It’s a case of police entrapment that goes beyond the pale. After a ruling Wednesday by the U.S. Third District Court of appeals, a Florida man will have to face a trial by jury over felony charges in Miami for selling bitcoin to undercover police. Felony Charges for a Victimless Crime? “Espinoza’s bitcoins-for-cash business requires him to register as a payment instrument seller and money transmitter” under Florida financial statutes, the court ruled Wednesday, adding that he was “not merely selling his own personal bitcoins, he was marketing a business.” Now he’ll face serious felony charges for money laundering as
A Rancho Cordova, California nurse has been charged by federal authorities with selling illegal narcotics via dark net markets. Allegedly, her username Farmacy41 earned over 200 BTC across three markets. Carrie Alaine Markis made an appearance in federal court in Sacramento, charged with numerous counts of drug dealing. Farmacy41 Markis reportedly used the handle Farmacy41 across several DarkNetMarkets beginning in 2013. She told customers that her source was people who bought pills from those who had them legally prescribed to them. In total, she allegedly sold almost 9,000 hydrocodone pills, over 2,500 oxycodone, nearly 1,000 methadone pills, 70 morphine tablets
A group of Amazon shareholders, organized by a non-profit called Open Mic, are demanding that Amazon cease sales of its Rekognition software to government agencies. Open Mic bills itself as “a non-profit that fosters shareholder engagement at leading tech and media companies.” The facial recognition suite has been proven in independent tests to be inaccurate,
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Sweden’s reserve bank has warned that the individuals and firms purporting to sell the electronic version of the national currency, the e-krona, are fraudsters as the digital currency project ‘has not been concluded’. According to Riksbank, ‘no decision has been taken on issuing e-kronas’ and therefore claims to the contrary were false. Riksbank pointed out
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Buying and selling property using cryptocurrency is less straightforward than was first assumed. The handful of mortgage lenders and realtors who were initially keen are now reluctant to accept crypto deposits due to money laundering fears. Until there is greater clarity concerning crypto regulation, due diligence procedures and taxation, potential participants are opting to wait on the sidelines.
The Securities and Exchange Commission (SEC) issued a cease-and-desist order against a crypto investment fund for distributing unregistered securities. The US securities regulator also slapped CoinAlpha Advisors LLC, a Delaware-based blockchain financial products company, with a $ 50,000 fine. According to the SEC order, CoinAlpha declined to register its business, which involved investing in and distribution
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Over the past several days, there has been much debate within cryptocurrency circles about a series of videos and images allegedly showing Chinese crypto mining firms dumping bitcoin miners on the street. BRUTAL: this is what’s happening now in a China based mining site …. 😨😨 pic.twitter.com/gcN4lVTyBt — Dovey Wan 🦖 (@DoveyWan) November 20, 2018
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Overstock’s highly-touted tZero project has been something of a money pit for the company, costing nearly $ 170 million in overall development costs with no live product yet available. Medici Ventures, Overstock’s blockchain investment arm, has acquired additional subsidiaries on the order of several more millions of dollars in an effort to expand its crypto portfolio. The
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Authorities in Bulgaria have clamped down on the shady sale of international passports to foreigners from some parts of Eastern Europe in exchange for bitcoin. Erring citizens of Bulgaria, Ukraine, Moldova, and Macedonia have been allegedly involved in the perpetration of such illegal activities. Officials Arrested The citizenship issuance which was authorized by Bulgarian officials
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Venezuela has authorized six cryptocurrency exchanges to start selling its national cryptocurrency, the petro, according to the government’s website. The petro, which recently became a Venezuelan national currency, can now be purchased at the six exchanges, local media report.
Six Websites Authorized to Sell Petro
The Venezuelan government has authorized six websites it claims are cryptocurrency exchanges to market and sell the petro, the country’s new national currency. Noticiero Digital elaborated:
The petro will be available from this Wednesday, October 17, at six exchanges, although President Maduro announced previously that there would be 16 certified companies that could market the digital currency.
Robinhood, the popular commission-free trading app that launched as a change of pace startup company in the wake of the 2008 financial crisis, has an antithetical underbelly that was just brought to light. According to a report by Bloomberg, Robinhood makes more than 40% of its revenue by selling its user order data to high-frequency […]
Circle Invest announced today the launch of three new collections of index funds for cryptocurrencies. Divya Agarwalla, Senior Vice President at Circle, posted on the company’s blog that the “Buy the Market” feature “…was so successful that over 30% of our users are taking advantage of it. As CCN reported, Circle released this feature in
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A French security official with the Direction Générale de la Sécurité Intérieure (DGSI) was indicted last week and taken into custody on charges of selling state secrets in exchange for payments in bitcoin. According to local French media Le Parisien, the unnamed agent was allegedly arrested for peddling economic information and falsifying administrative documents. Protecting French
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The low-cost Robinhood investing app popular with millennials makes up for the lost profits of commission-free trades by selling users’ data to other financial companies.
What’s the Logic of Robbing Peter to Pay Paul?
A Second Quarter SEC filing shows that Robinhood Financial (Robinhood) is actually making millions of dollars from selling users’ data to high-frequency trading (HFT) firms. Recall, this is the same company that espouses values of ethical trading practices that benefit the common man instead of fleecing customers to provide a quick buck for Wall Street traders.
The Financial Industry Regulatory Authority (FINRA) has issued its first cryptocurrency-related disciplinary action, charging Timothy Tilton Ayre, a broker in Agawam, MA., with securities fraud and the unlawful distribution of HempCoin, which the agency claims is an unregistered cryptocurrency security. FINFRA, a not-for-profit organization overseen by the SEC to author rules and enforce compliance of
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Now that the cryptocurrency momentum is slowly turning against Bitcoin and altcoins again, it will be interesting to see how all markets respond. As is to be expected, the initial response is not promising. The Bytecoin price, for example, is almost down by 8.5% already as holders are cashing out in quick succession.
Bytecoin Price Takes a Small Dump
It is not unsurprising to see alternative currencies give up ground in both USD and BTC value when the value of Bitcoin starts to slip. Investor and speculators will hedge their losses and take whatever profits they can to ensure no real losses are recorded in the end. In the case of the Bytecoin price, the momentum is souring fairly quickly.
Cryptocurrency startup Swarm has an ambitious plan to democratize venture capital, and it has today taken a major step toward that goal by listing tokens that allow investors to purchase fractional shares in privately-owned fintech darling Robinhood. No, Robinhood, a wildly-popular commission-free stock trading app that recently earned a $ 5.6 billion valuation, isn’t holding a
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The current cryptocurrency market momentum doesn’t look all that promising. There have been numerous setbacks over the past 24 hours, mainly because of the SEC deciding to delay another Bitcoin ETF verdict. For the Bitcoin Cash price, it has triggered a massive value decline, as the current seems to be heading below $ 600.
Bitcoin Cash Price Crashes Hard
Every single time the Bitcoin price is suffering from a big decline, it is a matter of time until altcoins feel similar pressure. This has been an ongoing trend for quite some time now, and it seems the situation will not improve anytime soon For the Bitcoin Cash price, this latest setback has been a rather steep as, as its value is on the verge of dropping below $ 600.
According to Redfin, a multi-billion dollar real estate company listed on Nasdaq, 10 percent of millennials have sold their crypto holdings to afford their first home.
Breakdown of Millennials’ Investment Strategies
In March of this year, Redfin surveyed 2,000 US residents to understand the perspectives and concerns of both millennials and full-time employees in their late 30s in entering the real estate market and acquiring their first primary residence.
The survey revealed that 69 percent of millennials and young adults saved paychecks issued by their employers in order to acquire their first residence or obtain a mortgage to pay off their real estate. The other 31 percent of millennials used unique strategies to afford a home for themselves.
It is one of those days again where no cryptocurrency market momentum seems to make sense. All markets are in the dirt once again for no apparent reason, with the IOTA price losing a lot of value in the past 24 hours. With a 145% setback in the past 24 hours, it is evident there will be a lot more blood in the water by the time this day is over.