LA Woman to Face Sentence For Illegal BTC Trade

Prosecutors say the 50-year-old Theresa Tetley's business 'fueled a black-market financial system'
12 June 2018   873

A 50-year-old resident of Los Angeles is accused of illegal provision of financial services, since she traded cryptocurrency without the necessary license, thereby violating federal law. The prosecutor's office insists on imprisonment of Theresa Tetley for up to 30 months, NBC Los Angeles reportes.

In the period from 2014 to 2017, the cryptotrader under the nickname Bitcoin Maven was active in LocalBitcoins, earning about $ 300,000 on bitcoin annually. During this time, she carried out transactions in the amount of $ 6 million to $ 9.5 million.

According to the prosecutor's office, Tetley's business, which went beyond the regulated banking industry, fueled the black market of the central district of California.

The prosecution party also insists on confiscating 40 bitcoins, $ 292,264 and 25 gold bullion seized by law enforcement officers in March.

The verdict against Tetley, who had previously confessed her guilt, was due on Monday, but was postponed indefinitely.

Bitfury to Unveil BTC's Lightning Network Tools

An open-sourced LN wallet, software and hardware payment acceptance solutions, etc
23 January 2019   77

Bitfury Group presented a number of tools designed to foster the development of the Lightning Network (LN), CoinDesk reports.

Among them: an open-sourced LN wallet, software and hardware payment acceptance solutions for merchants and payment processing. The company also introduced tools for developers and an open-source LN node called The Peach.

According to Bitfury representatives, all these tools are designed to make working with a second-level network easier and more convenient for companies and ordinary users. New products created by the Lightning Peach team.

By providing these products to the market, Bitfury is encouraging worldwide adoption of this technology and providing unparalleled support to consumers and merchants.

Valery Vavilov

CEO, Bitfury

Among other things, last week Bitfury added support for LN solutions on the BTCBIT cryptocurrency exchange.