Paying Salaries in Bitcoin to be considered in Israel

The solution to encourage talented specialists of the technological firms with Bitcoin is presently being mulled by the authorities of Israel
14 June 2018   415

Israel companies are generally known by high salaries, conductive working conditions and regular promotions. But all these things are not enough: nowadays the officials of the state are thinking about the encouraging perspective specialists with salaries in Bitcoin. 

The Example has been given by the company Spot.IM. The client asked the officials about a permission for paying its employees` wages in bitcoin. Such cryptocurrencies as Bitcoin are hardly regulated by the security and taxation systems in Israel. In order to overcome all the possible difficulties, Spot.IM is aimed to solve these problems by setting the airbag arrangement with the state authorities. Presently the negotiations with the Israel Securities Authorities are kept. First of all, the exchange rate is being discussed, as it is necessary to consider the volatility of Bitcoin exchange rate.

As soon as all the agreements with the agency would be reached, this issue can be transferred into the Ministry of Labour coordination. The ministers of the structure are  already concerned with the matter and are to be involved in making the decision in near future. Spot.IM is going to take on the costs of conversion. 

The specialists of the technological company Spot.IM are confident about the future of cryptocurrencies, but actually the firm is not yet involved with them. Among the customers of Spot.IM are such news services as Time Magazine, NBC, Huffington Post, Engadget, Fox News and others. Spot.IM is responsible for the social interactions and commentary on these resources. Since the establishing in 2012, the company managed to raise $38 million. In November of 2017 the firm gained $25 million, partially these earnings are owned by the Russian billionaire Roman Abramovich.

Crypto Billionaire to Lost 5.5k BTC Due to Fraud

Thai scammers convinced 22 yo Finnish crypto billionaire to invest in their 'investment' scheme
13 August 2018   284

The 22-year-old cryptocurrency millionaire lost more than 5,500 bitcoins after taking part in the investment scheme in Thailand. The case attracted public attention because of the possible participation of a Thai actor. This is reported by Bangkok Post.

A group of scammers in June 2017 persuaded Finnish businessman Aarni Otawa Saarimaa to invest in several Thai securities, a casino in Macau and a crypto currency called Dragon Coin.

Scammers claimed that Dragon Coin could be used in Macau casinos. In addition, they brought Saarimaa to this casino to demonstrate the legitimacy of their project. Saarimaa transferred 5 564 BTC to fraudsters.

In January, without receiving any income for his investments, Saarimaa filed a complaint with the Crime Suppression Division's (CSD), along with his local business partner, who believed that this investment scheme was fraudulent.

CSD began to investigate the case and stated that the group made no investment for Saarimaa, instead transferring all the bitcoins to Thai baht and placing these funds on seven bank accounts.

Although it is not clear when exactly the scammers sold the bitcoins, CSD announced that they raised about 800 million baht or about 24 million dollars.

Then followed a months-long investigation, according to which CSD began to suspect that the Thai film actor Jiratkisit "Boom" Jaravijit also took part in the fraudulent scheme - he was arrested last Wednesday.

In addition, the CSD stated that it suspects the actor's brother, Princess Jaravijit, as the "instigator" of this entire scheme. He left Thailand, traveling to South Korea, and then to the United States. According to the Bangkok Post, CSD is currently working with the US to track him down.