Bitcoin Daily: US Attorney General Unveils Crypto Enforcement Blueprint; Canadian Businesses Damaged By Attempted Bitcoin ATM Theft

Bitcoin Daily: US Attorney General Unveils Crypto Enforcement Blueprint

Attorney General William P. Barr unveiled the publication of “Cryptocurrency: An Enforcement Framework,” which his Cyber-Digital Task Force created, according to a Thursday (Oct. 8) press release.

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    The blueprint offers a detailed outline of burgeoning threats and enforcement difficulties connected with the higher presence and utilization of digital currency, the pivotal relationships the Department of Justice (DOJ) has developed with others and the DOJ’s response tactics.

    “Cryptocurrency is a technology that could fundamentally transform how human beings interact, and how we organize society,” Barr said in the release. “Ensuring that use of this technology is safe and does not imperil our public safety or our national security is vitally important to America and its allies.”

    The framework is the second in-depth report released by the Attorney General’s Cyber-Digital Task Force, which was formed in 2018. A prior task force report canvassed a broad array of cyber threats.

    In other news, the Royal Canadian Mounted Police (RCMP) are on the hunt for two suspects following what they said seems to be a botched bitcoin automated teller machine (ATM) theft, according to a Thursday (Oct. 8) press release.

    “A preliminary assessment conducted by staff on site, suggests that despite the thousands of dollars in damage caused, nothing appears to be taken from inside the business as the suspects were unsuccessful in taking the Bitcoin ATM,” a police spokesperson said in the release.

    The RCMP received word of a break and enter occurring in the early morning hours of Wednesday (Oct. 7), the release stated. Police were notified that a vehicle had damaged the outside of different businesses in a complex and that two individuals were trying to take an ATM.

    The RCMP said in the release that it thinks the vehicle was used multiple times to impact the outside of the structure, and two suspects used the vehicle to get away from the area.


    Millennials Swap Salaries for Stream of Instant Payouts

    Payouts Go Instant as Digital Wallets, Debit Cards Lead

    Consumers demand speed and flexibility from their financial transactions. They’re moving away from traditional bank transfers toward more immediate and accessible options.

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      In the PYMNTS Intelligence report “Instant Payouts: The New Paycheck for a Real-Time Economy,” a collaboration with Ingo Payments, responses from more than 4,000 individuals indicated that digital wallets and debit cards are becoming the new direct deposits.

      Overall, 72% of consumers received at least one instant payment in the last year. Drilling down a bit, 41% of recipients now cite an instant payment method as their most-used way to get paid. This is nearly double the 21% share recorded in 2020 and indicates a growing reliance on instant payments among a large user base, rather than just a wider adoption rate.

      The Changing Expectations

      For many, the expectation is no longer to wait days for a bank transfer to process, especially for loan disbursements or payments from marketplaces and platforms to gig workers, freelancers and content creators. Individuals increasingly want — and often need — to be paid immediately.

      The shift is impacting how different income groups receive their money.

      The data hints at the rise of the “new paycheck” economy. More than 1 in 5 disbursement recipients rely on these payouts as their primary source of income, while another 41% consider them important supplemental income. For one-third of millennials, income from gig work and tips is essential, effectively replacing traditional regular paychecks.

      Diverse Income Streams

      Consumers are earning income in diverse ways, from selling goods online to driving for rideshares or receiving insurance payouts and personal loans. Regardless of the source, there’s an expectation and often a genuine need to receive this money instantly. For freelancers and side hustlers without predictable pay cycles, waiting for payments can mean falling behind.

      This reliance on instant payments is especially pronounced across generations. Generation Z is making instant payments the default method. For a generation that often lacks fixed paychecks and has little patience for time lags, the reliance on instant payments has become table stakes.

      For consumers who rely on these ad hoc payments for their core income — the core cashflow group — instant payments to digital wallets are the most popular method, at 20%. This is followed by real-time bank account deposits at 16%, and push-to-debit or push-to-credit cards at 11% and 4.4%, respectively.

      The report found that 30% of core cashflow recipients received payments through push-to-debit and digital wallets combined.

      Willing to Pay

      Core cashflow recipients are 74% more likely to receive payments instantly and demonstrate a higher willingness to pay for instant services. Six in 10 consumers who depend on regular disbursements as a primary income source would pay to get their money instantly, which is four times the rate of those receiving occasional payouts. This illustrates that the more urgent the need, the more valuable the speed.