Bitcoin News Mash-Up: Coinbase $60 Million Fund; Sweden Closes Bitcoin Business Accounts; and More

0
87

Bitcoin News Mash-Up

Following are the major Bitcoin news of the day

Coinbase to Receive Around $60 Million in Funds
Famous Bitcoin wallet company Coinbase is all set to be bigger thanks to a newly expected investment worth around $60 million. As reported by Re/code, the new Series C funding will be led by the venture capitalist firm DFJ. So far, Coinbase have received a total of $31 million in previous funding rounds.

Australian Government Asks Welfare Applicants to Declare Bitcoin Assets
Pension seekers in Australia will now be required to declare cryptocurrency Bitcoin as their personal assets. The application form, which Department of Human Services recently published on its website, contains the word “Bitcoin” under the section of potentially valuable assets. According to an expert on legal aspects of digital currencies, “A printed reference to bitcoin value in a government-issed document such as this legitimizes the concept of digital wealth beyond a niche area.”

Swedish Banks Close Bitcoin Companies’ Accounts
After Bangladesh, China and the UK, Sweden became another country to host Bitcoin-hating banks. According to the recent reports, Swedish banks have called on to close any bank account that is found to be associated with the Bitcoin companies around the globe. Lansforsakringar, a local Swedish Bank, openly said that they don’t want their customers to use Bitcoin as an alternative payment option. Another bank Nordea simply closed the accounts of Bitcoinbolag without any notification. All the banks refused to comment on this dictatorial ruling.

To contact the reporter of the story: Yashu Gola at yashu@forexminute.com