• When the New York Department of Financial Services (NYDFS) released the final draft of BitLicense, the community worried about Bitcoin companies having trouble complying with the law. Digital currency administrators, exchanges, and traders have 45 days to apply for BitLicense; however, many of them might not be able to meet the requirements of BitLicense. In such situations, IdentityMind Global™ may help companies by providing a BitLicense compliance management platform. Also read: The Final BitLicense: Revisions and Reactions from the Industry As

    IdentityMind Global™ Advises on BitLicense Compliance

    | 2015/06/23 12:00 pm
  • bitSome local newspapers and online portals are reporting that Polish banks are forcing online payment providers, such as Cashbill and Bluemedia, to terminate contracts with Bitcoin exchanges and cantors. It appears that the issue is currently only being reported by Polish language media, as not a lot of information regarding the issue available in English media. When Bitcoinist received an e-mail from Justyna Laskowska Witek of BitBay.net, we learned that his company is not the only one affected by

    Poland Banks Pushing Companies to End BTC Exchange Contracts

    | 2015/06/22 3:00 pm
  • The highly restrictive and controversial New York BitLicense has claimed another victim. Eobot, a Bitcoin cloud mining company, will be ceasing operations in New York state as of July 1, 2015.  Also read: BTCGuild Shuts Down Because of BitLicense Eobot has made the decision to cut off its services to New York because it believes the BitLicense requirements are “excessive”: From Eobot: “To All Customers: If you are residing in and/or accessing Eobot within the

    BitLicense Damage: Eobot Ceases New York Operations

    | 2015/06/18 9:27 pm
  • In a statement issued to the public, Bank Indonesia says that citizens are encouraged to be careful toward Bitcoin and other virtual currencies, as they are not currencies or legal payment instruments. It further declared that all risks related to the ownership and use of Bitcoin should be borne by the owners. Also read: Ecuador’s e-Money Initiative Outlaws Bitcoin, Makes Mandatory for Banks to Follow Dictate In January of 2014, the deputy governor of Indonesia’s central bank

    Bank Indonesia: Bitcoin Not Currency or Legal Payment Tool

    | 2015/06/18 8:00 am
  • Recently, Ben Lawsky, the Superintendent of the New York Department of Financial Services (NYDFS) released the final draft of the infamous BitLicense. This piece of regulation would place a set of restrictive requirements upon Bitcoin businesses operating in new york. The most controversial of the code’s stipulations include fingerprinting company employees, monitoring customer activity, and strict capital requirements. Also read: Bitcoinist Assistant Editor’s Formal BitLicense Comment This final version of BitLicense is the third draft

    The Final BitLicense: Revisions and Reactions From The Industry

    | 2015/06/15 2:00 pm
  • William ‘Bill’ Dennings III has joined Bitreserve as Chief Information Security Officer (CISO), bringing over two decades of experience to the company. Before joining Bitreserve, Dennings worked as CISO for MasterCard for 15 years, and was Nike’s first ever CISO. Thus, he comes with comprehensive work experience to help Bitreserve move ahead safely and securely. Also read: Bitreserve Now Allows You to Peg Bitcoins to Swiss Franc Dennings is an expert in the information security

    William Dennings Joins Bitreserve as Chief Information Security Officer (CISO)

    | 2015/06/13 8:00 am
  • Inside Bitcoins is excited to host its next bitcoin event on July 10-11 2015 in Chicago, Illinois. The 2-day event will take place at the Navy Pier and feature the most pertinent bitcoin topics. Some of the sessions will be on blockchain-based Startups, investing, security and risk mitigation, fintech innovation, Bitcoin for non-profits, and mobile payments. Also Read: Bitcoin Meetup Growth Around The World (April 20th – May 19th 2015) Perhaps one of the most exciting elements

    Inside Bitcoins Comes to Chicago

    | 2015/06/12 3:00 pm
  • The Bitcoin regulation in New York will be affecting many digital currency companies for quite some time to come. And by the looks of it, one company is already halting all of their services in the state of New York, as a protest against the BitLicense regulation. ShapeShift feels the time has come to take a stand against this “immoral and unethical” regulation of Bitcoin. Also read: New York’s BitLicense Faces Competition From Rand Paul

    ShapeShift.io Refutes BitLicense, Halts Services in New York Area

    | 2015/06/11 6:38 pm
  • In July 2014, the National Assembly of Ecuador banned Bitcoin and decentralized digital currencies while establishing guidelines for the creation of a new, state-run currency, not a lot of people had thought the country would move so fast on the initiative. However, now Ecuador’s e-money initiative is about to see wider institutional involvement following a government directive. Also read: BlockTrail Acquires Social Messaging App SendChat In a mandate in Resolution 064-2015-M, released on May 25

    Ecuador’s e-Money Initiative Outlaws Bitcoin, Makes Mandatory for Banks to Follow Dictate

    | 2015/06/10 8:00 am
  • Trust is a component in both gold currency and Bitcoin, although working in two fundamentally different ways. With gold, trust is almost always required, be it in mining, minting, or banking. On the other hand, with Bitcoin, mandatory trust only enters the equation with a centralized mining network. All other trust requirements with Bitcoin occur when an individual voluntarily gives a company or other person control over his or her coins. Also read: Is Bitcoin Better

    Is Bitcoin Better Than Gold? Part Two: Trust

    | 2015/06/04 3:00 pm
  • After rumors of Coinbase not working for users located in Wyoming, Coinbase has since come out with an announcement that they will be indefinetly suspending service to users in Wyoming. This comes from an issue with The Wyoming Division of Banking in which recently communicated regulatory policy causes uncertainty for the legality of digital currency operations. Also read: Legislators to Introduce Pro-Bitcoin Bill in New Jersey Coinbase, in their post stated: “Although we strive to provide

    Coinbase Suspends Service in Wyoming Indefinitely

    | 2015/06/03 8:33 pm
  • In New Jersey, two legislators have brought a bill to the state legislature (A4478) that will create a regulatory framework for Bitcoin-related companies. Both the legislators and some in the Bitcoin community have touted the bill as a positive step towards bringing the cryptocurrency to the mainstream. Also read: 12charge Allows You to Pay for Utilities and More With Bitcoin A4478, alternatively titled the “Digital Currency Jobs Creation Act,” was introduced with the purpose of

    Legislators to Introduce Pro-Bitcoin Bill in New Jersey

    | 2015/06/03 3:00 pm
  • The Chamber of Digital Commerce (CDC) has launched its newly updated website, which includes an automated online membership portal, as well as the announcement of the advisory board and prominent member companies. Among these member companies is MecklerMedia, one of the leading producers of global trade shows featuring Bitcoin, 3D printing, and robotics. MecklerMedia has multiple global events on various topics coming up in the following months. Through the new portal and ease of membership, the CDC

    Chamber of Digital Commerce Launches New Site, Announces Advisory Board

    | 2015/06/03 8:00 am
  • This interview was conducted before Changpeng Zhao’s post in /r/bitcoin explaining how OKCoin failed to respect its gentlemen’s contract. Therefore, that Reddit post acts as further support for Roger Ver, who shares his point of view below. Also read: To Avoid Legal Hassle With Roger Ver, OKCoin Stops Managing OKCoin.com Below the interview, readers can find excperts from Zhao’s Reddit post. Reading the emails OKCoin and you exchanged, no where does it appear that OKCoin

    Roger Ver on OKCoin’s Breach of Contract, Changpeng Zhao’s Latest Revelations

    | 2015/06/01 8:00 am
  • Under the Defence Trade Control Act (DTCA), Australians could face up to ten years in prison for teaching encryption. Criminal charges will go into effect next year. The new legislation will make it illegal for Australians to  teach or provide information on encryption without having a permit. Also Read: Authorities Uncover Bitcoin-Funded Gunrunning Operation Australia’s Department of Defence originally passed the Defence Trade Control Act on November 13, 2012. However, amendments were made to the

    Teaching Encryption Soon to Be Illegal in Australia

    | 2015/05/23 7:00 pm
  • Update:  Clarification from Mr. Ver Roger Ver claims that the CEO of OKCoin forged a contract and then forged his name onto it; PGP cryptographic signatures have proven it to be a forgery. He says OKCoin going to such extremes so that it can get out of a $10,000/month payment. According to him OKCoin is already insolvent and doesn’t have the money.   Though OKCoin in its official blog post says it is abandoning the

    To Avoid Legal Hassle With Roger Ver, OKCoin Stops Managing Bitcoin.com

    | 2015/05/23 12:57 am
  • In recent weeks, we have seen an increased level of interest in Bitcoin in South American countries, such as Argentina. Is this the beginning of a Bitcoin boom in South America, or should we be more realistic? Also read: Chip Chap Lets You Buy Bitcoin From 5,000 Major Retailers South American Governments Wary of Bitcoin South American countries are notorious for their history financial instability. Not only are most countries plagued with hyper-inflationary local currencies such as

    Bitcoin in South America: Progress in the Face of Criticism

    | 2015/05/20 3:00 pm
  • Speculation is running wild in the world of Bitcoin and digital currency after Rand Paul announced his tech counsel team members. Among those members are some very important people in the Bitcoin industry, particularly Overstock CEO Patrick Byrne. But what does Rand Paul need a tech counsel for, and what will Byrne’s appointment mean for Bitcoin and digital currency in general? Also read: Rand Paul Accepts Bitcoin for 2016 Campaign Donations  Rand Paul: Accepting Bitcoin Donations for Political

    Rand Paul Names Patrick Byrne as Part of Tech Counsel

    | 2015/05/12 8:00 am
  • Our society is evolving into a cashless economic infrastructure. Several European countries are trying to discourage people from using cash in order to pay for goods and services. That seems only normal, as cash transactions are a hassle when dealing with change amounts. The list of downsides when dealing with cash transactions is rather lengthy, and if Danish government has any say in the matter, Denmark will become completely cash-free in the near future. Also

    Bitcoin to Play a Key Role in Denmark’s Cash-Free Economy?

    | 2015/05/11 7:00 pm
  • The world of Bitcoin and digital currency is plagued by regulatory uncertainty across the globe. Several countries are debating on how they should regulate Bitcoin, while other countries are focusing on taxing digital currency. In the United States, regulation depends on which state your business operates in. But the American Bar Association may change all of that in the near future. Also read: Bitcoin Regulation Is Still Far Away For America The Current State of Bitcoin

    American Bar Association to Host Event on Bitcoin Regulation

    | 2015/05/11 3:00 pm
  • Deep Web is the untold story of bitcoin, the Silk Road, and the dark corners of the “deep web.” The documentary film offers an exclusive look into the Ulbricht family and the infamous online black market that has become one of the most epic legal battles in the history of bitcoin. Also read: Secret Service and DEA Steal Silk Road Bitcoins and Extort Money From Ulbricht In an attempt to uncover hidden truths behind Silk

    Alex Winter Delves Into His New ‘Deep Web’ Documentary

    | 2015/05/09 3:00 pm
  • The history of Bitcoin is still plagued by the Mt. Gox collapse. After allegedly losing several hundreds of millions of dollars in Bitcoin due to a hack, the exchange was forced to halt its services. A lot of people around the world have been affected by this debacle, and quite a few of them took the matter to court. As a result, it is now possible to file a claim for lost funds, in the hopes of retrieving

    The Mt. Gox Post-Bankruptcy Claims: A Detailed Guide

    | 2015/05/08 8:00 am
  • In an exclusive interview with Bitcoinist.net, Jim Fulner, the 2014 Libertarian candidate for the U.S. Senate from Michigan, says Bitcoin is, and should continue to be, primarily a currency that stands alone. As a staunch Bitcoin advocate, Fulner said that Bitcoin can facilitate exchange just as efficiently as any other currency. Also read: Rand Paul Vouches for Bitcoin at NY Fundraiser Event Fulner says, “I don’t foresee any time in my life that Bitcoin ceases to

    Jim Fulner: Bitcoin Can Become the “Reserve Currency”

    | 2015/05/04 5:00 pm