Monthly Archives: June 2014

MasterCard patent reveals potential bitcoin incorporation

Posted on 30th June, 2014

In a patent filed on June 19, credit card industry giant MasterCard hinted at a potential future adoption of bitcoin as a payment method. The patent, which outlines a “global shopping cart and a method for its use,” isn’t specific to bitcoin, and only mentions the cryptocurrency a handful of times, but it does clearly […]

Report: Update from U.S. Marshals Service about Silk Road auction bidders

Posted on 30th June, 2014

Representatives from the U.S. Marshals Service confirmed new details about the auction to CoinDesk, adding fuel to the fire of speculation about the results. The agency said that a total of 45 registered bidders participated in the auction, and that 63 bids were placed on the nearly 30,000 BTC seized from the Silk Road black […]

Report: IRS says bitcoin not reportable on FBAR

Posted on 30th June, 2014

Each year, investors with over $10,000 in foreign financial assets are required to filed a report with the Financial Crimes Enforcement Network (FinCEN). The report, officially known as FinCEN Form 114: Report of Foreign Bank and Financial Accounts, is still widely known in investment and accounting circles by its previous name, Foreign Bank Account Report […]

Bitcoin market holds breath for news about Silk Road auction

Posted on 30th June, 2014

Over the weekend, speculation has been rampant about the results of the U.S. Marshal Service’s auction of nearly 30,000 bitcoin. Theories about the price point of each 3,000 BTC block, the intentions and identities of the bidder and the ultimate impact of the sale have flooded Twitter, Reddit, Bitcoin Talk and other popular bitcoin-discussion havens. […]

Report: Bitcoin Job Fair sees “overwhelming” turnout

Posted on 29th June, 2014

According to a report on CoinDesk, yesterday’s Bitcoin Job Fair in New York City’s Financial District drew a crowd of over 200 would-be bitcoin industry workers. The event was hosted at Bitcoin Center NYC, and was attended by 11 bitcoin-industry companies including Coinbase, BitPay, Coinbase and eGifter. Speaking with CoinDesk, organizer Alex Palantzas said that […]

California Governor signs law making bitcoin “legal money”

Posted on 28th June, 2014

Earlier this week, the California State Assembly sent Assembly Bill 129, which formally recognizes bitcoin and other digital currencies as legal forms of exchange, to the desk of Governor Jerry Brown. Brown signed the bill into law today, making California the first state to give such recognition and legal protection to bitcoin. Although the law […]

Report: Consumer Financial Protection Bureau may become bitcoin watchdog

Posted on 27th June, 2014

In May, the Government Accountability Office (GAO) drafted a confidential report about the increasing need for meaningful digital currency policies. The GAO report suggested that the Consumer Financial Protection Bureau (CFPB) be tasked with the job. The agency was created in the wake of the 2007 financial crisis, and is already tasked with handling thorny […]

Prices recover as U.S. Marshals’ Silk Road auction begins

Posted on 27th June, 2014

For the last two weeks, the bitcoin community has been abuzz about the auction of nearly 30,000 BTC by the U.S. Marshal Service. The bitcoin, seized last October from the now-defunct Silk Road marketplace, is being offered in 10 blocks. The “Dutch”-style auction is built around sealed-envelope system, removing most of the human drama from […]

Mt.Gox CEO Mark Karpeles breaks silence on failed exchange

Posted on 27th June, 2014

There are few people in the bitcoin community in need of a public-relations makeover more than Mark Karpeles. As the sole person in charge of the code when Mt.Gox lost roughly $500,000,000 in customer deposits, Karpeles has become the target of ridicule, anger, death threats, lawsuits and criminal investigations. While all of that is completely […]