By CCN Markets: A gang in India’s Madhya Pradesh state which scammed U.S. citizens hundreds of thousands of dollars through Bitcoin and other methods has been busted and its members arrested. The gang which ran its operations out of a call center is estimated to have made around $ 1.7 million. According to the Business Standard, the gang consisted of 78 people who operated out of three call centers. The gang had reportedly obtained the social security numbers of around 100,000 U.S. citizens. They had also obtained cell phone numbers and other identifying information. Per the police, the duties of most
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Aleksandr Lukashenko, the president of Belarus, met with the country’s IT community to discuss the growth of its native tech industry, according to the state-owned national news agency, the Belarusian Telegraph Agency.
The meeting was reportedly set up at the president’s request and he promised government support for Belarusian fintech companies.
Lukashenko also reportedly outlined some of the progress that the government has made with IT development, while also asking participants to suggest ideas that promote growth. Amongst other things, the president is reportedly planning to establish a Bitcoin (BTC) mining farm in the country.
Central bank digital currencies (CBDCs) featured prominently when global financial leaders met for this year’s World Bank Group and International Monetary Fund (IMF) joint Spring Meetings in the United States. Faced with emerging disruptive technologies like Bitcoin, their discussions also focused on how money and payments are taking on new forms throughout the world. There wasn’t any determined conclusion to the debates, but the IMF’s Christine Lagarde admitted that cryptocurrencies have shaken the established global financial order.
Blockchain firm Bitfury will develop a bitcoin mining center in Paraguay. The new mining operation is in partnership with Seoul-based research and development firm Commons Foundation.
The collaboration is backed by the government of Paraguay, whose goal is to make the South American country a cryptocurrency mining hub.
The new center, which is a part of Commons Foundation’s “Golden Goose” project, will help to facilitate the innovation of blockchain technology and cryptocurrencies across Spanish-speaking countries. Bitfury will provide product and technical support for the project.
In today’s edition of The Daily, we feature a couple of stories that show how, despite the current downturn in the cryptocurrency markets, different locations in the U.S. are competing to attract the industry. We also cover a new bitcoin investment trust application with the SEC and a rebranding of a crypto exchange.
NYC to Launch Blockchain Center
The New York City Economic Development Corporation has announced it has selected FuturePerfect Labs and Global Blockchain Business Council Future to launch and operate the NYC Blockchain Center meant to help foster the continued growth of the local industry.
A bitcoin exchange in Singapore reported on January 3 that on New Year’s Day their data center experienced a “fire.” Fears of an exit scam began to mount. According to them, this fire results in 7% of users losing access to their accounts. The events coincided with the first annual Proof of Keys event. BiteBTC.com
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The ongoing bear market has caused another cryptocurrency company to downsize its operations. Bitmain, the Beijing-headquartered bitcoin mining technology giant, has now begun shutting down its research and development center in Ra’anana, Israel.
Bitmaintech Israel Closes Down
According to reports from Israel, Bitmain’s research and development center in the country will be shut down this week. A total of 23 employees are being laid off, and Gadi Glikberg, who headed the Israeli company and served as a VP at Bitmain, will also lose his position.
This is a paid-for submitted press release. CCN does not endorse, nor is responsible for any material included below and isn’t responsible for any damages or losses connected with any products or services mentioned in the press release. CCN urges readers to conduct their own research with due diligence into the company, product or service mentioned
The Great Lakes Science Center (GLSC) is now accepting bitcoin in various transactions.
According to a recent news story from a Cleveland-based newspaper, the local Great Lakes Science Center has announced their adoption of bitcoin in a variety of transactions.
Not only will bitcoin be accepted as a fully valid form of monetary exchange for the daily cost of admission to the museum, but there will also be a four-day sister event, titled the Blockland Solutions Conference, which will accept bitcoin as well.
Despite the fact that the US Securities and Exchange Commission (SEC) has yet to craft a clear regulatory framework for cryptocurrencies, the agency placed a great deal of emphasis on the space this year, particularly on initial coin offerings (ICOs). The SEC’s Division of Enforcement published its fiscal year 2018 annual report, the second one of
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The People Bank of China (PBoC) has accelerated its efforts to promote financial technologies such as blockchain by opening a new research center in Nanjing. The bank’s blockchain front, known as Digital Currency Research Lab, enters the capital city of Eastern Jiangsu Province with a promise to develop finance technologies in partnership with the municipal government.
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A bitcoin fraud scheme has been unearthed in the Mumbai surburb of Mira Road. The scheme involved duping foreigners into parting with their money by informing them that they were behind in tax payments, according to the Hindustan Times. Based on the personal financial information they had obtained from their victims including loan arrears and
The post Busted: Indian Call Center Ring Duped Foreigners into Paying ‘Loan Tax’ in Bitcoin appeared first on CCN
Norwegian bitcoin miner Kryptovault is facing a shutdown of its operations due to extensive noise complaints from locals and a lack of proper paperwork. The company, which is headquartered in a former paper mill in Norway’s capital of Oslo, uses more than 40MW of power to drive an arsenal of nearly 10,000 computers. The staff could mine several million Norwegian kroners’ worth of bitcoin per week, but financial promise isn’t enough to keep residents interested.
“The sound of the factory comes 24 hours a day, 365 days a year,” explains Trond Gulesto, one of the facility’s closest neighbors. “Our summer has been ruined.”
Cryptocurrency industry non-profit research and advocacy organization Coin Center is calling for Congress to enact legislation that will provide bitcoin investors with safe harbor on federal taxes incurred as the result of software forks. Writing in a post published on the Washington, D.C.-based organization’s blog, executive director Jerry Brito argued that cryptocurrency investors who have
The post Coin Center Calls for Congress to Give U.S. Taxpayers Safe Harbor on Bitcoin Hard Forks appeared first on CCN
Tech giant IBM is seeking to its widen blockchain research, development and education efforts through a partnership with Columbia University.
We all indulge in guilty pleasures from time to time. Whether it’s chocolate, alcohol or something completely different, everyone has something that tantalizes their senses. For some people, that “something” is cryptocurrency. Now, a hospital in Scotland is working to help those who have taken their love of crypto a bit too far.
Castle Craig Hospital — Scotland’s largest addiction treatment facility — has developed a center specifically dedicated to help cryptocurrency addicts. Representatives explain that “cryptocurrency users can get hooked by the volatile fluctuation of prices online which creates a ‘high’ when they buy or trade a winning currency” and that “this can be exciting but also addictive and … financially disastrous.”
Bitcoin mining giant and blockchain tech provider Bitfury is branching out to Norway. After meeting with government officials and partnering with local business leaders, the company is opening the doors of its new energy-efficient, data-mining center, in which executives have already invested $ 35 million.
The center is stationed in the Mo Industrial Park in the town of Mo i Rana and is expected to create roughly 30 new jobs for local workers.
CEO Valery Vavilov explained that the country’s innovative spirit and “favorable tax code” made Norway a top pick for Bitfury’s future expansion:
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The founders of ITO CENTER announced the resale of the in-game crypto-currency of Candy Coin, which will be used in the UnicornGO collection game on the Ethereum and Universa platform, and is already available for purchase on the project website at a price of 0.001 ETH for 1 Candy Coin.