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A draft law designed to regulate crypto mining in Russia introduces harsh penalties for miners failing to report digital assets to the state. In its latest revision, the bill also threatens to punish those who organize illegal trading of cryptocurrencies with imprisonment and hefty fines. Forced Labor Awaits Miners and Traders Who Operate Outside Law, … Read more
The SEC said Green United’s operation was a fraud and the community was quick to quell fears of the SEC classing crypto mining as a security in the suit. Go to Source Powered by WPeMatico
A U.S. district judge has sentenced a man to three years in prison in a fraudulent cryptocurrency mining scheme. The defendant “misappropriated his victims’ money and failed to provide them with the miners and miner-hosting services they had purchased from him,” according to the U.S. Department of Justice (DOJ). Man Sentenced to Prison for Defrauding … Read more
The establishment of Russia’s first mutual investment fund dedicated to financing cryptocurrency mining operations is underway. According to a report by the Russian press, it will be available to qualified investors and will finance the acquisition of coin minting equipment. Russian Crypto Mining Sector to Attract Shareholders Through Investment Fund Work has begun to set … Read more
Opportunity cost is the potential benefit that is missed out on when choosing one option over another. Go to Source Powered by WPeMatico
The draft law legalizing cryptocurrency mining will be resubmitted to Russian parliament which will postpone its adoption, one of its sponsors announced. Members of the lower house are also working on a separate bill that will introduce liability for those who mint digital coins illegally. Adoption of Russian Crypto Mining Legislation Postponed Again A bill … Read more
The bill seeks to enshrine crypto miners’ rights and will still have to pass muster in the states House before its signed into law by the governor. Go to Source Powered by WPeMatico
Two residents of the Russian city of Tomsk will be tried for “large-scale robbery” involving the theft of cryptocurrency worth millions of rubles from a local miner. The digital coins were stolen from the owner at gunpoint, authorities said, adding that both criminals are now in custody. Thieves Face Trial in Russia for Armed Robbery … Read more
The Ordinals hype is real with the NFT inscriptions now regularly taking over 50% of Bitcoin block space. Go to Source Powered by WPeMatico
Authorities in Abkhazia are stepping up efforts to clamp down on cryptocurrency mining amid electricity shortages in the winter months. The government of the breakaway Georgian region announced it’s also taking measures to prevent imports of mining equipment. Abkhazia Creates Headquarters to Combat Illegal Crypto Mining Operations Police in Abkhazia are conducting daily raids to … Read more
