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Robinhood to Launch Zero-Fee Cryptocurrency Trading Services in February 2018
Robinhood, the stock trading mobile app provider, said it plans to launch Bitcoin and Ethereum trading services beginning in February 2018. According to CoinDesk, Robinhood’s new cryptocurrency service will only be offered to users in California, Massachusetts, Missouri, Montana and New Hampshire at first. Robinhood will not have trading fees, and it promises instant transfers on cryptocurrency purchases for amounts of USD 1,000 or less.
Russia Considering Legalization of CryptoRuble, and Banning Mining of All Other Cryptocurrencies
According to RT.com, Communist Party MP, Rizvan Kurbanov, has submitted a draft law to legally recognize a national cryptocurrency, called CryptoRuble. The draft law aims to legalize the CryptoRuble as “a legal means of payment on the territory of Russia.” The legalization of the CryptoRuble would make the mining of all other cryptocurrencies illegal in Russia.
Stripe Considering Stripe and Ethereum as Replacement Payment Methods After Dropping Bitcoin
Stellar (XLM) increased 20% after news circulated that Stripe is considering adding support for XLM on its platform as it phases out Bitcoin. According to Investopedia, Stripe will stop accepting Bitcoin payments on April 23, 2018 due to slow transaction confirmation times, transaction failure rates, and growing fees. Stripe is also considering Ethereum, in addition to Stripe, as a replacement for Bitcoin.
U.S. CFTC Accuses My Big Coin of Cryptocurrency Scam
The U.S. Commodity Futures Trading Commission (CFTC) has accused the creators of My Big Coin of misappropriating over USD 6 million from customers to pay for a home, antiques, fine art, jewelry, and travel. According to Reuters, the CFTC alleged that the company made false and misleading claims about their virtual currency — such as its value, usage, and being backed by gold.