Bitcoin in Brief Tuesday: NY Regulator Approves Bitcoin Cash, Zcash and Litecoin Trading

The slow but steady growth in the limited trading options available to American investors on regulated exchanges is the main focus of today’s edition of Bitcoin in Brief. Additionally covered are a surprise resignation, another ransomware attack, and much more.

Also Read: Steve Eisman of ‘The Big Short’ Fame: What Value Does Cryptocurrency Actually Add?

NYDFS Approves Expanded Crypto Portfolio

New York State Department of Financial Services Superintendent Maria T. Vullo has announced on Monday that Gemini Trust Company LLC has been authorized to offer the custody services and trading of Zcash, Litecoin and Bitcoin Cash on its exchange based in NYC. She said: “This action continues New York’s longstanding commitment to innovation and leadership in the global marketplace. With smart and thorough regulatory oversight, the development and long-term growth of the industry will remain thriving.”

The addition of Zcash especially seems to have taken the market by surprise, leading to its price jumping over 40% in the last twenty-four hours. Back in March, the founders of the trading venue revealed that adding new cryptocurrency options are high on the company’s agenda this year, with BCH and LTC at the top of the list. Tyler Winklevoss, CEO of Gemini, commented on Monday: “We are proud to be the first licensed exchange in the world to offer Zcash trading and custody services and look forward to providing customers with a safe, secure, and regulated place to buy, sell, and store Zcash, an incredible new form of digital cash.”

Surprise CEO Resignation

Chris Lee, Chief Executive Officer at Chinese-run cryptocurrency exchange Okex, has reportedly left his position with the Hong Kong based company. Lee cited personal reasons for his departure, seeking to “start a new life,” the exchange stated on Monday. According to his spokeswoman, Lee added it had been the “greatest pleasure and an honor” to work at Okex and that he will return to the blockchain community after a short break to spend time with his family. The surprising move raised some speculations online as for the reasons.

$1 Million Bitcoin Heist Foiled

According to media reports from the state of Georgia, the Forsyth County Sheriff’s Office found that five young men had conspired to break into a local home and steal nearly $1 million in bitcoin. Their robbery investigation has reportedly been ongoing since January, following a drug bust. The five young men, Justin Ellison, Trivette Adams, Matthew Schwartz, Jacob South, and Michael McDermont, have been charged with residential strong arm robbery and are being held in a detention center without bond.

Australian Sexual Health Provider Held for Ransom

Family Planning New South Wales, one of Australia’s largest reproductive and sexual health service providers, has sent out an email to its clients on Monday notifying them that it reported a cyber attack on its website to Australian Federal Police.

“I want to stress to people that this has absolutely nothing to do with, and has no impact on our clinical medical records, they’ve always been secure,” the organization’s chief executive Ann Brassil said at a press conference on Monday. “There’s no evidence that this cyberattack was on Family Planning NSW itself;…and it appears it was an attack for ransom, so it was financial. The ransom said we are shutting down your website and you pay us $15,000 in Bitcoin for us to release the website, and it had a clock ticking down.”

Polish Propaganda

Polish financial authorities have again been found to spend taxpayers’ money on a smear campaign on social media against investing in cryptocurrencies. Poland’s Financial Supervision Authority (KNF) has issued a new tender order to plan and conduct a campaign aimed at “building awareness” among the public for the risks associated with investing in cryptocurrencies, pyramid schemes and forex activities unsupervised by the KNF.

Earlier this year it was reveled that the Central Bank of Poland and KNF had paid over 90,000 PLN (złoty) to, among others, a Polish Youtube content network which represents many popular young local content creators to produce anti-crypto videos.

What do you think about today’s news updates? Share your thoughts in the comments section below. 

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