Zelle, the Banks’ Answer to Venmo, Proves Vulnerable to Fraud
"Interviews with more than two dozen customers who had their money stolen through Zelle illustrate the weaknesses that criminals are using in targeting the network."
India bank run underway after $2B scam at state-run bank prompts bailout bill
"Indians are concerned that a proposed bill, which gives regulators the option to use public deposits to bail out a bank that goes bust, is pushing individuals to hoard cash. The government has repeatedly issued statements to assure the public that their money would be safe. These concerns are heightened by news that emerged in February of a $2 billion fraud at state-run Punjab National Bank, where a jeweler allegedly colluded with a bank employee to siphon off money before leaving the country."
How I went dark in Australia’s public transport surveillance state for 2 years
"As long as I'm carrying my Black Opal, there's that little shred of liberty. If this the hill I die on, at least you'll never know how I got here."
Governments Hate Bitcoin and Cash Because They Protect People’s Privacy
"If they're going to be so explicit in their hostility to the anonymity and liberty those means of exchange offer people, we should take them at their word. Let's be clear in response that what they see as problems are the precise features we like about cash and cryptocurrencies. We support our well-worn folding money and bitcoin and its successors to come precisely because they put at least some of our activities beyond the reach of control freaks who want to monitor, tax, and regulate our lives."
Chinese Stocks Tumble As H.K. Officials Monitor Surge In ATM Withdrawals
"Anxiety is only increased by the latest report from Reuters that cash withdrawals at Hong Kong ATMs have surged, prompting scrutiny from monetary authorities, the banking industry, and police amid media reports that mainland Chinese are withdrawing hundreds of thousands of dollars using up to 50 cards at a time. China has battled to curb capital outflows for years. A move that took effect on Jan. 1 caps overseas withdrawals using domestic Chinese bank cards."
California to create a state-run bank for pot businesses to ease tax collection
"Store owners, growers and distributors are being forced to use cash because most banks won’t open accounts for them while the federal government still considers marijuana illegal. As revenues inevitably increase, they will be lugging larger stacks of 50s and 100s to the tax collector, a situation that everyone agrees makes businesses vulnerable to thievery, violent crime, money laundering and extortion."
Between Walmart and Kroger, 500 stores are about to ditch cashiers
"Grocers are under pressure, in an already thin-margin business, to cut costs and make the shopping experience more enjoyable for customers."
Indian banks freeze major cryptocurrency exchange accounts
"Several major Indian banks have suspended the accounts of top Bitcoin exchanges in India. State Bank of India, Axis Bank, HDFC Bank, ICICI Bank, and Yes Bank cited suspicious payments in their decisions. The move comes after tax authorities sent notices to cryptocurrency investors warning that they must pay capital gains on their income from the virtual currency. For the few accounts still open, the banks have asked for more collateral, and have capped cash withdrawals."
James Corbett: The Bitcoin Psyop
"Yes, the blockchain is truly revolutionary. Yes, bitcoin is Tulipmania 2.0. Yes, cryptocurrency is a nail in the coffin of the bankster parasites. Yes, digital currency is a tool of the totalitarian tyrants. No, these statements are not contradictory. But don’t worry if you think they are. You’re just a victim of 'The Bitcoin Psyop.'"
Israeli Government Considering National Cryptocurrency
"Israel is considering offering a national cryptocurrency- a digital shekel - which would correspond in value to physical shekels. Additionally, the government is considering legislation that would substantially reduce the amount of physical cash in the economy. For example, one suggestion would be a law against paying wages in cash."