Western Union bans cryptocurrency transactions

WU decided to block transactions with digital currency exchanges
05 December 2017   697

International money transfer services provider has started a campaign against wire transfer transactions with digital currency exchanges. This decision to block cryptocurrency services and transactions is covered by its internal regulations. Also they reported about it in a Reddit post about the cryptocurrency exchange Kraken. In that time they said they not processing a transaction with digital currencies because it is against WU internal rules.

This decision could have a negative effect for the operation of virtual currency exchanges and the consumers using cryptocurrencies. Also the WU company could leave much of business in the long term, because the cryptocurrencies popularity grows up.

The Western Union company was established in 1851. The firm offers some range of services -  remittance, wire transfers and business payments. Also earlier the company has been cross-border transactions through Blockchain.

Binance to Spread Crypto Fiat Wings

The list of upcoming jurisdictions was found by the Block
18 January 2019   62

The Block has gained access to the list of jurisdictions in which the largest cryptocurrency exchange Binance intends to launch fiat trading platforms. The latter use technology Binance, but will be separate legal entities.

Alleged Binance New Operation Jurisdictions
Alleged Binance New Operation Jurisdictions

In 2019, the exchange allegedly intends to launch full-scale activities in Malta and in Singapore. At the same time, South Korea, Liechtenstein, Russia, Turkey and Argentina are in the plans.

Note that in October last year, such a platform appeared in Uganda, and just a few days ago - on the island of Jersey.