Pavel Durov Liquidates Telegram Messenger LLP on the British Islands
Pavel Durov the creator of vk.com and Telegram is liquidating Telegram Messenger LLP, the company that currently operates Telegram nominally. The company is situated on the British Virgin Islands. However, there are several other companies that belong to Pavel Durov and his brother and that are associated with Telegram. So far there is no official statement as to why Durov decided to liquidate the company. Observers speculate that it could be due to the Brexit, the upcoming ICO of Telegram or a general restructuring of the company. The only thing that seems to be sure is that Telegram will continue its operations.
Mongolia Attracts Miners as Bear Market Continues
Mongolia attracts miners as the bear market continues. The correction in Bitcoin meant for many companies that deal or mine cryptocurrencies that they have to scale down their operations. As cryptocurrencies have lost typically more than 80% of their value, cheap electricity prices and Mongolia’s cold climate lead to an influx of crypto miners, especially from Japan. Reportedly, the energy price in Mongolia is even lower than in China where the price per kwh is $0.08.
Bitmain Calls Off Launch of $500 Million Mining Facility
Texas Public Radio (TPR) announced yesterday that Bitmain is not opening its $500 million mining center in Rockdale, Texas. The mining center would have created about 500 jobs in the area of Milam county and would have been the largest mining facility in North America. However, the facility will not be totally shut-down as it seems. In an email to Steve Young, the Milam County Judge, a spokesperson of Bitmain stated that a skeleton crew maintains the necessary operations in Rockdale and will enable a scale based launch of the site.
European Banking Authority Calls For Unified Cryptocurrency Regulation
The European Banking Authority (EBA) is calling for a common approach in Cryptocurrency regulation. The EBA decries the fact that most European countries are crafting policies that are specific to their countries. This is creating confusion as the new regulations are becoming too diverse and going against the spirit of a seamlessly connected European Economic Union.