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| August 19, 2018

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The Daily: Robinhood Reaches Iowa and Georgia, Coinbase Returns to Wyoming

August 7, 2018 |

The Daily: Coinbase Returns to Wyoming, Robinhood Crypto Reaches Iowa and Georgia

In today’s edition of Bitcoin in Brief, we cover the return of Coinbase to Wyoming, the expansion of Robinhood Crypto to Iowa and Georgia, a lawsuit against an exchange for failing to give a user his BCH plus a cybersecurity research that finds cryptocurrency exchanges experienced a massive surge of user data leaks.

Also Read: Indian Exchange Zebpay Enables Trueusd (TUSD) Stablecoin Trading

Coinbase Returns to Wyoming

The Daily: Coinbase Returns to Wyoming, Robinhood Crypto Reaches Iowa and GeorgiaCoinbase has announced that its money transmitter license has been renewed in the state of Wyoming. That means that after about three years of absence, locals can once again use the platform to buy, sell and spend supported cryptocurrencies. Wyoming passed a number of laws meant to make the state more attractive to Bitcoin business this year, including exempting cryptocurrencies from property taxation.

Mike Lempres, Chief Legal & Compliance Officer, stated: “Regulators and legislators can work together to foster innovation by either licensing cryptocurrency money transmissions or exempting cryptocurrency from money transmission laws. The leadership and partnership between the state legislature and Governor Matt Meade allowed for this new legislation to be signed into law, under which cryptocurrency companies in Wyoming are no longer required to double reserve the assets of state residents. Now Coinbase and other compliant, regulated cryptocurrency companies can serve Wyoming customers in the same way we serve customers from nearly every other state.”

Robinhood Crypto Reaches Iowa and Georgia

The Daily: Coinbase Returns to Wyoming, Robinhood Crypto Reaches Iowa and GeorgiaRobinhood Financial, the Palo Alto-headquartered US stocks brokerage app, has added another two locations where cryptocurrency trading is now supported for its clients. The company officially announced on its Twitter page that the service is rolling out to Iowa and Georgia. The app now supports Ethereum Classic (ETC), in addition to its previous offering of BTC, BCH, ETH, LTC and Doge. In total, Robinhood Crypto is now available in 19 US states, including Arizona, California, Colorado, Florida, Georgia, Indiana, Iowa, Massachusetts, Michigan, Mississippi, Missouri, Montana, New Jersey, New Mexico, Pennsylvania, Texas, Utah, Virginia and Wisconsin.

Chinese User Sues Okcoin

According to media reports from China, a user of Okcoin named Feng Bin is suing the exchange over some missing bitcoin cash. The client claims he had to receive about 38.75 BCH following the fork due to his holdings before the event which just recently marked its one year anniversary. The Chinese investor alleges that when he contacted the Okcoin team to help recover his BCH he was told by support staff that the deadline the exchange set for doing so had expired and he was no longer eligible due to that reason.

‘Leaky’ Cryptocurrency Exchanges

Group-IB, a Moscow-based cybersecurity firm, has issued a report about user data leaks from cryptocurrency exchanges. The researchers analyzed the theft of 720 user accounts (logins and passwords) from the 19 largest exchanges during 2017, and found a steady increase in the number of compromised user accounts. In 2017, it increased by 369% compared to 2016. And in January 2018, the number of incidents jumped by 689% compared to the 2017 monthly average. The US, Russia and China are where users are targeted most often.

The study identified 50 active botnets used for launching cyberattacks on users of cryptocurrency exchanges. The researchers found that cybercriminals employ sophisticated malicious software and even modified tools previously used for attacks on banks to hack cryptocurrency exchanges and gain access to users’ personal data. However, the main culprit is that both users and exchanges fail to use two-factor authentication. The second cause is disregard for basic cybersecurity rules such as using weak and repetitive passwords.

The Daily: Coinbase Returns to Wyoming, Robinhood Crypto Reaches Iowa and Georgia

“In 2018, we will see even more incidents. This situation requires prompt and effective response of all stakeholders, including experts in different areas,” stated Ruslan Yusufov, Director of Special Projects at Group-IB.

What do you think about today’s news tidbits? Share your thoughts in the comments section below.


Images courtesy of Shutterstock, Group-IB.


Verify and track bitcoin cash transactions on our BCH Block Explorer, the best of its kind anywhere in the world. Also, keep up with your holdings, BCH and other coins, on our market charts at Satoshi’s Pulse, another original and free service from Bitcoin.com.

The post The Daily: Robinhood Reaches Iowa and Georgia, Coinbase Returns to Wyoming appeared first on Bitcoin News.

Bitcoin News

Georgia rape suspect caught after high-speed chase ends in crash, police say

July 30, 2018 |

A rape and kidnapping suspect has been arrested after forcing officers on a high-speed chase during which he crashed into an innocent driver, Georgia police say.
FOX News

Georgia Lawmaker Is First to Resign Over Who Is America?

July 25, 2018 |

After an initial refusal to resign, Georgia state Rep. Jason Spencer is doing just that. The Republican who pulled down his pants and yelled racial slurs during what he believed to be anti-terrorism training with an Israeli military expert on the latest episode of Sacha Baron Cohen’s Who Is America?…
Newser

Kemp Thanks Trump After Surge to Victory in Georgia

July 25, 2018 |

With a damning secret recording of his opponent and a late endorsement from President Trump’s White House, Secretary of State Brian Kemp won a decisive victory Tuesday in the Republican runoff for Georgia governor. A self-described “unapologetic conservative” whose campaign ran an eyebrow-raising ad that said he could use his…
Newser

Racist Text Sparks Outrage on Georgia Campus

July 23, 2018 |

A white Georgia college student is blaming spellcheck for a racist slur she accidently sent via text message to her new roommate. “Her insta looks pretty normal not too n—–ish,” the white Georgia Southern University student texted after the two exchanged pleasantries, in a text about the new roommate actually…
Newser

Teen Survives Nearly 10-Hour Ordeal Off Georgia Coast

July 13, 2018 |

A teen on vacation in Georgia was swept away by a riptide and managed to survive for a remarkable 10 hours in the ocean. Blake Spataro credits his faith and his dogged will to stay alive before he was finally able to make it to shore. “I wanted to live….
Newser

Two teens held in shooting death of 12-year-old Georgia girl

June 8, 2018 |

Two teenage boys, ages 13 and 14, have been arrested in connection with the shooting death of a 12-year-old girl, police in Clayton County, Ga., said Thursday.
FOX News

TMZ

T.I. Arrested in Georgia for Public Drunkenness

May 16, 2018 |

T.I. got busted at his own gated community in Georgia after he got into it with a security guard for the neighborhood. According to local reports, the rapper was trying to get to his house Wednesday morning — around 4 AM — but didn’t have his…

TMZ.com

Sean Hannity Under Fire for Evictions at Georgia Complex

April 28, 2018 |

The number of eviction orders in an apartment complex owned by Sean Hannity rose 400% after the Fox News host purchased the property for $ 8 million nearly four years ago, reports the Guardian . After Hannity took over the 152-unit Hampton Place apartment complex in Perry, Georgia, property managers received approval…
Newser

Bitcoin ATM Installed in Georgia Amid Growing Interest in Crypto

March 30, 2018 |

Bitcoin ATM Installed in Georgia amid Growing Interest in Crypto

A new automated teller machine now offers Georgians a fast and easy way to buy and sell bitcoin and litecoin. Support for bitcoin cash has been promised, and other cryptos will also be added in the future. The ATM has been set up at a burger restaurant in the heart of the Georgian capital Tbilisi.

Also read: Crypto Business Is Now Legal in Belarus

Bitcoins and Burgers

Cryptocurrencies in Georgia have been gaining popularity in recent years. The country has become a regional leader in the adoption of bitcoin and blockchain technologies. A new cryptocurrency terminal has been set up in Tbilisi offering the opportunity to exchange bitcoins and litecoins with the Georgian lari. The company behind the initiative promises to provide support for bitcoin cash and plans to introduce other cryptos, like ethereum.

Bitcoin ATM Installed in Georgia amid Growing Interest in CryptoThe new BATM has been installed at the New York Burger restaurant between Tkvarcheli Street and Merab Kostava Street in the Georgian capital, not far from the 26 May Square. It is operated by a local firm called TPS. The company provides exchange services through cash terminals and an online trading platform.

According to Coinatmradar, another crypto ATM, which also supports bitcoin and litecoin transactions, can be found on 12 Shalva Dadiani Street in Tbilisi. Both teller machines are manufactured by the Prague-based company General Bytes.

Bitcoin ATM Installed in Georgia amid Growing Interest in Crypto

More and more people in the Caucasus believe cryptocurrencies are the future of money. According to Giorgi Cheishvili, programmer at TPS, the popularity of digital coins is growing every day, and the Georgian market reflects the global trends.

“Many people want to exchange their cryptos and a growing number of Georgians are interested in buying cryptocurrency,” he told the local news outlet Marketer. In his opinion, Georgia is a leading country when it comes to opportunities to obtain bitcoin and the like.

“Many are interested in crypto innovation and business,” noted Anthony Sollimon, manager of the New York Burger restaurant. “We want to create a convenient environment where they will be able to make the necessary transactions,” he added.

A Regional Crypto Leader

Bitcoin ATM Installed in Georgia amid Growing Interest in CryptoGeorgia is considered a pioneer in crypto legalization among countries in the South Caucasus. In the last several years, it has implemented blockchain technologies, both in the private and the public sector. Since 2016, the country’s land register has been maintained on a blockchain. Georgia is also home to one of the first bitcoin mining farms in the region.

Special courses are currently offered in Tbilisi for those who want to expand their knowledge of cryptocurrencies. Members of the Georgian crypto community have invited experts from EU countries to take part in the educational program.

Georgia’s neighbor Armenia has been trying to catch up in recent months. A bill to regulate cryptocurrency mining was introduced in Yerevan in February, as reported by news.Bitcoin.com. The proposed legislation offers crypto miners tax exemptions and other incentives. Operators of mining facilities will not be required to apply for any permissions or licenses. According to local experts, the draft law will effectively legalize cryptocurrency transactions.

Do you think the availability of bitcoin ATMs helps the adoption of cryptocurrencies? Share your thoughts in the comments section below.   


Images courtesy of Shutterstock, Coinatmradar, Google Maps.


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The post Bitcoin ATM Installed in Georgia Amid Growing Interest in Crypto appeared first on Bitcoin News.

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