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Russian Police Take Down an Illegal Bitcoin Mining Farm

[ad_1] Russian police have caught bitcoin miners who were stealing $200,000 worth of electricity each month in their efforts to mine cryptocurrency.According to a statement released by the Russian Interior Ministry, a Saint Petersburg suspect has been arrested, along with nine alleged accomplices.The criminals managed to install sophisticated infrastructure that connects mining equipment to the country’s electricity supply at eight different locations, the Interior Ministry stated.Seized elements during the raidsIn
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Cryptocurrency Accounting Firm Launches Library of Legal and Tax Advice

[ad_1] Cryptocurrency accounting company, Lukka, has announced the launch of the Lukka Library — an interactive collection of academic papers addressing legal, accounting, and tax questions pertaining to crypto assets.On March 26, Cointelegraph spoke to Lukka co-CEO, Robert Materazzi, and Lukka Library creator and head of tax and regulatory affairs, Roger Brown.“People weren’t interested in paying their taxes in 2014”Materazzi states that the company was formed under its former brand,
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TON Community: ‘No One Can Prevent the Launch of TON’

[ad_1] Developers of the TON blockchain are still considering deployment, despite injunctive ruling by the U.S. court.Fedor Skuratov, a spokesperson for TON Labs, the organization behind the TON blockchain, told Cointelegraph that the recent unfavorable decisions by the U.S. court did not catch them by surprise:“The community was ready for this (or another) scenario. We have several options, including the launch of TON by TCF [TON Community Foundation]. I will
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Binance Reveals the Secret Behind Its Cryptocurrency Futures Success

[ad_1] Aaron Gong, vice president of futures at major cryptocurrency exchange Binance, explained to Cointelegraph how the firm managed to become one of the top crypto futures trading platforms.As Cointelegraph reported earlier this week, Binance recently overtook BitMEX and became the second-largest platform in terms of 24-hour Bitcoin (BTC) futures trading volume. When asked whether he is surprised by such success, Gong said that the firm created the product with
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Stage One of ‘Risky’ EOS Worker Proposal System Approved

[ad_1] Block producers have approved the first stage of the implementation of a controversial EOS governance change that allows any user to propose network rule changes.EOS blockchain explorer Bloks shows that the first phase was approved on March 24. EOS Nation — the block producer (BP) who proposed the system — claimed in a recent tweet that the 34 positive votes by BPs on the proposal is “the strongest consensus
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Matic Lets Us Scale More than Loom Network: Ethereum-Based VR Platform

[ad_1] Ethereum-based virtual-reality (VR) platform Somnium Space has moved from scalability solution Loon Network to Matic to enhance scaling.On March 23, Somnium Space said that it hopes the transition will allow it to achieve scalability and provide a superior user experience. The firm explained:“By implementing Matic’s high-performance Plasma-based sidechains, Somnium aims to solve any future issues around scalability and user experience such as high-throughput, fast confirmation times, and negligible transaction
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Celo Alliance Is out to Challenge Libra, Hoping for Less Red Tape

[ad_1] Several members of the Facebook-backed Libra Project have announced their alliance with a rival stablecoin project known as Celo. Since the middle of March, members that have joined the Celo Alliance for Prosperity include, among many others, Coinbase Ventures, Anchorage Mercy Corps, Andreessen Horowitz and Bison Trails Co. The shift in interest from one project to the other may signal the ultimate demise of Libra, as several companies have
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Zcash Reward-Distribution Vote Questioned as Only a Small Sample Took Part

[ad_1] At the end of January, a poll apparently confirmed community support for a new mining reward-distribution structure for the Zcash (ZEC) network, whereby more will flow into the developer fund. Still, the decision proved to be rather controversial.Electric Coin Company, the firm behind Zcash, announced in a Jan. 2 blog post that a community poll on the Zcash Improvement Proposal 1014 — referred to as ZIP 1014 — showed
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Steem Community Resists Takeover, Hard Fork Launches Hive Network

[ad_1] The Steem (STEEM) blockchain community continues to oppose Steemit in the wake of the recent “takeover” orchestrated by Justin Sun, the startup’s new owner. On March 18, “a large group of Steem community members” announced its intention to hard fork the Steem blockchain and create a new platform called Hive.The network split that was scheduled for Friday, March 20, successfully took place at around 10.30AM CET, and the market