Bitcoin Daily: Crypto Mining Encounters Are Down 40 Pct; Spanish Authorities Crack Down On Crypto Laundering Of $3.3M In Drug Money

Microsoft reported that digital currency mining encounters dropped 40 percent from 2018 to 2019, according to a report. The tech company noted in the report that only 50 endpoints for each 100,000 came across a digital currency miner.

Ethiopia was the country with the highest encounter rate, followed by Uzbekistan and Pakistan. Ireland was the country with the lowest encounter rate, followed by the United States and Japan. And Peru had the greatest YoY change, followed by Bolivia and Ecuador. The company said in the report, “As the value of cryptocurrency rises and falls, so does the mining encounter rate. “

In other news, authorities in Spain have taken 33 individuals into custody who allegedly marketed illicit pharmaceuticals via the web and laundered at least some of their $3.37 million profit in crypto, Coindesk reported.

The operation was conducted against two distinct groups of criminals. It brought about the seizure of 70,000 medical tablets for erectile dysfunction as well as other pharmaceuticals that have not received the green light from the government.

Authorities said the “purchase of virtual currency stands out” as they made note of the efforts of the suspects to get rid of their digital footprints. They contend that one of the vendors for the groups had the pharmaceuticals move through different countries prior to bringing them to a location in Murica.

On another note, the central bank of Zimbabwe has reportedly stopped all transactions by “mobile money agents” and restricted payment sizes via other firms, Coindesk reported. The move comes as the institutions aims to defend against efforts to avoid hyperinflation in the nation. The Reserve Bank of Zimbabwe will, in a statement per the outlet, “[p]rotect consumers on mobile money platforms which have been abused by unscrupulous and nonpartisan individuals and entities to create instability and inefficiencies in the economy.” Those who have funds kept in a mobile provider will have to withdraw their money via a trip to a local financial institution.