American ATM Network Athena Bitcoin Adds Bitcoin Cash Support
Bitcoin cash (BCH) is now available for trading in dozens of new physical locations across the US. The American ATM network Athena Bitcoin has added support for buying and selling the cryptocurrency for fiat cash on all its machines.
Also Read: Polish Financial Authorities Paid Youtuber to Smear Cryptocurrency
Bitcoin Cash ATM Network
Midwest US-based cryptocurrency ATM network Athena Bitcoin has recently announced that bitcoin cash (BCH) has been made available on all of its machines. This is only the third cryptocurrency now supported by the ATM network following bitcoin (BTC) and litecoin (LTC).
Athena machines offer both the buying and selling of cryptocurrency, which means American BCH holders have gained not only a new convenient method to increase their stockpile of the cryptocurrency but also the ability to easily exchange it for fiat in case they need to pay in shops that don’t accept credit or crypto.
The company explains to clients that bitcoin cash is a fully independent currency that features a different price, development team, and community compared with BTC, and that they will therefore need to use a BCH supporting wallet for buying the cryptocurency. The Athena Bitcoin wallet does not support BCH yet, but the company promises that it will be soon after an upcoming update.
It’s heeere! #BitcoinCash is available at all ATM’s in our network! Come and get a piece of #Satoshi‘s vision! #BCH pic.twitter.com/xx2hS7mzaO
— Athena Bitcoin (@AthenaBitcoin) February 16, 2018
ATMs Across America
Its ATMs are designed to allow users to purchase cryptocurrency without a bank account, debit card or credit card. The company promises people can buy cryptocurrency for the machines in as little as 90 seconds with just an appropriate crypto wallet on their smartphone.
Should bitcoin ATM networks add support for even more cryptocurrencies? Tell us what you think in the comments section below.
Images courtesy of Shutterstock, Athena Bitcoin.
Do you like to research and read about Bitcoin technology? Check out Bitcoin.com’s Wiki page for an in-depth look at Bitcoin’s innovative technology and interesting history.
The post American ATM Network Athena Bitcoin Adds Bitcoin Cash Support appeared first on Bitcoin News.
CFTC Offers $100,000 Bounty to Crypto Pump-and-Dump Whistleblowers
The US Commodity Futures Trading Commission (CFTC) has created a bounty to encourage whistleblowers coming forward in exposing “pump-and-dump” schemes. “Customers should not purchase virtual currencies, digital coins,” the CFTC warned, “or tokens based on social media tips or sudden price spikes. Thoroughly research virtual currencies, digital coins, tokens, and the companies or entities behind them in order to separate hype from facts.”
Also read: Citibank India Bans Bitcoin
Pump-and-Dump Bounty
To eat at scammers’ anonymity at least, the CFTC is offering, “If you have original information that leads to a successful enforcement action that leads to monetary sanctions of $1 million or more, you could be eligible for a monetary award of between 10 percent and 30 percent.”
Customer Advisory: Beware Virtual Currency Pump-and-Dump Schemes is a two-page effort from the CFTC, “advising customers to avoid pump-and-dump schemes that can occur in thinly traded or new ‘alternative’ virtual currencies and digital coins or tokens.”
As these pages have long documented, scams and schemes of old are reappearing anew in a space filled with inexperienced investors. For those familiar with, say, the American stock market experience, boiler room cold calls of yore, penny stocks, hot tips, and sure things are all haunting phrases investors have encountered at one time or another.
The ubiquity of message boards and of stock trading websites only encouraged scammers in this regard. Price action moved on pumps, on posts and general chatter about the potential of a given stock only a few were privy. Greed did the rest. Regulatory bodies in the US have had enough time to see their likes come and go.
Old Wine, New Bottle
And while such scams seem new under the cloak of hip lingo such as cryptocurrency and blockchain and disruptive and game changer, it’s all pretty much the same old dance. Indeed, “Pump-and-dump schemes have been around long before virtual currencies and digital tokens. Historically, they were the domain of ‘boiler room’ frauds that aggressively peddled penny stocks by falsely promising the companies were on the verge of major breakthroughs, releasing groundbreaking products, or merging with blue chip competitors.”
The artifice of demand, such as it was, reflected in the price. “When the prices reached a certain point, the boiler rooms would dump their remaining shares on the open market, the prices would crash, and investors were left holding nearly worthless stock.” What might be slightly different in our present era is the relative sophistication and ability to hide true identities. And with basically one click, thousands of people can be reached rather easily.
For the broader ecosystem, self-regulation often happens in the form of news, Youtubers, message boards, and generally works itself out. Some enthusiasts insist it’s crypto’s charm, the engine of innovation, to police itself with heavy doses of caveat emptor. Part of the problem with accepting rat traps of the government regulatory body variety is what’s being invited. Running to Big Brother empowers Big Brother, a concept easily missed in the heat of pursuing justice. Often such bounties are used as metrics to buttress future enforcement budgets and to encourage more activist legislation. But these too are lessons this brave new world must learn anew.
What do you think about the CFTC bounty? Let us know in the comments section below.
Images courtesy of Pixabay, CFTC
Need to calculate your bitcoin holdings? Check our tools section.
The post CFTC Offers $100,000 Bounty to Crypto Pump-and-Dump Whistleblowers appeared first on Bitcoin News.
Malta to Give “Peace of Mind” to Crypto Companies
The government of Malta has come up with an idea that businesses dealing with cryptocurrencies may find interesting. A new policy document seeks to set up a special agency which will “certify” blockchain platforms and “verify” crypto transactions. It is supposed to “bring peace of mind” to companies using these technologies to cut out central authorities and banks. Valletta also proposes legislation that will define the roles of intermediaries and regulate initial coin offerings.
Also read: Gibraltar Launches Regulation to Protect Cryptocurrency Value and Reputation
Government Will Provide “Legal Certainty and Trust”
The new Malta Digital Innovation Authority will certify blockchain platforms used by companies in the country. It will also be responsible for “verifying” cryptocurrency transactions by checking if the logged information is genuine. The government hopes to bring some peace of mind to businesses using distributed ledgers for cross-border payments.
Authorities in Valletta are recognizing that companies utilize blockchains to cut out central authorities. However, they acknowledge that the technology allows for cheaper and more efficient money transfers. Worried that those platforms are not currently certified in any way, the government has decided to provide some “legal certainty and trust”. Officials believe companies will benefit from the work of the new authority, while also cutting out intermediaries such as banks.
The Parliamentary Secretary for the Digital Economy Silvio Schembri presented the new policy document at a press conference with various stakeholders, the Maltese Independent reported. He called the event a “historic moment” and provided further details on how authorities plan to implement regulations concerning the cryptocurrency sector in successive stages.
The first step will be to set up the Malta Digital Innovation Authority. A bill will set out the regime for the registration of service providers and the certification of technology arrangements, Schembri explained. On stage 2, another draft will formalize the framework for Initial Coin Offerings (ICOs). A third law will impose regulation on services directly related to cryptocurrencies. Intermediaries like brokers, exchanges, wallet providers, asset managers, and investment advisors will be subjected to its provisions.
Malta Strives to Be a Hub of Innovation
Silvio Schembri stressed that promoting policies which favor the development of Malta as a hub for new technologies, including in the public sector, will be among the main goals. The aim is to foster innovation by creating a successful ecosystem, he added. That will be achieved through the “utilization of cutting edge technology in useful business cases and the adherence to best practices”. The lawmaker also noted that the Digital Innovation Authority would protect Malta’s reputation taking into account its international commitments under anti-money laundering directives.
The Parliamentary Secretary for the Digital Economy said the government would consult with all stakeholders before finalizing its policies, including relevant authorities like the Financial Intelligence Analysis Unit (FIAU) and the police. Local and international representatives of the industry will also be involved in the process. Silvio Schembri added that the public is free to provide feedback in the next three weeks. After that, the bills will be introduced in the Parliament of Malta.
Do you think policies outlined by Maltese authorities will attract more crypto businesses to the island nation? Share your thoughts in the comments section below.
Images courtesy of Shutterstock.
Bitcoin News is growing fast. To reach our global audience, send us a news tip or submit a press release. Let’s work together to help inform the citizens of Earth (and beyond) about this new, important and amazing information network that is Bitcoin.
The post Malta to Give “Peace of Mind” to Crypto Companies appeared first on Bitcoin News.
Source: https://news.bitcoin.com/