Belgian Gov’t Launches Website to Warn Public About Crypto Scams, Risks

Belgian authorities have launched a website to raise awareness of the risks associated with investments in crypto, the FPS Economy (FPS) announced in a public statement June 5. The FPS noted the sharp spike in interest towards crypto investments, which they said “causes a lot more people to be scammed.” According to the statement, Belgian investors reported the loss of €2.2 mln ($2.5 mln) in crypto scams to the FPS last year. The FPS said that this is “just the tip of the iceberg” as only 4 percent of crypto…

Pro-Blockchain Starbucks Chair Rumored to Be Mulling Presidential Run

Get exclusive analysis and cryptocurrency insights on Hacked.com for just $39 per month. Howard Schultz, the anti-bitcoin, pro-digital currency executive chairman of Starbucks, recently confirmed his intention to leave his role at Starbucks and is said to be considering getting into politics, according to CNBC. Schultz has denied in the past that he is planning to run for president, but he has been active over the years in supporting political causes. Schultz, a political progressive, said that he is concerned about increasing divisions in the United States and the country’s…

South Africa’s Central Bank Pilots Tokenized Fiat Interbank Payment System

South Africa’s Central Bank (SARB) has successfully piloted a Proof-of-Concept (PoC) for an interbank payment system that tokenizes fiat using Quorum, according to an SARB press release published June 5th. Quorum is an Ethereum-based private blockchain. According to SARB’s report on the pilot, dubbed ‘Project Khokha,’ all of the bank’s goals were successfully achieved, the primary aim being “to build a proof of-concept (PoC) wholesale payment system for interbank settlement using a tokenized South African rand on distributed ledger technology (DLT).” The project further aimed to investigate the “interconnected” issues…

Central Bank Execs Conclude Crypto Is No Threat to Fiat, Yet

Representatives from multiple central banks discussed whether or not cryptocurrency could spell the end of fiat currencies during the Money20/20 conference in Amsterdam today, June 5. During a panel talk titled “Cryptocurrency, the Central (Bank) Question”, representatives from the Swiss National Bank, the Bank of Lithuania, the Bank of England, and the Bank of Canada took turns responding to the question “Can cryptocurrencies spell the end of fiat currencies?”. Bank of Canada executive James Chapman stated that cryptocurrencies are only a threat to fiat currencies in a “situation of hyperinflation”.…

Microsoft Bought GitHub | Will it Hurt Monero (XMR)?

Microsoft Bought GitHub: Even from a company as technologically advanced as Microsoft, the announcement that it acquired GitHub on the morning of June 4th took a lot of people by surprise. In the past, Bill Gates, founder of Microsoft, has critiqued the crypto sector, which is why many are skeptical of this purchase. It’s not that Microsoft is a bad company, it’s that many are worried about the effect this acquisition will have. Specifically, on virtual currencies like Monero (XMR).  In this article, you will see where this fear originated from.  Microsoft…

World’s Largest Crypto Exchange Binance Invests in Blockchain-Based Esports Platform

The world’s largest crypto exchange Binance has made an undisclosed investment into blockchain-based esports voting platform chiliZ, according to a press release published today, June 5. According to the announcement, the Malta-based platform in which Binance is investing is part of Mediarex Group, a global sports and entertainment company. Binance and chiliZ will reportedly “join forces” to provide the sports industry with a “fan-driven token ecosystem for traditional sports teams.” According to the press release, chiliZ has already raised $27 mln via an ongoing “private placement”, evidently a closed token…

Gov’t Telecoms Agency Seeks Feedback on Blockchain for Its International Agenda

A U.S. government telecoms agency reached out for feedback on blockchain policy June 4 as officials forecast “increasing focus” on the technology in the coming years. In an announcement, the National Telecommunications and Information Administration (NTIA), which is part of the U.S. Department of Commerce, said that it wanted stakeholders’ input in “shaping its international agenda.” Broadly pertaining to internet governance, that agenda is set to pay specific attention to “emerging technologies and trends” such as blockchain, as well as freedom of information online, privacy and security. “We expect that…

Vietnam’s Finance Ministry Proposes Temporary Ban on Crypto Mining Hardware Imports

Vietnam’s Ministry of Finance (MoF) has proposed a temporary blanket ban on crypto mining hardware imports, local news outlet VN Express reports today, June 5. The MoF reportedly raised the proposal on Monday, alleging that crypto mining hardware can be used to launch new digital currencies that are “very difficult to regulate.” VN Express cites recent figures from the Ministry showing that in the first four months of 2018 alone, over 6,300 cryptocurrency mining rigs have already been imported into the country. Compared with 2017’s total of 9,300 rigs, the…

Samsung Unveils Blockchain Platform to ‘Enhance Competitiveness’ of Finance Businesses

South Korean electronics giant Samsung is launching its own blockchain platform Nexfinance for finance-related businesses, the company announced in a press release June 4. Samsung SDS, the corporation’s IT arm, confirmed the platform would cater to digital finance businesses looking to transform their structures using cutting-edge technology. Yoo Hong-jun, Vice President of finance business at Samsung SDS commented: “Samsung SDS is planning to launch its digital finance business through Nexfinance, a digital financial platform that combines proven technology and new technology. It will be a companion to solve the troubles…