European Commission Opposes Crypto Fraud Compensation Fund: Victims Say Commission Cozying up to the Industry

The European Commission (EC) is opposing the creation of the crypto crime victim superfund to be financed with $0.0001 per dollar on all cryptocurrency transactions occurring within the EU. The Commission says that it does not have the competence to set up and administer such a fund. It also argues that most crypto crimes occur outside the EU jurisdiction. EC Says It Lacks the Needed Competencies The EC made the remarks in response to a petition lodged with the European Union Parliament (EUP) by a consortium of crypto fraud victims.…

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Hotel Bitcoin ATMs on the Rise With Addition of Swiss Hotel Dolder Grand

The number of hotels with a bitcoin ATM on-site is growing in Switzerland. The latest announcement came from The Dolder Grand, a luxury hotel and spa in Zurich, which recently installed a crypto ATM supporting four cryptocurrencies. Bitcoin ATMs Gaining Popularity in Hotels The Dolder Grand announced Monday that a cryptocurrency ATM has been installed at the hotel for guests to buy and sell cryptocurrencies on-site. The announcement states: As of now, guests of the Zurich Hotel Dolder Grand can buy and sell cryptocurrencies on site – conveniently at the…

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Bitcoin Proponents Bemoan Joe Biden’s Proposed Capital Gains Hike

The U.S. presidential election is only 14 days away, and a number of bitcoin proponents have been discussing the capital gains tax implications Joe Biden plans to invoke if he wins the American presidency. According to Biden’s plan, capital gains will be raised from 21% to 39.6% for certain income brackets. Two weeks ago, the current U.S. president, Donald Trump, floated the idea of cutting long-term capital gains cut down to 15%. In just two weeks, the U.S. may see a new president or it may get another four years…

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The Rush To Own India’s Bitcoin Market Is Back On

While the volume and scale may not be huge by current industry standards, venture capital inflows into Indian Bitcoin companies have been hard not to notice this year. Long considered an obviously ripe market for Bitcoin adoption, the regulatory and banking establishments in India have, at times, hamstrung growth of a local commercial Bitcoin ecosystem, leading to frustration for companies building and gaining traction for their services as well as for outside capital looking to take advantage of a brimming opportunity.   But the main shackles hindering this growth came off…

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Institutions Long and Hedge Funds Short: Bitcoin Options Traders Prep for ‘Big Moves’ Ahead

Trends in bitcoin options markets are making it difficult for financial analysts to pinpoint BTC’s next move. Data from CME’s recently published trader report shows that institutional investors are capturing a larger number of bitcoin long contracts, while hedge funds are showing an all-time high for bitcoin short contracts. On Tuesday, the price of bitcoin (BTC) has been attempting to capture the $12k price zone and a number of people are focused on the crypto assets’ next moves. While a number of crypto traders are extremely bullish some people believe…

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US Financial Watchdog Fines Bitcoin Mixer Service for $60 Million

Larry Dean Harmon, founder and operator of early bitcoin mixing services Helix and Coin Ninja, is being fined $60 million by the U.S. Treasury’s Financial Crimes Enforcement Network (Fincen) for allegedly violating anti-money laundering rules. According to documents published Oct. 19 by Fincen, the fine surrounds the transmission of “at least 356,000 bitcoin transactions through Helix between June 2014 and December 2017” on behalf of criminals using the dark web. Prosecutors allege Harmon was running an unregistered money services business (MSB) in violation of the Banking Secrecy Act (BSA). The…

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Finoa and Dapper Labs Announce Exclusive Partnership To Bring Institutional-Grade Custody To Flow Ecosystem Investors

Berlin, October 20, 2020: Finoa, one of the leading digital asset custody and financial servicing platforms in Europe, and Dapper Labs, the company known for creating CryptoKitties and NBA Top Shot, announces that Finoa has been exclusively selected as one of top custody providers for FLOW and the main one that offers institutional-grade custody. The FLOW token (“FLOW” or “?”) is the native currency for the Flow network and the fuel for a new, inclusive, and borderless digital economy. In addition to institutional-grade custody, investors will also be able to…

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Digital Ruble: Russia Unveils Plans to Test Central Bank Digital Currency

As China is actively testing its digital yuan, Russia is now planning to build and test a central bank digital currency, the digital ruble. Meanwhile, the Bank of Russia has proposed limiting the amount of bitcoin retail investors can buy. Russia’s Central Bank Plans Digital Ruble The central bank of Russia has outlined its plans to conduct an experiment using the digital ruble with a limited number of participants after public consultations, Izvestia publication reported last week. The Bank of Russia announced the development of the digital ruble and public…

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