Bitcoin Robbers to be Busted in Singapore

Two 36-year-old men have been arrested in Singapore after allegedly stealing $365,000 in cash from a Malaysian man who wanted to buy BTC from them
13 April 2018   845

Pang Joon Hau in Singapore was robbed at $ 365,000 during a personal meeting with the prospective seller. This is reported by Cointelegraph.

According to the announcement of the Singapore Police, the crime was committed on April 8. After the victims appealed to the police, the law enforcement officers managed to establish the identity of the suspects and detain them.

One of the suspected, Mohd Abdul Rahman Mohama, allegedly said he was a part-time Bitcoin broker. He is reported to have given his accomplice Syed Mokhtar Syed Yusope about $10,000 and himself spent around $80,000 on luxury staff, including a Rolex watch worth $45,800. The remaining $271,000 are yet to be accounted for.

Detainees face punishment in the form of imprisonment for up to 5 to 20 years and at least 12 strokes with sticks. The authorities do not say whether they managed to return the cash, which became the prey of intruders.

The Police will not condone anyone committing such serious offences and profiting from the proceeds of the crime.  We will spare no efforts in pursuing such criminals and deal with them in accordance with the law.
 

Arthur Law

Commander of Central Police Division and Assistant Commissioner, Police 

This case marks one of the first crimes associated with bitcoin, committed in Singapore.

SEC to Need More Info on BTC ETF

SEC is gathering more input from the public – to date, according to the agency, more than 1,400 comments have been submitted
21 September 2018   134

The US Securities and Exchange Commission (SEC) announced the beginning of a formal process for considering the application for the creation of bitcoin-ETF from the New York companies VanEck and SolidX. Nevertheless, the agency appealed to the community for more information. This is stated in the document published on the SEC website.

Institution of such proceedings is appropriate at this time in view of the legal and policy issues raised by the proposed rule change. Institution of proceedings does not indicate that the Commission has reached any conclusions with respect to any of the issues involved. Rather, as described below, the Commission seeks and encourages interested persons to provide comments on the proposed rule change.
 

The US Securities and Exchange Commission

At the moment, the SEC received about 1,400 comments.

According to the document, the Chicago Board Options Exchange (CBOE) has signed an agreement on the exchange of data on bitcoin transactions, trading and the state of the market with the cryptocurrency trading platform with Gemini.

The agency asked commentators to clarify the position of Gemini in the digital currency market and assess the likelihood of increased volatility at this site in connection with possible trades of bitcoin-ETF.

So, before September 30, the department had to decide on whether to approve, deny or initiate the proceedings. The SEC chose the latter, which is likely to delay the process until the next year.