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Monday, 6 June 2016

Egyptian dentist ensnared in police dragnet for trading in Bitcoin

Egyptian dentist arrested in Bitcoin “sting operation:” Ahmed A. H., a 30-year old dentist, has been arrested by the police in a sting operation for conducting bitcoin-to-USD transactions on LocalBitcoins.com, according to a statement (Arabic) from the Ministry of Interior on Thursday. This comes despite a number of local users still operating on the site, and a lack of any clear regulation on the matter, as reported by cryptocurrency news site Merkle.

… Meanwhile, in the UAE: Dubai-based Bitcoin startup BitOasis announced its first round of seed funding last month, led by VC firm Wamda Capital, CCN.LA reported. The UAE government was an official partner to the Keynote 2016, a blockchain technology conference held last week at Burj Al Arab.

Don’t understand Bitcoin? This man will mumble an explanation at you. (Watch, running time: 1:13)

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