US

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,…

The current global economic trouble is shifting attention to blockchain technology. Before now, some governments have been considering and looking into how to deploy the technology in some sectors. Interestingly, the government of South Korea has noted that the blockchain market stands for a “golden opportunity” for the country. The government is admonishing private sector firms in the country to exploit this potential. On Apr. 17, Fn News released a report which noted that the Vice Minister of Strategy and Finance,…

New Zealand financial watchdog has cautioned the public over a suspect Bitcoin investment scheme. In its statement issued on April 6, the Financial Markets Authority(FMA) raised a red flag on the "Profit Bitcoin" project. The FMA labeled the venture a get-rich-quick scam. Allegedly, the scheme dupes the public that it offers software having a 99.4% success rate in winning Bitcoin trades. False Narrative According to the FMA, the project's website has telltale signs of a con job. To begin with,…

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 $173 billion. Bitcoin gains 10% in dollar value and trades safely above the $6,500 mark. Ethereum traded steadily between $135 and $140 XRP rises to $0.19 but drops by 3% on the weekend The Trump Administration announces a $2 trillion economic stimulus. The equity market also increases by 10% Covid-19 has now spread to…

As the markets continue to shift negatively, the US looks to Congress for agreement on a significant stimulus package to rescue the economy from impacts of the coronavirus pandemic. The Democrats in the US house want to create a ‘digital dollar’ and the establishment of ‘digital dollar wallets according to a proposed draft stimulus bill, which has been circulating ahead of formal publishing. The digital wallets would be maintained by the Federal Reserve Bank. The new proposals will facilitate payments…

For the years that cryptocurrencies have existed, most investors have gotten away with not reporting and filing their taxes on their crypto assets. This move was aided significantly because cryptos were still in their infancy, and no one knew how long they would last.  But times have changed. Today, more people globally are showing an interest in cryptos. As a result, Crypto mass adoption is the primary goal for most stakeholders in the industry. However, to achieve this, it is…

Coronavirus outbreak affected two major crypto conferences to happen in the United States. These two conferences are the ‘Bitcoin 2020’ and ‘The DC Blockchain Summit 2020’. The Blockchain 2020, initially scheduled for March 27 and 28 in San Francisco, will occur in the Q3 of 2020. The DC Blockchain Summit scheduled for next week will happen later after further communication. Further Details on the Two Crypto Conferences The Bitcoin 2020 organizers assured all attendees that their conference tickets are still…

One of the concerns of crypto critics is their ability to allow people to do what they like against government regulations. A General in Iran (Saeed Muhammad) has suggested the utilization of crypto to bypass U.S. and UN sanctions. Saeed Muhammad is the commander of the Islamic Revolutionary Guard Corps that is under the Armed Forces of Iran. The country has been encountering sanctions from the United States over a long period, thereby disallowing her from participating in international trade.…

Recently the US Congress scheduled a new sitting on hearing about digital currencies. This hearing will majorly focus on the local and global ways to approach digital currencies. This meeting will be taking place on March 24.  The host of the hearing will be the House committees that focus on Financial Services, with the specific subcommittee tasked for that being the subcommittee on National security, international development, and monetary policy.   This is not the first hearing of the kind; several…