Burglars loot worth thousands from a BitCoin ATM in Canada

The thieves break into the "Simply Delicious Food Market" located at Vernon, British Columbia at 4 AM

A bunch of burglars robbed thousand worth USD from a BitCoin ATM in Canada. According to a Canadian media report, burglars were able to loot worth $4000 from the ATM, while they left another canister as they were in a hurry. Surprisingly, the left cartridge had money worth $50000 in it.

The thieves broke into the "Simply Delicious Food Market" located at Vernon, British Columbia at 4 AM. According to the footage captured in the security camera installed around the shop, the robbers were wearing masks and left soon after the alarm triggered.

Police intervened

FILE PHOTO: A coin representing the bitcoin cryptocurrency is seen on computer circuit boards in this illustration picture, October 26, 2017. Reuters

The local police claims, they reached the spot within 15 minutes after the heist and found the culprits left the place. However, police asserted that they would soon capture the persons behind it.

Roland, the grocery shop owner, has told the media that he won't keep any bitcoin ATM at his shop after this incident. Currently, there are almost 6,000 bitcoin ATMs that exist around the world.
However, many government authorities, including the US and India has issued since cryptocurrency kiosks and ATMs creates a tax problem for them. In India, Cryptocurrency not anymore considered as a legal tender.

MAS issued paper to allow different cryptocurrencies

How cryptocurrency is changing the world

Happily, The Monetary Authority of Singapore (MAS) has issued a consultation paper on November 20 to allow different forms of cryptocurrencies including bitcoin to be traded on Approved Exchanges and to regulate under the consideration of Securities and Futures Act (SFA).

"There is international institutional investor interest, for example, from hedge funds and asset managers, in payment tokens such as Bitcoin and Ether. These institutional investors have a need for a regulated product to gain and hedge their exposure to the payment tokens. MAS' proposal will allow Approved Exchanges in Singapore to meet the need of investors to manage their exposure to payment tokens while bringing the activity under regulatory oversight," the paper mentioned.

With this, Singapore will now have four approved exchanges- Asia Pacific Exchange, ICE Futures Singapore, Singapore Exchange Derivatives Trading and Singapore Exchange Securities Trading Limited.