Tag: Issues

‘Dealt with firmly’ — Bali governor issues warning to tourists using crypto

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Bali’s government is cracking down on tourists paying for goods and services using cryptocurrency, with the island’s governor sending a reminder that Indonesia’s fiat currency is the only legal tender. On May 28, the government-owned news agency Antara reported Bali’s governor Wayan Koster hosted a press conference the same day and said tourists who “use crypto as a means of payment […] Will be dealt with firmly.” “Strict actions range from deportation, administrative sanctions, criminal penalties, closure of business premises and other tough sanctions,” he added. The meeting was attended…

Nike NFT Sale Surmounts Technical Issues to Hit $1 Million in Revenue

Although the first round was originally proposed to last for only two days, technical glitches and delays caused it to drag through nine days. Technical issues and unprecedented delays could not deter Nike NFT, OF1 collection, from setting mind-blowing records with its highly-anticipated sale. This follows after the NFT sale, which began just over a week ago, is reported to have officially raked in over $1 million. Debuting on Nike’s .SWOOSH Web3 platform, Our Force 1 (OF1) collection began selling on May 15. That was about a week later than…

Bitcoin analyst issues warning, dip below $24k could be inevitable

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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied In light of a modest 3% decline within the last 24 hours, cryptocurrency trader and analyst Ali Martinez has taken to Twitter to explain his belief that bitcoin’s price will likely continue its downward trend.  Martinez notes that the leading cryptocurrency appears to be losing support from crucial levels, increasing the probability of a significant price correction. There is a significant demand barrier between $23,200 and $24,000, where 340,000 BTC was purchased by 850,000 investors, totaling…

ICO issues Ministry of Justice with reprimand after confidential personal information left in prison holding area

The ICO has issued a formal reprimand to the Ministry of Justice (MoJ) after confidential waste documents were left in an unsecured prison holding area. Prisoners and staff had access to the 14 bags of confidential documents, which included medical and security vetting details, for a period of 18 days. During this time staff challenged prisoners who were openly reading the documents, but did nothing proactive to ensure the personal information was secured. At least 44 people had access to the information, which had remained on site as a contracted…

FBI issues alert on crypto labor trafficking

The Federal Bureau of Investigation (FBI) has issued a warning regarding the rise of labor trafficking connected to cryptocurrency scams.  In a recent report, the FBI highlights the trend of criminals exploiting false job advertisements to lure victims into Southeast Asia-based scam compounds, where they are forced to participate in fraudulent cryptocurrency investment operations. This emerging form of exploitation is a distressing blend of human trafficking and cryptocurrency fraud. New scams hit the marketplace According to the FBI, criminal actors specifically target individuals in Asia, using social media platforms and online employment…

Binance Australia suspends AUD fiat services, citing issues with third party

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Cryptocurrency exchange Binance Australia has informed users it has suspended Australian dollar services as its local payment services provider has seemingly stopped support for the exchange. On May 18, Binance Australia tweeted that AUD PayID deposits were suspended and bank transfer withdrawals will also be impacted “due to a decision made by our third-party payment service provider.” “We understand from our third party payment service provider that Bank Transfer withdrawals will also be impacted and we will advise users on timeline when this is confirmed,” it added. Fellow Binancians, We…

Bangladesh and India to Trade in National Currencies Due to US Dollar Liquidity Issues – Economics Bitcoin News

Bangladesh and India have decided to conduct trade settlements in their own currencies, bypassing the dominance of the U.S. dollar. According to sources from the Bangladesh Bank, the decision was made due to the issues of liquidity in foreign currency that Bangladesh faces, which are disrupting the flow of imports to the country. Bangladesh and India to Conduct Bilateral Trade in National Currencies The governments of Bangladesh and India have decided to conduct their bilateral trade settlements in national currencies, away from the dominance of the U.S. dollar. According to…

Iraq Issues Ban on US Dollar Transactions to Bolster Usage of Iraqi Dinar – Economics Bitcoin News

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The government of Iraq issued a ban on using the U.S. dollar for conducting business transactions on May 14. The ban, which is already in effect, is designed to bolster the usage of the Iraqi dinar, the fiat currency of the country, and to reduce the influence of the dollar and its exploitation in black markets. Iraq Issues Ban on U.S. Dollar-Based Transactions The Iraqi Ministry of Interior has issued a ban on using the U.S. dollar for conducting personal and business transactions in the country. According to local reports,…

Ethereum had two technical issues in 24 hours

The Ethereum (ETH) blockchain had a technical issue on May 12 that led to a stoppage of finalizing blocks for over an hour. The incident followed a previous technical problem on May 11, making it the second one in 24 hours. A bug could have attacked Ethereum The Ethereum Beacon Chain failed to finalize transactions for an unclear reason, causing major security concerns for users. Steven Zheng, the Block research director, mentioned that people speculate that the reason was bugs in staking clients or MEV infrastructures.  The Ethereum Foundation stated…