The Week in Bitcoin – March 11

India lifts ban on cryptocurrency, Facebook rethinks Libra

India Lifts Ban On Cryptocurrency
India’s Supreme Court just lifted a two-year ban on cryptocurrency trading and activity, and it’s a big deal. India is home to over 1.4 billion people. Many are calling it a ‘historic moment’ for their financial freedom. Companies that were previously shut down in 2018 after the central bank ban can now resume participation in the financial revolution. Exciting times for the country. Read More

South Korea Passes Crypto Reporting Act
The South Korean government just legitimized the holdings of cryptocurrency in a new amendment. Exchanges in the industry were now given clear standards on reporting and guidelines for how to handle their user base with regards to money transmission laws. This is great news for the industry in Korea, as many companies will now have an easier time gaining trust and confidence from all aspects of their businesses. Read More

Facebook Rethinks Libra Project
Rumor has it that Facebook is rethinking its Libra project scope. Apparently, Facebook is considering using the Libra Wallet to host stablecoins and central bank digital currencies, rather than their own Libra currency as originally planned. If true, it would seem that Facebook sees too many regulatory hurdles to pull off their own coin by the end of the year. The wallet is scheduled to launch this Fall. Read More

NY Power Plant Is Mining Bitcoin
A natural gas facility in New York has been quietly mining Bitcoin with cheap, surplus energy. They’re churning out about 5.5 BTC per day and claim they’re positioned well for the upcoming Bitcoin halving. Read More

Bitcoin Dips Under $8k
Remember, you can visit one of our 3,500+ Bitcoin Kiosk locations across the country and top up your Coinme wallet instantly. You can also chat with one of our personal advisors through Private Client Services, who are happy to help you with any transaction over $5,000.

Wishing you the best,

-Your Coinme Team

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