The Best in Crypto – 1/30/18

Texas Orders Suspected ‘Cryptocurrency Bank’ Scam to Leave State 

Texas regulators issued an unconditional cease and desist order to the ‘cryptocurrency bank’ AriseBank on Jan. 26., halting services to state’s residents (Cointelegraph).

Crypto Death Threat Scams More Frequent, FBI Warns Cases Are ‘Heavily Underreported’

The FBI has warned internet users about false death threats as a new method of cryptocurrency extortion (Cointelegraph).

Google’s DoubleClick Ads Used to Distribute Crypto Mining Software

Google’s DoubleClick Ads were used to distribute cryptocurrency mining malware to various users in Asia and Europe. Security firm TrendMicro outlined how the company CoinHive ran a JavaScript program working in the background of websites and used the computer processing power to mine Monero (Coindesk).

German Regulator Orders Crypto Exchange to Halt Brokerage Business

After users claimed they never received funds, a Berlin-based exchange Bmgh was ordered to immediately stop acting as a financial broker by the German Financial Supervisory Authority (Coindesk).

Bitcoin Prices Slide as Japan Cracks Down on Coincheck After Hack 

Bitcoin prices slide after the biggest crypto breach. Over the weekend, Coincheck said it would use its own funds to pay back the customers who were hacked of 46.3 billion yen ($426 million) (MarketWatch).

Why Bitcoin Has Inflation Risk

The loss of value due to Phantom Bitcoin, which are Bitcoins mined/bought that are now missing/unusable, is described. A study conducted last year found about 22 percent of Bitcoins are missing, leaving as little as 13.21 million Bitcoins to actually be transacted (Forbes).

Bitcoin and Taxes: What You Need to Know about Cryptocurrency and the IRS 

Questions like, “Do I have to declare money made with Bitcoin?” and “How much do I have to pay?” are answered (Fortune).

A Court is Going to Decide Whether the Government Can Regulate Bitcoin Like Stocks

Federal judges in Brooklyn, New York are about to rule on of whether or not the U.S. has the authority to regulate cryptocurrency (Fortune).

A Debate About Bitcoin is a Debate About Nothing 

An article doubting the knowledge and capabilities of self-described “cryptogeniuses,” and the substance of what is discussed in cryptocurrency debates (Fortune).

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