US Authorities seize 94.000 BTC, Russia to treat Bitcoin as currency and Wells Fargo about ‘hyper-adoption’
US Authorities seizes 94.000 BTC linked to 2016 Bitfinex hack
According to the US Justice Department, a New Yorker-based couple has been detained for allegedly plotting to launder millions of dollars worth of cryptocurrencies.
Federal law enforcement agencies have connected the recovered 94.000 BTC to the Bitfinex breach of 2016. This was the biggest haul ever for the department. According to the authorities, approximately $71 million in stolen bitcoin was moved to an external digital wallet during the 2016 attack. As of this writing, the value of the stolen bitcoin is more than $4.5 billion.
The two suspects were taken into custody in Manhattan, New York City, on Tuesday morning. Sophisticated money laundering procedures are said to be used by them. They’ve been charged with conspiring to launder money and conspiring to defraud the United States, according to federal authorities.
Russian government and central bank agree to treat Bitcoin as currency
The government and central bank in Russia have reached an agreement on how to regulate cryptocurrencies, according to a Tuesday announcement.
Russia’s government and central bank are now working on a draft law that will define crypto as an “analogue of currencies” rather than digital financial assets, set to be launched on Feb. 18. Cryptocurrencies would function in the legal industry only if they have complete identification through the banking system or licensed intermediaries.
Kommersant notes that Bitcoin (BTC) transactions and possession of cryptocurrency in the Russian Federation are not prohibited; however, they must be done through a “digital currency exchange organizer” (a bank) or a peer-to-peer exchange licensed in the country.
Source: Cointelegraph
Wells Fargo compares Bitcoin to mid-to-late ‘90s
According to new research from financial services and banking behemoth Wells Fargo, cryptocurrencies may be approaching a ‘hyper-adoption phase’ similar to the one experienced by the internet in the mid-to-late 1990s.
Despite being in the early phases of their investment evolution, Wells Fargo believes cryptocurrencies are viable assets today. According to research from the bank’s Global Investment Strategy Team, the cryptocurrency investing landscape is still growing.
Wells Fargo analysts advise investors to stick to professionally managed private placements for the time being.
Source: Cryptoknomics
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