Blockchain Bites: Ghosn’s Crypto Payments, Russia’s Red Line and Why Banks Won’t Bite

Cryptographers call out Craig Wright’s latest claims, blockchain business deposits are growing at Signature and Carlos Ghosn’s smugglers were paid in crypto.

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Cryptic Payments
The son of former Renault and Nissan head and fugitive Carlos Ghosn used Coinbase to pay two men $500,000 in bitcoin to get his father out of Japan last December. U.S. prosecutors said Wednesday that Anthony Ghosn sent 63 bitcoin to Michael and Peter Taylor, a father and son team who smuggled Carlos Ghosn out. Coinbase gave evidence to Japanese investigators this week, showing a series of transactions between January and May 2020 from Ghosn’s Coinbase account to one belonging to Peter Taylor. Wednesday’s filing shows a bank account managed by Peter Taylor also received two wire transfers, totaling over $870,000, from Carlos Ghosn’s account in October 2019.

Work to Do
The Office of the Comptroller of the Currency (OCC) said banks can provide custody services for cryptocurrencies. The move is widely praised as a step towards mainstreaming crypto. However, it’s unclear whether banks will immediately act on the regulatory clarification. Congressman Darren Soto (D-Fla.), said the letter was “an important step” to better integrate cryptocurrencies into the U.S. financial system, but cautioned “the federal government is still behind in incorporating” cryptocurrency. “I don’t expect you will see much change in the next three to four months, but then we might see some acceleration thereafter,” Trustology CEO Alex Batlin said. “This will come up as banks will be holding investment committees for funding approvals for the next year.”

Assessment of the Facts 
Four experts agree that Craig S. Wright’s latest claims about Bitcoin message-signing are…

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