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Posts Tagged ‘Money’

Japanese Bank Abandons Work With SBI Ripple’s ‘Money Tap’ App

Resona, one of the three Japanese banks working with SBI Holdings and Ripple on their cash transfer app Money Tap, is pulling out of the project. The bank – Japan’s fifth largest – announced the decision on Thursday, saying that it would cancel the remittance service provided through the app on May 13. It did not…

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WSJ’s ShapeShift Exposé Overstated Money Laundering by $6 Million, Analysis Says

When it comes to cryptocurrency transactions, questions about alleged money-laundering quickly get thorny. A Wall Street Journal investigation from last September, titled “How Dirty Money Disappears Into the Black Hole of Cryptocurrency,” claimed the crypto conversion platform ShapeShift had facilitated at least $9 million worth of money laundering over several years with “a parade of…

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GPU Miners May Soon Have Another Way to Make Money

GPU-based cryptocurrency miners have taken a beating throughout this bear market — just ask NVIDIA. However, users with spare GPUs may soon be able to put their ineffective mining hardware to another profitable use: renting rendering power to those looking to experience quality PC gaming on an underpowered computer.  As reported by TechCrunch, Vectordash is…

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New Zealand Terrorist Claims He Made Money From BitConnect

The perpetrator of the mass killings at New Zealand mosque appears to have funded his life with investments he made in defunct cryptocurrency BitConnect. Tarrant Used BitConnect Funds For ‘Travel’ As various media publications report citing a document which claims to be a manifesto by Brenton Tarrant, cryptocurrency investments allowed him to travel at an…

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Venezuelan Economist: Cryptocurrency Is ‘Good’ Money, Bolivars Are Not

The adoption of cryptocurrencies in Venezuela, first due to hyperinflation and later due to dollarization, could come to play a role in the country’s economic rebuilding. At least that’s according to Venezuela’s most outspoken economist on the subject of cryptocurrencies, professor Aaron Olmos, who dissected the reasons for his country’s current dependency on the US…

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Bitcoinist Analyst Puts His Money Where His Mouth Is… on Bitcoin’s Bottom

The bitcoin price has inspired numerous bets over the years, mainly along the lines of ‘X amount by this date.’ Now, Bitcoinist‘s very own technical analyst, fil₿fil₿, has joined the fun — with a bet on Bitcoin’s bottom.  It Started With A Diss The whole thing started when upcoming crypto-analyst @Sawcruhteez tweeted a pessimistic prediction.…

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Revolut CEO Refutes Claims of Negligence and Money Laundering Breach

The founder and CEO of United Kingdom-based digital banking app Revolut publicly denied allegations of a money laundering breach and negligence by the company in a blog post Mar. 1. The latest in a series of publicity disasters to afflict Revolut, as U.K. newspaper the Telegraph last week alleged that executives had deliberately decommissioned Anti-Money…

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Utah Bill Would Exempt Blockchain Firms from Money Transmitter Act

A lawmaker from the U.S. state of Utah has introduced a bill that would stop blockchain firms from being classed as money transmitters. Republican senator Daniel Hemmert filed senate bill 213 last week, proposing that any person who “facilitates the creation, exchange, or sale” of certain blockchain-related products should be exempted from the state’s Money…

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FATF Issues Preliminary Guidelines on Digital Assets to Combat Money Laundering

The Financial Action Task Force (FATF), an intergovernmental organization that develops policies against money laundering, has published preliminary guidelines for cryptocurrencies on its website on Thursday, Feb. 28. The FATF held a meeting on preliminary crypto requirements on Feb. 22. According to the organization, the new text of the Interpretive Note to Recommendation 15 —…

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