Financial technology

The social network Facebook should remove misleading ads that caused scandal in the Netherlands, BGNES writes.

Ads that take advantage of the resemblance of ordinary people to some of the most popular people in the Netherlands are advertising fraudulent schemes for Bitcoin cryptocurrency investments.

The National Bank of Romania (BNR) announces the launch of the FinTech Innovation Hub project, a platform dedicated to dialogue with companies that develop innovative solutions of general public interest in the field of payment and financial services (FinTech), according to a release from the institution.

The total number of fintech companies in Bulgaria is 65, by which the country is a leader in the region of Southeastern Europe, according to the first of its kind report, prepared by the Bulgarian Fintech Association, writes TechNews.bg. In the last three years, the operating revenues of the fintech sector have doubled and the average growth of the industry on an annual basis is about 33.5%.

After five years of researches, the Chinese Central Bank has come close to introducing its own cryptocurrency, the official state media announced quoted by the Wall Street Journal over the weekend.

Cuba has announced it is considering the use of cryptocurrency in order to bolster its finances.

According to a report from SBS-AAP, the country's Communist government announced on state-run TV that it would potentially use crypto as part of a package aimed to boost incomes for as much as a quarter of Cubans and assist with market reforms.

Bitcoin has risen above $12,900 for the first time since Jan. 21, 2018, touching a new high for 2019 at $12,919, according to CoinDesk's BPI data.

According to the CoinMarketCap portal, which calculates the average price of more than 20 exchanges, to 7.21 am Bulgarian time, the price of bitcoin jumped 9.55% to 12.246 dollars.

A Dutch activist, whose bike was stolen at the northern port city of Thessaloniki during a stopover on his cycling journey from the Netherlands to India, managed to raise money to buy a new one thanks to a crowdfunding campaign.

Yet another group of organized criminals have been apprehended after illegally acquiring cryptocurrency, reports The Next Web. 

Three individuals in Bulgaria have been arrested and charged after obtaining over million (5 million lev) through illegal schemes. Prosecutors had been gathering evidence against the group since June.

Voluntary layoffs are reportedly expected next year with most credit institutions effecting a reduction in their employee numbers. The first large voluntary exit program, according to Kathimerini, is expected to be implemented by Bank of Cyprus, although guidelines and provisions for the layoffs have not been finalized yet.

The development of financial technology (fintech) enterprises in Greece could deliver a significant boost to the country's economy, according to a study by professors Giorgos Doukidis of the Athens University of Economics and Business and Panagiotis Kourouthanasis of the Ionian University.