Bitcoin News Mash-Up: Individual Fined; Bitcoin Foundation’s Actions in Bangladesh; and More


Bitcoin News Mash-Up

Following are the major Bitcoin news of the day

Individual Fined over Distributing Ponzi scheme
Trendon Shavers, an individual who was accused of implementing a Bitcoin-centered Ponzi scheme in 2012, recently proved guilty by the Security and Exchange Commission (SEC). Federal Judge Amos L. Mazzant, representing the aforementioned financial law body, stamped a whopping $40 million fine on Shaver for committing the fraud.

Bitcoin Foundation Temporarily Suspends Operations in Bangladesh
The Bitcoin Foundation recently published a post titled “The Case for Bitcoin in Bangladesh”. As the name implies, the post tried to clear certain doubts that were raised after Bangladesh Central Bank’s negative response on the use of cryptocurrency, which was later misunderstood as a “ban” on cryptocurrencies. However, it is very much clear to the Bitcoin users that using the coin for any purpose within the territories of Bangladesh will go against the Foreign Currency Control Act 1947, as well as the Money Laundering Control Act 2012.

Without further ado, the Bitcoin Foundation has withdrawn all its operations from Bangladesh until further notice.

Bitcoin Foundation Hires New Talents to Push EU Policy
The Bitcoin Foundation is turning every stone for expanding Bitcoin to new territories. After increasing its lobby in the United States, the firm is making similar efforts in Europe, in the wake of which it has hired a new, and renowned regulatory expert Monica Monaco. According to the reliable sources, the lady will be responsible for promoting digital currency technology among political leaders and policymakers in the European Union. Bitcoin Foundation executive director Jon Matonis told CoinDesk.COM:

“Through her experience with Visa and financial clearing networks, Monica brings a wealth of knowledge and important contacts to the Bitcoin Foundation.”

To contact the reporter of the story: Yashu Gola at

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