A Mass Phony Email Sent to U.S. Media

Several U.S media sources received an email  from an individual claiming to be a representative of the People’s Bank of China (PBOC)  
08 February 2018   177

According to reports, a mailbox of the People’s Bank of China was hacked. The email which was sent to several U.S media resources contained a fake invitation to a press conference for media, the PBOC, and the Hong Kong Monetary Authority (HKMA).

The email claimed that on February 14  the HKMA and PBOC were about to jointly introduce new measures to crack down on all aspects of Bitcoin services between mainland China and Hong Kong.

According to the email, the HKMA and PBOC would have introduced new statutes that would end all businesses and services connected to the cryptocurrency industry.

In addition to this, the email indicated the implementation of new laws which could have made make crypto mining illegal.

Experts believe that this email was a kind of a bogus attempt to manipulate the price of Bitcoin and to cause more panic throughout the cryptocurrency community. The invitation could be a ruse of traders willing to profit from a further decline of cryptocurrencies.

According to the president of the Hong Kong bitcoin association, Leonhard Weese, the purpose of the email was to manipulate the news in order to have some effect on the price in a market. He believes that such kind of manipulation is effective in an immature market with a very low barrier to entry.

Fortunately, that was a mainstream media FUD.

2k Confiscated BTC Created Issue for Finland Authorities

Authorities of Finland had faced bureaucratic problems while trying to handle seized crypto coins
20 February 2018   6

Finland is trying to solve confiscated Bitcoin storing issue. This is reported by Bloomberg.

The crux of the problem is that authorities handling the coins won’t be able to store them on virtual currency exchanges due to bureaucratic problems. They have to store them offline. This is said in the documents, seen by the Bloomberg.

Most of the coins have been confiscated in raids conducted since 2016. There is no info how the coins were stored until now.

The official guidelines states that Finland authorities can’t treat Bitcoin or its crypto competitors like a currency. It’s an asset that, as a rule, can’t be used or accepted as a means of payment or as an investment, according to the Treasury document.

Cryptocurrencies seized by the Finnish state can be converted into euros after a court ruling on their appropriation has become binding. The sales should primarily take place via public auctions rather than commercial exchanges, which can be untrustworthy and opaque, the Treasury said.

Finnish state can convert seized crypto to euros only after a court ruling on their appropriation has become binding. The sales should primarily take place via public auctions rather than commercial exchanges the Treasury said.