Bitcoin

Bitcoin Daily: Former Shopin CEO Mandated To Pay $450K; UnionBank Of The Philippines Rolls Out Remittance Counters With Coin.ph’s Help

Binance Defeated In Australian Domain Name Case

A florist in Australia named Binancé has purportedly won a domain name disagreement with Binance, the digital currency exchange, Decrypt reported. Binance has been in dispute with the florist as of the middle of April. Lawyers for the firm reportedly contended that the Binance trademark has been registered in the country as of Nov. 21, 2018, but that the florist registered the domain name on Oct. 27 of last year. WIPO, which is the organization that deals with domain name cases, rejected ether complaint as Binance “has not discharged its onus of demonstrating the Respondent does not have rights or a legitimate interest in the disputed domain name.” Visitors to binance.com.au will reportedly find a florist in lieu of a crypto exchange.

In other news, the U.S. Securities and Exchange Commission (SEC) said it has received a final judgement in a district court against the founder and former CEO of UnitedData, Inc. d/b/a Shopin for holding an initial coin offering (ICO) that was allegedly fraudulent, according to a press release. The U.S. District Court for the Southern District of New York on June 19 entered a final judgement against Eran Eyal, who consented to the order’s entry “without admitting or denying the allegations of the SEC’s complaint” per the release. He was ordered to disburse $422,100 in “ill-gotten gains” in addition to interest of $34,940, which the agency was satisfied with the payment of 3,105.78 of ether coins following a past plea agreement via a criminal action in New York state that handled matters in the action of the SEC. The agency said it “voluntarily dismissed its claim against Shopin.”

On another note, UnionBank of the Philippines is rolling out 11,000 cash-out remittance counters throughout the island chain, and its efforts encompass areas outside of cities or places that are hard to reach, Coindesk reported. Edwin Bautista, the president and CEO of UnionBank, said per the report, “This cash-out service is just one way for UnionBank to demonstrate its commitment to financial inclusion as we continue venturing forth in tech-ing up the Philippines.” The financial institution indicated that it is growing a current collaboration with Coins.ph, which harnesses XRP digital currency and has a connection with Ripple. Other local remittance firms are offering services for the bank’s new collection of counters as well.

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New PYMNTS Report: The CFO’s Guide To Digitizing B2B Payments – August 2020 

The CFO’s Guide To Digitizing B2B Payments, a PYMNTS and Comdata collaboration, examines how companies are updating their AP approaches to protect their cash flows, support their vendors and enable their financial departments to operate remotely.

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