While the European Central Bank is studying the possible issuance of a Europe-wide CBDC, the digital euro, not all Europeans are fully behind this idea. Germany is particularly concerned about the privacy aspects of this implementation, as most transactions and payments are still made using cash, and citizens are reluctant to share their personal information.…
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Skepticism about the digital euro is strong in Germany, especially among older citizens who prioritize privacy and security in financial transactions. Many Germans remain resistant to the idea of a digital currency, with about half unable to imagine using it. Bundesbank President Joachim Nagel has called cash “sacred” in Germany, reflecting deep-rooted concerns about losing…
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Macquarie Bank, one of the largest banks in Australia, will not allow its customers to deposit or withdraw cash or cheques from its office branches starting this month. The move comes as the bank goes cashless, and transitions to digital payments, stating these are “a safe, quick, and more convenient way to bank.” Macquarie Bank…
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U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler has repeated earlier warnings about crypto “non-compliance” being a global “Wild West,” as speculative fever for BTC exchange-traded funds continues to swelter, with monolithic asset manager Blackrock revealing a plan to seed its own ETF with $10 million on Jan. 3. This and more just below,…
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A problem with Redsys, a third-party platform used in all of Spain, caused a meltdown for almost all of the digital payment options in the country, leaving citizens without means of payment for hours. The incident left stores without the possibility of using credit and debit cards for receiving payments, and users had to turn…
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In a startling investigation report, Atlanta News First uncovered the concerning practices of the U.S. Drug Enforcement Administration (DEA) task force officers. At Hartsfield-Jackson Atlanta International Airport, DEA officers, in plain clothes, have been found searching passengers’ carry-ons without warrants and seizing large sums of cash without making arrests. The report and attorneys say the…
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Ensuring low-value digital euro transactions are not traced is one of the recommendations made by two data protection agencies in the EU. The independent bodies have presented their joint opinion on the proposed regulation for the upcoming digital version of Europe’s common fiat currency. Independent EU Regulators Insist on Embedding Data Protection in the Design…
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A member of the eurozone is amending its constitution in order to guarantee citizens the right to cash payments. The move comes amid growing fears that a digital version of the common European currency may eventually become the only means of payment in the eurozone, despite currently being touted as merely an alternative. Lawmakers in…
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On May 2, 2023, Europol announced a collaborative effort between law enforcement agencies from the U.S., Europe, the U.K., and Brazil culminated in 288 arrests, along with the confiscation of 850 kg of illegal drugs, 117 firearms, and $53.4 million in cash and cryptocurrencies. This joint venture, named “Operation Spector,” successfully dismantled the darknet marketplace…
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According to the now-defunct crypto lender Voyager, Binance US sent a letter to the company “terminating the asset purchase agreement.” While the announcement was “disappointing” for Voyager, the firm maintained that its customers would still be receiving their cash and crypto through a “direct distribution” via the Voyager platform. Voyager’s Asset Purchase Agreement With Binance…
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