Breaking News: Bithumb in Court, Zcash Upgrade and Murky Future of Bitcoin

Bithumb under fire

Bithumb fails to protect users’ data and authorities prosecute exchange for that. Zcash set to implement major upgrade and Australia Central Bank don’t believe in Bitcoin future. CryptoHound singled out five hottest news of this week.

Major Korean Crypto Exchange Bithumb Prosecuted for Failure to Protect User Data

South Korean crypto exchange Bithumb has been prosecuted for its failure to take sufficient measures to protect the personal information of its users, which was later presumably exploited by hackers to steal funds from the platform.

Russian Ministry of Finance Considers Allowing Cryptocurrency Trading

A representative of the Russian Ministry of Finance says the ministry is considering allowing cryptocurrency trading. However, considering the slowness of Russian authorities in dealing with the crypto regulation and imposing administrative responsibility for the mining of cryptocurrencies, the successful pass of the bill is still under the question.

Firm Behind Zcash to Introduce New Version of Protocol With Sharding

The Electric Coin Company (ECC), the firm behind second-biggest anoncoin zcash (ZEC), intends to build a new scalable zcash blockchain. Scharding, being one of the solutions for the Ethereum network, is a mechanism for dividing data in the blockchain into more manageable parts, where nodes store only part of the data and rely on information from other nodes.

There Are Now More Than 5,000 Bitcoin ATMs Around the World

According to the latest statistics, there are now 5,006 standalone BTMs in around 90 countries, where cryptocurrency users can buy or sell bitcoin. The U.S. currently has more than half of the world’s BTMs at 3,229, with a new pilot scheme this month bringing the machines to Circle K convenience stores in Arizona and Nevada.

Australia Central Bank Argues Bitcoin ‘Unlikely’ To Become Mainstream

Australia’s government remains highly risk-averse on cryptocurrency, choosing to warn consumers about perceived risks while adopting aggressive taxation and data collection policy. It also remains skeptical about the wide adoption of crypto in Australia for the means of payments and money transfers.

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