News of the week

Bitcoin Launderer Alexander Vinnik Wants Extradition to Russia

Former operator of crypto exchange BTC-e, Alexander Vinnik, has appealed with a Greek court for his extradition to Russia. Vinnik is accused of fraud and laundering as much as $4 billion in Bitcoin over the course of six years. Russia’s Commissioner for Human Rights Tatyana Moskalkova asked both the United Nations High Commissioner for Human Rights Michelle Bachelet and Greek Justice Minister Michalis Kalogirou to help extradite Vinnik to Russia. The petition was lodged in connection with Vinnik’s deteriorating health following a hunger strike he started last November.

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Binance CEO: ‘Everyone Will Be in Crypto’

Changpeng Zhao, the CEO of cryptocurrency exchange Binance, sent out a tweet that suggested he disagreed with JP Morgan executive Ron Karpovich that banks would always be needed for moving funds.

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Alibaba to Promote Blockchain Development

Chinese e-commerce conglomerate Alibaba and Aerospace Information Co., a major software developer and provider, have signed a strategic cooperation agreement for cloud computing, blockchain and other technological services development. The two parties have agreed to take advantage of their respective brand technologies “to actively integrate resources and carry out in-depth cooperation” in in the fields of cloud computing services, finance and taxation, government affairs and blockchain technology, among others.

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US Missoula County Considers Requiring Crypto Miners to Use Renewable Energy

The official website of the United States Missoula County in Montana reports that the country commissioners have discussed regulation of cryptocurrency mining. Two drafts were released, one being the Cryptocurrency Mining Resolution and the other one the Cryptocurrency Mining Zoning Overlay District Regulations. The latter draft “establishes locations where cryptocurrency mining operations may be sited in Missoula County and conditions that must be met in order to protect the public health, safety, morals, and general welfare of county residents.” In particular, the document puts an emphasis on the possible effect on global warming and electronic waste.

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Crypto AriseBank CEO Pleads Guilty to Deceiving Investors in $4.2 Million Case

The former CEO of reported cryptocurrency scam AriseBank has pleaded guilty to defrauding victims of over $4.2 million. Jared Rice, whom the FBI arrested over securities and wire fraud in November last year, confessed to his activities. Rice had allegedly falsely claimed that AriseBank could offer customers “FDIC-insured accounts and traditional banking services, including Visa-brand credit and debit cards, in addition to cryptocurrency services.” Rice is about to face 20-year jail term. In total, AriseBank seized $4,250,000 from participants, which Rice may now have to repay in full.

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TZERO Exchange to Launch Bitcoin Trading App This June

Overstock’s security token platform tZERO is going full crypto. Te exchange plans to launch its own mobile trading app for buying and selling bitcoin and, possibly, ether. The app for IOS and Android devices is scheduled to launch in June and is being developed by Bitsy — a crypto startup in the portfolio of Overstock’s venture arm Medici Ventures.

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