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Swedish Police Investigates Cybercrimes

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As the number of cybercrimes increase the Swedish police seeks the EU funds for further investigation on cryptocurrency crimes. This funds will allow the police forces to investigate ways on how to confront crimes involving cryptocurrencies

Horizon 2020

The Swedish are not alone, according to a recent evaluation report, Sweden, Austria and Germany have been preparing for a funding program called Horizon 2020 as a new European Union action against cybercrime.

Horizon 2020 was launched in 2014 and it is one of the most relevant EU research programs today, and although it is not mainly a research focused on cybercrime, it does include a section on cybercrime initiatives.

At the Horizon 2020 official website they state that:

“The goal is to ensure Europe produces world-class science, removes barriers to innovation and makes it easier for the public and private sectors to work together in delivering innovation”.

EU

The EU has made a total of €80 billion available to cover a wide range of research areas.

Setting out the law enforcement agencies’ plans, the report states:

“At present, the Swedish Police are participating in a consortium with the [Federal Police Force] in Austria and its counterpart in Germany to prepare a bid for Secure Societies on virtual currencies and the Darknet.”

While the report didn’t reveal the exact amounts to be solicited by the three police agencies, including the Swedish police it highlights the Internal Security Fund (ISF) – a European Commission funding pool with a total of €3.8 billion allocated for member countries’ police forces over the seven years until 2020.

The basic allocation for Sweden under this fund currently is €21 million, according to the ISF.

 

 

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SEC, CFTC Crypto Meeting in the US

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The Securities and Exchange Commission(SEC) and Commodity Futures Trading Commission (CFTC) meeting recently took place today, Feb. 6. The written testimonies of Jay Clayton and J. Christopher Giancarlo, the chairmen of the SEC and the CFTC respectively, have now been released publicly.

SEC/CFTC

SEC chairman Jay Clayton talked about the importance of distinguishing between ICOs as securities and non-securities.

Clayton said:

“Investors should understand that to date no ICOs have been registered with the SEC, and the SEC also has not approved for listing and trading any exchange-traded products (such as ETFs) holding cryptocurrencies or other assets related to cryptocurrencies. If any person today says otherwise, investors should be especially wary.”

A co-authored article in the Wall Street Journal showed both officials’ perspectives on the issue of cryptos, appearing during the World Economic Forum 2018 in Davos last month.

During the event many politicians had a voice to talk about the importance of cryptocurrency regulations.

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Bank Bans Credit Card Crypto Purchases

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The Lloyds Banking Group in Britain is one of the giants in the whole world and the largest in the UK, and it has recently become the first major credit card provider in the country to ban its customers from using credit cards to purchase digital currencies.

Credit Card Ban: Cryptocurrencies

The ban comes after the case of J.P. Morgan Chase, Bank of America, and Citigroup’s similar choice yesterday to ban credit cards purchases of cryptocurrencies for all their customers.

Lloyds, has in itself Halifax, Bank of Scotland, and MBNA, and it will block its 9 million credit card users from buying cryptocurrencies.

However, Lloyd’s customers will still be free to buy cryptos with debit cards.

The credit card crypto ban came into place after Bitcoin saw a huge price drop in the market this week, falling below $8000 for several days which is not very good for the mainstream crowd.

Lloyds stated that the ban will “protect customers” that could store big amounts of credit debt if the market price keeps going crazy, which it may, if cryptos stay true to their rule of volatility

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Airline in Japan to Support BTC

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Japanese airline, Peach Aviation has announced that it plans to accept Bitcoin (BTC) as a payment method.

Airline BTC Payment

The idea had been delayed, however it has been confirmed that they will in fact go through with it.

Japanese broadcasting corporation NHK World had previously posted an article about Peach Aviation doubting cryptocurrencies after the Coincheck hack for $534 mln. The article was removed not long after.

According to the airline, the rumors that Peach Aviation would not follow through with their BTC payment option after the NHK article, are false.

They said:

“There have been some reports today on our company retracting its plan to enable airline tickets to be purchased with Bitcoins; however, this is not something that was announced by our company and is not a fact. We are currently considering our start period in aiming to introduce such a service.”

Although it is still a new thing to include cryptocurrencies as a form of payment in airlines, Peach Aviation is not the first to accept them.

Back in July 2017, AirBaltic introduced to their customers the option to purchase flights with Bitcoin. On the Blockchain court, Singapore Airlines have just today, announced a Blockchain-based frequent flyer app which will be releasing in August this year.

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