Bitcoin News Mash-Up: France Strict on Bitcoin; HashFast Goes Bankrupt; and More

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Bitcoin News Mash-Up: France Strict on Bitcoin; HasFast Goes Bankrupt; and More

Following are the major Bitcoin and cryptocurrency news of the day

France to Follow EBA on Bitcoin Regulations
ACPR recently hosted a conference in Paris to discuss the challenges arising with the future payment technologies like Bitcoin. There the organization decided to follow the cryptocurrency regulatory model proposed earlier by European Bank Authority (EBA), which will certainly discourage finance institutions from buying, selling or holding virtual currencies.

HashFast Announces Bankruptcy
HashFast, once known as the world’s leading manufacturer of cryptocurrency mining equipment, was recently granted permission to liquidate its assets. The company earlier had filed for bankruptcy protection, and owed around $40 million to its investors around the world. Prior to the bankruptcy, HashFast was accused of conducting malpractices like Breach-of-Contract, fraud, and involuntary bankruptcy petition. It is now auctioning its assets to recover the lost investments.

Robocoin Threatens Decentralization with New Policies
Controversial Bitcoin ATM manufacturer Robocoin is once again making the news for all the wrong reasons. This time, the company has made some amendments in its existing policies, which is subsequently affecting the Bitcoin ATM owners around the world. Reportedly, Robocoin is threatening to cut ties with the merchants who refuse to update the ATMs with the company’s new platform. On the other hand, operators are refusing to update the software, citing network centralization as their main concern. This new update requires customers to enter their personal information according to the KYC standards. As Robocoin is simply threatening to decommission the device which doesn’t follow the rule, merchants are simply threatening back to use an open-source software in the future to run the ATMs.

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