TL;DR: Welcome to In Case You Missed It (ICYMI), a daily crypto news update. North Korea is reportedly building its own cryptocurrency. VanEck withdraws Bitcoin ETF proposal. Binance US to launch with 13 states excluded. Early ethereum and tZero advisor arrested for extortion, and crypto mining malware on the rise again.
North Korea is Building Its Own Cryptocurrency
North Korea will build its own cryptocurrency, according to an article published in Vice. The nation is thought to be in the early stages of planning, and the crypto is also believed to be a way to circumvent US sanctions. Alejandro Cao de Benos, an official linked to North Korea cryptocurrency conferences, declared the token would be “more like bitcoin or other cryptocurrencies,” clarifying it won’t be a stablecoin, and stated the nation has no interest in digitizing its fiat currency for now.
VanEck Bitcoin ETF Proposal Withdrawn
The joint proposal of VanEck and SolidX to get permission for a Bitcoin-based ETF has been withdrawn after having been delayed several times by the SEC. The proposal had a final deadline on October 18, when the US regulator would have answered. Despite this decision, VanEck’s digital asset strategy director Gabor Gurbacs tweeted that “bringing to market a physical, liquid and insured ETF remains a top priority. We continue to work closely with regulators & market participants to get one step closer.”
Binance US to Launch, 13 States Excluded
Binance US, the American wing of cryptocurrency exchange Binance, will start getting registrations and deposits today with 13 states, including New York, being left out of the first batch of operations. C. Coley, CEO of Binance US, wrote in a blog post how “this is just the beginning, and it is our mission to bring access to those of you in these states many of us call home.” Binance US is a newcomer in the country, and will have to comply with the stringent compliance norms states like New York apply to digital exchanges on a state-by-state basis.
Early Ethereum and tZero Advisor Arrested for Extortion
Steven Nerayoff, an early Ethereum and initial coin offering (ICO) advisor, and his associate Michael Hlady have been arrested for extortion after allegedly demanding larger sums of money from companies they advised. Nerayoff supposedly asked for $30K in ETH from an ICO as compensation, threatening to “sabotage the crowd sale, generate negative press and use his contacts with influential people to destroy” an unnamed company referred just as “Company 1” in court documents.
Crypto Mining Malware Rises Again With Monero Prices
After having faced a drop in their activity due to the slump in cryptocurrency prices, malware groups have risen again in notoriety, running campaigns that infected millions of computers from all over the world. Crypto mining malware experienced a rebirth due to the rise in Monero prices, the most mined cryptocurrency by these types of bots due to its anonymity properties. Such malware bots are also diversifying, and now they hijack data and call to ask for ransoms.
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