Speakers at Congressional Hearing Warn of Crypto Use in Foreign Political Meddling

Witnesses in the U.S. Congress voiced their concerns about the potential for using cryptocurrencies to make illegal campaign donations during a hearing of the Subcommittee on Crime and Terrorism held today, June 26. The hearing, titled “Protecting Our Elections: Examining Shell Companies and Virtual  Currencies as    Avenues for Foreign Interference,” was led by Senator Lindsey Graham with Scott Dueweke of DarkTower, David Murray of the Financial Integrity Network, and Sheila Krumholz of the Center for Responsive Politics as witnesses. Dueweke, who is also a director at The Identity and Payments…

Florida to Create Position of Crypto Chief to Oversee Industry

Florida Chief Financial Officer (CFO) Jimmy Patronis has released plans to create a new position of cryptocurrency chief to oversee the industry in the state, according to an announcement published June 26. Patronis, who also serves as State Fire Marshal and supervises the Department of Financial Services, ordered his office to create a position that will manage the application of current insurance and securities laws to initial coin offerings (ICOs) and digital currencies. The designee will also develop a regulatory framework within the state. According to the announcement, the new…

Adoption of New Technologies Requires More Education

Blockchain technology is predicted to have a great future in Switzerland. What does this mean for the labor market, what does the Swiss government think about this technology and what does blockchain need in order to be adopted by the people? Cointelegraph discussed these questions with expert Dr. Daniel Diemers at BlockShow in Berlin. Daniel Diemers worked as an entrepreneur for several years in the field of internet-based early warning systems. He has been a partner at PwC Strategy& since 2005, where he advises banks and regulators in Europe and…

Facebook Reverses Cryptocurrency Ad Ban

Facebook Reverses cryptocurrency ad ban: Facebook banned crypto advertising on its platform back in January of this year. This was a blanket ban on all ads crypto-related necessary to protect its users from illegitimate promoters. It caused controversy. In the ever-swaying battle for and against cryptocurrencies, it seemed that all the major social media platforms had gotten together like twittering school girls to leave cryptocurrencies out in the cold. Google, Facebook, Twitter, Instagram, and Bing, had all banned advertising of any sort of cryptocurrency. If Facebook is starting to ease on…

Blockchain Music Streaming Service To Increase the Amount Musicians Earn for Their Work

A new blockchain-powered platform, combining streaming services and digital payments, aims to pay musicians 80 percent of the streaming revenue from their tracks, such as subscription services and advertising revenue — more than is reported to be standard practice. Choon, a recently launched blockchain-based platform, describes itself as “the blockchain’s music solution.” In essence, every time a track is played, the artist earns cryptocurrency. This could, in turn, eliminate another major problem that Choon has highlighted with regular artist royalty systems: as payment is daily, there will no longer be…

Bitcoin Is “Epidemic of Enthusiasm” Says Nobel Prize Winner Robert Shiller

Beyond economics, Bitcoin (BTC) is a “social movement” that runs along “generational and geographic” lines, Nobel economics prize winner Robert Shiller told Bloomberg Tuesday, June 26. Shiller, who currently serves as Sterling Professor of Economics at Yale, said that the clear demographics of Bitcoin suggest its popularity is not reducible to “a rational response to new information”: “The East Coast is less into it than the West Coast. Silicon Valley is really into it… It’s a social movement. It’s an epidemic of enthusiasm. It is a speculative bubble. That doesn’t…

Swiss NGO to Accept Crypto Donations for Food, Healthcare, Education for African Children

Crypto software development program KryptoPal will work with Swiss NGO help2kids to provide software for accepting cryptocurrency donations, according to a press release shared with Cointelegraph Tuesday, June 26. Help2kids provides food, healthcare, and education to children in both Malawi and Tanzania, with 750 kids in the help2kids network in Tanzanian capital Dar es Salaam. KryptoPal will set up a public key and go through Know Your Customer KYC guidelines and background checks for each help2kids project. The year-long pilot program for crypto donations with help2kids will allow all funds…

Facebook Reverses Ban on Cryptocurrency Ads, Maintains Ban on ICOs

Facebook has updated its policy to allow cryptocurrencies to once again be advertised, while upholding its ban on the promotion of initial coin offerings (ICOs), in an announcement published Tuesday, June 26. Today’s announcement says the company has been looking into the best way of “refining” its blanket ban on cryptocurrency-related advertising “over the last few months,” in order to “allow some ads while also working to ensure that they’re safe.”   Facebook’s revised “prohibited products and services policy” now states: “Starting June 26, we’ll […] allow ads that promote…

People’s Bank of China Files Patent for Digital Currency Wallet

The Digital Currency Research Lab at the People’s Bank of China (PBoC) has filed a new patent this week for a digital wallet that would allow users to track their transaction histories. The patent application was submitted with China’s State Intellectual Property Office (SIPO) Friday, June 22. The new patent outlines how the proposed digital wallet could be used to track transaction data in coordination with a centralized digital currency issuance registration agency. The wallet would enable multi-signature security and manage digital assets that are encrypted – as existing cryptocurrencies…

Robinhood Crypto | Is a Crypto Wallet on the Verge of Being Made?

Robinhood Crypto: Rumors are circulating the crypto industry this Tuesday morning. Normally, we see rumors of exchanges adding certain cryptocurrencies – but today, things are a little different. Robinhood Crypto: Looking for Crypto Engineers – Why? The week has only just kicked off, and yet, we’re already seeing speculation regarding the future of Robinhood, a stock and crypto trading app. On June 26th, Robinhood posted a job advertisement. Specifically, Robinhood announced that it is actively seeking multi-skilled crypto engineers. But why? The advertisement makes a reference to the creation of a…