Following a warning from the national watchdog earlier this month, regional authorities across the United Kingdom say Bitcoin scammers are using the coronavirus crisis to hoax citizens. In a series of consumer fraud alerts published throughout March, Manchester city council and the counties of Pembrokeshire and Norfolk echoed the Financial Conduct Authority (FCA)’s caution against “sophisticated” and “opportunistic” cryptocurrency-related schemes operating during the pandemic. Misrepresentations The three regional authorities identify a range of tactics adopted by Bitcoin (BTC) scams to take advantage of the social disorientation and anxiety amid the public health crisis. Manchester city council warns against: “Fraudsters purporting …

The 2020 Chess Candidates Tournament in Ekaterinburg, Russia has been postponed due to the coronavirus, but organizers are already looking to the future and how blockchain can give the sport a boost. The tournament pitted eight grandmasters against each other for the right to take on world champion Magnus Carlsen, but had to be halted after seven rounds when news emerged Russia was about to suspend international flights indefinitely. World Chess told Cointelegraph it was examining moving matches online and introducing blockchain technology. Opportunity for chess Ilya Merenzon, CEO of World Chess, the company that organized the last world championship …

COVID-19 has wreaked havoc on the global economy. As legislators in the United States go back and forth on how best to distribute aid, the conversation has amplified the potential role of a digital dollar to avoid the traps of traditional finance. Whether or not ongoing stimulus efforts lead to the minting of a digital dollar, it’s a subject that is on the minds of U.S. legislators in a new way, especially as China’s pending central bank digital currency (CBDC) continues moving forward. Cointelegraph spoke with several leaders in the blockchain industry to get their take on what a digital …

California Governor Gavin Newsom warned the public against Bitcoin (BTC) fraudsters during his live speech about the coronavirus outbreak. On March 26, Newsom mentioned the leading cryptocurrency as part of his official speech about what measures had been taken by the state to prevent the further spread of the virus in California. Newsom went on raising the public’s awareness and understanding that “extraordinary people, who do extraordinary bad things,” are apparently taking advantage of the pandemic, and further explained: “That doesn’t just include an interface with the government, but people claiming that we need to send the equivalent of Bitcoin …

New Jersey federal prosecutor Craig Carpenito is fighting the request of two alleged crypto scammers to be released from a county jail amid the coronavirus pandemic. According to court documents filed with the United States Department of Justice on March 24, Carpenito asserted that the recently enacted Bail Reform only preferences pretrial release of a defendant when their appearance at trial could be reasonably assured. Carpenito noted that COVID-19 has sparked a “national conversation” regarding whether pretrial detainees accused of nonviolent crimes should be released, in order to reduce the risk of coronavirus rapidly spreading in U.S. jails. However, he …

As the coronavirus continues to spread a total lockdown across the world, governments are creating the foundations for a new society of total surveillance. Can we stop the global pandemic without sacrificing our freedom? I believe we can, but the technology we deploy today should preserve privacy, not destroy our liberties due to global panic. Suspending fundamental rights during a crisis may seem comforting, but historically, the declaration of a state of emergency without end leads to new forms of fascism. Yet, from the Chinese censorship of doctors during its COVID-19 outbreak to the absurd lack of preparedness for a …

Communication-related tokens have surged over 18 percent in the last week, following in the footsteps of Zoom and other telecommunications stocks. Increase in the remote workforce During tumultuous times, investors are eager to find assets that can provide shelter or a hedge from volatility. For many decades, this usually meant either gold or gold mining company stocks, since they tended to have a negative correlation with the rest of the market. Over the last decade, many have been prophesying Bitcoin (BTC) as the “new gold”. During the recent crisis, however, investors have turned to the telecommunication stocks, with some Capital …

A global pandemic has changed the world. I write this on lockdown, unable to leave my home. A global pandemic has stripped the entire state of California and over 1.5 billion people globally from our rights and freedoms in an attempt to save lives. Businesses are being shut down, people are being laid off. Even I had to step down from my position of vice president at a cloud computing startup because of the pandemic, and now I find myself unemployed. The future is uncertain. The CEOs of the world are stepping down, the venture capitalists are drawing their purse …

Square’s Bitcoin (BTC) revenue continues to grow, even as the popular payments app lowers its first-quarter revenue estimates by $800 million due to the coronavirus crisis. According to a company announcement on March 24, COVID-19 was not a factor in the company’s growth until around 10 days ago: “While the beginning of March was relatively in line with the company’s expectations, over the trailing ten-day period Seller GPV [gross processing volume] has declined by approximately 25% year over year, with greater declines in recent days.” This resulted in Square revising its first-quarter total net revenue from an estimate of $1.3–1.344 …

In the latest disruption to the case between the self-proclaimed Satoshi Nakamoto, Craig Wright, and the estate of the late Dave Kleiman, the plaintiffs are seeking a two-week extension to discovery amid the coronavirus pandemic. In a motion filed on March 24, Dave Kleiman’s estate asserts that the COVID-19 lockdown has presented “numerous complications associated with meeting deadlines set prior to the onset of the global pandemic.” The COVID-19 pandemic makes depositions improbable With the plaintiffs’ representation currently working from home due to the law firms temporarily closing their offices, the Kleiman estate is requesting a two-week extension to complete …

Binance Charity has launched an initiative that seeks to raise $5 million in cryptocurrencies to purchase medical supplies for the countries that have been the hardest hit by the COVID-19 pandemic. Binance will lead the #CryptoAgainstCOVID campaign with an initial donation of $1 million USD. The exchange has also pledged to match up to an additional $1 million in public donations. Binance Charity to publish all transactions made with donated funds The funds will be spent primarily on medical equipment and supplies that will be distributed throughout Italy, Germany, Spain, South Korea, Iran, Turkey, the United States, and the United …

Pundits and public health experts alike are reeling at President Donald Trump’s pledge to get “the country opened up and rarin’ to go by Easter,” whatever the risks of coronavirus may be. With Easter less than three weeks away, the president has diverged from the advice of public health authorities worldwide, tweeting on March 24 that: “Our people want to return to work. They will practice Social Distancing and all else, and Seniors will be watched over protectively & lovingly. We can do two things together. THE CURE CANNOT BE WORSE (by far) THAN THE PROBLEM! Congress MUST ACT NOW. …