Russian Central Bank approves first crypto exchange

Russia’s central bank has approved the country’s first cryptocurrency exchange called “Voskhod”
05 September 2017   994

While China bans ICO, Russia is getting closer to legalizing and regulating cryptocurrencies.

As reported by news.bitcoin.com, the Russian Deputy Finance Minister, Alexei Moiseev has proposed Bitcoin regulation and the possibility of digital assets being listed on Moscow’s stock exchange. Now the country’s Deputy Prime Minister, Yury Trutnev claims the Russian Federation Central Bank has approved the first cryptocurrency trading platform for private investors. The exchange is called “Voskhod”.

We are considering the possibility of creating a platform for trading with cryptocurrencies. The central bank has supported us. The system “Voskhod” was the first in the country to receive the right to work with cryptocurrencies.
 

Yury Trutnev
Russia’s Deputy Prime Minister 

The news comes along with the information about the two of the nation’s energy companies, Evrosibenergo and Gazprom, possibly partnering with local Bitcoin miners. As Trutnev details, there's an abundance of electricity in particular regions within the nation that could help the mining industry a great deal.

'Kodak Miner' Turned Out to be a Scam

KashMiner by Spotlite USA was promoted as Kodak branded bitcoin miner 
17 July 2018   137

The KashMiner bitcoin miner, exhibited at the Kodak stand during the CES technology show in Las Vegas, was in fact a product designed to mislead potential consumers and with a potentially unattainable potential return. This is reported by BBC.

Spotlite USA is licensed by Kodak's lighting division, which allows it to use the famous brand in its products. In January 2018 the company introduced its miner and announced that it intends to lease it. According to its business plan, potential users had to pay a commission before getting the device. It was expected that after depositing $ 3,400, the customer will receive a device that will allow him to easily cover expenses and receive revenue from bitcoin mining.

However the company did not have an official Kodak license to use the brand in the production of mining equipment and initially overstated the indicators of the potential profit of its device, refusing to take into account the growing complexity and costs of bitcoin mining. The advertising materials reported that KashMiner brings $ 375 a month, which, subject to a 2-year contract, would allow the client to receive $ 5,600 of profit after paying a commission. Experts from the industry of cryptocurrency call this offer a scam.

There is no way your magical Kodak miner will make the same $375 every month.
 

Saifedean Ammous

Economist

CEO Spotlite USA Halston Mikail previously reported that he plans to install hundreds of miners at the headquarters of Kodak. According to him, he already managed to place 80 miners there, but the Kodak spokesman denied this information.

While you saw units at CES from our licensee Spotlite, the KashMiner is not a Kodak brand licensed product. Units were not installed at our headquarters.
 

Kodak Spokesman

In a phone call with the BBC, Spotlite's Halston Mikail said the US Securities and Exchange Commission (SEC) had prevented the scheme from going ahead.