Officers of the Cybersecurity Department of Latvian Police exposed the activity of an organized gang of cybercriminals. During the operation, the law enforcers confiscated cash and cryptocurrency in the amount exceeding 110,000 Euro.
In this changing financial and economic environment, people are being forced to switch to cashless payments. Although most prefer to use traditional banking cards, some people prefer alternative means such as cryptocurrency. In fact, the interest in the latter is steadily growing, making users speculate it might replace bank cards over time.
The Chicago Mercantile Exchange (CME), a global derivatives marketplace, revealed that Bitcoin futures investors lean towards cash payments over the physical delivery method they receive in Bitcoin (BTC).
Talks about Central Bank Digital Currencies (CBDC) have been ongoing for a long time, however, we are seeing attempts at practical implementation only now as the coronavirus pandemic rages across the world.
Due to the coronavirus pandemic, Egyptians started withdrawing cash from their bank accounts massively. This forced banks to limit cash withdrawal and deposits as otherwise, it might cause a crisis and default.
Kentucky Republican Rep. Thomas Massie tried to delay the voting on COVID-19 relief bill by objecting a roll call voting that would not require the presence of all members in Washington. Eventually, he failed to do this as the quorum of the House members blocked his request.
As the COVID-19 pandemic rages across the entire globe, people are searching for ways to stop or at least halt its spread. As cash is considered to be a potential source of contamination, people are looking to limit its use turning to digital money and contactless payments instead.