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Taiwan’s Financial Regulator to Conduct Limited Oversight of Cryptocurrencies

June 23, 2018 |

The Financial Supervisory Commission of Taiwan has indicated its intentions to maintain only a limited oversight of cryptocurrencies. The regulator said it’s going to focus mainly on the enforcement of anti-money laundering policies, while remaining open towards innovations like those coming from the crypto sector.

The Financial Supervisory Commission of Taiwan has indicated its intentions to maintain only a limited oversight of cryptocurrencies. The regulator said it’s going to focus mainly on the enforcement of anti-money laundering policies, while remaining open towards innovations like those coming from the crypto sector.

Also read: Bitcoin Businesses Denied Banking Services in Ireland

Not Stifling Innovation

The Financial Supervisory Commission of Taiwan has indicated its intentions to maintain only a limited oversight of cryptocurrencies. The regulator said it’s going to focus mainly on the enforcement of anti-money laundering policies, while remaining open towards innovations like those coming from the crypto sector.With the executive power in Taipei still mulling over new regulations for cryptocurrencies and initial coin offerings (ICOs), representatives of Taiwan’s financial regulator indicated their unwillingness to slow down progress in the fintech industry. The Financial Supervisory Commission (FSC) will mainly focus on one of its core duties – overseeing the enforcement of anti-money laundering policies, and will continue to welcome innovations that come with digital currencies.

During a press conference on Thursday, Banking Bureau Deputy Director Sherri Chuang said the FSC prefers to monitor developments and avoid stifling early-stage growth. Quoted by The Taipei Times, she emphasized:

The commission maintains an open stance and welcomes all industry innovations.

Chuang also noted that cryptocurrencies, and the tokens issued through ICOs, which are classified as commodities at this stage, do not currently fall under the commission’s jurisdiction. The regulator is only involved in preventing money laundering through virtual assets, the official reiterated before the media. Sherri Chuang compared the situation with that of the lease finance companies, where the involvement of the regulator is also limited to money laundering prevention.

The Financial Supervisory Commission of Taiwan has indicated its intentions to maintain only a limited oversight of cryptocurrencies. The regulator said it’s going to focus mainly on the enforcement of anti-money laundering policies, while remaining open towards innovations like those coming from the crypto sector.According to another representative of the commission, Securities and Futures Bureau Chief Secretary Chien Hung-ming, ICOs do not cross any regulatory red lines in Taiwan. He explained that each coin offering would be assessed on a case-by-case basis, noting that regulators are primarily concerned with examining the fundraising prospects of the respective token sale.

The FSC will assess each issuance to determine if the digital coin should be classified as a security or a virtual commodity, Chien added. “It is very difficult to define broadly, as each case is different,” the FSC official pointed out.

Not Following China

The Executive Yuan, or the Taiwanese government, has yet to develop and adopt comprehensive regulations for cryptocurrencies and initial coin offerings. In April, high-ranking officials indicated that the respective legislative framework should be developed and introduced by November, 2018, as news.Bitcoin.com reported.

According to a statement by Taiwan’s Justice Minister, Qiu Taisan, the government intends to task the FSC with developing the regulatory system for digital currencies. The Ministry of the Interior, the Investigation Bureau, and the Central Bank of the Republic of China (Taiwan) are expected to assist the commission.

The Financial Supervisory Commission of Taiwan has indicated its intentions to maintain only a limited oversight of cryptocurrencies. The regulator said it’s going to focus mainly on the enforcement of anti-money laundering policies, while remaining open towards innovations like those coming from the crypto sector.

Although cryptocurrencies like bitcoin have been increasingly mentioned as a subject of concern, mainly in the light of money laundering, Taiwan is not likely to severely restrict them. Last year the chairman of the FSC, Wellington Koo, confirmed that the country would not adopt a prohibitive regulatory framework like the one implemented in China.

Earlier in April, Taiwan’s Central Bank signaled it would favor regulating cryptocurrencies under the country’s existing anti-money laundering laws. Its new governor, Yang Chin-long, suggested that the Ministry of Justice should include bitcoin in the scope of ROC’s Money Laundering Control Act.

Do you expect Taiwan to eventually adopt crypto-friendly regulations? Share your thoughts on the subject in the comments section below.  


Images courtesy of Shutterstock.


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Regulator found 20,000 bad accounts at major banks. We still don’t know which ones

June 13, 2018 |

The nation’s top bank regulator told members of Congress on Wednesday that his agency found about 20,000 accounts that may have been opened without customers’ authorization or had other problems during a review of the nation’s largest financial institutions prompted by the Wells Fargo & Co. scandal.


L.A. Times – Business

Regulator to face questions over unauthorized accounts in banking industry

June 13, 2018 |

The nation’s top bank regulator has found evidence that institutions other than Wells Fargo & Co. may have created accounts without customers’ authorization — and a prominent Democrat wants the regulator to name names.

Ohio Sen. Sherrod Brown, the ranking Democrat on the Senate banking committee,…


L.A. Times – Business

Wells Fargo not the only bank to have created unauthorized accounts — but regulator won’t identify others

June 9, 2018 |

A federal bank regulator that has fined Wells Fargo more than $ 500 million over its creation of unauthorized accounts and other consumer abuses has found evidence of sales practice problems at other large and midsize banks — but is refusing to name those institutions.

The Office of the Comptroller…


L.A. Times – Business

Canadian Regulator Warns Investors of Five Cryptocurrency Firms

May 22, 2018 |

Canadian Regulator Warns Investors of Five Cryptocurrency Firms

The Ontario Securities Commission has issued a warning against five unlicensed crypto companies involved in schemes to encourage investors to trade or invest in cryptocurrencies. The regulator started gathering information about these platforms after receiving complaints about them.

Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space

Warning to Investors

The Ontario Securities Commission (OSC) published an Investor Alert on Friday, warning the public of five firms that “appear to be involved in schemes that target Ontario investors and encourage them to trade or invest in cryptocurrencies,” stating:

Btcreal, Bitserial, Hypercube Ventures LP, Cabincoin OÜ, and Baappay Inc. are not registered in Ontario to solicit investments or provide advice on investing in, buying or selling securities.

Canadian Regulator Warns Investors of Five Cryptocurrency FirmsThe Commission started gathering information on several crypto trading platforms last month after it received a number of complaints about them, CBC reported, adding that to date no platform has been recognized by the OSC as an exchange or exempted from recognition. Any platform that offers cryptocurrencies that fit the definition of securities “must determine whether it is a marketplace. Marketplaces are required to comply with the rules governing exchanges or alternative trading systems,” the news outlet elaborated.

Last month, the OSC issued an Investor Alert on Bitconnect, Bitconnect Coin and the BCC Exchange. “Bitconnect, the BCC Exchange and representatives of Bitconnect are not registered in Ontario to solicit investments or provide advice on investing in, buying or selling securities,” the regulator wrote.

The Five Unregistered Firms

Canadian Regulator Warns Investors of Five Cryptocurrency FirmsThe first firm mentioned in Friday’s warning is Btcreal. This company “claims to provide full investment services for cryptocurrency-related investments and forex,” promising investors “high returns in short periods of time,” the OSC described. The company’s website advertises “6 high ROI [Return On Investment] plans.”

Canadian Regulator Warns Investors of Five Cryptocurrency FirmsThe next company is Bitserial which “claims to offer opportunities to invest in BTE Tokens.” The firm also “encourages investors to participate in a lending program where they can exchange bitcoin, litecoin, or ethereum for BTE Tokens that are ‘lent out’ for high returns,” the Commission detailed.

The third company is Hypercube Ventures LP which manages multiple websites to encourage investors to buy “emission pools” in order to generate “VNN cryptocurrency,” according to the Commission.

Canadian Regulator Warns Investors of Five Cryptocurrency FirmsThe fourth is Cabincoin OÜ which “is currently advertising an unregistered token sale for Cabincoin Tokens,” claiming that “the future value of these tokens will far exceed their initial price,” the OSC wrote.

The last on the list is Baappay Inc. which “is a multi-layered platform that integrates both fiat and cryptocurrency payment services for merchants, that will confirm and guarantee all payments in seconds,” its website describes. The OSC says this company “is also currently advertising an unregistered token sale.”

What do you think of the OSC’s warning? Let us know in the comments section below.


Images courtesy of Shutterstock, the OSC, Btcreal, Bitserial, and Cabincoin.


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The post Canadian Regulator Warns Investors of Five Cryptocurrency Firms appeared first on Bitcoin News.

Bitcoin News

Spanish Regulator Open to Approving Funds Investing Directly in Cryptocurrencies

May 22, 2018 |

Spanish Regulator Open to Approving Funds Investing Directly in Cryptocurrencies

Spain’s financial regulator has clarified its position on regulated investment funds investing directly in cryptocurrencies. These type of funds are legal under Law 22/2014, and investments can be made through three types of legal entities.

Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space

Funds Directly Investing in Cryptocurrencies

Spanish Regulator Open to Approving Funds Investing Directly in CryptocurrenciesSpain’s National Securities Market Commission (CNMV – Comisión Nacional del Mercado de Valores) recently clarified its position on registered funds investing in cryptocurrencies directly. The CNMV is the Spanish government agency responsible for regulating the securities markets.

In a Questions and Answers document addressed to fintech companies on activities and services that can have a relationship with the Commission, one of the questions was “Can a fund registered by the CNMV directly invest in cryptocurrencies?” The Commission replied:

This type of funds would have a legal place in Law 22/2014, which regulates, in addition to venture capital entities, other collective investment entities of closed type and their management entities.

Law 22/2014 establishes, among others, closed-end collective investment entities (EICC), closed-end investment funds (FICC), and closed-end investment companies (SICC), Iclg describes.

EICC, FICC, or SICC

The CNMV explained that the investments could be made through EICC, FICC, or SICC.

Spanish Regulator Open to Approving Funds Investing Directly in Cryptocurrencies
CNMV building.

For EICC, Article 2.1 of the above law mandates that “the divestment policy of its participants or partners” must meet two requirements. Firstly, the fund’s “disinvestments [must] occur simultaneously for all investors or participants,” the Commission detailed. Secondly, “what is received by each investor or participant is based on the rights that correspond to each one of them, according to the established terms in its bylaws or regulations for each class of shares or participations.”

Both FICC and SICC have their own “numerous requirements and conditions,” the CNMV noted. For example, an FICC registered with the Commission must be “managed by a management company of closed-end type collective investment entities (SGEIC) or by a collective investment institution management company (SGIIC) that is authorized to manage this type of funds.” The Commission also noted that “the FICC and the SICC are not subject to the supervision of the CNMV (except [for] self-managed SICC)” based on the provisions of article 85 of Law 22/2014.

While registered funds can theoretically invest in cryptocurrencies directly, the Commission emphasized that there are many factors to consider, reiterating:

The investment of FICC and SICC in cryptocurrencies raises a series of practical problems on how to comply with the regulations regarding the valuation of assets, the management of liquidity and the custody guarantee.

European Regulation

Europa Press reported earlier this month that the CNMV “will apply [its] securities regulations to cryptocurrencies until there is European regulation.” The news outlet quoted CNMV’s general director of Strategic Policy and International Affairs, Víctor Rodríguez, saying:

The approach adopted by the CNMV is to try to apply the existing securities regulations as long as we do not have an international or European reference standard.

What do you think of the CNMV’s approach to cryptocurrencies? Let us know in the comments section below.


Images courtesy of Shutterstock, CNMV, and Wikipedia.


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The post Spanish Regulator Open to Approving Funds Investing Directly in Cryptocurrencies appeared first on Bitcoin News.

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Coincheck Delists XMR, DASH, ZEC, REP – Prompted by Japanese Regulator

May 19, 2018 |

Coincheck Delists XMR, DASH, ZEC, REP - Prompted by Japanese Regulator

Japanese exchange Coincheck has confirmed that it is delisting three privacy coins: monero, dash, and zcash. Augur’s reputation token will also be delisted next month. The exchange made this decision after receiving a business improvement order from the country’s financial regulator following the NEM hack.

Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space

Coincheck Delisting 4 Cryptocurrencies

Coincheck Delists XMR, DASH, ZEC, REP - Prompted by Japanese RegulatorFollowing reports that Coincheck was going to delist monero (XMR), zcash (ZEC), and dash (DASH), the exchange has now confirmed that those cryptocurrencies will be delisted along with Augur’s reputation token (REP).

The four cryptocurrencies will be delisted on June 18, Coincheck emphasized, adding:

The target currencies [XMR, ZEC, DASH, and REP] held on the discontinued date will be sold at the market price and converted into Japanese yen.

The sales’ proceeds will then be credited to the customers’ accounts. Before that date, customers can sell or transfer these cryptocurrencies. The exchange says it has received many transfer requests, warning that it may be several days to complete the transfers.

Business Improvement Order

Coincheck Delists XMR, DASH, ZEC, REP - Prompted by Japanese RegulatorFollowing the NEM hack in January, Coincheck received a business improvement order from the Japanese Financial Services Agency (FSA) on March 8. The exchange is a “deemed dealer,” meaning it has been allowed to operate while its application is being reviewed by the agency. The exchange has now been acquired by Monex Group. After delisting the above cryptocurrencies, Coincheck will continue to support BTC, ETH, ETC, LSK, FCT, BCH, XRP, XEM, and LTC.

In complying with the FSA order, the exchange says it is “drastically reviewing” its internal control and management control systems, as well as rethinking its “management strategy that thoroughly protects customers,” the announcement reads, adding that:

It is necessary [for us] to further develop and strengthen the management system of AML / CFT [Anti-Money Laundering/ Counter-Terrorist Financing] in the future.

Monex CEO Oki Matsumoto “expects the exchange to secure an official license in Japan next month,” Fortune reported on Friday.

FSA Cracks Down on Privacy Coin Listings

Nikkei reported earlier this month that the FSA has set new criteria for crypto exchanges. One of them concerns the types of cryptocurrencies listed on exchanges. “Those granting a high level of anonymity and easily used for money laundering will as a general rule be banned,” the news outlet described.

The FSA “strongly requests money laundering and counter-terrorist financing measures not only for Coincheck but also for other virtual currency exchange operators,” News24 wrote.

Out of the 16 licensed crypto exchanges in Japan, none have listed XMR, ZEC, DASH, or REP on their applications with the FSA.

What do you think of Coincheck delisting the four cryptocurrencies? Let us know in the comments section below.


Images courtesy of Shutterstock, Nikkei, and Coincheck.


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The post Coincheck Delists XMR, DASH, ZEC, REP – Prompted by Japanese Regulator appeared first on Bitcoin News.

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Bitcoin in Brief Tuesday: NY Regulator Approves Bitcoin Cash, Zcash and Litecoin Trading

May 15, 2018 |

Bitcoin in Brief Tuesday: NY Regulator Approves Bitcoin Cash, Zcash and Litecoin Trading

The slow but steady growth in the limited trading options available to American investors on regulated exchanges is the main focus of today’s edition of Bitcoin in Brief. Additionally covered are a surprise resignation, another ransomware attack, and much more.

Also Read: Steve Eisman of ‘The Big Short’ Fame: What Value Does Cryptocurrency Actually Add?

NYDFS Approves Expanded Crypto Portfolio

New York State Department of Financial Services Superintendent Maria T. Vullo has announced on Monday that Gemini Trust Company LLC has been authorized to offer the custody services and trading of Zcash, Litecoin and Bitcoin Cash on its exchange based in NYC. She said: “This action continues New York’s longstanding commitment to innovation and leadership in the global marketplace. With smart and thorough regulatory oversight, the development and long-term growth of the industry will remain thriving.”

The addition of Zcash especially seems to have taken the market by surprise, leading to its price jumping over 40% in the last twenty-four hours. Back in March, the founders of the trading venue revealed that adding new cryptocurrency options are high on the company’s agenda this year, with BCH and LTC at the top of the list. Tyler Winklevoss, CEO of Gemini, commented on Monday: “We are proud to be the first licensed exchange in the world to offer Zcash trading and custody services and look forward to providing customers with a safe, secure, and regulated place to buy, sell, and store Zcash, an incredible new form of digital cash.”

Surprise CEO Resignation

Okex Rolls Back Futures Contracts After Liquidations Leave Traders ReelingChris Lee, Chief Executive Officer at Chinese-run cryptocurrency exchange Okex, has reportedly left his position with the Hong Kong based company. Lee cited personal reasons for his departure, seeking to “start a new life,” the exchange stated on Monday. According to his spokeswoman, Lee added it had been the “greatest pleasure and an honor” to work at Okex and that he will return to the blockchain community after a short break to spend time with his family. The surprising move raised some speculations online as for the reasons.

$ 1 Million Bitcoin Heist Foiled

According to media reports from the state of Georgia, the Forsyth County Sheriff’s Office found that five young men had conspired to break into a local home and steal nearly $ 1 million in bitcoin. Their robbery investigation has reportedly been ongoing since January, following a drug bust. The five young men, Justin Ellison, Trivette Adams, Matthew Schwartz, Jacob South, and Michael McDermont, have been charged with residential strong arm robbery and are being held in a detention center without bond.

Australian Sexual Health Provider Held for Ransom

Bitcoin in Brief Tuesday: NY Regulator Approves Bitcoin Cash, Zcash and Litecoin TradingFamily Planning New South Wales, one of Australia’s largest reproductive and sexual health service providers, has sent out an email to its clients on Monday notifying them that it reported a cyber attack on its website to Australian Federal Police.

“I want to stress to people that this has absolutely nothing to do with, and has no impact on our clinical medical records, they’ve always been secure,” the organization’s chief executive Ann Brassil said at a press conference on Monday. “There’s no evidence that this cyberattack was on Family Planning NSW itself;…and it appears it was an attack for ransom, so it was financial. The ransom said we are shutting down your website and you pay us $ 15,000 in Bitcoin for us to release the website, and it had a clock ticking down.”

Polish Propaganda

Polish financial authorities have again been found to spend taxpayers’ money on a smear campaign on social media against investing in cryptocurrencies. Poland’s Financial Supervision Authority (KNF) has issued a new tender order to plan and conduct a campaign aimed at “building awareness” among the public for the risks associated with investing in cryptocurrencies, pyramid schemes and forex activities unsupervised by the KNF.

Earlier this year it was reveled that the Central Bank of Poland and KNF had paid over 90,000 PLN (złoty) to, among others, a Polish Youtube content network which represents many popular young local content creators to produce anti-crypto videos.

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


Images courtesy of Shutterstock.


Do you agree with us that Bitcoin is the best invention since sliced bread? Thought so. That’s why we are building this online universe revolving around anything and everything Bitcoin. We have a store. And a forum. And a casino, a pool and real-time price statistics.

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Bitcoin News

South Korean Top Regulator Considers Easing Cryptocurrency Regulations

May 7, 2018 |

South Korean Top Regulator Confirms Easing of Cryptocurrency Regulations

The main regulatory body of cryptocurrencies in South Korea has a new chief who has just been approved by the country’s president. He is a known “activist and reformist” and has reportedly announced that he will consider relaxing crypto regulations to help businesses grow in this sector.

Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space

New FSS Chief to Relax Crypto Regulations

South Korean Top Regulator Confirms Easing of Cryptocurrency RegulationsThe South Korean Financial Supervisory Service (FSS) will have a new governor as of this Tuesday. The country’s President Moon Jae-in has approved the nomination of Yoon Suk-heun to lead the government agency overseeing cryptocurrency regulations after the former FSS head Kim Ki-sik stepped down from the post.

Yoon’s nomination was submitted by the Financial Services Commission (FSC), which the FSS falls under. He will officially start his work as FSS chief on May 8, the Korea Times reported, elaborating:

Governor Yoon Suk-heun said the country’s top financial regulator will consider relaxing cryptocurrency regulations.

He has previously “hinted at a possible adjustment of regulations that have been applied to the cryptocurrency market,” the news outlet noted, adding that Yoon is known as an “activist and reformist.”

Yoon’s Approach to Crypto

Yoon told reporters that “regarding cryptocurrencies, there are some positive aspects,” emphasizing that “there are a lot of issues that need to be addressed and reviewed. We can figure them out but gradually.”

South Korean Top Regulator Confirms Easing of Cryptocurrency Regulations
Yoon Suk-heun.

Clarifying the roles of the FSS and the FSC, he explained that “The FSS will collaborate with the FSC when an inspection on policies and financial institutions has different configurations associated with different scopes. FSC inspects policies, while the FSS examines and supervises financial institutions but with the oversight of the FSC.”

At an industry event on January 31, he expressed his understanding of the government’s position on cryptocurrencies, given their high volatility. However, he was quoted affirming that “the government is saying cryptocurrencies are neither currency nor financial assets…[that] is hard to understand,” adding:

What I think is that exchanges are to function to meet the needs of investors and market participants, broadly…to help them keep trading and making transactions. Any forceful ban against them would hurt the nature of the market.

Yoon also pointed out that “Regulation is good. However, it would be more than just good when it is used to help new businesses grow. Imposing taxes on crypto exchanges and investors needs to be considered, if necessary.”

An official of the largest cryptocurrency exchange in South Korea, Upbit, commented on Yoon’s new role, stating that “What the new FSS chief should think about is how the regulators should provide remedies to help crypto trading and blockchain technology get better.”

Do you think South Korea will ease cryptocurrency regulations? Let us know in the comments section below.


Images courtesy of Shutterstock and Pixabay.


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The post South Korean Top Regulator Considers Easing Cryptocurrency Regulations appeared first on Bitcoin News.

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This Week in Bitcoin: Bacon War, Mining Trucks and Coinbase Salutes Regulator

May 6, 2018 |

This Week in Bitcoin: Bacon War, Mining Trucks and Coinbase Salutes Regulator

From a turf war over “the world’s first” bacon-backed coin to mining trucks chasing cheap electricity across Europe, the cryptocurrency world never has a dull day. These stories and many more were covered in this week’s daily editions of Bitcoin in Brief.

Also Read: Young New Zealand Man Spared Jail for Dealing Drugs With Bitcoin

Outage Downs Telegram, Bitcoin Shines on a Bank

This Week in Bitcoin: Bacon War, Mining Trucks and Coinbase Salutes RegulatorAs the messaging service of choice for many cryptocurrency groups, the problems at Telegram made headlines on Monday. While the company was facing a crackdown in Russia and Iran, this time it was a technical issue in one of Telegram’s data centers after a power outage in Amsterdam that caused interruptions across Europe, the Middle East, North Africa, Russia, and the CIS countries. Additionally covered were a photo which shows a huge Bitcoin logo projected on the Swiss National Bank building in Zurich and major companies’ blockchain developments in South Korea.

IOTA Ditched, Bitcoin Taking Over Popular Culture

On Tuesday we reported that UCL (University College London) cut all its ties with the IOTA Foundation because of its repeated threats against critics that reviewed the technology, that Wikimédia France will soon begin accepting donations in cryptocurrencies, and that someone has created the annoying bitcoin price alarm from HBO’s comedy series Silicon Valley. But the big news was all about bacon.

Oscar Mayer, the meat brand owned by Kraft Heinz (NASDAQ: KHC), announced it had launched the “first-ever cryptocurrency backed by bacon.” Fans were invited to “mine” Bacoin by participating in a promotion and pump the value by shilling for it on social media. The company was soon hit with a cease-and-desist letter by someone claiming he invented a bacon-backed coin with the exact same name back in 2014. Luckily for fans, everything turned out well at the end. Oscar Mayer has offered to make a donation in his name, and to send its famous Wiener-mobile to the guy’s house to give him free bacon and entertain his kids for a while and the case was thus settled.

Hacker Gets Trolled, Vertcoin Gets Hacked

Hackers, a constant pest in the crypto world, have been our focus on Wednesday. Some scammers have taken over the official Vertcoin Twitter account and duped a handful of followers to send them some bitcoin with the false promise of a giveaway. Another scammer tried to blackmail a podcaster into giving him bitcoin by holding his website for ransom but got trolled hard. Additionally covered was Coinmarketcap’s five year anniversary, when the site unveiled  a new logo, an iOS mobile app and added some new features.

Crypto Traders in Troubled Waters

This Week in Bitcoin: Bacon War, Mining Trucks and Coinbase Salutes RegulatorA few unfortunate cases were covered on Thursday. Bitgrail, the Italian crypto exchange which suspended operations after losing 17 million XRB, has briefly reopened and soon closed again under order from the court of Florence. Btcxchange, the oldest bitcoin trading platform in Romania, has apparently closed down for good this time after multiple setbacks through the years. Shapeshift CEO Erik Voorhees lashed out in a tweet against Chase Bank which has closed his credit card account without warning nor an explanation.

In other news, US-based cryptocurrency exchange and wallet Coinbase has applauded the investigation by New York Attorney General into the industry’s business practices. This was in sharp contrast to the strong rebuke by Kraken CEO Jesse Powell which took a brave stand against the American regulatory overreach.

Farms on Wheels, a Hotel, and a Simulator for Miners

On Friday, the latest developments in the mining space were our focus. These included a  “mining hotel” in Moscow, Russia, a Bitmain Zcash ASIC miner, and even mining trucks. Italian inventors plan on installing their miners in shipping containers loaded on trucks, enabling them to rapidly move the mobile farms to destinations with cheap electricity and more favorable regulations. We also reported that a team of Belarusian developers is working on a project to create a “True Mining Simulator” – a computer game dedicated to replicating the life experiences of a cryptocurrency miner.

Russian Crypto-Millionaire Found Dead

The main news on Saturday, other than BTC flirting with the $ 10,000 price level again, was that Russian Youtuber Pavel Makushin had been found dead in his apartment. The 23-year-old was the victim of a robbery in January, which saw 24 million rubles (approximately $ 38,000 USD) stolen from him. Mr. Makushin’s mother was reported to have indicated that the robbery could have led him to take his own life.

This Week in Bitcoin Podcast

To make sure you didn’t miss any big bitcoin news this week, listen to the following podcast:

What other stories everyone in the bitcoin world must have read this week? Share your thoughts in the comments section below. 


Images courtesy of Shutterstock.


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