• The Czech Republic has opted to clamp down on Bitcoin anonymity as part of a range of regulations, which are expected to continue in the coming years. Regulation-Free Czech Crypto Ends From January 2017, the government and European Commission have been underlining the need for exchanges to perform suitable KYC checks on customers. Prior to this, cryptocurrencies were officially unregulated. “This puts new obligations on exchanges and other service providers with virtual money, local news resource

    Czech Republic Moves to Clamp Down on Bitcoin ‘Anonymity’

    | 2017/01/30 7:30 am
  • Mexico’s biggest cash cow is under siege as Donald J. Trump threatens to tax or halt remittances to the country in order to pay for his border wall. Western Union Shares Dive Following Trump’s executive order to start building the southern border wall issued on Wednesday, markets are already taking into account the possibility of a tax on remittances from the U.S. to Mexico. This is already being felt by such remittance giants as Western Union whose shares dropped 2.44% today. As a

    Trump’s Mexico Feud Creating a Perfect Storm for Bitcoin Remittances

    | 2017/01/27 8:00 am
  • Europol, Interpol and the Basel Institute on Governance have revealed three focus areas for their planned regulations on cryptocurrency exchanges. Regulations are Definitely Coming A sure sign that Bitcoin has become more mainstream and accepted than ever is the increase in regulations. Nations are looking for tax revenue from Bitcoin users, and government law enforcement agencies are treating Bitcoin just as they would any other publicly traded currency. Recently, Europol, Interpol and the Basel Institute on Governance

    More Regulations Coming to Bitcoin Exchanges Against ‘Economic Crimes’

    | 2017/01/25 2:30 am
  • Was getting ready to use the very popular website for online services, Fiverr, yesterday, and discovered they are taking a step back with their business for 2017. The Bitcoin payment option I have been using since 2014 is no more. What’s Fiverr? For the few who do not know, Fiverr is the world’s leading online freelance services website that offers “gigs” provided by vendors for just $5 USD. These gigs range from writing press releases

    Fiverr No Longer Accepts Bitcoin After ‘Purely a Business Decision’

    | 2017/01/23 9:00 am
  • Countries are reiterating tax specifications as Bitcoin becomes increasingly regulated around the globe amid rising price and popularity.  Bitcoin Taken Seriously, Increasingly Regulated Starting the year in the $1,000 USD range, Bitcoin has had an eventful month and January isn’t even over yet! So far, we’ve seen many countries take a new stance on Bitcoin in regard to regulations and taxes. Although this may cause some commotion in the short-term, as seen with the Public

    Bitcoin is Being Increasingly Regulated Across the Globe

    | 2017/01/22 4:00 am
  • There has been plenty of positive vibrations coming out of France, as a movement against the European Union by National Front party leader Marine Le Pen builds momentum. All is not well in “The Hexagon,” as this extreme-right wing leader has decided that “The Future of Money” should not be in France’s future. ‘It is Nothing More Than a Ponzi Scheme’ Bitcoin has never been free from controversy or the barbs of the uneducated. Even Russia,

    France’s Le Pen, National Front Party Attacks Bitcoin; Seeks National Ban

    | 2017/01/18 11:30 am
  • Bitcoin started dropping in price once again Wednesday after Chinese authorities stated exchanges “were violating rules.” PBoC: Rules ‘Violated’, AML Measures ‘Not Sound’ Inspections conducted on Huobi and Okcoin by a joint group of overseers including the People’s Bank of China (PBoC) revealed what a statement calls “margin trading which violated rules, resulting in abnormal price fluctuations on the market.” “During the inspection, it has also been discovered that these platforms had not established [a]

    China: PBoC Says Exchanges ‘Violated Rules,’ Repeats Investor Warnings

    | 2017/01/18 10:00 am
  • The Securities and Exchange Commission in Nigeria has issued a public notice in which caution is advised with regards to ‘cryptocurrency’ investments. WARNING: Cryptocurrencies Ahead The Securities and Exchange Commission in Nigeria has issued a warning regarding investing in Bitcoin, Swisscoin, and Onecoin. The public notice seeks to alert the public regarding the risk posed by cryptocurrencies following solicitations of the public to invest. The notice reads: The attention of the Securities and Exchange Commission

    Clueless? Nigeria’s SEC Says Bitcoin, OneCoin Pose Equal Risk

    | 2017/01/14 9:00 am
  • Russia’s Central Bank has said it is “not considering a ban on Bitcoin,” according to its latest public statements. Central Bank: ‘No Concrete Ban’ The comments came from Central Bank vice-chairman Olga Skorobogatova, who was speaking at this year’s Gaidar Forum, an annual event focused on bringing together experts in various fields of the global economy. Skorobogatova (who’s name directly translates as “soon-to-be-rich”) stated: Bitcoin is a private currency, and it’s become clear that all is

    Russia’s Central Bank Says It ‘Will Not Ban Bitcoin’

    | 2017/01/13 10:00 am
  • Bitcoin fell sharply Wednesday to a 2017 low as China’s central bank sought to inspect flagship Bitcoin exchange BTCC for malpractice including “market manipulation.” ‘Joint Inspection’ Results Unknown A translated statement from the Shanghai arm of the People’s Bank of China (PBOC) tweeted by cnLedger Wednesday showed BTCC (also known as BTCChina) is subject to checks for a raft of potentially criminalizing operations. The bank’s Beijing branch also released a similar announcement Wednesday. The “joint inspection” by

    Bitcoin Price Slides as China’s Central Bank Probes Exchanges

    | 2017/01/11 6:00 am
  • The Bitcoin community has been all abuzz over the most recent January drop in Bitcoin value. But what really caused the decline? Was the Chinese government influential in this market adjustment? China Influencing Price Again? Over the past four years, Bitcoin values have consistently taken a tumble in the early part of the year, since the fall of Mt. Gox in February of 2014. 2015 saw Bitcoin reach its lowest levels in two years during

    Did The Chinese Government Cause Bitcoin Bubble Burst?

    | 2017/01/10 9:00 am
  • The surge in the price of Bitcoin may lead to governments stocking up on Bitcoin in an unprecedented “digital commodity race.” Governments’ Bitcoin Reserves? Currently, sitting at around $900 with a $14.55 billion market cap, Bitcoin has been making regular appearances in mainstream media, gaining attention from regular users as well as investors. However, a class of investors that is usually not associated with Bitcoin may soon start to stock up on the digital currency:

    ‘Zero-Risk’ for Governments to Buy Bitcoin as Reserves, Abra CEO Says

    | 2017/01/09 1:00 pm
  • Bitcoin will lose all anonymity in the European Union if governments accept proposals to make exchanges store user IDs and wallet addresses in a central database. Crypto Becomes Fiat In Sheep’s Clothing The concept, put forward by the European Commission allegedly as an anti-terrorism measure, means transactions and wallets will be directly linked to people’s identities. The EU Commission delivered the idea despite Interpol previously highlighting that terrorists actually use cryptocurrencies very little to carry

    Crypto No More? EU Plans Database Linking Users to Wallets

    | 2017/01/07 10:00 am
  • Speculation is growing that Beijing is behind Bitcoin’s sudden $300 drop Thursday, as an uptick in yuan/ dollar value causes a bubble to burst. The Dust Settles? “The Chinese government’s policy is an important factor,” Joseph Yang, a finance worker who owns about $2 million of bitcoins, told Bloomberg Friday. “There may be room for further gains in price, but there’ll be a big pullback soon. It’s hard to sustain such a rapid rise for a

    All Eyes on Beijing as Bitcoin Investors Anxious for Stability

    | 2017/01/06 7:00 am
  • Two weeks ago, managing partner of Berns Weiss LLP Jeffrey K. Burns filed a motion to set aside the “John Doe” summons against any and all American Coinbase customers. Today, the IRS had an interesting response for Mr. Berns. IRS Counters: Berns’ ‘Motion is Moot’ The Bitcoin community has been somewhat justified in their disturbance over the recent “John Doe” summons against any and all American Coinbase customers a little over one month ago. Thusly,

    The Empire Strikes Back: IRS Counters Coinbase Customer’s Action

    | 2016/12/29 2:30 am
  • The U.S. government has acknowledged monitoring the progression of cryptocurrencies. However, Bitcoin’s transparent public ledger and pseudonymity may allow it to fly under the radar.   U.S. Gov’t Monitoring Bitcoin Since Beginning CSRA Inc., which provides information technology services to the U.S. Department of Homeland Security, has confirmed to Newsweek that Bitcoin was under surveillance as early as its initial development. The biggest concern is that the peer-to-peer, trustless monetary network may lead to an unprecedented creation of

    U.S. Gov’t is Monitoring Crypto, But Bitcoin May Fly Below Radar

    | 2016/12/25 4:00 am
  • EU legislation could legalize “widespread checks” on bank transfers as part of increased security measures to combat terrorism. Gold, Cards, Bank Transfers Under Scrutiny In the wake of the supposed terrorist attack on Berlin this week, the EU Commission has already called for tightened security restrictions throughout the 28-member bloc. Border controls may soon be able to confiscate items such as precious metals and even prepaid debit cards, which a Reuters release states are used to finance

    EU to Snoop on Gold, Cards and Bank Transfers in Security Shake-Up

    | 2016/12/22 5:30 am
  • The Russian parliament the Duma has said cryptocurrency “is becoming objective reality” following its legalization earlier this month. Duma: Bitcoin Not A Dream In continuing debates over how to regulate Bitcoin and its ilk, the country’s Duma is attempting to work out an appropriate course of action. “It’s worth noting that today, cryptocurrency is becoming objective reality,” Andrey Lugovoy, a member of the Security and Anti-corruption Panel, said Tuesday. Given its nature, it’s important to recognize

    Russian Duma: Bitcoin is Becoming ‘Objective Reality’

    | 2016/12/21 6:00 am
  • Pakistan has announced plans to remove its largest currency notes from circulation as Bitcoin buying has surged fourfold in the country. Pakistan Joins War on Cash The demonetization policies that have been recently implemented in countries like India and Venezuela are now spreading across the globe. More and more countries are attempting to eliminate cash transactions in what is being called an effort to reduce corruption, money laundering and black market economy. This time, Pakistan is joining the

    Bitcoin Buying Up 300% in Pakistan, Demonetization’s Next Domino

    | 2016/12/20 11:00 am
  • Wall Street veteran and Bitcoin enthusiast Tone Vays shared his insights with Bitcoinist on SegWit, Coinbase and the IRS, Ethereum, and Donald Trump.  Interview with Tone Vays Bitcoinist: You’ve mentioned on your blog that we need SegWit to pass “for Bitcoin’s future.” Why is SegWit activation so important right now?   Tone Vays (TV): I feel that SegWit is very important. It was put together by some of the smartest financial engineers in the world that truly understand the

    ‘If SegWit Doesn’t Pass, It’s Likely Nothing Else Will Either’ – Tone Vays

    | 2016/12/08 3:05 am
  • Late on Tuesday, I received a very sad email from Gavin Stevens, founder of Solid Cloud, and creator of Bitphone, the first-ever encrypted, Bitcoin-accepting online video calling service. Also read: 12 YEAR OLD ‘DISRUPTS LONDON’ WITH VIRTUAL CURRENCY FOR KIDS The contents were sad, but the tone was not of remorse, but of anger and frustration. They had contacted me, as a Bitphone user on their list, to alert me that they were shutting their

    Bitphone, The World’s First Encrypted Skype Competitor, Closes Down

    | 2016/12/07 3:00 am
  • The government of Vietnam has signalled it is time to consolidate cryptocurrency regulations as its current provisions “fall short.” Also read: INDUSTRY REPORT: ASIA CONTINUES TO DOMINATE IN BITCOIN AND BEYOND Current E-Money Provisions ‘Fall Short’ in Vietnam In a report this month, the government as associated ministries commented proper management and research were required to manage the identity of Bitcoin and other currencies within Vietnam. “Vietnam law has provisions on electronic money but these full

    Vietnam Plans to Regulate Bitcoin as Current Laws ‘Fall Short’

    | 2016/12/05 7:00 am
  • Attorney and Bitcoin advisor Marco Santori has hailed “the end of state-by-state licensing” following news that fintech startups will no longer face “patchwork” local compliance procedures. Also read: RUSSIA’S TAX SERVICE CONFIRMS BITCOIN LEGAL STATUS AS FOREIGN CURRENCY OCC Wants ‘Level Playing Field’ The Office of the Comptroller of the Currency (OCC) announced Friday that limited bank charters will be available for fintech companies. This, Comptroller of the Currency Thomas Curry said, would “level the playing

    US Regulations: OCC Puts End to State-By-State Compliance Mess

    | 2016/12/03 9:00 am