Western Union bans cryptocurrency transactions

WU decided to block transactions with digital currency exchanges
05 December 2017   775

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.

PwC to Represent Crypto Analysis Tool

Halo aims to provide warranty services to cryptocurrency transactions, in particular, the solution helps to create independent evidence for private-public key pairs
20 June 2019   81

One of the world's largest consulting firms, PricewaterhouseCoopers (PwC), announced the launch of an updated audit solution that supports cryptocurrency assets. This is stated in the press release of the company.

A tool called Halo aims to provide warranty services to cryptocurrency transactions. In particular, the solution helps to create independent evidence for private-public key pairs, which is one of the elements necessary for establishing cryptocurrency ownership rights.

In addition, Halo can collect information about transactions and balances on the blockchain.

As noted in the statement, the decision can be used by companies for which PwC is not an auditor. The initiative should help them try new opportunities and solve problems related to the blockchain and cryptocurrencies.

Currently, PwC can use the updated tool to provide warranty services to customers operating Bitcoin, Bitcoin Cash, Bitcoin Gold, Bitcoin Diamond, LiteCoin, Ethereum, Ripple (XRP), as well as the ERC-20 OAX token.

PwC has been showing quite a strong interest in the cryptocurrency industry for several years now. So, in 2017, the company began accepting payments in Bitcoins, and last year began to develop new standards for the ecosystem of digital assets and stablecoats.