Bitcoin

Bitcoin Daily: BitBay Will No Longer Support Monero’s XMR; Bitcoin ATMs Coming To More Shopping Malls

BitBay ending support for Monero XMR

BitBay has announced that monero (XMR) will no longer be tradeable starting in February 2020. The crypto exchange will end deposits of XMR as of Nov. 29, and will block withdrawals from Friday to Dec. 5, which is around the time of a planned monero hard fork.

“The decision was made to block the possibility of money laundering and inflow from external networks,” the firm said, adding that other crypto exchanges have dropped monero over the same concern. “As a licensed exchange, BitBay has to follow the market standards. Compliance with market standards and regulations allows us to provide our clients with legal security and convenience of using the exchange, with the participation of a friendly banking system and the availability of payment operators,” BitBay said.

In other news, a judge has ordered Telegram’s founder and CEO Pavel Durov, as well as two other employees, to testify in its case against the Securities and Exchange Commission (SEC).

In addition to Durov, District Judge P. Kevin Castel has also ordered Telegram Vice President Ilya Perekopsky to be questioned, as well as Shyam Parekh, a Telegram employee who’s name was on the firm's letters to investors.

C Labs, which is working on mobile-friendly crypto payments tool Celo, has hired Jai Ramaswamy, a former U.S. government official and bank executive.

Ramaswamy was most recently the head of enterprise risk management at Capital One, and was also previously the managing director and global head of AML compliance risk management at Bank of America. Before moving into the private sector, he worked for the U.S. Department of Justice on illegal financial issues affecting national security.

“I’m interested in helping [C Labs] understand its overall risk profile,” Ramaswamy said.

And Bitstop has announced a partnership with Simon Malls to bring a fleet of Bitcoin ATMs to various shopping destinations.

“With the strategic timing of this new installation of Bitcoin ATMs at Simon Mall locations, customers can conveniently buy Bitcoin while doing their Black Friday and Christmas holiday shopping,” said Andrew Barnard, Bitstop co-founder and CEO. “Bitcoin is the perfect gift for family and friends this holiday season. Our Bitstop Bitcoin ATM mall locations are at the forefront of a trend as Bitcoin and digital currencies become part of the mainstream culture.”

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