Cryptocurrencies
A Virginia Resort Town Helps Build a Crypto Hub
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Even Virginia Beach, famous for its miles of sandy Atlantic waterfront, is angling to cash in on virtual currencies.
A local agency has approved a $500,000 grant to a startup based in town that’s embarking this month on a rapid expansion, opening a digital mining operation in a former beer distribution warehouse. The firm, Bcause, also plans to launch a cryptocurrency exchange and has applied to be a derivatives market with the Commodity Futures Trading Commission. The venture may also be eligible for a special property tax rate for data centers.