Bitcoin News Summary – June 3, 2019

Here’s what happened this week in Bitcoin in 99 seconds.

The long-running exchange LocalBitcoins removed the ability for users to arrange in-person cash trades. Only online payment methods remain. This move comes soon after the imposition of more stringent KYC and AML requirements, and spells the end of an era. Bisq, HodlHodl, LocalCoinSwap and various other services still offer cash trading without ID requirements.

Yahoo! Japan owns a 40% stake in the new Taotao exchange which launched this week. This fully-regulated exchange currently offers Bitcoin and Ethereum trading, with other major alts coming soon. The new exchange also offers a mobile app.

A report from the UN on North Korea’s extensive financial and crypto hacking activities suggests that South Korean UpBit users were hit with phishing attacks, allegedly from the North. Hackers sent an email purporting to be from the exchange to South Korean users, enticing them to run a malicious file with the promise of a large windfall payout.

The Abra mobile crypto app announced the expansion of its Bitcoin-powered investment service to 150 countries, excluding the United States. Investors can use BTC to take small positions in stocks, commodities, ETFs, fiat and cryptocurrencies – with no trading fees.

And finally, Coinbase has added support for the EOS cryptocurrency for its retail customers. The new option is allowing users to buy, sell, convert, send, receive or just store EOS. The token was added to its Pro platform back in April.

That’s what happened this week in Bitcoin. See you next week.

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Alexander Reed

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Having delved into futures trading in the past, my intrigue in financial, economic, and political affairs eventually led me to a striking realization: the current debt-based fiat system is fundamentally flawed. This revelation prompted me to explore alternative avenues, including... Read More

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