Federal Reserve President Neel Kashkari On Crypto

Minneapolis Federal Reserve President Neel Kashkari has loudly discarded the cryptocurrency market’s potential to survive long-term, saying it has become a “farce” due to unregulated chaos and escalating fraud.   Cryptocurrency market has been in the state of freefall over the last two weeks potentially die to experts bashing the markets.  Bitcoin price (BTC) plunged below the $8,000 level today while altcoins have also lost the gains they generated earlier this month. The Minneapolis Federal Reserve President, however, expects the market crash to intensify in the days to come. Source Image: coinmarketcap.com…

Spanish Central Bank Governor Believes Crypto Brings More Risk Than Benefit

The governor of the Bank of Spain has come out in favor of the possibilities of blockchain, but against the risks of cryptocurrencies, local news outlet Europe Press Financial reports Wednesday, May 23. Luis María Linde referred to blockchain as a technology that “offers interesting possibilities,” but is yet “not quite mature” in a speech at a meeting of leaders of the financial sector organized by Deloitte and two Spanish organizations. Linde notes that the current global move to a digital economy requires regulators to encourage innovation without bringing the…

UK Mosque Opens Crypto Donations in National First ‘Bitcoin Ramadan’

A UK mosque has broken with opinion and opted to accept cryptocurrency donations for this year’s Ramadan period, local media report this week. The Shacklewell Lane Mosque in Dalston, East London, also known as Masjid Ramadan, partnered with local Blockchain startup Combo Innovation to set up a Bitcoin and Ethereum wallet for the Ramadan practice of Zakat, or almsgiving. The UK’s only Turkish-owned mosque, Shacklewell Lane is going against the rulings of various Islamic scholars and the Turkish government, who previously determined cryptocurrency to be “incompatible” with Islam. Interpretations are…

Former Obama Aide Targeted by Anti-Bitcoin Political Ad for Accepting Crypto Donations

Democratic congressional candidate Brian Forde has been targeted by anti-crypto political advertising for accepting Bitcoin (BTC) donations to his campaign, VICE reported Tuesday, May 22. Forde’s rival Dave Min, who is also running for the Democratic nomination for the upcoming congressional elections in California, circulated an ad suggesting that Forde’s donors are “Bitcoin speculators that oppose cracking down on drug deals and human trafficking.” In correspondence with VICE, Forde responded to the ad’s claims, saying: “These comments about my supporters are sensationalist, wildly inaccurate, and in line with my opponent’s…

Huobi Pro Launches New Crypto Market Index

Cryptocurrency exchange Huobi Pro is launching a new market index for its customers, the company announced Wednesday. The Huobi main force index will track ten different digital assets traded against USDT on its platform in real time, according to a press release. The index will “reflect the overall performance of Huobi Pro market,” allowing investors to see a single aggregated feed rather than having to check on individual assets one at a time. The index will use weighted samples, according to the press release, which explained: “Huobi main force has…

Nobel Prize Economist Says That Crypto the Latest in a Pattern of Alternative Currencies

In a May 21 article entitled “The Old Allure of New Money,” the 2013 Nobel laureate of Economics Robert Shiller calls crypto the newest iteration of alternative currency ideas. Shiller outlines the various types of alternative currency that have existed throughout history, saying that, “New ideas for money seem to go with the territory of revolution, accompanied by a compelling, easily understood narrative.” Shiller first refers to Josiah Warner’s “labor notes” of the Cincinnati Time Store in 1827, that sold merchandise in units of hours of work.The currency did not…

Crypto Could Pose a Problem for Candidates Seeking Security Clearances

The recognition of Bitcoin as a form of foreign currency could potentially have an impact on decisions in recruiting new employees to the US Department of Defence (DoD), Bloomberg reported May 22. The Pentagon’s chief concern is whether investment in cryptocurrencies indicates criminal intent or constitutes an increased predisposition toward risky personal behavior. This could detrimentally affect a job candidate’s profile should the DoD be considering them for a security clearance. For now, the Department of Defense has not produced guidance relating to the ownership of cryptocurrencies. The Pentagon is…

Ali Baba & PayPal Reject Crypto as a Medium of Exchange

Big investors and business icons are rejecting cryptocurrency as a viable medium for exchange. The market has been struggling to become a “reliable currency” despite several countries legalizing digital currencies and crypto exchanges. Bearish remarks from trend makers have been negatively impacting the crypto market. Bitcoin price (BTC) plummeted to the $8,000 level while the entire cryptocurrency market capitalization dipped to $80 billion in the last two weeks. Jack Ma, executive chairman and founder of Alibaba (NYSE:BABA), has claimed; “Bitcoin is a bubble”. He says the company is not planning to…

Crypto Debit Cards | Visa UK’s Former CEO Joins Crypterium to Develop Payment Method

Last week, on May 19, former Visa UK and Ireland CEO Marc O’Brien said in an interview with Business Insider that he had been named CEO of a cryptocurrency startup named Crypterium. O’Brien was the CEO of VISA UK from 2008 to 2014. During the interview, he said that the Crypterium team is working hard to promote the acceptance of cryptocurrencies like Bitcoin and Ethereum and make them legitimate payments. Tools that allow users to use them for daily product and service transactions, tools like crypto debit cards. “Currently, cryptocurrency is…

Crypto Scams | Find Out Who Was the Lastest Victim

Crypto scams are a prominent problem within the crypto industry. Even though the problem has been addressed on many occasions, and many are fighting to solve it, that doesn’t mean that the general public can sit back and not do their part to stay vigilant.  By being duped by these scams, you run the risk of ending up like Australian consumers in 2017. What does that mean? Read on, you’ll soon understand.  Crypto Scams Hit Australia  Yesterday, Australia announced that its consumers lost over $2.1M to crypto scams last year.…