Covid-19

The US Consumer Financial Protection Bureau (CFPB) was formed in 2011 after the Dodd-Frank Wall Street Reform and Consumer Protection Act was passed. Its function is to protect consumers from deceptive market practices. It released a report regarding remittance transfers under the Electronic Fund Transfer Act. The government agency noted in the report that it has been monitoring the nascent developments in the remittance market, which includes the growth of cryptocurrency asset firms such as Ripple. The report shows that…

COVID-19 pandemic has brought economic difficulties to the world and the poorest individuals are most hit. This is why organizations, firms and individuals are reaching out to those who need help. Companies offering services related to cryptocurrency and some individuals in the cryptocurrency space have been trying their best to help those in need. For example, cryptocurrency companies like Binance, BitMEX and the Stellar Foundation have launched such initiatives. Cryptocurrency exchange based in Mexico, Bitso, has collaborated with the crowdfunding platform Donadora towards the launch of…

Due to the rising number of reports on investment scams related to digital currency focusing Pacific communities, the Financial Markets Authority (FMA) and Commerce Commission in New Zealand have launched an awareness campaign. “We saw the OneCoin pyramid scheme proliferate through Pacific social and community groups. Last year the FMA also reiterated its warning that Skyway Group (or SWIG) may be involved in a scam and was targeting Pacific groups. Investment scams fall under the remit of the FMA, while…

A bill to fight coronavirus has been introduced by the United States Congressman Stephen Lynch of Massachusetts. It is towards the establishment of a blockchain network that is able to oversee the distribution of personal protection equipment (PPE), ventilators as well as other essential medical equipment during the ongoing pandemic. The National Emergency Biodefense Network was established for the regulation of the supply of drugs, vaccines, medical devices, as well as other supplies. The bill called the “Strategic National Stockpile [SNS] Enhancement and…

Get the weekly summary of cryptocurrency market trends, news, and forecasts! This Week’s Summary The Crypto Market ends the week at a total market capitalization of $254.6 billion. Bitcoin ends the week trading past $9,000 Ethereum increases by 13% to trade well over $200 XRP price breaks beyond the 0.20 barrier after a 12.5% boost COVID-19 is still out there, but governments are looking into easing restrictions in May Crypto Trends 27th of April - 03rd of May 2020: PERFORMANCE…

On April 29, Block.one (the firm in charge of EOS cryptocurrency) issued a $50,000 grant towards the facilitation of anonymous access to coronavirus testing. The company issued the grant to Genobank for its open-source app. The firm issued the grant in collaboration with EOS VC (Block.one’s venture arm), and FinLab EOS VC. A few weeks ago, Genobank noted the development of its app known as Agerona together with the Eos-based blockchain platform, Telos. Agerona helps with anonymous connection of users with test…

Get the weekly summary of cryptocurrency market trends, news, and forecasts! This Week’s Summary The Crypto Market ends the week at a total market capitalization of $219,3 billion. Bitcoin almost recovers to trade at its pre-pandemic value of $7,800 Ethereum sees a 10% increase in price compared to last week. XRP price increases by 3% and gets closer to the $0.20 resistance level Crude oil price goes to an unprecedented negative value. China’s digital Yuan attracts the interest of McDonald’s,…

On April 24, the office of the U.S. Attorney for Columbia District was authorized to seize coronaprevention.org.  The Department was directed to detect, investigate, and prosecute the illicit conduct of the website’s owner which is related to the COVID-19 pandemic. The seizure of coronaprevention.org website was due to the alleged attempt by its owner to sell the domain for Bitcoin. According to the United States authorities, the unidentified owner of the website attempted to sell the domain to an undercover…

Scammers continue to leverage the current pandemic to perpetrate their malicious activities. It is such that the national internet authority shut down more than 2,000 online scams associated with COVID-19 last month. A deeply shocking 471 fake e-commerce stores selling fake Coronavirus materials were shut down. They have also taken down numerous phishing scams and advance-fee frauds. Due to the rising scams, the United Kingdom’s National Cyber Security Centre (NCSC) is still raising awareness and warning citizens regarding the risks. According to the U.K. Minister for Security,…