Cryptocurrency Market Updates

The Chelan county Public Utility District (PUD) commissioners discovered that there was unauthorized cryptocurrency mining taking place in the county and have ordered the enforcement of the crypto-mining moratorium.

Bitmain, the China-based tech giant announced through a tweet the release of the new Ethash ASIC miner called the Antminer E3.

The authorities in South Korea have arrested 14 people who are reported to be involved in bitcoin mining operations using illegally subsidized electricity. They are suspected to have been running these operations since May of last year.

It has been reported that the Ministry of Strategy and Finance in South Korea will release a new framework for the taxation of cryptocurrencies by the end of June this year. However, a spokesperson from the Ministry said that they do not have a set time frame by which this new framework will be ready, but it should be in the first half of the year.

The Internet Crime Complaint Center (C3) of the FBI posted a Public Service Announcement, warning users about frauds acting as technical support in multiple industries, including cryptos.

Public documents have revealed that the popular messaging service app provider Telegram has raised another $850 million through its ICO private sale, taking the total funds raised to $1.7 billion.

Ripple, the blockchain-based payments network, just donated $29 million of its own XRP cryptos to American public schools. This step answered the needs about 35,000 different funding requests from teachers through the DonorsChoose charity.

Russian, Chinese as well as South Korean crypto & blockchain associations are joining hands to file a lawsuit against Facebook, Google, Twitter and Yandex in May for the companies banning crypto-related ads.

In the latest news, Ford Motor Company, the American can maker, has filed a patent for a system that would help smooth traffic flow. The system, called Cooperatively Managed Merge and Pass (CMMP) would involve communication between cars in traffic through the exchange of crypto tokens.

The Litecoin Foundation, which oversees the development of Litecoin, announced on Monday that the merchant processor for the crypto, LitePay, suddenly shut shop. The startup launched its services on February 1 this year and claimed to offer crypto-wallets as well as a LitePay Debit Card which users could use to change Litecoins into US dollars.