Image Image Image Image Image Image Image Image Image Image Image Image

| August 16, 2018

Scroll to top

Top

bans Archives -

Judge Bans Another Word at Manafort Trial

August 1, 2018 |

The judge in Paul Manafort’s trial told prosecutors Wednesday not to use the word “oligarchs” to describe wealthy Ukrainians who paid millions to the former Trump campaign chairman, the AP reports. US District Judge T.S. Ellis III told attorneys for special counsel Robert Mueller that the term “oligarchs” has…
Newser

White House Bans Reporter for ‘Asking Inappropriate Questions’

July 26, 2018 |

In what CNN calls “another serious escalation against the press by the Trump administration,” one of its White House reporters was banned from a press event Wednesday, apparently because she asked questions that President Trump didn’t like. As the pool reporter representing five networks during Trump’s meeting with European Commission…
Newser

Australian Bank Bans Use of Mortgage Funds for Crypto Speculation

July 14, 2018 |

Australian Bank Bans Use of Mortgaged Funds for Crypto Speculation

One of Australia’s oldest financial institutions, Bank of Queensland, has prohibited the use of home equity loans for virtual currency speculation. The move has been attributed to concerns pertaining to the growing regulatory oversight of the cryptocurrency sector in Australia.

Also Read: Tether Announces Appointment of New Chief Compliance Officer

Bank of Queensland Cracks Down on Customers Using Mortgage Funds to Trade Crypto

Bank of Queensland has banned its customers from using loans that are leveraged against home equity for the purposes of cryptocurrency speculation due to concerns pertaining to the increasing regulatory oversight of cryptocurrency activities in Australia.

Contracts issued by Bank of Queensland will now caution prospective borrowers “any loan purpose that involves the acquisition of or usage of cryptocurrency is unacceptable.” The Australian Financial Review (AFR) recently reported that a spokesperson for Bank of Queensland “has confirmed the changes.”

Whilst borrowers cannot invest the capital loaned for property straight into the cryptocurrency markets due to such being paid directly to the vendor, many opportunistic debtors have used funds that are redrawn from their mortgage in order to purchase virtual currency. Other traders have reportedly sought cryptocurrency exposure through accessing a line of credit – where the borrower draws on predetermined lines of credit accessed against property equity.

Australian Regulators Increasingly Target Cryptocurrency

Australian Retail Bank Bans Use of Mortgaged Funds for Crypto SpeculationA mortgage broker who wished to remain anonymous discussed financial institutions’ concerns pertaining to virtual currency speculation with AFR, asserting that lenders are increasingly monitoring debtors accounts for indications that they may be involved in cryptocurrency trading.

“They are concerned because the Australian Taxation Office, Treasury, the Reserve Bank of Australia and AUSTRAC are crawling all over it,” the broker said.

Additionally, AFR asserted that Australian “Lenders and prudential regulators are also concerned to prevent anything that might worsen the nation’s worrying household debt levels, which is already among the world’s highest.”

Other uses for mortgage funds typically prohibited by Australian financial institutions include the refinancing of payday loans, the payment of government fines or penalties, and payments to debt collection agencies.

What is your reaction the Bank of Queensland’s move to ban the use of mortgaged funds for cryptocurrency speculation? Share your thoughts in the comments section below!


Images courtesy of Shutterstock


At Bitcoin.com there’s a bunch of free helpful services. For instance, have you seen our Tools page? You can even lookup the exchange rate for a transaction in the past. Or calculate the value of your current holdings. Or create a paper wallet. And much more.

The post Australian Bank Bans Use of Mortgage Funds for Crypto Speculation appeared first on Bitcoin News.

Bitcoin News

Supermarket Bans Black Man for Questioning Its Policy

June 23, 2018 |

A Maine man says he’s pursuing legal action after an unpleasant encounter that smacks of racism, the Hill reports. Rory Ferreira, 26, says he wasn’t surprised to be carded Tuesday when buying wine at a Shaw’s store in Saco, Maine—but got suspicious when his wife was carded too. “I…
Newser

Delta bans pit bulls as emotional support animals, citing dog attacks

June 22, 2018 |

Kathryn Hurley, a director at a Los Angeles dog rescue service, has been flying for years with her pit bull dog, Jax, an emotional support animal that has been trained to behave on a flight.

She learned the hard way that Delta Air Lines has new restrictions on traveling with animals: Hurley had…


L.A. Times – Business

Censorship, Bans, and ETH Scams: Twitter Suspends Bitmain’s Official Account

June 16, 2018 |

Censorship, Bans, and ETH Scams: Twitter Suspends Bitmain's Official Account

This week the Twitter handle @Bitmaintech was locked down because Twitter administrators claimed the account belongs to a 4-year-old. The Twitter handle’s owner and Bitmain’s head of marketing have complained to the social media company’s support team and Twitter’s CEO Jack Dorsey. The account lockdown marks the second high profile bitcoin-related account that’s been banned from Twitter in just a few months.

Also Read: Study Reveals ASIC Miners Represent 30% of the Equihash Mining Hashrate

The Official Bitmain Tech Twitter Account Has Been Suspended

On June 14 Bitmain Tech’s head of marketing Nishant Sharma tweeted to his followers that the company’s official Twitter account @Bitmaintech had been banned from Twitter. At the moment the Twitter account is completely inaccessible to the public and the Beijing-based company’s active ad campaigns have been paused.   

Censorship, Bans, and ETH Scams: Twitter Suspends Bitmain's Official Account
The official @Bitmaintech Twitter account was locked on June 14, 2018.

Bitmain’s account accumulated thousands of Twitter followers over the past four years and now the account is unable to post or utilize the social media platform in any manner until the case is resolved.          

“The @Bitmaintech account is temporarily inaccessible because apparently, Twitter thinks that the people behind the account are as old as Bitmain i.e. 4 years old,” says Sharma.

It should be back soon (and long before Bitmain turns 13). @Jack help please. Case# 85911059

The Recent @Bitcoin Account Suspension

The account removal comes at an awkward time for the Twitter CEO, Jack Dorsey, who has been asked to address multiple issues tied to the social media platform. For instance, just recently the @Bitcoin account was banned and the topic was very controversial. The account with over 750,000 followers was initially suspended and then the account was restored with a much lower follower count than it had prior to the ban. Some people accused Dorsey of being biased and showing a conflict of interest towards supporters of the Lightning Network (LN) by allowing the banning of the @Bitcoin account. The reason for this speculation is due to Dorsey’s recent investment into the LN project.

Censorship, Bans, and ETH Scams: Twitter Suspends Bitmain's Official Account Censorship, Bans, and ETH Scams: Twitter Suspends Bitmain's Official Account

 Legitimate Accounts Banned, but ETH Bot Impersonation Thrives

Twitter users within the cryptocurrency industry are also dealing with the vast amounts of scamming ETH bots that have cloned nearly every well-known person in the crypto-community. The ETH bots have managed to scam millions worth of ether because Twitter will not remove the fraudulent accounts impersonating digital currency luminaries. So essentially people are pretty frustrated that Twitter has managed to ban and censor legitimate users like @Bitcoin and @Bitmaintech, while allowing fraudulent scammers to run amuck all over the platform.

Censorship, Bans, and ETH Scams: Twitter Suspends Bitmain's Official Account

The case of Bitmain losing it’s official account, because Twitter admins believe it belongs to a four-year-old, seems absurd, but Twitter has been a whacky place lately, and the company hasn’t been very responsive. The issues with Twitter also follows the recent accusations and admissions stemming from other social media platform CEOs abusing their powers. Back in 2016, the Reddit CEO Steve Huffman admitted to editing comments on the pro-Donald Trump subreddit, r/the_donald. This year Facebook’s Mark Zuckerberg has been scrutinized for selling user data to Cambridge Analytica. And now Twitter users are complaining about banned accounts and censorship and many of them are pointing their fingers at Jack.   

What do you think about Bitmain’s Twitter account getting banned because admins believe the account belongs to a four-year-old child? Do you think Jack Dorsey and Twitter have a lot of explaining to do? Let us know your thoughts on this subject in the comment section below.


Images via Pixabay, Bitmaintech, the Twitter logo, @bitcoin, @bitmaintech, @laurashin 


At Bitcoin.com there’s a bunch of free helpful services. For instance, have you seen our Tools page? You can even lookup the exchange rate for a transaction in the past. Or calculate the value of your current holdings. Or create a paper wallet. And much more.

The post Censorship, Bans, and ETH Scams: Twitter Suspends Bitmain’s Official Account appeared first on Bitcoin News.

Bitcoin News

UN: Plastic bans can work, but need planning and enforcement

June 5, 2018 |

The U.N. says government bans on plastic can be effective in cutting back on waste but poor planning and follow-through have left many such bans ineffective.
FOX News

World’s Second Largest Search Engine Bans Crypto Ads

May 16, 2018 |

World’s Second Largest Search Engine Bans Crypto Ads

Melissa Alsoszatai-Petheo, of Microsoft’s Bing search engine, announced its advertising arm is banning all cryptocurrency advertisements. This follows market leaders such as Google, Facebook, and Twitter either severely restricting crypto ads or banning them altogether.

Also read: Ethereum Futures in US One Step Closer as CME Deal is Struck

Microsoft’s Bing Search Engine Bans Crypto Ads

Advertiser Policy Manager, Melissa Alsoszatai-Petheo, posted an update to Microsoft’s Bing search engine ad policy. Bing Ads to Disallow Cryptocurrency Advertising is the title of the company’s rather obvious move. “We are always evaluating our policies to ensure a safe and engaging experience for our Bing users and the digital advertising ecosystem,” Ms. Alsoszatai-Petheo began. “Because cryptocurrency and related products are not regulated, we have found them to present a possible elevated risk to our users with the potential for bad actors to participate in predatory behaviors, or otherwise scam consumers.”

World’s Second Largest Search Engine Bans Crypto Ads

Bing has consistently ranked a very distant second behind the Google juggernaut, which gobbles up better than 60% of search traffic on the internet. Google at the beginning of 2018 announced a far more specific series of cryptocurrency related prohibitions, down to defining contract for difference (CFDs) products.

It wasn’t too much later when Facebook followed, as we reported at the end of January, with “a new ruling issued on January 30, ‘ads must not promote financial products and services that are frequently associated with misleading or deceptive promotional practices, such as binary options, initial coin offerings, or cryptocurrency.’” Twitter too, a mere two months later, presented its new advertising policy, severely restricting initial coin offering (ICOs) and token sales.

World’s Second Largest Search Engine Bans Crypto Ads

Protection is the Pretext

“To help protect our users from this risk,” the notice from Bing continued, “we have made the decision to disallow advertising for cryptocurrency, cryptocurrency related products, and un-regulated binary options. Bing Ads will implement this change to our financial product and services policy globally in June, with enforcement rolling out in late June to early July.”

Other than seeking a press cycle of promotion, it does appear “scams” were a bit of a problem during 2017, according to Bing’s annual report. “Tech scams are widely used by bad actors and we rejected 25 million ads in this category in 2017,” they insisted. And under the banner of misleading ads, Bing noted how last “year, we took down 30 million such ads, 20,000 such websites and 43,500 bad actors.”

Do you think crypto ad bans will have a negative impact? Share your thoughts in the comments section below. 


Images courtesy of Shutterstock.


Do you agree with us that Bitcoin is the best invention since sliced bread? Thought so. That’s why we are building this online universe revolving around anything and everything Bitcoin. We have a store. And a forum. And a casino, a pool and real-time price statistics.

The post World’s Second Largest Search Engine Bans Crypto Ads appeared first on Bitcoin News.

Bitcoin News

Zimbabwe Bans All Cryptocurrency Activity, Businesses Have 2 Month Grace Period

May 13, 2018 |

Zimbabwe Bans All Cryptocurrency Activity, Businesses Have 2 Month Grace Period

Zimbabwe’s central bank issued Circular to Banking Institutions No. 2/2018: Virtual Currencies, effectively banning all crypto activity in the African nation. Businesses dealing in decentralized currencies have 60 days to comply.

Also read: India’s Supreme Court Keeps Ban on Banks’ Crypto Services, For Now

Zimbabwe Bans Crypto

Issued 11 May, the Reserve Bank of Zimbabwe, the country’s central bank, laid out seven points in ordering the shutter of things crypto within the southeast African nation. Referencing two previous circulars going back as far as three years ago, the notice explains “’banking institutions’ attention is once again drawn to the risks involved with virtual currencies and the need to ensure strict adherence to sound risk management. Our investigations have revealed that the major cryptocurrency exchanges facilitating the trade of virtual currencies in Zimbabwe are Bitfinance (Private) Limited (Golix) and Styx24. Golix has gone further to set up an ATM machine through which cryptocurrency transactions are facilitated.”

Indeed, these pages first reported on the Golix crypto ATM last month, highlighting how “‘Since we got the machine, lots of people have come to check it out, to touch it,’ Golix representative Tawanda Kembo told Bitcoin.com. ‘At least 10-20 people walk in every day, since we launched it last Friday.’”

Zimbabwe Bans All Cryptocurrency Activity, Businesses Have 2 Month Grace Period

Crypto was widely thought to be something of a saving grace for the population, as we explained how the nation has a notorious relationship with monetary policy. “There is an acute liquidity crisis In Zimbabwe,” News.Bitcoin.com reported, “and so getting physical US dollars is both cumbersome and expensive (and illegal, the cash has to be bought on the black market).”

Fall of last year, another Golix spokesperson insisted, “there is currently more demand than supply of bitcoins… Interest in bitcoin has peaked as people cannot send money outside or pay for international transactions using formal banks. People have had to look for alternatives and bitcoin has been a useful solution which can be used to purchase goods on Amazon or to pay for vehicles from international suppliers and traders.”

A Government Known for Monetary Nonsense Unironically Fears Cryptocurrency

Famous for their many thousands of percent hyperinflation, Zimbabwe’s central bank unironically feared this week of how financial “regulators around the world have identified the dangers and risks presented by virtual currencies to financial stability which include risk of loss due to price volatility, theft or fraud, money laundering and other criminal activities. Further, cryptocurrencies can be used to facilitate tax evasion as well as externalization of funds in violation of a country’s laws.”

Zimbabwe Bans All Cryptocurrency Activity, Businesses Have 2 Month Grace PeriodThe order requires “all financial institutions … ensure that they do not use, trade, hold and/or transact in any way in virtual currencies; ensure that they do not provide banking services to facilitate any person or entity in dealing with or settling virtual currencies; and exit any existing relationships with virtual currency exchanges within sixty days of the date of this Circular and proceed to liquidate and restitute existing account balances.”

Prior to using a haunting turn of phrase, at the end of the order, to be “advised accordingly,” the country’s monetary authority hammered home the point by attempting to cover all the possible permutations of crypto business. The ban includes “maintaining accounts, registering, trading, clearing, collateral arrangements, remittances, payment and settlement accounts, giving loans against virtual tokens, accepting them as collateral, opening accounts of exchanges dealing with them and transfer / receipt of money in accounts relating to purchase / sale of virtual currencies.” 

What do you think the future holds for Zimbabweans with regard to crypto? Let us know in the comments section below.


Images courtesy of Shutterstock.


Need to calculate your bitcoin holdings? Check our tools section.

The post Zimbabwe Bans All Cryptocurrency Activity, Businesses Have 2 Month Grace Period appeared first on Bitcoin News.

Bitcoin News

Traffic Alert: Kansas Bans Cop Sex With Motorists

May 12, 2018 |

Kansas has passed a law that most people probably assumed the state already had. The new law bans police officers from having sex with motorists that they pull over, reports the Wichita Eagle . Although Kansas did have a law prohibiting police from having sex with people in jail, the new…
Newser