Coinbase Seeks 'Invasive' Details on US Bitcoin Mining Operations
Coinbase's compliance office is seeking to acquire operational information from bitcoin mining companies in a process that some of the sector's businesses are framing as an infringement on their trade secrets. MegaBigPower (MBP) and Bitmain report that Coinbase has asked for detailed information regarding their mining facilities, requesting time-stamped photographs and videos of mining facilities and details about the origin of the hardware the companies operate. An email dated 25th March sent to MBP owner Dave Carlson and obtained by CoinDesk stated: "As a followup to our previous....
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Coinbase's compliance office this week revealed that it in order to fully comply with regulations, the company was implementing new rules that would enable the exchange to acquire operational information from bitcoin mining companies. Of course, that mining companies weren't too happy to hear this. Besides going against all that bitcoin should stand for, it is also considered an attack on mining company's financial privacy. Immediately after being released, the community started to criticize these new rules, while Coinbase tried to excuse for the demands claiming it needed more....
Cryptocurrency exchange Coinbase has revealed its plan to expand in several European markets. The company is reportedly in the process of registering a crypto exchange in Spain, France, Italy, and the Netherlands.
Coinbase Expanding in Europe
Coinbase Global Inc. (Nasdaq: COIN) is reportedly planning to expand operations in Europe, Bloomberg reported Wednesday, citing an interview with Nana Murugesan, Coinbase’s vice president of International and Business Development.
Noting that Coinbase is focused on growing its presence in Europe, the executive revealed....
Crypto exchange, Coinbase is now considering on an expansion outside America to Europe, thereby increasing its scope and stretching its operations outside the home market. The crypto exchange currently is in the process of registering in markets which includes Spain, Italy, France and Netherlands. The exchange has a presence in the U.K, Ireland and also […]
The Spanish tax authorities have classified cryptocurrency mining operations as taxable economic activities. Regulations concerning cryptocurrencies minting are gradually falling in place. While a lot of countries are yet to implement them, the Spanish tax authorities have labeled Bitcoin and altcoin mining operations as economic activities. This new classification makes cryptocurrency mining taxable. The latest notice, penned by the National Directorate of Taxes of Spain, requires Bitcoin and altcoin mining companies – as well as individuals – to register themselves. The move, however....
Bitcoin mining may have taken the backseat to other cryptocurrency product developments these days but 21 Inc still focusing on this aspect, as the company announced its plans to mass-produce mining tools. The company recently released new details on their marketing strategy for distributing bitcoin mining chips that can be used in consumer and enterprise devices. Prior to this, the company has been involved in fine-tuning its operations related to bitcoin payments. However, the secretive San Francisco-based startup seems to have other expansion plans in mind. Bitcoin Mining Potential.....