Russian Police Arrested 22 Bitcoin ATMs

bitcoin atms banned in russia

On August 31, Russian law enforcement agents confiscated crypto terminals belonging to the company BBFpro, which were located in 9 cities of the country.

Artem Bedarev, the head of the company, does not understand what such actions of the police are connected with and specifies that before the incident the company did not receive requests from the prosecutor’s office:

I was told verbally that the inspection would take at least six months and that the ATMs wouldn’t be returned until it’s finished.

In turn, the Prosecutor General’s Office of the Russian Federation did not disclose anything specific about why such actions were carried out regarding BBFpro crypto terminals, but they recalled that the regulator “is systematically working to identify and counteract illegal activity on the financial market.”

The representative and lawyer of BBFpro in the Center for Digital Rights Sarkis Darbinyan commented on this situation:

 

There is no ban on the purchase of cryptocurrency in the current legislation. The company complies with all the procedures established by law, it pays taxes, and even identifies users despite the absence of such mandatory requirements.

We remind you:

Is Russia Following the US by Banning Crypto Ads?

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A Large IT-Company Begins Accepting Cryptocurrency

An American company Avnet which is on the list of the largest technological organizations version of Fortune 500 announced that they are ready to accept digital coins including Bitcoin as payments. This was made possible because of a BitPlay service.

It should be noted that Avnet has also begun collaborating with Bitcoin.com. The main purpose of which is the development of a brand new cold wallet. It will provide the highest level of transactions safety and the storage of different digital coins.

Nevertheless, we shouldn’t forget the “dark” past of BitPay service. At the beginning of last year, representatives of large cryptocurrency communities called not to use its services.

The fact is that the workers of this service unilaterally without any negotiations with Bitcoin developers refused to support BIP21 and introduced a little known BIP70. Since 2013 it is of ill report because with its help BTC “blacklists” were created.

We want to remind you:

BitPay Transactions Surpasses $1B in 2018, B2B Payments Records 225% Increase

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Japan Released New Rules In Crypto Margin Trading

Japan is a progressive country in terms of economy, as well as cryptocurrency regulation. This time Japanese financial authorities have released a new set of rules regarding crypto margin trading.

Margin trading is a strategy that allows a trader to buy more stocks than you can afford on money borrowed from a broker (similar to loan).

The Cabinet of Japan approved draft amendments to Japanese financial instruments and payment services laws on Friday. In fact, they will limit leverage in virtual currency margin trading at two to four times initial deposits. Such restrictions are a common practice in foreign exchange trading.

All crypto exchanges throughout the country are bound to get governmental registration. This type of registration will differ from that adopted in 2017, which was mostly focus on preventing money laundering. However, these rules make exchange operators be monitored in a way similar to securities traders to protect investors.

These crypto exchange operators will be classified into categories to differentiate those who involved in margin trading from those who issued ICO tokens. This will help to distinguish unsavory offerings that are similar to frauds or Ponzi schemes and protect investors from losing their money. The new rules will come into force in April 2020. All margin cryptocurrency exchange operators have to be registered within 18 months of that date.

Such a time limit is set to take down unregistered “quasi-operators” which conduct operations without governmental approval. A senior FSA official said:

“We intend to motivate operators to do what they can to become registered.”

We remind you

Japan’s Biggest Bank Is Not Going To Create Its Own Cryptocurrency: Fake News Is Not Confirmed

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Winklevoss’ Brothers Said “Crypto Doesn’t Need Rules”, What About Crypto Companies?

Winklevoss twins are one of the most influential crypto personalities in the modern world. They are multi-millionaires with their own exchange – Gemini – and own dollar-pegged Gemini coin. It is no secret that the brothers have supported crypto since the beginning of it, but now they promote crypto regulation which confronts with the idea of crypto as well as with their billboard slogans. What happened?

Crypto Needs Or Doesn’t Need Rules

The twins are known for deconstructing the stereotypes and the myths that surround crypto in the public. They want to change the image of crypto that has been plagued with scams, hacks, frauds. However, their billboard slogan “Crypto Needs Rules” was criticized by Bitcoin users as the main meaning of crypto is to transfer money or digital assets without having to trust anyone.

Source: Bitcoinist

Cameron Winklevoss said that some people wondered why Gemini believes that the crypto revolution needs rules. He responded:

“Crypto doesn’t need rules, but the companies built on top of it do.”

Cameron also cited a part of report regarding to the defunct QuadrigaCX exchange which lost millions of dollars.

In order to prevent cases like QuadrigaCX and Mt.Gox, the latter’s CEO was sentenced to 2 years and six months in prison, the companies that provide custodial services of customers assets should be regulated. Furthermore, Winklevoss pointed out that these cases as well as other incidents could have been preventable if there was a proper management of the company, in particular, “proper rules and thoughtful regulation”.

We remind you

The Gemini Dollar of Winklevoss Brothers Is Officially Approved

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When Will Finally Growth Happen? Or Fresh Forecasts of Cryptocurrency Analysts

As we all remember, the 2018th year was far from the best in the history of Bitcoin as well as other cryptocurrencies. For the previous year, the first cryptocurrency slipped from $20,000 to $3,200. As of this writing, one BTC coin costs $3,940.

Perceptible revival in the cryptocurrency market has provoked another dose of optimistic statements from analysts. Let’s take a look at what professional traders and cryptocurrency market experts are saying about the immediate prospects for the Bitcoin rate.

Leah Wald

A professional trader, and in the past, World Bank economist Leah Wald, claims that the rate of the main cryptocurrency will fall to a critical level of $1,500, and only after that, new growth can begin, up to $6,500. But the user with the nickname Filb Filb doubts her prediction and claims that BTC has already “found its bottom” and now only the growth up to $6,000 and higher is waiting for us.

Leah Wald is confident in her forecast, so she decided to make a bet with her opponent – in case her prediction turns out to be wrong, she will have to transfer 1 Bitcoin to the user Filb Filb.

Cane IslandCrypto

An analyst from Texas, who is known on Twitter under the nickname Cane IslandCrypto recently published his own vision of the BTC price behavior in the coming years. So, he believes that a long and confident uptrend is waiting for us:

  • until the end of 2019, the BTC course will be $7,800;
  • in 2021 – $28,627;
  • in 2023 – $93,382;
  • in 2026 – $471,532.

He is confident that the bear market is over and only growth is waiting for us in the coming years.

Canaccord Genuity CapitalMarkets

A group of leading analysts of Canadian financial institutions Canaccord Genuity CapitalMarkets has a similar opinion about the rate of the first cryptocurrency. They believe that in two years Bitcoin will return to its peak values and go higher.

To create the own Bitcoin price chart, analysts were guided by historical data for 6 years (from 2011 to 2017). After analyzing the behavior of BTC, they came to the conclusion that at the moment the price of the asset has already “found the bottom”. And in the near future, the BTC course should start its growth.

Conclusion

If we analyze this information, we can conclude that the mood of market participants is beginning to change for the better. So far, the Bitcoin rate shows growing, even though slow: in recent months it has grown from $3,200 to $3,940 and continues to ascend. The nearest psychological mark is at the level of $4,000 – $4,100.

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Bitcoin Overcame Psychological $4000 Mark: Rate Chart

The weekend begins well: today on March 16th, 2019, Bitcoin rate broke another psychological mark of 4 thousand dollars.

Half-hour graph from cryptocurrency exchange Bitstamp Source: TradingView

In the graph above we can see that not only Bitcoin has increased, but also trading volume. As expected, almost all the coins followed Bitcoin.

Source: Coinmarketcap

This is exactly how Top-10 cryptocurrencies looks like. Bitcoin Cash showed the maximum growth in the last 24-hours, it managed to grow by 14%, the second place in the growth dynamic takes Litecoin with 6,61%.

What is it – the final verge of a trend or another market manipulation? We will follow developments and provide you with the latest information.

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Cryptocurrency Prices Today, March 12: Cryptocurrencies Remain Stable

Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Litecoin, Cardano, Stellar, IOTA, Dash, Monero: Cryptocurrency prices

According to the online platform Coin360, Bitcoin (BTC) remained stable over the past 24 hours and slightly increased in price by 0.04%. The price at the time of writing is $3893 per coin.

For the most part, cryptocurrencies are showing growth:

Bitcoin Cash added 0.6%, Bitcoin SV lost 1.4%, the value of coins is $128 and $65, respectively;

Ripple dropped by 0.4% and costs $0.31;

EOS gained 3%, and its price is $3.71;

Litecoin added 3.2%, and its value is $56;

Cardano increased by 5.7%, and its cost $0.047;

Stellar lost 4.6% and costs $0.10;

IOTA grew by 1.4%, and its value is $0.28;

Dash increased by 4.4%, and its price $84;

Monero added 2% and costs $50.

Over the past 24 hours, Ethereum added just 0.2%. The rate of the coin is $133.

The total market capitalization is $134 billion. Bitcoin accounts for 51.4% of the total volume. In monetary terms, this is $69 billion.

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