Author: Avi Mizrahi

The government of India is reportedly considering levying a type of consumption tax on cryptocurrency trading and even mining. The most grievous part of this proposal is that it may also be a retroactive measure, demanding payments for past actions.

Also Read: Economics Nobel Laureate Robert Shiller Examines Bitcoin in Historical Context

Crypto Sales Tax

The Indian Central Board of Indirect Taxes and Customs is working on a proposal to impose an 18% tax on cryptocurrencies. The proposal will be considered by the Goods and Services Tax (GST) Council once it will finalized, “people with direct knowledge of the matter” told Bloomberg.

According to the proposal: “Purchase or sale of cryptocurrencies should be considered as supply of goods, and those facilitating transactions like supply, transfer, storage, accounting, among others, will be treated as services; Value of a cryptocurrency may be determined based on the transaction value in rupees or the equivalent of any freely convertible foreign currency; If buyers and sellers are in India, the transaction would be treated as a supply of software and the buyer’s location will be the place of supply. For transfer and sale, the location of the registered person will be the place of supply. However, for sale to non-registered persons, location of the supplier would be considered as the place of supply. Transactions beyond the Indian territory will be liable for integrated GST, and would be considered as import or export of goods. IGST will be levied on cross-border supplies.”

Further according to the proposal, mining will be classified as a supply of service and Indian miners will have to pay taxes on any fees and rewards they make. Additionally, cryptocurrency exchanges, wallet providers and some miners (those making over Rs 20 lakh) will have to register under the GST.

Retroactive Tax

India’s GST came into effect on 1st July 2017, replacing many former indirect taxes levied by the central and state governments as a measure to streamline the tax code. The Indian government is now considering that the tax on crypto will be applied retroactively since the start of the GST system, according to the same anonymous sources cited above. The meaning of this is that people will have to pay for actions they took about a year or so before the new policy, assuming it will be decided on in a couple of months.

If this tax proposal will be accepted, the retroactive aspect of it is the most likely to be challenged by traders and exchanges in the courts. Indian crypto businesses have already had to turn to the courts in the matter of the ban on banks from dealing with them, a matter that is now being handled by the country’s supreme court.

Is a retroactive tax on cryptocurrencies really feasible? Share your thoughts in the comments section below. 

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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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Circle is going after fresh entrants to the cryptocurrency trading market with a new tool that allows them to invest in multiple coins as once. This feature is different than an index fund in a few crucial ways, perhaps most importantly being available to everyday investors not just the rich and trading professionals.

Also Read: Economics Nobel Laureate Robert Shiller Examines Bitcoin in Historical Context

Buy the Market

Circle Internet Financial Ltd., the Goldman Sachs-backed Boston-headquartered company that acquired Poloniex earlier this year, has announced a new feature on Tuesday called “Buy the Market.” It allows users to buy seven assets at once including BTC, BCH, ETH, ETC, LTC, ZEC and XMR. Aiming for simplicity, all a user has to do to create a crypto portfolio with this feature is to enter the amount of USD they want to invest and the app will automatically calculate and distribute the investment sum according to each asset’s market cap.

This type of automatic or passive management investment tool will most likely be compared to existing crypto index funds. However, it is different in a few ways as it is just a technical feature allowing to buy a number of assets at once with one click not a real fund. These include no management fees, no re-balancing when market caps change, and a very accessible minimum investment sum of just $1.

Better Than Crypto Index Funds?

When comparing to crypto index funds such as those offered by Coinbase or Bitwise, the first thing to pop out is that the new Circle feature is available to all its normal users, not just to so called accredited investors. To be considered an accredited investor in the US, an individual must first report to the SEC that they have a net worth of at least $1,000,000 excluding the value of their primary residence or have a yearly income of at least $200,000. And companies need to have total assets in excess of $5 million or be recognized as a bank, insurance company, business development company, or registered investment company.

Circle’s Rachel Mayer commented: “This is one of the first experiences of its kind for consumers. Other crypto products that allow you to invest in market weight distributed fashion are accompanied by high minimums and 3% management fees. Circle Invest removes all this friction, making investing in multiple coins at once available for anyone at the same competitive pricing we deliver on all of our coins.”

Only last week Circle announced it had raised $110 million in a Series E fundraising round led by the Chinese firm Bitmain Technologies. It now looks it intends to use this money to expand its services in more ways than just issuing a new Tether alternative, like challenging index fund providers.

Would you prefer using such a feature over investing in a crypto index fund? Share your thoughts in the comments section below. 

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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.

The post Circle Adds New Feature Allowing Newbies to ‘Buy the Market’ appeared first on Bitcoin News.

The Tel Aviv District Court has received today an indictment against Halmi Git, a 33-year-old from the Palestinian city of Hebron, for a wide-ranging affair involving the management of forums for the sharing and sale of stolen credit card details. His forums have allegedly involved about 1,300,000 users from around the world, leading to massive fraud.

Also Read: Bitcoin in Brief Monday: New EU Rules Kill Another Crypto Venture

Stealing Even From the Moon

According to the indictment, the defendant established the forums in 2008 and managed them until his arrest at the beginning of the month. The entrance to the forums was free of charge, but users could purchase a VIP status to receive stolen details of “fresh” credit cards, which are more likely to be still working. Additionally he published manuals and guides that provided information and tools on how to commit various computer offenses, remotely hacking computers and taking over remote computers or servers.

Halmi also allegedly committed crimes of fraud against users of his own forums. The defendant would offer selling cell phones at discounted prices, but once a user transferred him money he would block the user from the site and take his money without providing compensation. He would then publish a message, supposedly in the name of the deceived user, in which he thanked the defendant for providing the cheap mobile phone.

Apparently trying to convince investigators his actions were not motivated by specific malice towards Israelis, many of which were his alleged victims, Halmi is quoted as saying: “We are thieves, from wherever we can take money, we will take it – it does not matter where, from Israel, the US or even the moon, we will reach it and use it.”

1,071 BTC Seized

According to the indictment, the defendant demanded that all payments to him be made through Bitcoin, to make it more difficult to locate him. In addition, Halmi acted consistently to disguise his identity by technological means, made many money transfers between different Bitcoin wallets for the purpose of covering his tracks, used online masking services to distance himself from his various accounts, and recorded parts of his property in the name of his relatives.

The Israeli State Prosecutor’s Office attributes to the defendant money laundering of at least 1,071 BTC, estimated at NIS 31,000,000. During the interrogation, in a precedent-setting move, the defendant’s Bitcoin wallet was seized and the amount found in it was transferred to a police wallet. The State Prosecutor’s Office intends to confiscate all the contents of the defendant’s Bitcoin wallets, if and when he is convicted. The case was investigated by investigators of the Israeli national cyber unit at Lahav 433.

The offenses with which Halmi is charged are: credit card fraud under aggravated circumstances (multiple offenses), receiving a thing fraudulently under aggravated circumstances, providing means for committing a crime, violating the Computers Law and money laundering.

What should be the punishment for such an alleged crime? Share your thoughts in the comments section below. 

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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.

The post Hebron Resident Accused of Laundering Millions From Stolen Credit Cards With Bitcoin appeared first on Bitcoin News.

LMAX Exchange Group, which operates a UK Financial Conduct Authority (FCA) regulated FX trading venue, has announced today a physical cryptocurrency exchange dedicated to serving only institutional clients. The company says it developed LMAX Digital at the request of its existing clients who asked for a credible, efficient and trusted platform to trade with like-minded institutions.

Also Read: Bitcoin in Brief Monday: New EU Rules Kill Another Crypto Venture

Institutional Grade Crypto

LMAX Digital will offer access only to the most liquid crypto assets including BTC, ETH, LTC, XRP and BCH, 24 hours a day, seven days a week. The company explains that trading is governed by similar rules and principles as LMAX Exchange’s FCA regulated MTF (Multilateral Trading Facility), meaning that the exchange offers the same level of security, compliance, KYC and anti-money laundering policies and procedures as its established operations.

Other features of the service include keeping one public rulebook for all members; a central limit order book (CLOB) with streaming, firm institutional liquidity; safe and secure hot/warm/cold multi-signature wallets; and a full custodian solution. Execution details include a matching latency of under 350 microseconds; a high throughput greater than 100,000 messages per second; an uptime of 100%; and all orders time-stamped in microseconds (receipt to execution). After the launch of LMAX Digital in a London-based data center (LD4), the company intends to also roll out infrastructure in New York and Tokyo in the near future.

Game Changer David Mercer, CEO, LMAX Exchange

“We are furthering the legitimisation of the crypto currency market by offering institutions a platform on which to acquire, trade and hold crypto currencies securely with high quality, deep liquidity,” said David Mercer, CEO of LMAX Exchange. “Over $10 trillion of FIAT has been traded on our exchanges to date and we have institutional clients in over 100 countries. We’ve applied everything we’ve learned in the institutional FX market to LMAX Digital, to create a fundamentally improved, secure digital exchange based on our proven trading technology, market leading liquidity and transparent and precise execution.”

“The rise of institutional trading of crypto currencies will be a game-changer for the industry. We believe our new exchange will support the transformation of the crypto market from the fringes to the mainstream. Digital currencies are, without a doubt, coming of age. Exchanges will play a crucial role in bringing the major crypto currencies into wider circulation, helping them to become accepted into conventional funds which in turn will help to support a normalisation of value,” he added.

Serious institutional money has been pouring into the crypto market since 2017, leading to the recent launch of new services catered specifically to this segment from the likes of Coinbase and others.

What do you think about this development in the institutional space? Share your thoughts in the comments section below. 

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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.

The post LMAX Exchange Group Launches Institutional Cryptocurrency Exchange appeared first on Bitcoin News.

The upcoming implementation of a major regulatory push by the European Union to control how companies can operate on the Internet has killed another venture in the cryptocurrency sphere. This story, astrology-based financial investment, and many more feature in today’s edition of Bitcoin in Brief.

Also Read: Marvel, The Simpsons Go Crypto

Parity Shuts Down ICO Passport Service

The team behind Parity Technologies, the developers of the Parity multi-signature wallet, have announced they are shutting down PICOPS, a service used by ICO campaigns to comply with KYC/AML regulations by validating that the owner of an Ethereum wallet has already passed an ID background check. The reason for the closure is a new EU dictate called the General Data Protection Regulation (GDPR), which is meant to bring a new set of “digital rights” for EU citizens and guard their personal data. The regulation that will come into force this Friday has already killed other services in the crypto space such as the P2P exchange Cointouch and has forced others to change the way they do business such as Localbitcoins.

The Parity team explained that: “GDPR creates new and untested challenges when storing personal information on the blockchain. These challenges make running a service like PICOPS more difficult. We are looking at ways of resolving the uncertainty and making PICOPS compliant with GDPR while keeping it useful. However, as things stand, the solutions we have identified restrict the service to a very limited set of features. Because of this, the significant resources required to make PICOPS GDPR-compliant, and the fact that PICOPS is not part of our core technology stack, we have decided to discontinue the service, despite overwhelming market needs and demand.”

Indian Ban Case Shifts to Supreme Court

The Supreme Court of India has taken over the cases of Coin Recoil and others challenging the Reserve Bank of India (RBI) ban on local banks from dealing with bitcoin companies. The next hearing of this now combined case is planned for July 20, 2018.

Rashmi Deshpande, Associate Partner at Khaitan & Co., commented: “The Supreme Court has recently transferred the entire batch of petitions pending at High Court level with respect to the contentious issue of RBI effectively banning transactions in cryptocurrencies. This decision highlights the importance of this issue at a national level from not just a legal, but also an economic standpoint. We strongly believe that the RBI’s circular to effectively discourage the business of cryptocurrency exchanges is an arbitrary decision against the freedom of the right to trade guaranteed by the Constitution. We are hopeful that justice will be meted out at the Supreme Court level.”

Written in the Stars

Astrology-based financial investment is apparently a thing, and many practitioners are using it to navigate the tumultuous seas of the cryptocurrency markets. This is according to a Marketwatch report that cited a number of astro-investors and even a professional astro-analyst talking about the practice as well as their predictions.

This matter came into the forefront recently after ex-NFL star Ricky Williams shared his use of the of study of celestial objects with CNBC. “When I look at things, I tend to look at astrology to get insight. The insight that got me interested in Bitcoin was the planet Uranus is about to enter into Taurus,” he explained.

Roboforex to Compete with Wallets

Roboforex, an IFSC (International Financial Services Commission of Belize) licensed financial firm offering crypto CFDs, has introduced a new service for its clients to buy BTC with fiat directly from the broker. The company believes that its regulated status will convince users to use their accounts

Canaan Creative Co. Ltd, the Chinese company behind the Avalon lineup of hardware equipment which produces ASIC mining chips and rigs, has officially submitted a listing application to Asia’s third-largest equities market – the Hong Kong stock exchange.

Also Read: HTC to Launch Its Own Cryptocurrency-Focused Smartphone, Exodus

$1 Billion IPO

Canaan posted a preliminary prospectus on Tuesday revealing it brought in a revenue of 1.3 billion yuan in 2017 and that its net income jumped over 600% to 361 million yuan. Morgan Stanley, Deutsche Bank AG, Credit Suisse Group AG and CMB International Capital Ltd. are named as joint sponsors of the proposed offering in the preliminary prospectus. The filing did not specify the amount Canaan will try to raise in the public offering but it is widely expected to be around $1 billion.

The Chinese ASIC cryptocurrency hardware market grew to 7.3 billion yuan in 2017 from just 50 million yuan in 2013, Canaan revealed in the filing, and consultant Frost & Sullivan extrapolates, that it will reach 28.6 billion yuan by 2020. The exact target date for the stock listing Canaan has in mind was not made public, and might change along with other details as the matter is evolving, but a person with knowledge of the situation told Bloomberg the company aims to start trading as soon as July 2018, just about two months from now.

Canaan to HK

The Hong Kong market wasn’t the company’s only possible avenue for listing. Last year Canaan was known to be looking to list on China’s National Equities Exchange and Quotations, an over-the-counter market, and earlier this year it was reportedly examining its options for a US-based IPO. The company didn’t explain why it eventually picked Hong Kong but it is safe to assume that the less hostile regulatory approach on the island, compared to both mainland China and the US, played a part in the decision.

Back in April, we reported that the company employs around 200 people in Beijing and Hangzhou, mostly in R&D, and is looking to hire more. Canaan might use its chip development know-how and capabilities to create an unexpected new lineup of products. These can include home appliances such as television sets that mine cryptocurrencies “while you sleep.” Other developments include chips to power artificial intelligence (AI) applications and of course new hardware for mining additional cryptocurrencies.

Should all stock investors add an ASIC producer to their portfolio to get exposure to the bitcoin market? Share your thoughts in the comments section below. 

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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.

The post Bitcoin Mining Manufacturer Canaan Files for Hong Kong Stock Exchange IPO appeared first on Bitcoin News.

With HTC entering the race, a second cryptocurrency supporting smartphone created by a major electronics manufacturer is now on its way to the market. Could this be the start of a trend by all device makers to embed features such as hardware wallets into phones to help increase sales among more tech savvy consumers?  

Also Read: Samourai Wallet Creates App for Transactions Over Mesh Networks

Exodus From Fiat to Crypto

Taiwanese consumer electronics manufacturer High Tech Computer Corporation or HTC (TWSE: 2498), will release its own cryptocurrency-focused smartphone. The company has announced it is developing a “blockchain-powered” device that will be based on Google’s Android operating system which will be named Exodus.

The phone is expected to contain a universal wallet and a “built-in secure hardware enclave” supporting cryptocurrencies and dapps (decentralized applications). HTC reportedly also wants to create its own network with each phone serving as a node to facilitate trading within it. Finally, the company is examining the possibility of selling the device for cryptocurrency as well. “Through Exodus, we are excited to be supporting underlying protocols such as Bitcoin, Lightning Networks, Ethereum, Dfinity, and more,” Phil Chen who is responsible for the development told Thenextweb. “We would like to support the entire blockchain ecosystem, and in the next few months we’ll be announcing many more exciting partnerships together.”

Cryptocurrency Support as Killer App

If you follow the electronics market carefully, you must know that HTC has not been doing so well in recent years despite creating some great devices. In that context it is possible to imagine that the company is betting on a cryptophone to give it a more edgy brand to attract privacy-minded young people and the more tech savvy crowd. However, other companies have explored the field before HTC and it is thus possible that many more will soon feature built-in cryptocurrency support in their devices.

Earlier this month we reported on the technical details that have emerged about Sirin Finney, an ultra secure mobile device promising to keep your cryptocurrency transactions private. The phone will feature an embedded cold storage wallet, and will be built by the same company that builds the iPhone, Foxconn. And back in March of this year, the Chinese smartphone maker Huawei was rumored to be in serious talks with Sirin Labs about the device too.

How long until all new phones will support crypto as default? Share your thoughts in the comments section below. 

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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.

The post HTC to Launch Its Own Cryptocurrency-Focused Smartphone, Exodus appeared first on Bitcoin News.

The rush of big money into the cryptocurrency market is continuing at full pace and reshaping the global investment landscape. Two recent examples are Coinbase’s new institutional focus and Nomura’s new venture. These stories, and much more, are in today’s edition of Bitcoin in Brief.

Also Read: NY Regulator Approves Bitcoin Cash, Zcash and Litecoin Trading

Coinbase Goes After Big Money

Coinbase, the San Francisco-based cryptocurrency exchange recently valued at $8 billion, has announced a new suite of services meant to attract more big money players such as the many new crypto hedge funds that pop up all the time. It will launch a cryptocurrency custodian in partnership with an SEC-regulated broker-dealer to a group of initial clients that include 1confirmation, Autonomous Partners, Boost VC, Meta Stable, Multicoin Capital, Polychain Capital, Scalar Capital and Walden Bridge Capital.

New offerings also include Coinbase Prime, a suite of tools specifically designed for institutions, and an institutional coverage group headquartered in New York City to provide a higher level of service to these type of clients. “There is clear demand from institutional clients and financial services professionals for more specific solutions with regard to cryptocurrencies that address their sophisticated needs,” said Adam White, Vice President and General Manager of Coinbase Institutional.

The company will also be opening a new engineering office in Chicago to continue developing Coinbase Markets, which provides a centralized pool of liquidity for all its products. Over the course of the year it is promised to introduce new features like low latency performance, on-premise data-center co-location services, institutional connectivity and access, and settlement and clearing services. “As a global leader in financial technology, Chicago welcomes innovative companies investing in our city and creating jobs for Chicago residents,” said Mayor Rahm Emanuel. “There is no better city than Chicago for companies that want to put down roots and grow their businesses.”

Komainu to Protect Mutual Funds

Komainu is a new venture established to help overcome barriers for institutional investment in crypto-assets with a custody solution and offering new services, standards and best practices. Its founders include Tokyo-headquartered global investment bank Nomura (NYSE: NMR), hardware wallet developer Ledger, and Global Advisors, parent company of Coinshares.

Jez Mohideen, Global Chief Digital Officer at Nomura, said: “Global investment managers have long been held back from full participation in digital asset markets, limited by operational and regulatory risk. Our new partnership will set the required standards that will bring peace of mind to digital asset investors, and provide tools and products to enable better integration with more traditional investment vehicles such as mutual funds.” Jean-Marie Mognetti, Co-Principal of Global Advisors, added: “After 6 years of research, and collaboration with our administration partner and its regulator, we now have demonstrable progress. This partnership is a progressive stepping stone towards the creation of the necessary prerequisites for further growth within the digital asset ecosystem. This will open new and exciting opportunities to global participants and contribute to move digital asset closer to mainstream offerings.”

Ledgerx Savings Accounts

Ledgerx, the CFTC-regulated cryptocurrency management platform, has launched a new savings account-like product. Ledger Savings uses an underlying call overwrite strategy but offers a simple interface so that users won’t need to know anything about investing in derivatives. It targets a 16% per annum yield with a potential 2x exit at maturity in the event BTC doubles from current spot prices. For launch, the savings product will be offered for 3 month, 6 month, and 12 month maturities, at varied rates. After selecting the product for the desired maturity, the USD amount is available immediately to withdraw but the associated BTC

Ever worried about how will you be able to transact if your ISP (internet service provider) will try to prevent you from sending a transaction or will just not be able to due to a disaster bringing down the needed infrastructure? Setting up mesh networks, which can self-organize without a centralized control hub, is one much talked about possible solution.

Also Read: NY Regulator Approves Bitcoin Cash, Zcash and Litecoin Trading

Bitcoin Mesh Network

The developers of the privacy-centric wallet, Samourai, have teamed up with Gotenna, a Brooklyn-based startup that designs technologies for off-grid and decentralized communications. Together the two teams have created a solution for making transactions over mesh networks. The Txtenna app is meant to enable a more resilient, censorship-resistant and decentralized network for when the internet is inaccessible.

A transaction using the app will begin with the user creating a standard offline transaction and signing it using the Samourai Wallet. The wallet then passes the transaction to Txtenna which broadcasts it to nearby mesh nodes via a Gotenna mesh device. Similar devices in the area relay the transaction until an internet connected node receives it and forwards it to the network. Its developers say that the Gotenna mesh is a simple, affordable, secure, and resilient solution, but you will obviously need to have access to one of their physical devices beforehand for this to work.

Off the Grid

“Currently the bitcoin peer-to-peer network relies heavily on ISPs for internet connectivity. A few large corporations run these services, many of which are regional or national monopolies. These companies have a track record of putting commercial interests above net neutrality, as they did in 2007/2008 for example, when Comcast secretly throttled Bittorrent traffic. These systems are centralized, making them fragile during natural and man-made disasters,” explained Richard Myers a decentralized applications engineer at Gotenna.

Mesh networking isn’t the only option the Samourai team is working on to make sure users can transact when the internet is down. Back in January they have revealed a new proprietary app called Pony Direct, a transaction payment method (or to act as a relay) to send bitcoin via short message service (SMS) texts.

What other applications do you see for this technology? Share your thoughts in the comments section below. 

Images courtesy of Shutterstock, gotenna.

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.

The post Samourai Wallet Creates App for Transactions Over Mesh Networks appeared first on Bitcoin News.

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

Chris 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

Family 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