Rupees for Stablecoins
CoinDesk Podcast Network
CoinDesk
4.8 • 689 Ratings
🗓️ 18 October 2018
⏱️ 6 minutes
🧾️ Download transcript
Summary
A clampdown on cryptocurrency by Indian regulators is forcing one exchange in that country to go to great lengths to do business.
The U.S. Marshals have announced a plan to auction off nearly $4.3 million worth of bitcoin next month.
Clients of the defunct crypto exchange Mt. Gox must submit claims for trapped funds by October 22.
The Bill and Melinda Gates Foundation has partnered with blockchain startup Coil as part of its mission to provide payment services for the unbanked.
A U.S. cryptocurrency exchange is reporting a significant increase in trades between tether (USDT) and a newer alternative called TrueUSD.
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Transcript
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| 0:00.0 | A Bitcoin exchange in India is adapting amidst a central bank crackdown. |
| 0:05.7 | Good evening. I'm Stan Higgins, and this is late confirmation from CoinDesk, bringing you the top stories from October 18th. |
| 0:13.6 | Also on today's show, the U.S. government is auctioning off $4.3 million in Bitcoin, |
| 0:19.7 | and a key deadline is approaching for creditors of the now-defunct Bitcoin |
| 0:23.6 | Exchange, M.T. Gox. A clamped out on cryptocurrency by Indian regulators is forcing one |
| 0:32.3 | exchange in that country to go to great lengths to do business. The exchange startup, |
| 0:42.0 | Unokoin, is experimenting with stable coins and ATMs in a bid to continue receiving fiat deposits from its customers. |
| 0:45.4 | Uno Coin co-founder Sonny Rayatol Coin desk, his company hasn't been able to transact through |
| 0:50.5 | regular banking channels with its million-plus customers for several months, |
| 0:54.6 | after the Reserve Bank of India banned banks from working with crypto or crypto companies back in April. |
| 1:01.1 | Most recently, Uno Coin set up an ATM in a Bangalore mall where customers can deposit |
| 1:06.2 | rupees to their exchange accounts without a banker credit card. |
| 1:09.1 | In the coming weeks, Uno Coin will open a few more ATMs in Mumbai and Delhi. |
| 1:16.0 | The U.S. Marshals have announced a plan to auction off nearly $4.3 million worth of Bitcoin |
| 1:22.1 | next month. The government agency said in an announcement on Wednesday that the sealed |
| 1:27.1 | bid auction is for about |
| 1:28.6 | 660 Bitcoin that were forfeited in federal criminal, civil, and administrative cases. |
| 1:35.1 | Scheduled to start on November 5th, the auction requires would-be bidders to deposit $200,000 |
| 1:41.4 | after registering their identification with the agency no later than October 31st. |
| 1:46.9 | Based on the announcement, the auction consists of two parts with six blocks of 100 Bitcoin each |
| 1:52.2 | and one remaining block with 60 Bitcoin. Bidders will not be able to view other bids or change |
| 1:58.3 | their bid once submitted, according to the U.S. Marshals. |
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