Blog Archives

China’s Central Bank Bans ICOs

Posted on 4th September, 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 […]

Bitcoin use now a “punishable offense” in Bangladesh

Posted on 16th September, 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 […]

Russia may formally ban bitcoin in 2015

Posted on 14th September, 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 […]

Report: Bolivia’s central bank bans bitcoin

Posted on 19th June, 2014

In a move aimed at protecting its national currency, the boliviano, Bolivia’s central bank official prohibited the use of bitcoin and other cryptocurrencies today. Although the policy was created by El Banco Central de Bolivia back in early May, it has only recently become known to the general public following a story by Spanish-language news […]

Bitcoin price dives $50 on new China rumor

Posted on 25th April, 2014

Bitcoin prices fell by roughly $50 late last night following a story on China’s Caixin news service that the People’s Bank of China had privately warned banks and payment companies to close the accounts of bitcoin-related businesses. According to a translation posted to Reddit, PBoC officials met with representatives from several large banks, Tenpay, PayPal […]

Congressman mockingly calls for ban of U.S. dollar after proposed Bitcoin ban

Posted on 5th March, 2014

Last week, Senator Joe Manchin (D-WV.) wrote a letter to the Treasury, Federal Reserve and other related financial agencies warning of the dangers of Bitcoin and proposing a ban on virtual currencies. Today, Representative Jared Polis (D-CO) published his own letter in response, warning of the dangers of physical bills of U.S. dollars. The tongue-in-cheek […]