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    Venezuela authorities seize Bitcoin mining machines from notorious prison 

    The Venezuelan government sent out over 11,000 soldiers and police to take back the Tocorón prison which served as the headquarters of the notorious Tren de Aragua gang. The development marked the first time that authorities would take action against the country’s most feared criminal group that extended its operations to neighboring countries. According to reports, members of the feared gang were involved in illicit activities including human trafficking, kidnappings, extortion, and prostitution. The prison had facilities such as a baseball field, swimming pool, a zoo, a nightclub, and a casino for inmates. There were also Bitcoin mining machines that were used to illegally mine BTC. Remigo Ceballos, Venezuela’s Interior and Justice Minister, revealed that four guards were arrested during the raid, on the suspicion that they aided the gang members. Some inmates managed to escape during the raid, while the government evacuated the prison’s 1,600 inmates to other locations. Ceballos declared the clampdown as successful, adding that authorities were prepared to “go against all the criminals and accomplices.”Venezuela’s regulators suspended Bitcoin mining operations in March, following investigations into an alleged corruption scheme involving the use of cryptocurrency wallets to redirect funds belonging to Petróleos de Venezuela SA (PDVSA), a state-run oil company. However, Bloomberg reported in June that the temporary ban was destroying the crypto-mining industry that once thrived in the country.This article was originally published on Crypto.news More

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    Binance.US scores against SEC, Mt. Gox delay repayments, and other news: Hodler’s Digest, Sept. 17-23

    Mt. Gox trustee Nobuaki Kobayashi has officially changed the deadline for paying back the exchanges creditors from Oct. 31, 2023, to Oct. 31, 2024. Presently, the Mt. Gox estate holds some 142,000 Bitcoin (BTC), 143,000 Bitcoin Cash (BCH), and 69 billion Japanese yen. Mt. Gox was one of the earliest cryptocurrency exchanges, once facilitating more than 70% of all trades made within the blockchain ecosystem. Following a major hack in 2011, the site subsequently collapsed in 2014 due to alleged insolvency; the fallout affected about 24,000 creditors and resulted in the loss of 850,000 BTC.Continue Reading on Coin Telegraph More

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    Real estate or Bitcoin: Which is more reliable?

    Still, Pechman speculates that house prices might rise if inflation continues to grow. While some sellers may be distressed, real estate, especially urban residential, has historically been a reliable store of value. He concludes by highlighting that other investment options may not provide a safer haven in the current economic climate.Continue Reading on Coin Telegraph More

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    How are crypto firms responding to US regulators’ enforcement actions?

    Gary Gensler, serving as SEC chair since 2021, has been widely criticized by many lawmakers and industry leaders for a “regulation by enforcement” approach to crypto companies and offerings. Some of the cases have ended up in federal courtrooms to determine what may qualify as a security in the U.S., and not all judges’ decisions have necessarily been favorable to the regulator.Continue Reading on Coin Telegraph More