Digital Money Around The World Reported Last Week

Crypto Report Last week

Monday, it has been reported that the US-based cryptocurrency trading platform, Poloneix, finally responded to complaints by their clients about frozen accounts. The company convinced the clients that their funds were safe and they increased the speed of the identity verification process. UK’s Financial Conduct Authority (FCA) also revealed its investigation of about two dozen unauthorized cryptocurrency-related ventures.

Tuesday, John McAfee issued another bullish prediction regarding Bitcoin (BTC). McAfee predicted that it will surpass $15,000 in June but will dip in July. The Russian analysts predicted the opposite and expected the value of BTC to drop even below $6,000 USD threshold.

McAfee also claimed that the banks, the government and the US Securities and Exchange Commission have declared war on crypto. He advised crypto enthusiasts to take some action.

Wednesday, cryptocurrency is still a burning topic in China. Chinese social media erupted in anger after the use of a Mao Zedong impersonator at the Boao Blockchain Forum for Asia in Hainan province. Reportedly, a Chinese procurator’s office has recovered 1.7 billion yuan (about $270 million) in an alleged Onecoin pyramid scheme and prosecuted 98 people.

Thursday, “Mining is a numbers game; it’s only worthwhile if the value of the cryptocurrency you generate exceeds the cost of producing it. Increasing the number of graphics cards per node is a great way to stack the deck in your favor,” the company stated. It was reported that Taiwanese computer hardware manufacturer Asus built a new motherboard to withhold up to 20 graphics cards, designed specifically for crypto miners.

Friday, “I was very impressed by the enthusiasm of Africans to introduce cryptocurrency and blockchain technology. It was surprising to see that cryptocurrencies enjoy not only an increased interest from the people but also the active support of many representatives of African banks and government officials,” CZ stated. Uganda made it on the news headline after the CEO Changpeng Zhao revealed at The Africa Blockchain Conference that Binance may be opening a new office around the area. Also reported that Bahrain enjoyed an online trade using cryptocurrency due to a lack of limiting regulations and a shop selling crypto-priced items is opening soon in Riffa.

Saturday, Lawmakers in Spain issued a public call for adopting regulations that favor the implementation of crypto and blockchain technologies. The government of Slovenia has approved an action plan to underpin the implementation of blockchain technology in the country and create a regulatory framework for cryptocurrencies.

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