that is their right. But Durbin, and hacks like Fauci, persist in pretending that any resistance to mass vaccination is somehow partisan. That's a lie its a provable lie. Take a look at numbers from the government's own accounting. It turns out that it's African-Americans the Democratic Partys most faithful voters who are still the most hesitant to getting vaccinated. Its not an attack, just an observation.

According to the CDC, from the period of Dec. 14, 2020, to July 12, 2021, a total of 26.2% of African Americans have gotten one dose of a COVID vaccine. Only 23.7% of African Americans are "fully vaccinated."

Those are the lowest number of any racial or ethnic group that the CDC tracks, by a significant margin. We dont judge anybody for taking or refusing to take the vaccine. Medical choices are by definition personal choices. They are not choices that politicians get to make for you. You should never be forced to take medicine you dont want, period. That used to be a common observation. In fact, many people like Dick Durbin, who are attacking anyone who has questions as partisan or racist, are the very same people who told us for decades that they were very upset about the Tuskegee syphilis experiments and they were right to be upset about those experiments, Now theyre telling you that anyone who resists mandatory vaccination is a White supremacist this is the talking point of the moment. You know that because it was on MSNBC from their in-house doctor:

Dr. Chris Pernell: I dont have any tolerance for the anti-vaxxer movement. And I dont have any tolerance for politicians who befriend, who cozy up to, or become allies of that movement. I actually see that as another example of the proliferation of White supremacy. Because in particular, they are targeting communities of color, and they are targeting the historical injustices, the atrocities, that communities of color have experienced, as a way to play on their vulnerabilities.

Imagine someone who would say something so provably untrue, factually untrue, so irresponsible and so divisive having a medical license in this country. That person does. Something is very wrong with our system. Shes claiming African Americans aren't taking the vaccine because White supremacists have asked questions about the vaccine. That's lunacy, of course. A reporter at CNN recently spoke to someone else who offered another explanation for it. It turns out there are people out there maybe because of doctors you just saw who no longer believe the medical experts on cable news anymore:

Amara Walker, CNN correspondent: Do you plan to get vaccinated? Destiny Britt: No time soon. WALKER (voice-over): Twenty-one-year-old Destiny Britt says she's given the COVID-19 vaccine a lot of thought. BRITT: Don't take it as being rebellious. Listen to and understand and be compassionate and sympathize of the history of black people, black and brown people, and the medical industry. WALKER (voice-over): The Atlanta native is skeptical of the vaccines thanks in large part due to the legacy of the unethical Tuskegee study in which Black men with syphilis were deliberately not treated // BRITT: And the more that it's a push for me to go get vaccinated, it makes me not want it even more.

"The more that it's a push for me to go get vaccinated, it makes me not want it even more." And of course, that makes sense. If the vaccine is so great wouldnt it sell itself? There would be no reason to force people to take it.

But people are being forced to take it. The people who are trying to force us are the ones who lectured of for decades about "my body my choice"they are leading the way. The levels of irony here are exhaustible.

The former head of Planned Parenthood, who is a truly irresponsible person called Lena Wen, just went on television to explain how to force millions of Americans to take the drug. It's easy, she said. Just make their lives as miserable as possible until they comply:

CNN Medical Analyst Dr. Lena Wen: It needs to be hard for people to remain unvaccinated. Right now, its kind of the opposite. Its fine. Its easy if youre unvaccinated. You can do anything you want to do anyway. At some point, these mandates by workplaces, by schools, I think it will be important to say, hey, if you want to opt out, but if you have to sign these forms, get twice-weekly testing. Basically, we want to make getting vaccinated the easy choice. That is what its going to take for us to actually end the pandemic.

You wonder the damage this is doing to the credibility of the medical establishment. Most Americans grew up believing in science, believing their doctors, they had every reason to, we led the world in science. Our health care was the best in the world expensive, granted but very effective and the outcomes were remarkable compared to any other place on the planet. That was a system like all systems that worked on trust. You trusted what the medical authorities said. But when they start talking like that, when they start making claims that have no logic, no clear medical justification, theyre just transparently political in that case clearly illegal when they start talking about punishing Americans who dont want to do their will, follow instructions they refuse to explain, policies that will not account for using data, instead they throw talking points at you and bumper stickers and attacking you as immoral whos going to believe them ever again? The damage they are doing to our system is profound. And you think people on the other side would stand up for Americans the Republican Party anyone? Some are, most arent.

And mediocrities like Asa Hutchinson, who pretends to be governor of Arkansas, are in fact joining in and promoting it. Adam Kinzinger, a Republican congressman from Illinois, just demanded that every American take the coronavirus vaccine on national television:

Adam Kinzinger: This is outrage politics thats being played by my party and its going to get Americans killed. Our party has been hijacked, my party has been hijacked. It is on its way to the ground and for some people its a fun ride but this plane is going to crash into the ground. (edit) I call on Leader McCarthy. I call on every leader in the Republican party to stand up, say 'get vaccinated,' and to call out these garbage politicians, these absolute clown politicians playing on your vaccine fears for their own selfish gain.

Adam Kinzinger, in his defense, has a low IQ and cannot be held fully responsible for most of the things he said. But neither he nor anyone else who is making that case has answered a very simple question: why should people whove recovered from COVID-19, and there are millions in this country who are immune to the virus, why should they be forced to get the vaccine? Whats the answer? Whats the harm rate from the vaccine? Why cant we ask? Whats the answer? When you attack people rather than answer their questions they dont trust you anymore and they dont trust the drugs you say they must take and thats a shame. Were not attacking the vaccine, never have. We dont judge anyone who takes it and we never will. We judge people like that.

And where are the Republicans when they learned the Biden administration decided they can police your text messages? That the DNC is in charge of what you text to other Americans? There is almost no resistance to it in Washington. That means it's likely going to get worse.

And for people who are working in the United States military, who must obey, its going to get much worse. It's clear now that the military is going to expel anyone who doesnt get the shot.

The Department of the Army headquarters just announced an executive order to make the vaccine mandatory by Sept. 1. It's the first time since the Army forced soldiers to take a vaccine since the anthrax vaccine a decision that killed and injured several soldiers. One naval officer explained how he's being coerced.

Quote: "I'm a naval officer who's spent the last 15 years on active duty. I'm now potentially facing forcible discharge if I won't submit to taking the COVID vaccine. ... I've spoken to two command chaplains regarding religious exemption (I'm a Christian abortion abolitionist and cells from aborted children were used in the vaccines' development), and am told exemptions won't likely be granted. So, my choices are vaccination and forcible discharge."

There's no scientific basis for this. In the thread, the naval officer lays out the data to prove how unnecessary this is. The numbers are straight from the Department of Defense's website.

Quote: "202,567 active duty service members have had COVID, of whom 26 have died. [That's] better than a 99.987 percent survival rate."

Those are the numbers, no ones disputing them. Not Adam Kinzinger or Dick Durbin. No one disputes the number so whats the answer? There is no answer. The government is purging the military, and spying on its own citizens, because of a virus that isn't killing very many people anymore. And keep in mind: vaccination isnt like voting. They dont trust you to do it yourself at home and mail in the results. Theyre keeping track. How East German is this country becoming? The FBI just announced in a tweet that it's encouraging Americans to snitch on family members who exhibit signs of "extremism." The federal government the Biden administration is encouraging your family to snitch on each other. Does extremism apply to people who have questions about the vaccine? Of course, it does.

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In March, the FBI put out an official bulletin announcing they'd be cracking down on fake vaccine cards. Since then, undercover agents all over the country have been arresting people for distributing unapproved vaccine documents bearing an official government logo. They just conducted a sting operation that nabbed the owner of the Old Corner Saloon in the small town of Clements, California, for example. What's interesting is that the FBI hasn't put out any bulletin on illegal immigrants using fake driver's licenses or Social Security cards lately thats endemic, thats everywhere. They haven't shut down any businesses or harassed any California bar owners for hiring illegal immigrants at a time of mass unemployment. Why havent they done that?

You know the answer. The people running the government have one standard for enforcing the law for people who agree with them, and a different one for those who don't agree with them. That is third world. Now those same people just gave themselves the power to read and censor your text messages. We got to resist this, you cant let this continue. Or else youre going to wake up in a very different place from the place you were born.

This article is adapted from Tucker Carlson's opening commentary on the July 12, 2021, edition of "Tucker Carlson Tonight."

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Social Media Drags WWE for Censoring Charlotte Flair at Money in the Bank – PopCulture.com

Posted: at 12:31 am

Charlotte Flair is back on top as she defeated Rhea Ripley to win WWE's Raw Women's Champion at Money in the Bank on Sunday night. And while some fans were happy Flair won another title, the majority of fans watching on Peacock were upset with what they did with "The Queen." At the start of the match, Flair gave a middle finger to the crowd, which was censored by the streaming service and WWE. This led to an uproar on social media, but the question is why did Flair do it?

Last year, Flair went on Raw Talk and sent a message to her haters. "It's not about who gets under my skin, it's about why they get under my skin, she said, per Sportskeeda. "I see, I hear, and I read what people say about me that I'm entitled that I'm always in the title picture. Here's the thing, I am the only person that shows up to work 365 days a year. I'm never sick, I'm never hurt, I'm the hardest working person in this company. I'm on RAW, I'm on SmackDown, hell, I do media for FOX and I'm not even on FOX and then they sent me to NXT. I do anything and everything they ask because I love this business and I strive for greatness." Here's a look at social media going after WWE and Peacock for censoring Flair.

One fan wrote: "First Peacock tries censoring a middle finger and now they're trying to censor the entire show.

Another fan wrote: "Screen went black at #MITB I thought The Fiend was about to get in the match. But it was just Peacock trying to sensor Charlottes middle finger."

Another fan thought a big return was happening during the match. The person wrote: "I thought someone was making a return. Nope just the network blocking Charlotte's middle finger to the crowd."

One social media user wrote: "Half the WWE universe thought The Undertaker was going to appear. The other half were waiting for Alexa. Nope, just a middle finger."

"Nice editing by peacock by going to black then coming back as Flair had a middle finger up, cant wait to watch all the censored Austin stuff," another fan noted.

One WWE fan said: Its kinda disappointing on Twitter when a 30-second return, crowds and a middle finger are a bigger topic of conversation than any of the matches themselves. You can say this was the greatest ppv but that does say a lot."

"Charlotte lost it at the 'we want Becky' chants. HAHAHHAHAA & they tried to cut the crotch chop & middle finger. Im weak!" a fan wrote.

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Hawley hammers Facebook and Twitter on collusion with Biden administration to censor speech – kttn

Posted: at 12:31 am

Senator Josh Hawley (R-Mo.) sent letters to Facebook CEO Mark Zuckerberg and Twitter CEO Jack Dorsey demanding answers on their collusion with the Biden administration to suppress free speech. Senator Hawley said the revelations raise questions as to whether the platforms are operating as arms of the federal government.

Senator Hawley writes,This casual admission of collusionbetween the state and corporations that have monopolized the flow of information and therefore dictate the terms of service for the public squareis shocking. The First Amendment is sacrosanct, and it is unconscionable that the federal government has evidently enlisted private actors to police speech in ways that they are unable.

Senator Hawley requested the CEOs provide a full account of social media content flagged by the Biden administration, what content they have been asked to remove, and what content has been removed following the requests.

Read the full letter to Facebookhereand the full letter to Twitterhere.

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Bitcoin drops back below $30,000, heads toward new low for the year – CNBC

Posted: at 12:30 am

A representations of virtual currency Bitcoin is seen in front of a stock graph in this illustration taken May 19, 2021.

Dado Ruvic | Reuters

The price of bitcoin dropped below $30,000 late Monday night for the first time since Jun. 22, dragging other digital coins lower with it.

Bitcoin is trading in the $29,000 range, about 3% lower on the day, according to Coin Metrics. Ether is down 1.25% and XRP fell 4%. Even with the plunge bitcoin is up 2.3% for the year, according to CoinDesk data. Ether and XRP are both up about 140% for the year.

The plunge came amid news that the New Jersey Attorney General issued a Cease and Desist Order against the New Jersey-based crypto services firm BlockFi, ordering it to stop offering interest-bearing accounts, according to Forbes and later confirmed on Twitter by the company CEO.

It also came after a big sell-off in global stock markets Monday, when the Dow Jones Industrial Averagehad its worst day since last October, though the markets reclaimed much of their losses Tuesday.

"There's been a broad sell-off in global markets, risk assets are down across the board," Annabelle Huang, partner at cryptocurrency financial services firm Amber Group, said.

There are "concerns of the quality and strength of economic recovery" and "broader risk assets turned weaker including high yields," Huang said. "Coupled with recent BTC (bitcoin) weakness, this just sent crypto market down further."

At one point early Tuesday, about $89 billion was wiped off the entire cryptocurrency market in a 24-hour period. Since bitcoin's all-time high of nearly $65,000 in mid-April, its price has plunged over 50%.

Regulators around the world are also looking more closely at the crypto space.

Binance, the world's largest cryptocurrency exchange, last month was barred by U.K. authorities from carrying out any regulated activities in the country. Regulators in Japan, Canada and Thailand have also issued warnings about Binance.

"In general we're seeing more regulatory focus on crypto and bitcoin," said Vijay Ayyar, head of business development at cryptocurrency exchange Luno.

Bitcoin's fall below $30,000 could be important, according to Ayyar, who said the sell-off could go lower to test the $22,000 to $24,000 level.

From then on, bitcoin could trade in a range.

"I would see bitcoin between 20-40K ($20,000 to $40,000) for a while now before any bullishness returns," Ayyar said.

Kinetic Capital's Chu also sees potential selling ahead.

"Q1's crypto market momentum has stalled and is threatening further reversal potentially below the $25K levels," Chu said.

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Update On Planning For Bitcoin And Other Cryptocurrency – Forbes

Posted: at 12:30 am

So, who will be watching you?

A virtual currency guidance and advisory issued by the U.S. Treasury Departments anti-money laundering (AML) unit on June 30, 2021 clarified regulatory expectations, riled some cryptocurrency players and signaled a potential new global standard for combating financial crime.

The statement added that the guidance does not establish any new regulatory expectations and consolidates current FinCEN regulations, guidance and administrative rulings. FinCEN has broad international reach to any business doing substantive business with U.S. persons and therefore international businesses need to be paying attention if they source cryptocurrency from U.S. exchanges or interact with U.S. consumers.

Any time FinCEN issues an advisory, compliance officers in both banks and virtual currency companies will spend a fair amount of time over the next few days reviewing the advisory in the context of their businesses and customers.Concerns include another round of bank account closures, not because customers are engaging in illegal activity, but because compliance officers and managers lack an understanding of the technology underlying cryptocurrencies as the easy way out rather than invest the time and effort to learn more about the space.

Although owners of blockchain based investments most commonly hold cryptocurrency, blockchain technology is expanding into non-currency areas.In both, however, there are risks mainly because 1) estate planners and family members are ill-informed about the presence and nature of blockchain assets, 2) clients fail to realize that wills and trusts must have specific language to allow Personal Representatives and Trustees to manage those assets after incapacity or death, and 3) the regulatory environment, taxation, reporting, application if intestacy laws and other issues have yet to be resolved.

Traditional planning entities also have a hard time owning cryptocurrency, especially if there is a fiduciary duty owed to beneficiaries to prudently invest assets. Without specific language, a trust or other entity will not be able to hold cryptocurrency, but if that language is written too broadly, the fiduciary may be exempt from damages due to willful neglect. Also, cryptocurrency is treated as property rather than as currency by tax authorities for tax purposes meaning that the fair market value is set by conversion into the taxing authoritys currently, that is U.S. dollars for the IRS, at a reasonable exchange rate and transactions involving cryptocurrency are subject to the capital gains tax regulations. This can result in the cryptocurrency being taxed at one value in one country and another value in another country.

On top of all this, care needs to be taken to preserve the benefits of cryptocurrency. Cryptocurrency is highly secure, but that security is in jeopardy if the private key or seed phrase is carelessly recorded.With the right private key or seed phrase, anyone can access the cryptocurrency, so planning and procedures have to include how to secure this information. Like cash, cryptocurrency is not traceable. There is no electronic or paper trail linking the parties together in a transaction involving cryptocurrency.To preserve that privacy, you will need to plan that other documentation in the transaction does not reveal these identities, or at least that information is privileged. Shorter transfer delay and lower costs.Unlike hard currency, transferring cryptocurrency takes only moments and there are few, if any, transfer costs.

So, what to do? First, educate your estate planner and family about any blockchain based assets, especially cryptocurrency, you own. If the value of those assets exceeds $10,000, and the assets are in custody with a fiduciary or institution that is offshore Make sure that you are also reporting that investment annually and that the custodian that holds the assets has the capacity to invest the time and effort required to comply with the myriad changes as they occur.

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Cryptocurrency Prices Today on July 20: Bitcoin, Ethereum in red, Polkadot plunges over 9% – Moneycontrol.com

Posted: at 12:30 am

Cryptocurrency Prices on July 20: Bitcoin's price is currently $31,413.42 and its dominance is currently 46.79 percent, an increase of 0.63 percent over the day

July 20, 2021 / 07:45 AM IST

Cryptocurrency prices continued to be in the red on July 20. The global cryptocurrency market capwas $1.23 trillion, a 4.34 percent decrease over thepreviousday, while the total crypto market volume over the last 24 hourswas $57.25 billion, which makes a 16.38 percent increase.

The volume of all stable coins was $47.23 billion 82.49 percent of the total crypto market 24-hour volume. Bitcoin's price was $31,413.42 and its dominance is currently 46.79 percent, an increase of 0.63 percent over the day.

Days after Ethereum co-founder Jackson Palmer slammed the cryptocurrency industry in a series of tweets, another crypto entrepreneur and co-founder of Ethereum Anthony Di lorio has said that he is quitting the industry. The reason? Partially due topersonal safety concernsamong other things, Bloomberg reported.

The 48-year-old Canadian has had a security team since 2017. Di lorio said the crypto industry has a risk profile I am not too enthused about, adding: I dont feel necessarily safe in this space. If I was focused on larger problems, I think Id be safer.

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Dogecoin Witnesses Another Cryptocurrency Hype, Thanks to Musk – Analytics Insight

Posted: at 12:30 am

Love him or hate him, Elon Musks grip on the cryptocurrency market makes an impact. The Tesla and SpaceX leader changed his display picture on Twitter which made Dogecoin jump by 10%. Whats the hullabaloo about? Elon Musks new photo is his headshot with Doge, Dogecoins symbolic Shiba Inu, reflected on his sunglasses. Seems like an average fanboy photoshop, right?

Dogecoins co-founder, Jackson Palmer, recently returned to Twitter and showed his dissatisfaction with the current cryptocurrency market. In his tweet, he explained how cryptocurrencies have enabled free for all capitalism. The day after this tweet, Elon Musk started a conversation about his son holding the Doge like a champ, indicating his favoritism for the cryptocurrency.

When an influential person comments against a cryptocurrency, the market experiences a dip. But despite the comments on cryptocurrencies (which includes Dogecoin), Jackson Palmer could make an impact on the crypto world, which Elons image spoke a thousand words and caused the value of a Dogecoin to rally by 10%.

Wouldnt you be happy if an external factor was making the price of your cryptocurrency go up? Well, Dogecoins other co-founder, Billy Markus was not pleased. His tweet highlighted Billys apprehensions about Dogecoins value as Musk-hyped Dogecoins all-time-high faded away in a short period of time. In May 2021, Dogecoin grew by more than 15,000%, from US$0.004 to US$0.70. Soon, the hype died down and Dogecoin lost almost 70% of its value.

When Dogecoin was created, its intention was to be a joke. But thanks to Elon Musk, Dogecoins value shot up. He called himself the Dogefather and thus began the tale of Elons influence. The billionaire CEO did receive heavy criticism from market experts for creating volatility with his comments and people went to the extent of creating a token to spread this message called StopElon.

One can say that Elon Musk is just trying to be humorous with his antics, but the fact that he has the power to move markets seems unfair to many investors. After all, can you imagine your investments being controlled by one whacky billionaire? On a grander scheme of things, the cryptocurrency market gets both good and bad out of it.

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JPMorgan Says a Lot of Clients See Cryptocurrency as Asset Class and Want to Invest Featured Bitcoin News – Bitcoin News

Posted: at 12:30 am

JPMorgan says a lot of its asset and wealth management clients think cryptocurrency is an asset class and they want to invest in it. Our job is to help them to put their money where they want to invest, said the CEO of J.P. Morgan Asset & Wealth Management.

Mary Callahan Erdoes, J.P. Morgan Asset & Wealth Managements CEO, talked about her firms approach to cryptocurrencies in an interview with Bloomberg Wealth, published Tuesday.

JPMorgan Chases asset and wealth management line of business is one of the worlds largest investment managers and private banks, with $3.4 trillion in client assets.

Erdoes, who joined the firm 20 years ago, was asked what she would do if a client came to JPMorgan and said that they wanted to invest in cryptocurrency. Specifically, she was asked: Do you say you shouldnt do it? do you facilitate it? or are you still evolving your position?

The chief executive replied by first commenting about blockchain technology. Blockchain technology its very real and its changing all of the ways that we digitally interact in the different financial markets, she opined.

The J.P. Morgan Asset & Wealth Management CEO proceeded to talk about cryptocurrencies. Digital currencies are new, and in general digital currencies are being debated as to whether they are an asset class or not, she described, elaborating:

A lot of our clients say thats an asset class and I want to invest. Our job is to help them to put their money where they want to invest.

Its a very personal thing, Erdoes continued. We dont have bitcoin as an asset class per se, and time will tell whether it has a store of value. But the volatility that you see in it today, it just has to play itself out over time.

Her comments echoed what JPMorgan CEO Jamie Dimon said in May when he personally advised people to stay away from cryptocurrency. However, he noted, That does not mean the clients dont want it I dont tell people how to spend their money, regardless of how I might personally feel about something.

While JP Morgan may not currently see cryptocurrency or bitcoin as an asset class, rival investment bank Goldman Sachs said in May that bitcoin has become an investable asset. The firm explained, Clients and beyond are largely treating it as a new asset class, which is notable its not often that we get to witness the emergence of a new asset class.

The CEO of Blackrock, the worlds largest asset manager, said in April: I am fascinated by it [cryptocurrency] as an asset class I do believe this could become a great asset class.

What do you think about the comments by the JPMorgan executive? Let us know in the comments section below.

Image Credits: Shutterstock, Pixabay, Wiki Commons

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I’ve just started investing in cryptocurrency. Here’s what I’ve learned – ABC News

Posted: at 12:30 am

Cryptocurrency has never appealed to me.

When the crypto-bro making me my coffee enthuses about how he has turned $100 into $10,000 with his smart trades my response is a resounding"meh".

As a woman in my early 40s I'm pretty much as far from the typical crypto-enthusiast demographic as you can get, and franklymy to-do list already feels pretty full without adding 'learn about emerging financial technology that may take over the world' to it.

I'm naturally sceptical, so anything that is touted as the next big thing, or instant way to multi-millions, tends to result in a highly-raised eyebrow.

And in much the same way as I don't bet on the Melbourne Cup because I hate throwing money at things which I don't know enough about, putting money into crypto has always felt more like gambling to me than investing.

But interest and the number of people investing in cryptocurrency has grown exponentially over the last year. The ATO says around 600,000 Australians have invested in cryptocurrencies in recent years (though other estimates are much higher).

According to a June survey by market comparison site Finder (whose founders also run a crypto exchange) a third of Gen Zs now own digital currencies, twice as many as in January.

Cryptocurrency is clearly here for the long term, and as I frequently report on it in my job as ABC News Breakfast finance presenter, I need to learn about it. And the best way I know to do that is to put some skin in the game.

I'm going to spend $100 of my hard-earned cash on a three-month experiment with cryptocurrency, and see where I end up.

I don't know if Bitcoin is going to rule the world, and I don't want to bet that people will be willing to pay more for bitcoins in future than they do today.

First problem: I have no idea how to start.

According to that same survey by Finder, that was the biggest impediment for 22 per centof people who were interested in investing in crypto.

I don't want to go to one of the YouTube get-rich-quick 'experts'(of whomthere are about a million, many of which are sponsored by smaller or alt-coins) so instead I turn to Professor Ellie Rennie of RMIT in Melbourne. She's a crypto researcher at their Blockchain Innovation Hub, and as an early investorhas lots of experience.

I like her first piece of advice: "It's very easy to lose a whole bunch of money."

"Never, ever spend more than you can afford to lose."

Supplied: Professor Ellie Rennie.

Ms Rennie helps me to take the first step:setting up an account on a trading platform. She uses an Australian-based one, but there are literally hundreds to choose from.

You can go to a comparison site and see which one suits you best they all offer different fees for trades, different cryptocurrencies, and different options for ways to put in your own money, like POLi, PayID and bank transfer.

I have to enter personal details and my driver's license for ID, and that's followed up with a call a day later from the trading platform to verify my identity before they will set up my account, which makes me feel secure.

The brother of a man scammed out of more than $400,000 has issued a warning to people to be more aware of bogus bitcoin traders.

Ms Rennie recommends setting up a digital wallet for when you are trading bigger chunks of money as one of the big risks with cryptocurrency is someone hacking into your trading platform and stealing your coin.

"Security is the most important thing when it comes to cryptocurrency. You don't want to keep your cryptocurrency on an exchange," she says.

Digital wallets are secure places you can put your cryptocurrency into, much like you would put cash into a physical wallet.

That said, Ms Rennie and I agree that because I'm only trading small amounts I don't need to bother with this yet, but as soon as you get amounts you'd be sad to lose, this is a critical step.

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Bitcoin is obviously the biggest and best known coin, and there are literally thousands of others, but they come with a warning.

"They all have different levels of security, and we also don't know how long they will stick around," Ms Rennie says.

"You need to be a bit cautious, particularly when you are going into things that look cheap on these platforms. They may disappear."

In the end we settle on the second biggest coin, Ethereum, for the stability of its platform. I also like the idea of it because it is in the process of changing how it operates: it will soon cut down its energy use by 99.5 per cent, according to a blog post from the project.

Bitcoin famously has a carbon footprint the equivalent of Portugal, so the idea of not contributing to that appeals.

Ethereum is trading at $2,804.15, so I after I transfer my $100 to the trading platform, for a small fee, I am now the proud owner of about 1/28th of an ether (the coin of the Ethereum blockchain).

Is rent money really "dead money"? And do you really need to give up your daily coffee to get ahead?

That was a month ago, and I would love to tell you that since then I have learned all about cryptocurrency and made a pretty penny in the process.

That is not what has happened.

Since then I have been on leave with my family, had a couple of big stories, bought a dog and done nothing with my coin. And Ethereum has dropped to $2,578.67.

Turns out just buying crypto isn't enough to really be invested in it, if you know what I mean.

So my new resolution is to spend at least an hour a week learning about it, and to actively manage my investment more.

Ms Rennie emphasises that research is key to a successful experience with digital coin.

She recommends newsletters from Messai, EthHub and Spencer Noon, and websites Coindesk, The Defiant and Decrypt.

There are also many crypto podcasts. Ellie's favourites are Laura Shin's Unchained and Bankless.

These are just her choices, and as with any financial decision, you should do your own research and always consider your own circumstances before making any investment.

To be honest, it feels a bit overwhelming, but also necessaryif I'm serious about understandingcrypto currency.

This article contains general information only. You should consider obtaining independent professional advice in relation to your particular circumstances.

Madeleine Morris is ABC News Breakfast's finance presenter.

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