Daily Archives: July 22, 2021

JPMorgan Begins Offering 5 Cryptocurrency Funds to Clients

JPMorgan Begins Offering 5 Cryptocurrency Funds to Clients

Global investment bank JPMorgan has reportedly green-lighted its advisors to provide clients with access to five cryptocurrency funds. The funds are available to all JPMorgan’s wealth management clients seeking investment advice. The move makes JPMorgan the first large bank to expand crypto trading access beyond just ultra-wealthy clients.

JPMorgan Now Offers Access to Crypto Funds

  • JPMorgan has given its financial advisors the green light to give all its clients access to cryptocurrency funds, the Insider reported Thursday, citing people directly familiar with the matter.
  • This move makes JPMorgan the first large bank to expand crypto trading access beyond just ultra-wealthy clients, the publication conveyed.
  • In a memo distributed earlier this week, JPMorgan told its advisors that effective July 19, they can take orders to buy and sell five cryptocurrency products. Four of them are from Grayscale Investments: the Bitcoin Trust, Bitcoin Cash Trust, Ethereum Trust, and Ethereum Classic Trust. The fifth approved fund is Osprey Funds’ Bitcoin Trust.
  • A person directly familiar with the move said that the new offering applies to all JPMorgan clients seeking investment advice, including the bank’s self-directed clients using its commission-free Chase trading app, mass affluent clients whose assets are managed by financial advisors under JPMorgan Advisors, and ultrarich clients serviced by the firm’s private bank.
  • Greg King, founder and CEO of Osprey Funds (OTCMKTS: OBTC), told Forbes:

We are excited to be onboarded to the JPMorgan wealth platform. OBTC remains the lowest-priced publicly traded bitcoin fund in the U.S. and we believe JPMorgan’s clients will see value in the product.

  • JPMorgan has come a long way with regard to cryptocurrency. In 2017, CEO Jamie Dimon threatened to fire employees who traded bitcoin. He said in May this year that his personal advice to people is to “stay away” from cryptocurrencies, including bitcoin. However, he acknowledged that his clients want to invest in this asset category.
  • Recently, Mary Callahan Erdoes, J.P. Morgan Asset & Wealth Management’s CEO, said that many of the bank’s clients view crypto as an asset class and want to invest in it.
  • With this crypto move, JPMorgan joins a growing number of investment banks that have offered or are planning to offer some kind of crypto investments or services to clients, including Morgan Stanley, Goldman Sachs, and Citigroup. However, JPMorgan is the first to give retail wealth clients direct access to crypto products.

What do you think about JPMorgan offering clients access to cryptocurrency funds while Jamie Dimon advised against investing in cryptocurrencies? Let us know in the comments section below.

Billionaire Thomas Peterffy Invests in Crypto, Says There’s a Chance It Could Be ‘a Dominant Currency’

Billionaire Thomas Peterffy Invests in Crypto, Says There's a Chance It Could Be 'a Dominant Currency'

The founder and chairman of Interactive Brokers, Thomas Peterffy, has revealed that he put money in crypto because he believes “there’s a small chance that this will be a dominant currency, so you have to play the odds.”

Interactive Brokers Chairman Invests in Crypto

Thomas Peterffy, founder and chairman of a major online trading platform, Interactive Brokers (Nasdaq: IBKR), revealed in an interview with CNBC Wednesday that he has invested in cryptocurrency.

Interactive Brokers has about 1.33 million customer accounts and $330.6 billion in customer equity as of the first quarter. Clients from over 200 countries and territories invest globally in stocks, options, futures, currencies, bonds, and funds from a single integrated Interactive Brokers account. According to Forbes, Peterffy’s net worth is currently $21.4 billion.

The chairman explained that he has invested in cryptocurrency even though he is unsure of its future, stating:

Even I myself have put a little bit of money into crypto, because even though chances are, I think, that this is not going to be a viable market, I think that there’s a small chance that this will be a dominant currency, so you have to play the odds.

Peterffy has been critical of bitcoin in the past, particularly in 2017 when CME was preparing to launch bitcoin futures.

He told the news outlet at the time that he had no problem with people who wanted to trade bitcoin and other cryptocurrencies. However, he noted: “What I am objecting to is linking bitcoin and other cryptocurrencies by federal regulations to the real economy, which would happen if we were to clear bitcoin along with other products in the same trading house.”

Meanwhile, his company is preparing to launch cryptocurrency trading by the end of the summer. Peterffy said, “Customers certainly are asking for [crypto trading] and we expect to be ready to offer it to them by the end of the summer.”

What do you think about the comments by the Interactive Brokers chairman? Let us know in the comments section below.

Crypto Exchange BitYard Undertakes Brand Refresh With New Logo and Slogan ‘Grow Your Future in the Yard’

PRESS RELEASE. BitYard, the world’s leading cryptocurrency derivative exchange based in Singapore, announced a refreshed corporate visual identity: a new logo highlighting ‘B’ & ‘Y’, a fresh slogan, and a vivid color palette. While ‘B’ conveys the strong belief on an inevitable trend of Bitcoin and other crypto evolving into currencies in global usage, the letter ‘Y’ derived from the word ‘Yard’ signifies BitYard’s ambition to become global traders’ backyard oasis, offering the most diverse digital investment services. Along with the brand refresh, BitYard introduces an optimal UI/IX on its mobile App, aiming to ensure the services run smoothly. Not only does the upgrade inject new vitality into BitYard, but it also provides its users with a more accessible, personable, and pleasant experience in their digital trading journey.

The new slogan of BitYard ‘Grow your future in the yard’ is at the heart of the company’s vision of becoming the perfect beginner-friendly backyard for global investors. The slogan also evokes our collective memory: the carefree days playing in the yard with limitless creativity. While yard is a place full of imagination for children, BitYard hopes the yard remains a source of inspiration for the grown-ups, motivating and assisting them in building a promising future and make their dreams come true.

BitYard resolves to permeate every facet of digital asset trading service, and most importantly, BitYard is intent on becoming traders’ backyard oasis, which is furnished with rich soil — a fast and secure trading platform — and multiple handy garden tools — a variety of digital financial services. So far, the flourishing backyard oasis built by BitYard encompasses all aspects of trading services. One of the most popular services on Bityard is spot trading, which allows users to buy and sell popular crypto like Bitcoin (BTC), Ether (ETH) and 70+ popular altcoins. Another service that draws users’ attention is Contract for difference (CFD), a trading service which enables users to speculate on the rising or falling prices of fast-moving global financial markets, such as crypto, forex, commodities, and indices. In addition, BitYard also supports rookie investors’ favored service: copy trading. By copying experienced traders’ activities, it is possible for crypto newcomers with limited knowledge to thrive in the market.

To embody the latest trends in digital finance, BitYard plans to release two new features for its users. The first feature is ‘Crypto Grid Trading’, a new trading service that enables users at all levels to conduct automatic investment plan on crypto market, managing crypto holdings, and build strategies with just a few taps/mouse clicks. Another feature is ‘Perpetual Contract’, a type of futures contract that have no expiration date and can make profits by correctly predicting the movement of the asset’s price without actually holding the asset itself. The upcoming features are proofs of BitYard’s devotion to staying at the forefront of digital financial service revolution and its commitment to promoting service innovation to provide its global users with up-to-date trading tools.

With comprehensive crypto and digital derivatives services, BitYard serves as the ideal choice for its users to cultivate their own yard — planting the seed of investment and reaping the reward in the prosperous future. Following the massive brand upgrade, BitYard will be constantly innovating to match the ever-changing needs of its existing customers and prospects around the world, providing them with reliable and holistic financial services.


This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

Goldman Sachs Survey Shows Family Offices Are Flocking to Crypto Investments

Goldman Sachs Survey Shows Family Offices Are Flocking to Crypto Investments

High net-worth families are turning to cryptocurrency investments, according to a recent Goldman Sachs survey that found close to half of the company’s family office clients are inquisitive about crypto-asset investments. A Goldman Sachs executive further said that a large portion of the company’s family office clients are asking about blockchain and cryptocurrency technologies.

Following the SPAC Boom, Family Offices Target Crypto Investments

A recent report from Bloomberg suggests that the ultra-rich families of the world are interested in blockchain and crypto-asset investing. The report stems from the New York-based multinational investment bank and financial services company Goldman Sachs, which conducted a study that polled over 150 family offices.

The findings suggest high net-worth families are turning to crypto because of “higher inflation, prolonged low rates, and other macroeconomic developments following a year of unprecedented global monetary and fiscal stimulus.”

A private wealth management executive for Goldman, Meena Flynn, told Bloomberg that a lion’s share of the families want to discuss “blockchain and digital ledger technology” and alongside this, that family offices believe “this technology is going to be as impactful as the internet has been from an efficiency and productivity perspective.”

Out of the polled respondents who think the macroeconomic developments and higher inflation is an issue, 45% are inquisitive about crypto assets to hedge against these problems.

Crypto Industry Sees an Uptick in Family Office Participation

According to Goldman, 22% of the family offices that responded manage $5 billion, while asset managers with $1 billion to $4.9 billion represented 45% of the polled participants. Furthermore, the Goldman survey shows that out of all polled, 15% of respondents have already invested in cryptocurrency and blockchain products.

While some are curious about investing in cryptocurrencies, Goldman’s survey also noted that some respondents have concerns. One of the biggest concerns being whether or not crypto assets have long-term staying power.

Goldman’s survey also noted that while many of the investors are investing in real estate and equities, a great portion of these family offices are participating in special purpose acquisition company investments, otherwise known as SPACs. Family offices were also very interested in cryptocurrency investments during the bull run of 2017 as well.

This year, Fidelity Investment’s crypto subsidiary Fidelity Digital Assets has seen an uptick in family office participation. Tom Jessop, president of Fidelity Digital Assets, recently explained the company noticed institutional investors and high net-worth offices have accelerated demand for ethereum (ETH).

What do you think about Goldman’s survey showing family offices are interested in crypto investments following the SPAC boom? Let us know what you think about this subject in the comments section below.

John McAfee’s Widow Is Still Extremely Skeptical of Her Husband’s Alleged Suicide

John McAfee's Widow Is Still Extremely Skeptical of Her Husband’s Alleged Suicide

Following a report from John McAfee’s biographer, the former antivirus tycoon’s widow Janice McAfee has taken to social media to disclose a number of findings. During the first week of July, McAfee published a note that said there was “no sense of urgency” toward the investigation into John’s death by Spanish authorities. A week later, Janice McAfee shared the alleged suicide note “found in John’s pocket” and she believes it “does not sound anything like someone who has no hope and is contemplating ending their life.”

Janice McAfee Questions Suicide Narrative

Janice McAfee, the widow of the famous software mogul John McAfee, is very skeptical of her husband’s ostensible suicide. She has published a series of tweets that suggest she doesn’t believe the suicide story and the last time she spoke with John was on “June 23rd … at 11:30 am.”

“He was found sometime after 6pm,” John’s widow said. “That means he had more than five hours to write the alleged suicide note [and] they want us to believe that note was the best he could come up with? I’m not buying it,” she added.

John McAfee was found dead in a Spanish prison cell and allegedly hanged himself after the Spanish court approved extradition requests from the United States. Following his death, a dead man’s switch theory started to surface and his mysterious ERC20 token called “Whackd” climbed over 700% in value.

Then reports also said that John may have been hiding out in a secret bitcoin mining facility called the “Ghost Hotel.” Janice had spoken out against the suicide theories right away and told the press that she did not accept the mainstream media’s narrative.

Janice McAfee: ‘It Wasn’t John’s First Time Being Without Money’

Following the report from McAfee’s biographer, who claimed the software mogul was broke after his wealth peaked at $100 million in 2007, his widow said on Twitter that it was “hardly news.” Janice further explained that after he left the antivirus company in 1994 he “was not involved with the company for over thirty years.”

She noted that the 2008 financial crisis helped deplete his funds and revealed that John actually did have 47 children. His widow stressed that all of them were cared for financially. Janice also highlighted that a lot of McAfee’s wealth was spent on lawyers to fight “countless lawsuits.”

Moreover, individuals looked at John in a parasitic way and “all they could see [in John] was a dollar sign and an opportunity to make a quick buck.” On July 21, John’s widow took to Twitter once again and described how he kept a few notebooks in jail. She said that over half of the notebooks’ pages were removed. Janice said:

Only four of John’s personal writings were part of his belongings given to me from the prison. The notebooks I did receive had more than half the pages ripped out. It wouldn’t surprise me if more notes began surfacing to further push the suicide narrative. #JusticeForJohnMcAfee

In another tweet, Janice explained that after three weeks of waiting, the family finally received the police report regarding the events surrounding John’s death. “Once the lawyers and myself have had a chance to go over them I will share with you all what I can,” she said on Twitter. Furthermore, Janice talked about the reports of him being broke after his death and she emphasized that it “was not John’s first time being without money.”

“He was not suicidal because of it. Actually it was quite the opposite. He never felt more free,” Janice explained.

What do you think about Janice McAfee’s disbelief in her husband’s alleged suicide? Let us know what you think about this subject in the comments section below.

South Korean Regulators Warn Dozens of Foreign Exchanges to Comply With New Rules

South Korean Regulators Warn Dozens of Foreign Exchanges to Comply With New Rules

Overseas crypto exchanges marketing to Koreans will be blocked if they fail to comply with new South Korean regulations. The country’s anti-money laundering body has sent a notice to a number of foreign trading platforms warning them a registration is mandatory in order to provide services to Korean residents.

Korean Financial Intelligence Unit Notifies Foreign Crypto Exchanges of Registration Obligations

Access to foreign-based cryptocurrency exchanges can be denied and the platforms may face criminal investigations in South Korea if they don’t comply with the country’s new regulations for the sector. One of the key requirements is to register with the Korean anti-money laundering agency, the Financial Intelligence Unit (FIU), by Sept. 24.

To remind them of their obligations, FIU has sent out a notice to 27 entities with crypto trading operations targeting Korean nationals, the Financial Services Commission (FSC) announced Thursday, quoted by the Korea Herald. The regulations adopted earlier this year also require exchanges to have information security certificates, but none of them has obtained one yet, officials said.

The commission emphasized that foreign exchanges shall cease business operations in Korea as of Sept. 25 unless they register with the FIU. Unregistered activities will lead to penalties, including up to five years of imprisonment and a fine that can reach 50 million Korean won (over $43,000). In a statement sent to the parliamentary National Policy Committee, the FSC elaborated:

Business activities carried out by overseas cryptocurrency exchanges targeting local customers without reporting to the Financial Intelligence Unit — an anti-money laundering unit under the Financial Services Commission — are illegal under the revised Act on Reporting and Using Specified Financial Transaction Information.

Compliance Deadline Approaching With Few Exchanges Meeting New Requirements

South Korea’s revised Special Funds Act took effect on March 25 but will be enforced in September after a six-month grace period. Another of its updated provisions requires cryptocurrency exchanges to cooperate with domestic banks on the issuance of real-name accounts for their users. While the country’s top four coin trading platforms — Bithumb, Upbit, Coinone, and Korbit — have secured partnerships with commercial banks, hundreds of smaller exchanges are facing closures.

South Korean Regulators Warn Dozens of Foreign Exchanges to Comply With New Rules

Korean banks fear exposure to money laundering, hacking, fraud, and other crypto-related risks. Under the new rules, they’ll be responsible for assessing a crypto platform’s transparency and the possibility of criminal activity. Requests to be relieved of liability for offenses committed through the crypto exchanges they work with was reportedly rejected by Korean regulators earlier this month.

According to the Korea Herald, the FSC is planning to send guidelines regarding the new regulations to foreign crypto operators providing services in the country. “If overseas cryptocurrency exchanges serve local customers with the won-currency settlement, they must register with the FIU and comply with the government’s guidelines to prevent money laundering,” FSC Chairman Eun Sung-soo told lawmakers last week.

South Korea’s financial regulator is hardening its stance on foreign crypto service providers after authorities in a number of other jurisdictions, including Italy, Lithuania, the U.K., Japan, Germany, and Poland issued warnings against Binance, the world’s leading digital asset trading platform. New regulatory measures regarding the exchange range from temporary suspension of operations to stricter reporting requirements, the Korean daily notes, revealing a growing global crackdown on the market.

What’s your opinion about the new South Korean regulations for cryptocurrency exchanges? Share your thoughts on the subject in the comments section below.

SEC Chairman Outlines Regulation of Crypto Assets Relating to Security-Based Swaps

SEC Chairman Outlines Regulation of Crypto Assets Relating to Security-Based Swaps

The chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, has clarified how cryptocurrencies falling under security-based swaps are regulated. He affirmed that platforms operating in the centralized or decentralized finance space are implicated by the securities laws.

SEC’s Regulatory Approach to Cryptocurrency

SEC Chairman Gary Gensler talked about cryptocurrency regulation Wednesday before the American Bar Association Derivatives and Futures Law Committee Virtual Mid-Year Program.

After discussing various topics, including security-based swaps, credit default swaps, and registration of their dealers and participants, he proceeded to talk about cryptocurrency.

“I’d briefly like to discuss the intersection of security-based swaps and financial technology, including with respect to crypto assets,” he said. “There are initiatives by a number of platforms to offer crypto tokens or other products that are priced off of the value of securities and operate like derivatives.” The SEC chairman emphasized:

Make no mistake: It doesn’t matter whether it’s a stock token, a stable value token backed by securities, or any other virtual product that provides synthetic exposure to underlying securities. These platforms — whether in the decentralized or centralized finance space — are implicated by the securities laws and must work within our securities regime.

He continued: “If these products are security-based swaps, the other rules I’ve mentioned earlier, such as the trade reporting rules, will apply to them. Then, any offer or sale to retail participants must be registered under the Securities Act of 1933 and effected on a national securities exchange.”

Gensler further noted:

We’ve brought some cases involving retail offerings of security-based swaps; unfortunately, there may be more. We will continue to use all of the tools in our enforcement toolkit to ensure that investors are protected in cases like these.

The SEC has taken about 75 enforcement actions against individuals and companies in the crypto industry so far. However, Gensler said more companies are in violation of securities laws.

Gensler previously emphasized the need to regulate cryptocurrency exchanges. He even urged Congress to step in and pass legislation to protect investors. However, the SEC left bitcoin and cryptocurrency off its regulatory agenda for 2021.

Early this month, U.S. Senator Elizabeth Warren asked the SEC to use its full authority to address the risks associated with crypto assets. She gave Gensler until July 28 to provide answers on the SEC’s authority to protect consumers investing and trading in cryptocurrencies, and determine what future congressional action was needed.

What do you think about Gary Gensler’s comments? Let us know in the comments section below.

Elon Musk Reveals Spacex Owns Bitcoin, He Personally Owns BTC, Ethereum, Dogecoin — ‘I Might Pump but I Don’t Dump’

Elon Musk Reveals Spacex Owns Bitcoin, He Personally Owns BTC, Ethereum, Dogecoin — 'I Might Pump but I Don't Dump'

Spacex and Tesla CEO Elon Musk has revealed that he personally owns bitcoin, ethereum, and dogecoin. Meanwhile, his companies, Spacex and Tesla, own bitcoin. He also said that bitcoin’s energy usage “is shifting a lot more toward renewables,” and Tesla will likely resume accepting the cryptocurrency after he does more due diligence.

Elon’s Cryptocurrencies: Bitcoin, Ethereum, Dogecoin

The Bitcoin event “B Word,” which took place Wednesday, featured a live discussion with Tesla and SpaceX CEO Elon musk, Square and Twitter CEO Jack Dorsey, and Ark Invest CEO Cathie Wood. The discussion was moderated by Steve Lee, head of Square Crypto.

Responding to the question of what influenced his view on bitcoin, Musk began by outlining the benefits of the cryptocurrency. Tesla’s Technoking, who wore an evolution of money t-shirt during the live discussion, then said, “It’s got a lot of potential.”

Emphasizing, “I’m not an investor,” Musk said that the only significant publicly traded stocks he owns are the Tesla and Spacex stocks. He continued:

Apart from that, I do own bitcoin. Tesla owns bitcoin. Spacex owns bitcoin … And I personally own a bit of ethereum and dogecoin.

Musk affirmed, “In general, I am a supporter of bitcoin,” emphasizing, “The bitcoin I own is worth a lot more than ethereum or doge.”

Indicating that he doesn’t believe in selling after helping to boost prices, he opined:

If the price of bitcoin goes down, I lose money … I might pump but I don’t dump … I would like to see bitcoin succeed.

Turning to the subject of Tesla halting acceptance of bitcoin, Musk explained that the suspension was temporary. He confirmed: “We are not selling any bitcoin, nor am I selling it personally, nor is Spacex selling any bitcoin.”

Regarding Bitcoin’s energy usage, Musk conceded: “It looks like Bitcoin is shifting a lot more toward renewables and a bunch of the heavy-duty coal plants that were being used … have been shut down, especially in China.”

He added, “I want to do a little more due diligence to confirm that the percentage of renewable energy usage is most likely at or above 50% and that there is a trend toward increasing that number,” elaborating:

If so, Tesla will most likely resume accepting bitcoin.

What do you think about Elon Musk’s comments? Let us know in the comments section below.

Bitcoin of America Earns 2021 Great Place to Work Certification

Bitcoin of America Earns 2021 Great Place to Work Certification

PRESS RELEASE. Bitcoin of America is one of the fastest growing BTM operators worldwide. GreatPlaceToWork.com recently certified the Illinois-based Bitcoin of America as an elite company to work for. A whopping 92 percent of BoA’s employees reported that they feel free to take time off from work, when necessary, while another 88 percent claim to have the necessary resources and equipment to do their jobs. Employees routinely cited “opportunities,” “teamwork,” “diversity” and “experience” as some of the strongest selling points of working at Bitcoin of America.

To put those numbers into perspective, only 59 percent of employees at typical American companies consider their place of employment to be “a great place to work.” Bitcoin of America, which is registered as a money services business with the United States Department of Treasury (FinCEN)(RegNum), instead offers its employees a vastly different experience, according to the annual survey.

There’s a very good reason why employees often mentioned “diversity” as one of the major reasons why Bitcoin of America should be classified as “a great place to work.” The company employees three female executives — COO Samantha Miller, Director of Marketing/Head of Tablet Sales Jenna Polinsky and Director of Business Development Alice Gorodetsky— among its leadership team. That is a rarity in the mostly male worlds of technology and cryptocurrency — something that Miller, Gorodetsky, and Polinsky were reminded of recently while representing BoA at Bitcoin international conferences in Miami and Las Vegas.

Bitcoin of America’s employee excitement is one of the reasons that it has quickly evolved into one of the nation’s leading Bitcoin ATM vendors. In a matter of four years, Bitcoin of America has expanded from one Bitcoin ATM in Chicago (Machine No. 109 in the world at the time) to more than 1,500 plus ATMs and wireless locations across 31 U.S. states and the District of Columbia.

 


This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

Kenyan Remittances Surged by 20% in H1, North America and Europe-Based Diaspora Contribute Over 80%

According to the latest data from the Central Bank of Kenya (CBK), diaspora remittances inflows to the country surged to $1.75 billion in the first six months of 2021. This figure represents a nearly 20% increase from the $1.46 billion recorded in the same period last year.

2021 Inflows Set to Surpass 2020 Total

At this growth rate, Kenya’s 2021 remittances inflows appear on course to surpass the 2020 total of just over $3 billion. However, the data shows that on a monthly basis, the inflows dropped slightly from the $315 million recorded in the fifth month to almost $306 million. This drop from what is so far the highest monthly total is the only time the diaspora inflows have tapered off in 2021.

In the meantime, the latest data shows that North America has now cemented its position as the key source of remittances for the East African country. For instance, in the first month of 2020, the North American diaspora’s share of total remittances was about 48% or approximately $125 million out of a total of $259 million.

North America Diaspora Dominates Inflows

However, in the record-breaking fifth month of the year 2021, North America’s share increased to about 60%. In fact, in the sixth month, North America’s share of total remittances increased slightly to 61.9%. This increase is despite the fact that total inflows had dropped marginally in that month.

Similarly, the European market, which accounted for 17.8% of total remittances in the first month of 2020, saw its contribution marginally increase to 21.7% in the fifth month. However, unlike North America whose share of total remittances increased in the sixth month, Europe’s share dropped to 20.5%.

As the official CBK data suggests, the Kenyan diaspora in North America and Europe is becoming a key foreign exchange source for the country. However, this diaspora contribution — which appears to exclude informal remittances — is likely to increase if authorities formally endorse remittances via crypto platforms.

What are your thoughts on Kenya’s growing remittance inflows from North America and Europe? Tell us what you think in the comments section below.