China’s Central Bank Bans ICOs

Posted on September 4, 2017

In a new ruling published on Monday, the People’s Bank of China (PBoC) declared ICOs and similar cryptocurrency-based fundraising tools to be illegal within the country. The PBOC’s statement also demanded that all current ICOs on China-based exchanges be halted immediately, and that funds from previous ICO rounds be returned. The ruling follows an extended […]

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SEC Issues Investor Warning On ICOs

Posted on August 29, 2017

Yesterday, the U.S. Securities and Exchange Commission (SEC) issued an “Investor Alert” about “potential scams involving stock of companies claiming to be related to, or asserting they are engaging in, Initial Coin Offerings (or ICOs).” Given the turbulent and uneasy relationship between the U.S. government and crypto-based startups, this investor warning sent a brief chill […]

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The Bitcoin law in Russia will pass?

Posted on May 28, 2016

A bill prepared by Russia’s Ministry of Finance targeting the creation and circulation of so-called money surrogates, a classification that would include digital currencies like Bitcoin, has been at least temporarily withdrawn from consideration following comments from the country’s Justice Ministry. As reported by regional news source RNS, the bill – popularly known as the […]

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Shift’s bitcoin-backed debit card beta issues new round of invites

Posted on September 26, 2014

Last month, San Francisco-based bitcoin startup Shift Payments announced plans to release a new debit-card system that would enable users to pay with traditional bank accounts, as well as bitcoin and Ripple wallets. Backed by tech-industry kingmakers Y Combinator, the card promised to serve as a next-generation bridge between digital currencies and traditional banking by […]

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OKCoin becomes biggest USD/BTC exchange

Posted on September 25, 2014

Only a week after exiting beta testing for its new bitcoin-to-dollar exchange platform, China’s OKCoin has skyrocketed past Western exchanges in terms of volume. As CoinDesk reports, the USD/BTC trading pair on the site had a volume of 16,342 BTC yesterday, handily beating Bitfinex’s 15,552 BTC volume, as well as Bitstamp’s 14,463 and BTC-e’s 6,556. […]

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Two U.S. banks to test Ripple protocol

Posted on September 24, 2014

Ripple Labs announced today that their bitcoin-friendly alt-coin system will soon be offered to the customers of two small U.S. banks. The Ripple system is part of a new low-cost, real-time international payments service offered by CBW Bank of Topeka, Kansas, and Cross River Bank of Teaneck, New Jersey. The integration is the first time […]

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PayPal announces partnerships with BitPay, Coinbase and GoCoin

Posted on September 24, 2014

One of the biggest concerns about PayPal’s rapidly approaching integration with bitcoin-based payments has been liquidity. The eBay-owned payment processing giant handled around $180 billion in transactions last year, roughly 30 times bitcoin’s total market cap. If PayPal aims to bring bitcoin payments to the masses, even a relative giant in the space, like Coinbase, […]

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Square CEO hints bitcoin integration on the horizon

Posted on September 23, 2014

In an interview with CBC News, Square CEO Jack Dorsey dropped an interesting hint about his company’s future relationship with bitcoin. Speaking about concerns that Square might face stiff competition from the forthcoming Apple Pay mobile point-of-sale system, Dorsey said: “We’re building a register so that sellers can accept a credit card, so they can […]

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GABI hedge fund announces first bitcoin purchases

Posted on September 23, 2014

The Jersey-based Global Advisors Bitcoin Investment Fund (GABI) announced yesterday that it was in the early stages of deploying the fund’s assets into bitcoin. The company spent the whole of August and much of early September acquiring customers for its initial offer period, and appears to have closed that initial round in the last few […]

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UK-based gold and bitcoin exchange Netagio passes ISAE 3000 audit

Posted on September 22, 2014

The first bitcoin-related company to submit to an audit under the standards of the International Standard on Assurance Engagements (ISAE) has passed with flying colors. Netagio, a small bitcoin and gold exchange based in the U.K., recently announced the results of an ISAE 3000 review conducted by international auditing firm BDO. Netagio claims this to […]

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Coinbase announces new API for multisig accounts

Posted on September 21, 2014

One of the biggest concerns with third-party bitcoin services like Coinbase is this: Who controls the private keys? If you host your own wallet on a mobile device or PC, or even have a printed paper wallet, ultimately you control when and how BTC moves from your private address to another. That’s not the case […]

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Bitcoin Savings and Trust fraudster fined $40 million

Posted on September 19, 2014

In July of 2013, the Securities and Exchange Commission (SEC) charged Trendon T. Shavers with defrauding investors in a bitcoin-targeted Ponzi scheme. Shavers claimed to have created a bitcoin-based arbitrage system, the Bitcoin Savings and Trust (BTCST), and promised investors 7% interest per week on their BTC loans. Instead, the BTCST was a classic Ponzi […]

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Following central bank decision, Bitcoin Foundation Bangladesh halts activities

Posted on September 19, 2014

Earlier this week, Bangladesh’s central bank issued a new warning strongly suggesting that bitcoin use was now a criminal offense in the country. Bank officials later told news agency Agence France-Presse (AFP) that anyone found guilty of using or selling bitcoin in the country could be sentenced to up to 12 years in jail. Bangladesh […]

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Bitcoin’s price isn’t falling alone — commodities across the board in steep decline

Posted on September 19, 2014

It’s all too easy for the bitcoin community to lose sight of the bigger investment trends. For almost all of bitcoin’s history, is has existed in a bubble, completely removed from the forces that drive forex trends and commodity prices. As we mentioned yesterday, that era appears to be coming to an end. Bitcoin’s price […]

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BitPay showcases updated API

Posted on September 18, 2014

The competition between Coinbase and BitPay looks like it has spilled over to the API battlefield. Yesterday, Coinbase released Toshi, an open-source bitcoin node with a JSON API for developers. Today, BitPay responded with their own API update, packed with new features, updates, and fixes. Not to be outdone, the BitPay API is built on […]

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Bitcoin startup CoinPlus raises over $220,000 in seed round

Posted on September 18, 2014

Bitcoin payment-processing and currency exchange startup CoinPlus announced yesterday that it had raised €172,500 ($220,000) in its seed funding round. The Luxembourg-based company launched in early July following legal clarifications of bitcoin’s status in the country by the Commission de surveillance du secteur financier (CSSF) in February. No list of investors has been published, and […]

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UPDATE: Instabill offers services to Isle of Man bitcoin startups

Posted on September 18, 2014

Earlier this week, bitcoin startups on the politically independent U.K. holding of Isle of Man were faced with potentially catastrophic news. The island’s primary treasury service provider, Capital Treasury Services (CTS), announced it was severing its relationship with all digital currency businesses. It has since been revealed that the CTS decision was made under pressure […]

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Bitcoin price continues steep, mysterious decline

Posted on September 18, 2014

Until late last week, bitcoin prices had been hovering in the $475 range, down a bit from the $500 to $650 range seen since May. That changed on Saturday, when the bottom seemingly dropped out from the BTC price, sending it on a steep decline to around $428 (at time of writing). While price volatility […]

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$2 million raised in seed funding round for bitcoin API startup Gem

Posted on September 17, 2014

Los Angeles-based bitcoin startup Gem announced the completion of a $2 million seed funding round to enhance its security-platform API. The funding deal has been in works since June, and was led by First Round Capital and Tekton Ventures. The Gem project clearly has plenty of support, with additional seed round funding coming from RRE […]

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Roger Ver announces anti-hacker bounty site

Posted on September 17, 2014

This morning, bitcoin evangelist Roger Ver announced the launch of a new site intended to help law enforcement agencies take down online criminals and malicious hackers. Although the technology behind the site is new, the idea is very, very old. In effect, Ver has created a marketplace for the bounty hunters of the digital age. […]

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Bitcoin use now a “punishable offense” in Bangladesh

Posted on September 16, 2014

In a new warning issued yesterday by the central bank of Bangladesh, any transaction in “bitcoin or any other cryptocurrency is a punishable offense.” According to a report by Agence France-Presse (AFP), bank officials said that anyone found guilty of using or selling bitcoin in the country could be sentenced to up to 12 years […]

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Banking access severed for bitcoin companies on Isle of Man

Posted on September 16, 2014

Bitcoin startups on the self-governing British possession of Isle of Man have a major new issue to overcome: Banking access. CoinDesk reports that Capital Treasury Services (CTS), the major financial services connector between Mann’s rapidly growing digital currency industry and banks on the British mainland, has been severed. CTS is a subsidiary of Capital International […]

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Circle teases new iOS and Android apps

Posted on September 16, 2014

Even though they’re still in an invite-only beta test, bitcoin-brokerage Circle clearly has plans to break into the mainstream in the near future. CoinDesk reports today that the company gave an exclusive preview of their new iOS and Android apps at the CoinScrum meetup in London yesterday, giving several hints about Circle’s near-future plans. CEO […]

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Speculation increases that an independent Scotland could adopt bitcoin as national currency

Posted on September 16, 2014

On Thursday, Scottish citizens will make a monumental decision: Remain a part of the U.K., or go it alone as an independent E.U. nation. As the debate rages on in Scotland itself, and referendum becoming too close to call, many experts have found themselves considering the very real possibility that Scotland will sever its 307-year-old […]

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Canada’s bitcoin-focused Vogogo becomes a publicly traded company

Posted on September 15, 2014

Calgary-based bitcoin payment processing and regulatory compliance company Vogogo announced today that it will be trading on the Toronto Stock Exchange’s Venture Exchange (TSXV) under the ticker symbol “VGO.” Although not strictly a bitcoin company, Vogogo made headlines recently for raising $8.5 million to develop a new bitcoin payment system, possibly intended to become Canada’s […]

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Bitcoin exchange Bitfinex launches cloud-mining contracts

Posted on September 15, 2014

Hong Kong-based bitcoin exchange and derivatives platform Bitfinex announced a new product today: Cloud-based mining contracts. The contracts are being offered in a limited quantity during the “live beta” phase of testing, allowing Bitfinex’s team to “tweak” the product as needed after the initial tranche of 100 TH/s mining power. Should the offering prove successful, […]

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Nonprofit giant United Way partners with Coinbase

Posted on September 15, 2014

In terms of donations received, the United Way Worldwide is the largest privately held nonprofit organization, raising over $5 billion per year. With over 1,800 offices in 45 countries, and with 2.8 million volunteers, United Way is also a titanically large and truly global organization. As of today, it also accepts bitcoin through a new […]

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Russia may formally ban bitcoin in 2015

Posted on September 14, 2014

There are few places in the world where bitcoin’s legal status is more unclear than in Russia. In February, the Russian Prosecutor General’s Office said that “money substitutes” such as bitcoin are explicitly illegal. In July, the Bank of Russia (the country’s central bank) said that digital currencies “should not be rejected” and said it […]

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What is Overstock’s “top secret” bitcoin project?

Posted on September 14, 2014

Something very big appears to be in the works at Overstock.com. Details are few, but at least two key facts are known: It’s a “top secret project” requiring a “high degree of discretion,” and it’s very clearly being built with cryptocurrency in mind. According to a series of job postings made on the company’s Careers […]

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Bitcoin Shop management agree to waive salaries for six months amid stock price woes

Posted on September 12, 2014

Digital currency-dedicated e-commerce site Bitcoin Shop seems to be going through quite a rough patch. The website, launched last September as a bitcoin-friendly alternative to Amazon, announced on Wednesday that its entire management team would be waiving a significant portion of their salaries for the next six months. The publicly traded company claims that the […]

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Tim Draper’s “pessimistic” 3-year BTC price target is $10,000

Posted on September 12, 2014

In an interview with CoinDesk published today, venture capitalist and Silk Road auction winner Tim Draper had some very bullish things to say about the price of bitcoin. “I guess the markets aren’t seeing what I am seeing,” Draper said. “An entire economy is being rebuilt. I have a price target of $10,000 in three […]

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Commodity Futures Trading Commission approves first bitcoin swap

Posted on September 12, 2014

The bitcoin derivatives market just took a giant step forward. Reuters reports that the Commodity Futures Trading Commission (CFTC), the federal regulatory body responsible for preventing fraud in futures contracts, gave full approval to a new bitcoin-backed swap created by TeraExchange. The new derivative allows clients to lock in a dollar value to their bitcoin […]

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Coincheck aims to bring full-service bitcoin platform to Japan

Posted on September 11, 2014

Is bitcoin finally gaining traction in Japan? Even before the collapse of Mt.Gox, the country has been equal parts skeptical and disinterested in the cryptocurrency concept. In June, the country’s ruling party issued a statement claiming that there was no need to create bitcoin regulation, referring to the Japanese bitcoin industry as a “sprout.” If […]

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Overstock becomes first major company to enable global bitcoin payments

Posted on September 11, 2014

Last month, Overstock.com claimed it was on the verge of adding a bitcoin payment option to their O.co global retail site. After a 10-day delay (the launch was planned for September 1), Overstock quietly enabled the BTC-payment system early this morning. Although Overstock is hardly the first company to accept bitcoin payments from anywhere in […]

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Canadian payroll company Wagepoint extends BTC payments to U.S.

Posted on September 11, 2014

Earlier this month, Ontario-based payroll firm Wagepoint made headlines for becoming one of the first organizations to enable direct bitcoin payments to employees. At the time, Wagepoint’s BTC payroll service was limited to Canada, but according to an interview published by CryptoCoinsNews, the company has expanded the option to their U.S.-based clients. According to the […]

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The Bank of England releases extensive new report on bitcoin’s potential impact in the U.K.

Posted on September 11, 2014

The Bank of England released a pair of cryptocurrency-related articles today, prompting waves of commentary throughout the global financial press. The articles, pre-released from the BoE’s forthcoming Quarterly Bulletin 2014 Q3 report, focus on defining bitcoin’s core innovation — the trustless, distributed ledger better known as the block chain — and on examining the economics […]

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Coinbase announces international expansion, now available in 14 countries

Posted on September 10, 2014

One of the biggest hurdles for would-be international bitcoin users is the lack of an easy-to-use, newcomer-friendly and widely trusted service to buy, sell and store bitcoin with. For the last two years, this hasn’t been much of an issue thanks to the existence of popular bitcoin services provider Coinbase. If only there was some […]

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U.K. bitcoin ATM operator says £38,000 processed in one month

Posted on September 10, 2014

The Bristol Post reported today that a single bitcoin ATM located in a health food store has processed more than £38,000 ($61,000) in one month of operation, strongly suggesting a growing interest in cryptocurrency in the region. The Superfoods store hosts a two-way bitcoin ATM built by RoboCoin, and managed by regional operator Satoshipoint. The […]

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First bitcoin ATM opens in Argentina

Posted on September 9, 2014

The first public bitcoin ATM in Argentina opened recently in a Buenos Aires suburb. Given that bitcoin ATMs have been popping up like wildflowers all over the globe in the last few months, this might not seem like big news. In a country in the middle of a deep economic crisis and an estimated inflation […]

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UPDATE: “PayPal making a move to embrace Bitcoin” says Braintree CEO

Posted on September 8, 2014

The rumors are true: PayPal is integrating bitcoin payments into their One Touch mobile wallet system using technology developed by their subsidiary Braintree. Speaking at TechCrunch Disrupt San Francisco today, Braintree CEO Bill Ready said that the company will soon be integrating bitcoin payments via a partnership with Coinbase. Not hedging his bets, Ready made […]

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OKPay surrenders $6 million in held customer funds to Mt.Gox

Posted on September 8, 2014

Last month, early-adopting bitcoin payment processor OKPay was ordered by a British Virgin Islands court to surrender $6,014,910 in held customer deposits to defunct bitcoin exchange Mt.Gox. OKPay had hoped to return these funds directly to customers, but legal challenges by Mt.Gox’s Trustee Fund have held the funds in a “limbo” within Mt.Gox’s OKPay account […]

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Blockchain.info adds Marco Santori as global policy counsel

Posted on September 8, 2014

The Wall Street Journal reported today that Blockchain.info has retained Marco Santori in a new role as global policy counsel. Santori is well known within the bitcoin industry, and currently serves as the chairman of the Bitcoin Foundation’s regulatory affairs committee. In addition to his legal work for the Bitcoin Foundation, Santori also writes about […]

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Braintree expected to announce Coinbase partnership today

Posted on September 8, 2014

According to tech industry news website Re/code, PayPal subsidiary Braintree will soon announce that it has entered into a bitcoin-payment processing arrangement with Coinbase, possibly as early as today. Braintree’s service is widely used by a variety of tech startups, including openly disruptive, peer-to-peer services like Uber and Airbnb, which are seemingly ideal adopters for […]

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New PayPal video strongly suggests bitcoin adoption on the horizon

Posted on September 8, 2014

This morning, the official PayPal YouTube channel uploaded new video titled “PayPal Voices,” focusing on the increasingly peer-to-peer nature of transactions in an increasingly decentralized economy. But a single line of the video’s text holds huge ramifications for the bitcoin community, as well as the future of digital currency. Roughly eight seconds into the video, […]

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New report says bitcoin ATM industry at risk of “creative destruction”

Posted on September 5, 2014

According to a new report published by the ATM Industry Association (ATMIA), the rapidly growing bitcoin ATM industry is at risk of “creative destruction” unless self-governance structures are soon put in place. The ATMIA’s “position paper” notes that bitcoin ATMs represent a “genuine innovation in the payments space,” and hopes for an eventual “stabilization” of […]

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Mobile-focused payment and security company Alternet Systems enters into partnership with BitPay

Posted on September 5, 2014

Miami-based mobile security and payments company Alternet Systems announced a new partnership agreement with Atlanta-based bitcoin payment processor BitPay. The non-exclusive agreement will allow Alternet’s payment arm, Alternet Payment Systems (APS), to serve as a third-party vendor for BitPay. While affiliate partnerships are nothing new, even for BitPay, the scope of this new arrangement could […]

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Chamber of Digital Commerce to be first recipient of Overstock BTC donation program

Posted on September 5, 2014

In a recent Gigaom profile of Overstock.com’s bitcoin adoption, CEO Patrick Byrne let slip an interesting detail about the company’s plan to donate 4% of BTC sales to a different bitcoin charity or foundation every month. According to the article, the first recipient of the plan will be the newly minted bitcoin political advocacy group […]

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New WordPress plugin hopes to drive e-commerce adoption for PayStand

Posted on September 5, 2014

BitPay’s monopoly on WordPress e-commerce payments may be coming to an end. Recently launched competitor PayStand has been gaining significant attention this week, offering a wide range of payment options including a zero-fee payment option for bitcoin purchases. The plugin, available for popular e-commerce plugin system WooCommerce, may help PayStand gain a foothold in the […]

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NYU and Duke University offer new bitcoin-focused courses

Posted on September 4, 2014

Is bitcoin’s impact on economic theory already filtering into mainstream academia? Coindesk reports today that two major U.S. colleges — New York University and Duke University — have begun offering bitcoin-focused courses for the new semester. NYU’s class, titled “The Law and Business of Bitcoin and Other Cryptocurrencies,” is taught by Law Professor Geoffrey Miller […]

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MIT campus bookstore to accept bitcoin

Posted on September 4, 2014

An MIT campus bookstore has become the first on-campus store to officially accept bitcoin in anticipation of the coming Bitcoin Project. The Kendall Square bookstore has partnered with Atlanta-based bitcoin payment processor BitPay to accept BTC purchases, allowing students to purchase textbooks and official MIT merchandise. Although there are many stores across the globe that […]

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KnCMiner raised $14 million in new funding round

Posted on September 4, 2014

Stockholm-based bitcoin mining hardware maker KnCMiner announced the results of a new funding round today, adding $14 million to the company’s expansion plans. The Series A round cash will be invested into new hardware designs and software development, as well as funding the company’s ongoing growth in the cloud-based mining sector. The fundraising round was […]

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DigitalTangible partners with Amagi Metals and Agora Commodities to launch new gold-bitcoin exchange

Posted on September 3, 2014

There’s a well-established overlap between the bitcoin marketplace and the market for physical gold. Both communities have a well-founded skepticism of central banks and fiat currency, for instance. With that in mind, it’s hardly surprising that bullion dealers were among the first generation of merchants to realize the potential of bitcoin as a medium of […]

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Xapo: “The BitLicense is over-regulation”

Posted on September 3, 2014

Xapo founder Wences Casares has weighed in on the “BitLicense” regulatory framework proposed by the New York Department of Financial Services (NYDFS), calling it “over-regulation” that “hinders progress and serves an anticompetitive function” for the still-growing bitcoin industry. In a new post on the Xapo blog, Casares said that the regulation will have a “potentially […]

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University of Zurich tests student-made bitcoin-payment system in cafeteria

Posted on September 2, 2014

If there’s a single test for whether or not bitcoin is finally ready for mainstream use as a currency, it’s this: Can I buy lunch with it? That scenario is about to be put to a two-week test at Switzerland’s University of Zurich, where a student-built bitcoin payment system is due to be put through […]

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Huobi’s interest-bearing bitcoin deposit service sells out an hour after launch

Posted on September 2, 2014

Within an hour after opening their new Digcoin “hashing power mortgage” product to users, Beijing-based bitcoin exchange Huobi had sold out of all available shares. The interest-bearing Dig-VC mining service, which is arranged to suggest a “certificate of deposit”-style of investment, provides a guaranteed, monthly interest rate of 1.2%. Each share has a minimum 60-day […]

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