Monthly Archives: August 2014

Is Ecuador’s proposed Bitcoin-like digital currency a desperation move?

Posted on 5th August, 2014

Last month, the long-troubled South American country of Ecuador came to the attention of the bitcoin community when the country’s Congress passed a new law that would create a state-backed digital currency, while at the same time banning the use of existing cryptocurrencies. The move struck many as extraordinarily preemptive, as bitcoin adoption in Latin […]

Russian regulators move to formally outlaw bitcoin

Posted on 5th August, 2014

Under a new proposal released by Russia’s Ministry of Finance, the use of cryptocurrencies in the already bitcoin-hostile country could become a criminal offense. The ministry released the proposal on its website last week. Bitcoin and other digital currencies are already “forbidden” in Russia, although the country has provided little clarity on what this means […]

Popular, controversial radio host Alex Jones now accepts bitcoin

Posted on 5th August, 2014

There are few personalities on the fringes of popular culture quite as polarizing as Alex Jones. The host of the syndicated The Alex Jones Show radio program is heard on well over 100 AM and FM stations across the country, bringing a mix of hardcore libertarian thinking, iffy conspiracy theories and news commentary to an […]

Following debit-card controversy, Xapo says it will refund fees

Posted on 5th August, 2014

After days of silence, Xapo has responded to customer concerns about the recently updated fee schedule for their recently released, bitcoin-backed debit card. The Palo Alto-based bitcoin wallet and “vault” service had promised a service with no additional customer costs beyond a one-time $15 activation fee and standard credit card interchange fees, but a revision […]

New report suggests France is considering bitcoin regulation

Posted on 4th August, 2014

Late last month, the French Senate’s finance committee held a meeting about the future of digital currencies in the country, addressing many of the challenges presented by cryptocurrencies for both regulators and the existing finance infrastructure. This week, the French Senate released a follow-up report, outlining a regulatory framework for bitcoin and similar networks. The […]

Report: Visa CEO says company could process bitcoin payments

Posted on 4th August, 2014

In a story published by The Australian Financial Review (AFR), Visa’s CEO Charles Scharf said that the payment company could handle bitcoin-based payments in the future, although it currently had no plans to integrate such payments. Scharf’s was speaking at the opening of Visa Labs in San Francisco, and the comments were prompted by a […]

Ross Ulbricht’s defense claims FBI violated Fourth Amendment in Silk Road case

Posted on 4th August, 2014

The case against alleged Silk Road mastermind Ross Ulbricht is already causing a serious rethinking of what existing statutes mean in the age of cryptocurrency. While there is little doubt that the Silk Road was a haven for recreational drug sales and other decidedly illegal services, there are still many open questions about how existing […]

Report: BTC.com purchased for $1.1 million

Posted on 4th August, 2014

If you needed proof that bitcoin-related domain names are quickly becoming a hot commodity, look no further than today’s news that cryptocurrency mining hardware retailer GAW Miners has purchased BTC.com for an eye-popping $1.1 million. According to a report on Cryptocoins News, the domain has been available for at least a few weeks, with several […]

Report: Bitcoin Foundation files amicus brief in Florida LocalBitcoins case

Posted on 3rd August, 2014

In February, two Florida men were charged with money laundering for selling bitcoin to two undercover agents in a sting operation. The case has already been challenged on a variety of fronts, including the validity of the claim that a bitcoin transaction would even qualify under Florida’s laws as “money,” but thus far those claims […]

Xapo’s new bitcoin-powered debit card sparks controversy

Posted on 2nd August, 2014

Secure bitcoin wallet provider Xapo grabbed the attention of cryptocurrency users across the U.S. earlier this year when it announced plans to release a new bitcoin-backed debit card. The card would instantly withdraw a given dollar amount from a Xapo wallet, selling the bitcoin via an exchange in seconds. While some standard interchange fees would […]