Bitcoin

Bitcoin Daily: Chinese TV Mines Bitcoin; Bitcoin ATM Growth Slows In July

Bitcoin Daily

The Telangana state government in India is teaming up with Tech Mahindra to create a “blockchain district” in Hyderabad, CoinDesk reported. The area is said to contain buildings that will be home to blockchain startups, and the move comes amid a blockchain push from the Indian government.

Coinbase is back in Wyoming after it stopped offering services in the state three years ago, CoinDesk said. The crypto firm had pulled out of Wyoming after the company said the state didn’t provide clarification for the firm in the Money Transmitter Act. However, in March, legislators offered a virtual currency exemption in the act, and the company had its money transmitter license renewed.

Financial institutions (FIs) and banks in Thailand, along with their subsidiaries, can now engage in crypto activities with some rules and restrictions in place, noted Cryptovest. Firms will not be able to roll out “digital credit cards,” for example, and transaction will face “rigorous risk management.”

Group-IB found that the number of compromised accounts on crypto exchanges has jumped by nearly 370 percent since last year, The Next Web reported. According to data shared with the outlet, one-third of cryptocurrency crime victims were from the U.S.

The growth of bitcoin automated teller machines (ATMs) appears to be slowing, Cryptovest reported. While 187 bitcoin ATMs opened in July as 132 closed, 282 bitcoin ATMs opened in June and only 60 closed. The report also noted that the decline of crypto prices has created a market for used bitcoin ATMs.

In other news, South Korean DNA sequencing firm Macrogen is teaming up with Bigster to create a network based on the blockchain for genomic information, according to CoinDesk. Macrogen CEO Kap-Seok Yang said in a release that genomic information is not typically easy to share but “with the blockchain platform we seek to build this time, we expect to create an ecosystem that can freely distribute genetic data.”

Goldman Sachs is reportedly considering rolling out a crypto custody service, CoinDesk said. According to the report, anonymous sources claim that the bank is thinking of creating a secure system for crypto funds and that such a service could pave the way to other services related to crypto.

The Japan Virtual Currency Exchange Association (JVCEA) is seeking to become a “certified fund settlement business association,” CoinDesk reported. The move would essentially allow the group, which consists of Japanese crypto exchanges, to create rules for self-regulation of crypto trading.

Canaan Creative, a Beijing-based company, has unveiled a television that can mine bitcoin, Cryptovest reported. The set, which is dubbed AvalonMiner Inside, will provide viewers with a bitcoin mining profitability calculation. In addition, the viewers will be able to use their mined crypto to buy physical gifts and entertainment content.

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