Major Pan-African Insurance Firm Rolls Back Insurance for Crypto Mining Equipment

Pan-African insurance company Old Mutual has opted out of insuring cryptocurrency mining equipment due to the absence of regulation in the industry. Pan-African insurance company Old Mutual has opted out of insuring cryptocurrency mining equipment due to the absence of regulation in the industry, local technology-focused new outlet ITWeb reported on June 10. Following comprehensive…

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FT: US Regulator CFTC in Talks With Facebook Over Rumored Crypto Plans

United States regulator the Commodity Futures Trading Commission (CFTC) is in talks with Facebook about its upcoming stablecoin launch, the Financial Times (FT) reported on June 2. Citing chairman J. Christopher Giancarlo, the publication revealed that Facebook is attempting to smooth out the regulatory landscape ahead of the asset, currently dubbed GlobalCoin, allegedly going live…

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UK Watchdog Reports $34 Million Lost in Crypto and Forex Scams Last Year

The primary financial regulator of the United Kingdom, the Financial Conduct Authority (FCA), reports that crypto investors in the country lost over $34 million due to cryptocurrency and forex scams from 2018–2019 the Financial Times reports on May 20. According to the data, which the FCA gathered from the U.K. national fraud and cybercrime reporting…

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Bitcoin SV Experiences Blockchain Reorganizations, Possibly Due to Unwieldy Block Size

The Bitcoin Satoshi Vision (BSV) blockchain is struggling with its large block size following a series of block re-organizations, cryptocurrency exchange BitMEX tweeted on April 19. In the post, BitMEX reveals that on April 18 its BSV node “experienced 2 block re-organizations. First a 3 block re-organisation, followed by a 6 block re-organisation.” BitMEX provided…

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Romanian Central Bank Official Says Crypto Will Not Fulfil Basic Roles of Currency

An official from the Romanian central bank has stated that cryptocurrency will not replace currency issued by central banks as it is not necessarily a currency. The news was published by local media outlet Business Review on April 16. Daniel Daianu, a member of the Romanian National Bank (BNR)’s Administration Council, reportedly stressed the necessity…

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