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Texan authorities issue cease & desist order against cryptocurrency credit card scheme – FinanceFeeds

texan authorities issue cease & desist order against cryptocurrency credit card scheme – financefeeds

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The order targets Lance Angus Jerrard and his companies, Liquidity Gold Trust, Liquidity Gold Solution LLC and Liquidity Global Card Solution (PTY) LTD.

Texas Securities Commissioner Travis J. Iles on Friday entered an emergency cease and desist order to stop South African firms from fraudulently recruiting Austin residents to participate in a cryptocurrency credit card scheme.
The order targets Lance Angus Jerrard and his companies, Liquidity Gold Trust, Liquidity Gold Solution LLC and Liquidity Global Card Solution (PTY) LTD. The order accuses them of running advertisements on 590 AM KLBJ Radio, a radio station that broadcasts in Austin, Texas. They are also allegedly promoting their scheme through internet websites and social media, such as Facebook, LinkedIn and Twitter.
Their pitch is built on cutting-edge blockchain technology and cryptocurrencies. According to the order, the companies are promoting the Liquidity Card, claiming it is a Mastercard that functions like a traditional debit card. The Liquidity Card, however, works with stablecoins, which are cryptocurrencies pegged to fiat money or other assets to minimize volatility in price. In this case, the Liquidity Card purportedly works with USD Coin (USDC), TrueUSD Coin (TUSD) and PAX Coin (PAX).
According to the order, the companies are touting the …

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HashCash to Offer Blockchain-Based Merchant Solutions to Global Ecommerce Company

hashcash to offer blockchain-based merchant solutions to global ecommerce company

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The acceleration of crypto dominance globally has pushed many retailers and eCommerce enterprises to include crypto payments within their modules. On a similar note, leading blockchain and crypto development company, HashCash Consultants has collaborated with a global eCommerce enterprise and will help

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Boston Fed Bank explores cryptocurrency with MIT

boston fed bank explores cryptocurrency with mit

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“We’re not building this for tomorrow, we’re building this for future years,” said Jim Cunha, senior vice president at the Boston Fed.Boston Fed Assistant Vice President Robert Bench is working for Cunha to rip apart what makes cryptocurrency — sold as Bitcoin, Ethereum, Litecoin and more — be so successful.
The idea, both explained, is to “leverage the cutting-edge technology” and determine if government-backed currency can be dollars, cents and Bitcoin.
“We’re really trying to understand what the technology can offer and if it’s a path we’d like to go down,” Cunha told the Herald. “I liken it to the early days of the internet” when opinions varied on the longevity of the medium.
We know how that story played out.
Now cryptocurrency is on the upswing as some questions about the dollar bill spread with fears of the coronavirus. As of Friday evening, one Bitcoin was selling for $11,785 — up 27.51% over the past month, according to the Coinbase app.
But don’t toss your paper money just yet, Bench said.
“When you’re dealing with something as high stakes as the U.S. dollar, you can’t break it,” Bench said. “Part of the great success …

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Cobalt Blockchain Announces Increase in Private Placement Financing

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Toronto, Ontario–(Newsfile Corp. – August 14, 2020) –  Cobalt Blockchain Inc. (TSXV: COBC) (OTC Pink: COBCF) (“COBC” or the “Company”) is pleased to announce that further to its press release dated April 17, 2020, it has increased the size of its private placement financing (“

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UK woman arrested for ‘fraudulently obtaining’ £115,000 worth of cryptocurrency

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A 35-year-old woman was arrested for illegally obtaining £115,000 worth of cryptocurrency on Wednesday according to a report by the Met’s Proactive Money Laundering Team. Detectives opened the investigation because the unnamed woman seemed to be controlling a large amount of “fraudulently obtained” bitcoin, according to the report. She allegedly applied for a number of ‘Bounce Back Loans,’ a program launched by the United Kingdom’s government to assist small businesses amid the COVID-19 pandemic. The Met claims the woman  utilized a number of mule bank accounts to receive the proceeds of fraudulent applications.The investigation revealed that the money was then transferred from the mule accounts to the suspect’s cryptocurrency wallet. Later, Met officers along with officers from Suffolk Constabulary’s Proactive Crime Team searched the woman’s residence in Ipswich, finding multiple children left on their own.However, the woman was later caught near her residence and arrested on suspicions of fraud, money laundering and child neglect. She was then taken to the police station for questioning, but released shortly afterward. Met officers have applied to a London magistrates’ court for the seizure of the money held in the suspect’s crypto wallet, per the report.  “I …

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Bove Says Dollar’s Dominance Challenges Include Cryptocurrency – CoinDesk

bove says dollar’s dominance challenges include cryptocurrency – coindesk

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The long-existing U.S. dollar-ruled financial system could come to an end amid challenges from a potential multiple-currency system, which includes digital currencies, according to an Aug. 14 research note by Dick Bove, noted senior research analyst at Odeon Capital Group LLC, a New York City-based investment bank.

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