Lawsuit Vs JPMorgan For Exorbitant Fees

A lawsuit has been filed against financial giant JPMorgan Chase & Co in Manhattan federal court accusing it of excessive fees and a surprise interest when it disallowed purchases of cryptocurrency with credit cards.

The complaint was initiated by an Idaho resident, Brady Tucker which most probably will become a class action suit.

The complaint states that JPMorgan Chase have broken the U.S. Truth in Lending Act which clearly states that customers should always be notified of any significant change in charge or terms.

The suit was filed on April 10, 2018, in U.S. District Court, Southern District of New York with docketing no. 18-3155.

The lawsuit is asking for actual damages and $1 Million USD for statutory damages.

Caribbean Nations Embracing Cryptos

Many Caribbean government and businesses are turning to cryptos to find ways to stabilize their economies.

The Caribbean Tourism Organization (CTO) in partnership with Bitt Inc., a Barbados-based Blockchain company, will be introducing cryptocurrency payments for tourism services and products offered in the region.

Rawdon Adams states that Tourism is a very important aspect in the Caribbean economy and is the largest single contributor.

It is believed that Cryptocurrencies will help lessen the impact of U.S. restrictions with access to dollar-based foreign exchange reserves.

Caribbean banks and authorities have been accused of aiding money-laundering activities.

Caribbean nations are set to fully embrace cryptocurrency as the Eastern Caribbean Central Bank, with the backing of 8 governments and economies, is planning to release a new digital asset called: Digital Eastern Caribbean Dollar (DXCD), moving strongly forward to a cashless society.

Bitcoin Private Supports Segwit And Gives Preview Of Merchant Payment Solution

The development team of Bitcoin Private (BTCP), fork-merge of Bitcoin and Zclassic, in a statement said that SegWit claiming using private keys is now supported.

In light of this event the team believes that it is a very big accomplishment for the BTCP ecosystem.

In addition to this the team revealed that the beta release of their merchant payment solution is set on track to be released late this April releasing some screenshots of the webapp.

It said that there are over 50 merchant vendors who signed up for beta testing.

The team has also been coordinating with HitBTC to have their cryptocurrency listed in the platform.

Requirements had been sent and the team is now awaiting feedback from the Korean exchange.

Establishment Of European Blockchain Partnership

Countries from all over Europe have signed on Aril 10, 2018 the establishment of a European Blockchain Partnership (EBP).

The list of the signatories includes Austria, Belgium, Bulgaria, Czech Republic, Estonia, Finland, France, Germany, Ireland, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Slovakia, Slovenia, Spain, Sweden and UK.

Members of European Union and European Economic Area are invited to join the EBP.
The partnership will contribute to the creation of an enabling environment that will ensure interoperability and broader deployment of blockchain-based services that is in full compliance with EU laws and clear governance models.

Blockchain is already being successfully tested in financial services and will be used in other digital applications.

Winklevoss Brothers Granted Crypto Patent

The founders of Gemini cryptocurrency exchange, Cameron and Tyler Winklevoss had been granted patent for a system on securing cloud-based transaction processing.

The patent was granted by the U.S. Patent and Trademark Office (USPTO).

The system is a combination of cryptographic techniques, hash functions and digital signatures. It was invented by Eric Winer, Cem Paya and Andrew Laucius.

Winklevoss IP is the legal entity that will be controlling the patent which already holds four other Patents and a number of trademarks.

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