A network of 1,100 people accused of laundering money by purchasing cryptocurrencies have been arrested in China. According to the Chinese Ministry of Public Security, the launderers were charging their clients a commission rate to convert proceeds obtained through illegal activities to cryptocurrency via crypto exchanges without disclosing the amount of money involved.
The Salvadoran president, Nayib Bukele, has recently announced the country’s plans for introducing Bitcoin as legal tender in the country. Should congress back this proposal, El Salvador will become the first country in the world to officially adopt the cryptocurrency, which will be used alongside the country’s official currency, the U.S. dollar.
The California-based cybersecurity company NortonLifeLock, has announced last week that it will be adding a cryptocurrency mining function to its already existing Norton 360 antivirus software. Norton Crypto, as it has been named, will be an additional feature added to Norton 360 Antivirus, and will allow its users to mine cryptocurrencies while their computers are idle.
The world-leading crypto gaming platform, Sportsbet.io, is giving away a Lamborghini Huracan EVO Convertible to the value of 6.86 BTC to one lucky delegate attending the Bitcoin 2021 Conference in Miami. Who will win this incredible supercar? We’ll find out at the After Party.
China is yet again making news by tightening crypto regulations and introducing a new ban that prohibits financial institutions and payment companies from providing any crypto-related services. This ban will forbid banks and online payment companies from providing any services related to cryptocurrencies such as registration, trading, clearing, and settlement of digital currencies according to a joint statement released earlier this month by three financial industry associations in China. These three industry bodies are the National Internet Finance Association of China, the China Banking Association and the Payment and Clearing Association of China.
A meeting between Elon Musk, a few top Bitcoin miners, and CEO of Microstrategy Michael Saylor took place over the weekend in hopes of forming a Bitcoin Mining Council. The meeting had focused on forming an organization to initiate reporting standards and ESG goals on Bitcoin mining to promote sustainability. The forming of a Bitcoin Mining Council would “standardize energy reporting, pursue industry ESG goals, and educate and grow the marketplace” according to Saylor.
The online social networking platform Facebook has announced its plans for launching its new Diem digital currency project in early 2021, which will eventually be launched in two sets consisting of a multi-currency coin and the other in the form of stablecoins pegged to the U.S. Dollar and the Euro. The Diem digital currency is intended to revolutionize the fintech space and allow money transfers to be performed as easily and as seamlessly as sharing photos and other media on the web. It has also been said that the transfer fee for Diem will be very cheap, which will surely attract a great number of new users and see the currency experiencing high trade volumes.
It’s been a very exciting and action-packed year for cryptos. Skyrocketing prices and news headlines have drawn major attention as the crypto industry finds its place in the world. Just over a month ago, the total crypto market cap exceeded $2 trillion, which goes to show just how much growth has been taking place within […]
South Korean Authorities are known for not pulling any punches and this time it has decided to crack down hard on a domestic crypto exchange, allegedly trying to pull off a scam, robbing investors of nearly $214 million. Oppan Gangnam Style South Korea has a strict policy regulating multi-level-marketing projects so with a fresh court […]
CEO Jamie Dimon confirms his stand on cryptocurrency but the bank itself is making moves. At the same time, Mastercard reveals high crypto-interest among clients. After sharing his strong opinion on Bitcoin being a fraud back in 2017, JPMorgan CEO Jamie Dimon expects to receive even more of a backlash after his latest controversial statement, […]
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