Bitcoin News and Finance: What You Need to Know

Economist Peter Schiff has slammed Federal Reserve Chairman Jerome Powell over several key issues concerning the U.S. economy, the banking system, and the U.S. dollar. “Powell is a coward. He is not doing his job,” Schiff claimed, highlighting multiple factors affecting the economy that the Fed chairman overlooked in his statements before Congress this week. Peter Schiff Disagrees With Fed Chair Powell on Several Key Issues Economist and gold bug Peter Schiff has criticized multiple statements made by Federal Reserve Chairman Jerome Powell during his appearances before the House Financial Services Committee on Wednesday and the Senate Banking Committee on Thursday. Powell appeared before Congress this week to present the Federal Reserve’s semiannual Monetary Policy Report. Schiff expressed his disagreement with Powell’s remarks through a series of tweets over the past couple of days. In one tweet, he wrote: Powell acknowledged that the Fed’s growing balance sheet is a concern, bu...

Crypto exchange Binance has been ordered by Belgium’s Financial Services and Markets Authority (FSMA) to cease providing any crypto exchange and custody wallet services in the country. The Belgian financial regulator stressed that it “takes the view that by offering such services in Belgium from countries that are not members of the European Economic Area, Binance is in violation of that prohibition.” Belgian Regulator Orders Binance to Cease Crypto Services in the Country Belgium’s Financial Services and Markets Authority (FSMA) announced Friday that it has ordered cryptocurrency exchange to “cease immediately all offers of virtual currency services in Belgium.” The FSMA noted that “Binance is offering and providing exchange services in Belgium between virtual currencies and legal currencies, as well as custody wallet services, from countries that are not members of the European Economic Area.” The financial regulator emphasized: “The FSMA takes the view that by offering such serv...

The Bank of Tanzania (BOT) has reiterated that shillings remain the East African country’s sole legal tender. The apex bank said residents quoting prices in foreign currency or those refusing payment in Tanzanian shillings are in violation of the Bank of Tanzania Act 2006. The central bank said only commercial banks and Bureaux de Change are allowed to determine exchange rates. Rejecting Payment in Shillings a Violation of the Law The Tanzanian central bank has said the practice of demanding or quoting prices in foreign currency is illegal and that those refusing to accept payment in Tanzanian shillings are in violation of the Bank of Tanzania Act 2006. In a June 20 press release , the bank also reiterated that only commercial banks and Bureaux de Change are allowed to determine exchange rates. The latest warning by the Bank of Tanzania (BOT) came barely a month after the apex bank told the country’s authorized forex dealers to only trade with licensed international foreign currenc...

A lawyer representing Onecoin victims has urged Bulgarian authorities to reopen an investigation into the crypto pyramid scheme and seize assets to compensate his clients. The attorney is asking officials in Sofia to take into account developments he considers related to the case, including the recent murder of a Bulgarian crime figure in South Africa. Attorney Hopes New Bulgarian Chief Prosecutor Takes on Onecoin Investigation Dr. Jonathan Levy, a legal representative for people affected by Onecoin from several countries, has filed a new request that Bulgaria’s acting top prosecutor reopens an investigation into the multi-billion dollar crypto Ponzi scheme and seize associated assets for restitution of the victims. In a letter to the Bulgarian Ministry of Justice, Levy is turning attention to recent events that he believes are connected to the case. These include the murder of Bulgarian organized crime figure Krasimir Kamenov in South Africa, linked to the recently fired chief pub...

In the rapidly evolving world of Web3, where data security and privacy are paramount, innovative solutions are needed to protect sensitive information and establish trust within the decentralized ecosystem. This sponsored article delves into the concept of Zero Trust and explores how it serves as the foundation for a revolutionary platform called Mind Network . By combining the principles of Zero Trust with cutting-edge encryption techniques, Mind Network aims to empower users, developers, and businesses to secure their data, smart contracts, and AI models on the blockchain. Mind Network recently closed its seed round fundraising, led by Binance Labs and co-invested by SevenX Ventures, HashKey Capital, Arweave SCP Ventures, etc. Mind Network was incubated by Binance Incubation Camp Season 5 and selected into Chainlink BUILD Program . The Rise of Zero Trust Security Traditional security paradigms in Web2 environments relied on the assumption of trust within a centralized infrastr...

While as much as 66% of surveyed African residents claimed to have been exposed to digital assets like bitcoin, about 82% of respondents said they have never owned crypto. The findings of the survey study suggest that the adoption of crypto is more significant in poorer African countries than in better-off countries like Kenya and South Africa. Poor Nations Africa’s Leading Crypto Countries According to a study by Kasi Insights, a Kenyan research firm, as much as 82% of surveyed Africans have never owned crypto. Of the remaining 18%, only 8% of the respondents admitted to being holders of digital assets such as bitcoin. In contrast, as much as 66% of the respondents said they have been exposed to crypto. However, only 8% said they had “a considerable amount of exposure to crypto.” As noted by the authors of the report, these and other findings appear to undercut the belief that residents of the African continent have largely embraced and adopted crypto. In some cases, the findings...