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A major Russian mining firm is facing legal troubles in St. Petersburg, as three individuals are accusing the company of fraud. Cryptouniverse will now face a trial after a city court issued a criminal case order during the week. A District Court Rejected to Launch a Criminal Case Against the Firm in 2020 According to … Read more
Fidelity Digital says it will allow institutional customers to pledge bitcoin as collateral against cash loans in partnership with Blockfi. The firm’s decision helps bitcoin investors turn their digital holdings into cash without selling. Fidelity’s targeted clients include hedge funds, crypto miners, and over-the-counter trading desks. According to a report that quotes Tom Jessop, the … Read more
The Russian crypto association is working on two projects to create mining pools offering better conditions to the local mining companies. The industry has seen robust growth with 70,000 enterprises currently operating in the field. Miners are taking advantage of the cheap electrical energy produced in Russia. Many companies believe it’s time to legalize all … Read more
In today’s edition of Bitcoin in Brief, we cover the addition of Vietnamese đồng fiat to Huobi OTC, venture capital fund Dymon Asia backing a new institutional crypto platform, and Paxful donations supporting the building of a second school in Rwanda. Also Read: US Government to “Aggressively Pursue” Unregulated Services Around the World Huobi OTC … Read more
A mainstream media assertion made recently implies that cryptocurrency is quite costly in terms of energy consumption. “Bitcoin has been alarming people for years,” the report notes, pointing to the amount of electricity used for its mining – almost as much as a small nation needs. But is that really so? Also read: Japanese Internet … Read more
Dipping cryptocurrency markets are hurting not only crypto holders but also a number of related businesses and sectors. Manufacturers of hardware that can be used in mining applications, like GPU makers Nvidia, AMD and their OEM partners, are also hit by weak demand in the sector which is pushing inventories up. Also read: Bitcoin Businesses … Read more
Graphics card manufacturer Nvidia has announced its revenues for the first quarter, mentioning separately the amount generated from sales to the crypto market. The total includes $289 million related to GPUs for cryptocurrency mining, according to a corporate report. Demand from crypto miners was stronger than expected, the company noted. Also read: New Player … Read more
Despite already setting a precedent in a previous case, the Israeli courts system is again called upon to stop a bank from shutting down a crypto business. This time, Union Bank tried to refuse operating an account to a mining firm – a service all companies need to legally operate in the country. Also Read: … Read more
With 80 percent of all bitcoins already mined, and the hashrate of the network reaching all-time highs, in today’s Bitcoin in Brief we are covering some news from the world of crypto mining. An Italian company is developing mobile mining farms, while in Russia a mining hotel offers an opportunity to legally earn cryptocurrency. And, … Read more
Russian citizens are expected to pay 13 percent tax on their crypto-related incomes. Amendments to the tax code are currently being prepared. The exact rates should be confirmed by the end of the year. However, lawyers have warned that even now citizens risk criminal prosecution if they fail to report gains from dealings with cryptocurrencies. … Read more
