Press Release Today TheBitTimes.com

Pouch founder Ethan Rose said that they've managed to convince 400 businesses to accept Bitcoin in the Philippines. As many developments within the space show how far the Bitcoin (BTC) community has come, an executive from a BTC payment provider shared how in other parts of the world, adoption may still be in its early stages.  At the BTC Prague event, Cointelegraph reporter Joseph Hall interviewed Ethan Rose, the founder of Pouch, a wallet service that supports the Bitcoin Lightning Network in the Philippines. The duo spoke about the state of adoption in the country and how the Pouch team is trying to introduce Bitcoin to merchants on the island of Boracay, a popular tourist hotspot in the country.  According to Rose, their team has already managed to onboard around 250 businesses within the island and 400 businesses in the country. Their team is working to promote Bitcoin adoption in the country by offering merchants another way to attract customers. “They're not really...

One of Australia’s Big Four banks announced efforts to combat crypto fraud activities aimed at reducing losses from scams. Westpac, one of Australia’s ’Big Four’ banks, is launching its first trial of scam protection measures designed to combat fraudulent activities related to cryptocurrencies. The protection measures aim to mitigate losses from scams and reduce potential risks. According to the announcement, investment scams account for approximately 50% of all customer losses linked to scams, while around one-third of all scams involve direct transfers to cryptocurrency exchanges, making them extremely difficult to trace. The Westpac ban comes on the same day Binance customers were told they could no longer use PayID to transfer Australian dollars to their accounts. Binance said a “third-party provider” had placed restrictions on the exchange, affecting bank transfer withdrawals for now. According to Scott Collary — Westpac’s group executive of customer services and technology — whi...

Switzerland ’s government will hold a national vote on whether to enshrine the availability of cash in the constitution amid concerns about the rise in digital currency, Bloomberg reported on Wednesday. A group called the Swiss Freedom Movement collected over 100,000 signatures in support of a plebiscite to safeguard cash at a higher level — under Swiss democracy, a referendum must be held if more than 100,000 citizens sign. “We need to change the constitution so we can retain cash as freedom for the next generation,” Richard Koller, president of the Swiss Freedom Movement, said in February. Neither the Swiss government or the central bank have intentions to abandon cash. The European country holds the most cash per capita according to data from 2021. Meanwhile, officials are worried that the rise in digital payments will cause a ‘downward spiral’ on cash use. Swiss National Bank vice president Martin Schlegel said in a speech in November 2022 that “cash is a well-functioning ...