Seattle Daily Star

 Nomura has begun offering bitcoin over-the-counter derivatives to clients, it said Friday, the latest move by a traditional financial institution into the cryptocurrency industry , even as markets are in turmoil. The trades, executed on the CME by crypto asset trading firm Cumberland DRW this week, were the Japanese investment bank’s first digital asset trades, said Nomura’s head of markets, Asia ex-Japan, Rig Karkhanis in a statement. “Working with institutional-grade counterparties will allow us to scale into the increasing demand from our clients,” he said. Many global investment banks have been looking to offer clients more crypto related services, responding they say to demand from institutional investors and private clients for access to what had been a fast growing sector. However, crypto markets have tumbled this week as a meltdown in TerraUSD, one of the world’s largest stablecoins, sent digital tokens, already swept up in a sell-off of riskier assets, into meltdown....

 he scam started with the launch of the ShareHash app on Google Play last year The scam started with the launch of the ShareHash app on Google Play last year. The app was installed by more than 50,000 people until the promoters pulled the plug on it in January this year. The app offered cloud mining, which refers to a mechanism to mine a cryptocurrency, such as bitcoin, using rented cloud computing power and without having to install and directly run the hardware and related software. It allowed people to open an account and remotely participate in the process of cryptocurrency mining for a fee. The app also offered users Nebra Helium Hotspot Miners (HNT), another cryptocurrency mining service. The app’s founders launched an online hunt for local residents who could act as fronts for shell companies and in whose names bank accounts could be opened. Those who signed up and gave their personal details were offered Rs 50,000 to Rs 75,000 each. In all, the gang opened five primary bank...

  This leaves customers without any way of funding their trading accounts with rupees When Surojit Chatterjee walked on stage at a Coinbase Global conference in Bengaluru, India, on April 7, he had little reason to anticipate the fallout that would shortly ensue. Mr Chatterjee, the company’s chief product officer, told the audience that cryptocurrency investors would now be able to use the country’s online retail payments system to transfer funds to its local exchange. Hours after Mr Chatterjee’s announcement, the central bank-backed entity that runs the system — called United Payments Interface — said it was “not aware” of any cryptocurrency exchange using the network. Within three days of the event, Coinbase had halted rupee transfers to its trading app via UPI. The abrupt reversal left Coinbase customers without any way of funding their accounts with rupees, dealing a blow to its expansion plans in India. “We are committed to working with NPCI and other relevant authorities...