Monthly Archives: March 2014

Former director of U.S. Mint weighs in on the IRS bitcoin decision

Posted on 28th March, 2014

If there’s anyone who should understand the mechanics of currency, it’s Edmund C. Moy. From 2006 to 2011, Moy was the Director of the United States Mint, government office in charge of both handling the nation’s gold and silver bullion and producing all of its coinage. With the recent decision by the IRS to treat […]

Sen. Joe Manchin backs off his “ban bitcoin” stance

Posted on 27th March, 2014

One month to the day after he sent a highly controversial letter to the Treasury, Federal Reserve and other related financial agencies calling for the outright ban of bitcoin, West Virginia Senator Joe Manchin appears to have dramatically softened his stance. Speaking with the Washington Post, Manchin said the boom in private investment and regulatory […]

Bitcoin Foundation weighs in on new IRS rules

Posted on 27th March, 2014

In a post on the Bitcoin Foundation’s blog yesterday, Marco Santori, Chairman of the foundation’s Regulatory Affairs Committee responded to the recent decision by the Internal Revenue Service (IRS) to treat bitcoin as a stock-like class of property, rather than as a currency. The post notes that the foundation “appreciates the IRS’ hard work in […]

Will the IRS ruling launch a new niche market for bitcoin startups?

Posted on 27th March, 2014

Yesterday, the IRS declared that bitcoins were to be treated under the same rules as stocks under U.S. tax law, causing a wave of relief for seasoned investors and a chill of quiet panic among casual users. A literal interpretation of the rules would require an immense amount of bookkeeping for anyone who would use […]

Bitcoin cited in California state senator Leland Yee corruption case

Posted on 27th March, 2014

California State Sen. Leland Yee was arrested yesterday on charges of public corruption, soliciting funds from undercover FBI agents in exchange for promises to aid in a gun-trafficking deal that would have illegally armed Muslim rebels in the Philippines. Yee was one of 26 people charged in the the five-year-long investigation, as was accused murder-for-hire […]

Report: Researchers claim Mt.Gox could only have lost 386 BTC to transaction malleability

Posted on 27th March, 2014

In a research paper titled “Bitcoin Transaction Malleability and MtGox” posted to the arXiv archive yesterday, authors Christian Decker and Roger Wattenhofer determined that Mt.Gox could not have lost 850,000 bitcoins through a transaction malleability glitch in the site’s code. Instead, the researchers note that an attack of that scale has never taken place, and […]

Kraken gains $5 million in new funding, GoCoin raises $1.5

Posted on 26th March, 2014

The venture capital world has been spreading their money around the bitcoin ecosystem in a big way this week. While much the attention is understandably going to the $17 million raised by Circle, two smaller VC investments may have even bigger impacts in the coming months. San Francisco-based bitcoin exchange Kraken has raised $5 million […]

Canada’s Vault of Satoshi granted Money Service Business License

Posted on 26th March, 2014

Earlier this month, Canadian virtual currency exchange Vault of Satoshi announced it was ceasing all U.S. currency transactions due to ongoing issues with regulators. In recent weeks, the exchange has been focused on becoming a legitimate financial institution in Canada, even though there are few formal rules for how bitcoin fits into Canadian banking law. […]