Visa Apologized for the Double Write-off of Commissions When Purchasing on Coinbase 228

Visa Apologized for the Double Write-off of Commissions When Purchasing on Coinbase

The operator of payment cards Visa took responsibility for the double commission and erroneous write-off of funds from the accounts of Coinbase users, although earlier he fully denied his guilt.

Last week Coinbase users faced a serious problem. In the network, complaints about erroneous write-offs of commissions from credit and debit cards began to appear. Coinbase, after confirming these messages, completely shifted the responsibility to Visa, saying that the reason for double write-offs became mistakes in Visa operations. Thus, Coinbase completely took off responsibility for what happened.

In the interview with Financial Times, the representative of Visa also blamed Coinbase for mistake, saying that Visa “did not make any system changes that would lead to duplication of transactions reported by cardholders […], we also do not know other sellers facing this problem. “

However, in a short period of time, Visa unexpectedly denied what had been said before. A joint statement by Visa and Worldpay, published in the official Coinbase blog, says:

“Over the last few days, some Coinbase customers may have experienced additional charges and/or refunds when purchasing digital currency with a credit or debit card. We know this experience is frustrating. We are actively working with the card networks and processors to investigate these issues”.

The statement also pays attention to the fact that at the time of disclosure of information most of the erroneous transactions were canceled, and those users who continue to face this problem, need to contact the bank that issued the card.

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The Japanese bank MUFG Will Launch Its Own Cryptocurrency 160

The Japanese bank MUFG Will Launch Its Own Cryptocurrency

After loud statements by Buffett and Gates concerning cryptocurrency, it seemed that at least the state institutions of countries would refuse from it, but a Japanese bank Mitsubishi UFJ Financial Group still decided to acquire its own cryptocurrency, MUFG Coin, in 2019.

“Regarding the speculation (in) media reports, these reports are not based on any announcement by MUFG, and the details have not been decided,” the bank’s spokesman said in an emailed statement to Reuters. “However we can only say that it’s true that MUFG is conducting demonstration experiments on the ‘Coin’ within the company utilizing a blockchain technology.”

According to NHK Japan, the digital currency MUFG Coin will be tested for suitability in several regions of the country. 100,000 people who are associated with the company will be able to participate.

Representatives of the bank will provide an opportunity for users to use the cryptocurrency as a means to pay for goods and services in shops and institutions. The bank’s digital currency can be transferred to the accounts of those who participate in the project. If the idea is successful, then MUFG will be the first Japanese bank that has its own digital currency.

The MUFG coin can be used exclusively in Japan. In the world market it can be traded in pairs at non-financial currency exchanges instead of USTD (Tether cryptocurrency, tied to the dollar).

Those people who have downloaded and installed an application that automatically converts deposits into MUFG Coin will be able to take part in the test of the new currency. The cost of one coin is equal to one yen.

We remind you that the management of Mitsubishi UFJ Financial Group announced its intention to launch a  cryptocurrency exchange with the national currency, as well as a service with split Bitcoin-accounts.

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Cryptocurrency Advertising Was Banned on the Bing Search Engine 71

Cryptocurrency Advertising Was Banned on the Bing Search Engine

According to Investing, the search engine Bing, which belongs to the largest corporation Microsoft, will no longer display ads on cryptocurrencies, blockchain technology and products related to digital currency.

“Because cryptocurrency and related products are not regulated, we have found them to present a possible elevated risk to our users with the potential for bad actors to participate in predatory behaviors, or otherwise scam consumers.” wrote Melissa Alsoszatai-Petheo, a Bing advertiser policy manager, in the announcement. “To help protect our users from this risk, we have made the decision to disallow advertising.”

The updated policy on financial products and services will go into effect worldwide in June, and the enforcement will begin in late June or early July. Although Bing is not the most popular search engine, but the market of cryptocurrencies reacted to the news with a fall.

We remind you that earlier such global media, as Facebook, TwitterGoogle and YouTube refused to display ads of cryptocurrencies.

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