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Remittance giant Western Union has been fined $568 mln after admitting to money laundering and supporting fraudulent wire transfers. Blockchain-based technologies can prevent such criminal activities.
Western Union, whose business model of money transfer could be under threat from bitcoin, is one of the new investors in Digital Currency Group (DCG).
As Greece approaches the referendum on Sunday July 5, there is complete uncertainty as to whether “yes” or “no’ will be voted for and what the ramifications of such a vote will mean.
In an unexpected partnership for a cryptocurrency business, Ripple has announced a partnership with fiat-based money transfer operator Western Union.
BitHalo announces the release of version 2.1 of its decentralized escrow client, adding a new feature that aims to compete directly with companies such as Paypal and Western Union, said the organization in an announcement.
Increasing awareness of the Bitcoin remittance market has put mounting pressure on extant fiat-based money transmitters to adapt their business models. Western Union has received much negative attention this year due to its corporate reaction to Bitcoin, so CoinTelegraph spoke to MoneyGram’s Peter Ohser to see how its competitors view the current market.
As the full list of comments on BitLicense is revealed, the list of contributors and their requests makes for interesting reading – even including a potentially prominent new critic of the scheme. Western Union and Amazon feature notably among the several thousand contributors, whose full texts were released yesterday and confirmed by Benjamin Lawsky on Twitter.
Last week the /r/Bitcoin community thought they came up with a clever ad (see image) that revealed the “true” costs of remittances. But this is an apple’s to orange’s comparison.
Western Union has become the latest target of one of the Internet’s more sophisticated dethroning campaigns – and, it seems, has already lost the battle to contain the consequences.
While Western Union CEO Hikmet Ersek suggested on Bloomberg TV that the company ‘would consider using Bitcoin’ in future, how likely would that in fact be?
If the metaphor that best applies to the Robocoin machines is an ATM, then the appropriate metaphor for Asia Nexgen Bitcoin Exchange’s new storefront in Hong Kong would be … Western Union?
Ecuador is a small country with a great potential for cryptocurrency and in heavy need of it. These topics were among the more important ones at the first ever meet-up for people invested in Bitcoin.
Drawing a line under the previous year, the 2013, our online magazine “The Coin Telegraph” allowed itself to publish several articles, containing expert opinions and forecasts about Bitcoin and its development in 2014.
During the Western Union Consumer Protection & Compliance Conference 2013 on 16th-18th of September, its executives gave a presentation that said it wasn’t yet suitable for international money transfer.
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