Blog Archives

Neo & Bee staff tell their side of the story

Posted on 18th April, 2014

The story of would-be “bitcoin bank” is sure to become the stuff of cryptocurrency legend. From the high-profile launch of the company in Nicosia, Cyprus, to the dramatic collapse of the company only a month later, at every turn the Neo tale has been filled with drama, mystery and intrigue. Was founder and CEO Danny […]

Arrest warrant issued in Cyprus for Neo & Bee CEO

Posted on 12th April, 2014

In a report published today by the Cyprus Mail, Cyprus police have issued an arrest warrant for Neo & Bee CEO Danny Brewster. The report claims that Brewster is named as a “a person of interest in an ongoing investigation” in the fraud investigation, but it’s not clear if he is the primary suspect in […]

Neo & Bee CEO to step down following insolvency concerns

Posted on 2nd April, 2014

In February, the world’s first “bitcoin bank” Neo opened to much fanfare in Cyprus. Barely a month later, the stock price is in the gutter, stock trading on Havelock has been halted due to “unusual activity,” the company’s offices in Cyprus are shuttered, and CEO Danny Brewster is no longer in the country. There has […]

University of Nicosia proposes Cyprus become a “worldwide Bitcoin hub”

Posted on 8th March, 2014

In a recent conference at the University of Nicosia in Cyprus, university CFO Dr. Christos Vlachos gave a presentation about Bitcoin to the Cypriot government and Cyprus Stock Exchange. The highlight of the presentation was a formal proposal to the government for “Converting Cyprus into a worldwide hub for Bitcoin trading and processing.” According to […]

Central Bank of Cyprus: “Bitcoin is not illegal”

Posted on 26th February, 2014

Speaking with the Cyprus Mail, a representative of the Central Bank of Cyprus confirmed that Bitcoin is perfectly legal in the country. “Bitcoin is not illegal, but at the same time neither is it subject to control or regulation,” said an unnamed spokesperson for the central bank. The timing of the confirmation is key, as […]

“Bitcoin Bank” Neo opens in Cyprus

Posted on 24th February, 2014

Earlier today, the offices of “bank like” Bitcoin service provider Neo opened in Cyprus. The company provides many of the financial services of a bank, such as savings and business accounts, as well as providing access to funds through a debit card-like system powered by their sister company, Bee. The launch is already being hailed […]