Things Bitcoin Buys: An Offshore Safety Deposit Box
Bitcoin users will soon be able to use their digital cash to purchase offshore safety deposit boxes, according to an announcement made by Cofres Bitcoin on Thursday. The company, who's working in concert with Swiftcoin exchange First National BNAK, is offering what they are calling "state of the art" safety deposit boxes at the Plaza Independencia 823 building in Montevideo, Uruguay. According to Cofres, per client request, each of the boxes will be Swiss-style numbered accounts that will make use of a Swiftcoin address - serving at the only identifier of the client. Of course, we won't....
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The Federal Bureau Investigation (FBI) is under fire for an alleged unconstitutional seizure of 800 safety deposit boxes in Beverly Hills. According to reports, the FBI confiscated $86 million in cash, jewelry, and thousands of gold and silver bars. Box holders and their lawyers are calling out the federal law enforcement agency for lacking sufficient proof that the boxes held evidence of being tied to specific crimes. Abuse of Power? Lawyers Believe the FBI Seized People’s Life Savings in an Unconstitutional Manner The FBI has seized over 800 safety deposit boxes that were located....
Mysterious yet popular crypto-currency exchange BTC-e announced on Sunday that customers will now be able trade with the Chinese Yuan. The announcement: We are pleased to inform that new trading instruments with Chinese offshore Yuan has been added. Now btc-e clients can trade 3 new instruments. A unique trading instruments that enables you to benefit either from price fall or increase are now available in your btc-e MetaTrader4 and WebTrader platforms under following symbols: USD/CNH (available on WebTrader only), BTC/CNH, LTC/CNH. The following are trading terms outlined by BTC-e for....
The recovery in the price of various crypto over the last week has been evident in various areas of the market, and the offshore premiums have not been let out. The offshore basis numbers also reflect the returning positive sentiment across both retail and institutional investors. This turn of the tide from the brutal June […]
The Financial Crimes Enforcement Network wants U.S. persons who hold crypto in offshore accounts to report holdings over $10,000.
The Federal Deposit Insurance Corp. is advising banks to contact it if they are currently engaged in or intend to engage in cryptocurrency-related activities. The FDIC notes that exposure to crypto assets may pose “safety and soundness hazards, as well as financial stability problems.” The FDIC, the country’s top banking regulator, said lenders considering dabbling […]