Crypto

Coinme and Coinstar Expand Bitcoin Kiosk Service | Bitcoin Magazine

Coinme and Coinstar Expand Bitcoin Kiosk Service More crypto users can now walk into their local grocery store and purchase cryptocurrencies, thanks to the expansion of a partnership between Bitcoin ATM operator Coinme and coin-cashing machine purveyor Coinstar. The expansion, announced in a press release, means that bitcoin will be available for purchase at over 2,200 locations in 21 states ...

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Dutch Authorities Shut Down Bestmixer | Bitcoin Magazine

Dutch Authorities Shut Down Bestmixer The Dutch Financial Intelligence and Investigation Service (FIOD) has shut down cryptomixing site Bestmixer.io. According to local media, Dutch authorities moved to shut down the site on May 22, 2019, as part of a joint operation with police agencies from several European nations, including France, Latvia and Luxembourg. Following concerns originally raised by the online ...

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7,000 BTC Lost in Hangzhou Scam | Bitcoin Magazine

7,000 BTC Lost in Hangzhou Scam This article was originally published by 8btc and written by Vincent He. Nearly 100 victims from various parts of China have reported to the Hangzhou police bureau, claiming that they were deceived by two young men, named Zhou Yi and Li Xiang, who allegedly stole nearly 7,000 bitcoin through exchanging or borrowing. According to ...

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Australian Civil Servant Caught Mining Crypto With Government Hardware | Bitcoin Magazine

Australian Civil Servant Caught Mining Crypto With Government Hardware The Australian Federal Police (AFP) has charged a government employee alleged to have misused government IT infrastructure for personal cryptomining operations, per a press release. In the release, the AFP states that the unnamed 33-year-old man is an IT contractor with the Australian government, who took advantage of his access to ...

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Tether Partly Backed by Bitcoin, Court Transcription Reveals | Bitcoin Magazine

Tether Partly Backed by Bitcoin, Court Transcription Reveals Tether, a stablecoin tied to the dollar that is meant to mediate the volatility of other cryptocurrencies, is partly backed by bitcoin. As detailed in court documents obtained by The Block, Tether admitted to using some of the cash reserves meant to back its stablecoin to purchase bitcoin, among other assets. This ...

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Op Ed: Lightning Network Consensus Is a Marketplace and That’s Okay! | Bitcoin Magazine

Op Ed: Lightning Network Consensus Is a Marketplace and That’s Okay! To Bitcoin or Not to Bitcoin During the “scaling debate” before the SegWit2X user-activated soft fork (UASF), Bitcoin businesses were getting their first bitter taste of Bitcoin’s censorship resistance. They wanted change to be easier. They wanted their influence to be effective. They wanted to take shortcuts. Unfortunately for ...

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Dutch Man Arrested for $111 Million Fake Mining Scheme | Bitcoin Magazine

Dutch Man Arrested for $111 Million Fake Mining Scheme On March 21, 2019, Dutch news outlet NL Times reported that “Berry van M.,” a 33-year-old Dutch businessman and the operator of now-defunct trading platform Koinz Trading, has been arrested on charges of deceiving investors with a bogus bitcoin mining scheme. The report claims that van M. was the director of ...

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IRS Commissioner Makes Crypto Tax Clarity a Priority | Bitcoin Magazine

IRS Commissioner Makes Crypto Tax Clarity a Priority The U.S. Internal Revenue Service (IRS) is planning to overhaul its methods for determining the federal taxes due on cryptocurrency payments to improve clarity for taxpayers. The decision stems from the recent attempt by Minnesota Representative Tom Emmer to pass legislation reforming the way that hard forks and the resultant “forkcoins” are ...

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Bitcoin OTM in Beijing Lasted Less Than a Week Under Regulatory Pressure | Bitcoin Magazine

Bitcoin OTM in Beijing Lasted Less Than a Week Under Regulatory Pressure This article was originally published by 8btc and written by Lylian Teng. Bitcoin ATM services in China have once again proved to be hopeless, after the first Bitcoin OTM (OTC Teller Machine) in Beijing was removed shortly after its installation. As Bitcoin ATMs are gaining traction throughout the ...

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Bitcoin Businesses Push Back Against Proposed Canadian Crypto… | Bitcoin Magazine

Bitcoin Businesses Push Back Against Proposed Canadian Crypto Regulatory Framework On May 16, 2019, San Francisco-based crypto exchange Kraken posted on Twitter a summary of its response to the Canadian Securities Administrators (CSA) “Proposed Framework for Crypto-Asset Trading Platforms”: “Kraken strongly recommends against Canada imposing a security law framework on cryptocurrency exchanges in public response to the Proposed Framework for ...

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