Cryptocurrency market sentiment was dampened at the start of the week by news that Bitcoin had its worst ever start to the year and that another scam was busted by the US securities watchdog. Further, internet giant Google slapped a ban on cryptocurrency mining extensions on Chrome. Elsewhere, the Chinese e-commerce giant Alibaba has filed a trademark violation lawsuit in the US against a Dubai-based crypto startup that raised more than $3 million through an initial coin offering.
Here is a wrap up of the main news from the cryptocurrency and blockchain space over the last 24 hours.
Google Bans Crypto Mining Extensions On Chrome
Google has banned all cryptocurrency mining extensions on its Chrome Web Store, citing a rise in malicious extensions. In a blog post, the company said that Chrome will no longer accept extensions that mine cryptocurrency, while existing extensions that mine cryptocurrency will be delisted from the store in late June. However, extensions with blockchain-related purposes other than mining will continue to be permitted.
Japan Sets Up Agency To Combat Cryptocurrency Theft
The Japanese government has reportedly decided to set up a security agency to fight crypto currency theft. The Tokyo based anti-cyber crime center has selected 500 analysts and investigators from Japanese security and intelligence services, Japan’s Kyodo news agency reported. Cyber-crime has become widespread in Japan, where more than 3 million attempts to steal digital information were recorded last year.
Alibaba Sues Dubai Cryptocurrency Firm For Trademark Violation
Alibaba Group Holding Limited, the Chinese retail and internet conglomerate, sued a Dubai-based cryptocurrency firm for trademark violation as the latter raised over $3.5 million through the initial coin offering of a token called “AlibabaCoins” or “ABBC Coins”. The Chinese retailer previously made it clear that it is not interested in entering the cryptocurrency space.
Robinhood Unveils Commission Free Crypto Trading In Four US States
Robinhood, a popular commission-free stock and cryptocurrency trading app, rolled out Bitcoin and Ethereum trading to investors in four US states including California. Other states covered by the move announced on Twitter on April 2 are Massachusetts, Missouri, and Montana.
Russian Hotel To Accept Crypto Payments During Soccer World Cup
A hotel group in the Russian city of Kaliningrad has announced that it will accept payments from football fans who stay in their hotels during this year’s World Cup football games in cryptocurrency. The western Russian city is hosting four matches to be played on June 16, 22, 25 and 28.
Antigua And Barbuda Govt. To Set Up Crypto Exchange
The Antigua and Barbuda government is setting up a cryptocurrency exchange, aiming to create wealth for the country, reports said. It is expected that the legislation would go before the parliament soon to set up the needed legal framework. With the move, the country wants to generate revenue for the nation’s treasury and place the country on the new system of creating wealth.
As of 8.58 am ET on Wednesday, Bitcoin was down 4.13 percent at $7,065.63 and Ethereum was lower by 4.46 percent at $385.89 on Coinbase.
by Jyotsna V