Bitcoin Will Be Legal In Russia, Mining to Be Regulated

As Russian works on legislation on the trade of Bitcoin and other cryptocurrencies, there’s a possibility that mining could be criminalized. Not in the straightforward sense, according to deputy finance minister Aleksey Moiseev as quoted by RT: “The penalties will be different, mostly administrative, but if someone created the cryptocurrency for the purpose of settlements, then there will be a criminal punishment.” Moiseev confirmed that there would be criminal penalties for people who create pyramid schemes or cryptocurrencies in order to avoid paying tax. The ministry had hinted that miners…

Altcoin Flash-Crashes and Leaked Report to Shareholders Renews Concerns Surrounding Bitfinex

Markets and Prices All eyes have been on Bitfinex in recent days, with the exchange experiencing dramatic flash crashes on select altcoin markets after having been the subject of a distributed denial-of-service (DDoS) attack last week. A quarterly shareholder update from the company has also been leaked, evidencing that Bitfinex is one of the major institutions purchasing USDT from Tether – intensifying the controversy and scrutiny surrounding the relationship between the two companies. Also Read: Bitfinex Slaps a Lawsuit on Its Nemesis as the Tether Squabble Gets Ugly NEO, ETP, and…

Nicehash Mining Pool Allegedly Hacked — Accused of Losing 4449 BTC (US$60M)

News According to reports circulating on the web, the mining pool Nicehash was hacked today for allegedly 4,449 BTC or US$60M at current prices. The Nicehash pool has confirmed the organization was breached but did not disclose how many bitcoins were stolen. Also read: Japan Increases Lead – Approves Another Four New Cryptocurrency Exchanges The Mining Pool Nicehash Says the Organization’s Payment System Was Compromised The mining pool Nicehash says they were hacked today and users believe it was for roughly $60M worth of bitcoin. According to the…