On the Paxful P2P marketplace, merchants are selling up to $ 16.2 million in discounted Bitcoins in exchange for gift cards – an amount that, according to a report by Arcane Research, accounts for half of Paxful’s trading volume, reports Cointelgraph.
Trading Bitcoin for gift cards accounts for 48 percent of Paxful’s sales, according to the report.
Much of this comes from trading in areas with underdeveloped financial services, including communities where migrant workers send money to their families, according to Arcane.
And since many of them are being sold at large discounts from market value, they could be linked to illegal activity.
Vortex Blockchain Technologies has reached an agreement with the Securities and Exchanges Commission (SEC) on a case in which Vortex’s securities license was revoked on October 23 for not filing regular reports to the commission for nearly a year.
The firm last filed in December 2019, the SEC said, and the long loophole made the revocation necessary.
In China, a local branch of the People’s Bank of China (PBOC) is making mass arrests and closing online gambling rings, according to a report by CoinDesk.
The gambling activities concerned the tether stablecoin. So far, 77 arrests have been made and three gambling sites have been closed, writes CoinDesk.
The arrests were made on suspicion of money laundering activities involving “whitewashing” to hide money from illegal online gambling. The total amount of money laundering reported is approximately 120 million yuan or $ 17.95 million.
The Japanese soccer star Keisuke Honda has launched a new cryptocurrency in collaboration with Rally as part of the Creator Coin initiative, according to a Medium article. Creator Coin aims to offer bespoke cryptocurrencies for content creators and personalities.
The coin, known as the KSK Honda Coin, will “give its fans from all over the world unparalleled access to his life as a football player and entrepreneur”.
Go-to-market benefits include exclusive Keisuke Honda videos talking about his career, private discord chats, and recognition. He said his idea was “to make new connections with my most loyal fans,” according to the article.
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NEW PYMNTS DATA: AUTHENTICATION OF IDENTITIES IN THE DIGITAL ECONOMY – DECEMBER 2021
About:More than half of US consumers believe that biometric authentication methods are faster, more convenient, and more trustworthy than passwords or PINs – so why are they using less than 10%? PYMNTS, in collaboration with Mitek, surveyed more than 2,200 consumers to better define this perception and usage gap and to find out how companies can increase usage.
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