Bitcoin News Recap
2nd week of March
Bitcoin ATMs declared illegal and forced to shutdown in the UK
All Bitcoin cashpoints in Britain have been ordered to shut down.
The Financial Conduct Authority (FCA) has written to providers of cryptocurrency ATMs telling them to cease operations or face enforcement action.
Britain has 81 functioning Bitcoin ATMs run by at least eight operators, none of whom are licensed by the FCA and all of whom have been told to turn off the machines and remove them from stores where they are installed.
Yoon Suk-Yeol, a Bitcoin-friendly candidate, has won South Korea’s presidential election
Conservative Party candidate Yoon Suk-Yeol, a former top prosecutor who promised to deregulate the crypto industry, will become South Korea’s next president.
Crypto was one of the hottest topics during the campaign.
US Virginia State senate passes bill allowing banks to offer Bitcoin custody
A bill passed in the US Virginia State Senate allows banks to offer custodial services for bitcoin in either a fiduciary or non-fiduciary capacity once signed into law.
Banks will adhere to self-assessment criteria in order to determine whether or not to offer custodial services.
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