April 11, 2016 — A decentralized currency can not only exist with regulation and oversight, it must. Following publication in Cointelegraph of the Vanbex Report titled, Outlawing Bitcoin: A Matter of Control, commenter Simon remarked: “So a decentralized currency requires … centralization?” Written by Brandon Kostinuk The Necessity of Oversight in Decentralized Currencies This comment arose from a statement in the article that read: “A decentralized digital currency requires regulation and oversight.” His confusion — incredulity,
There appears to be a new weapon in the battle for divorce by vindictive estranged partners: bitcoin. Yes, it turns out that bitcoin is causing a bit of a stir in the legal community. In many countries wealth isn’t divided equally based on how much a person earns, but how much is contributed to the marriage. An example of this is a man with a hefty income and a wife who acts as a housewife who raises the kids
April 5, 2016 — Trying to decide if Bitcoin is a currency or an investment is not unlike trying to discern whether light is a particle or a wave. The correct answer of course is, it’s both. Bitcoin faces a multitude of battlefronts that may obstruct it from further pushing into the mainstream, as a universally accepted currency. The Vanbex Report is a periodic summary of the blockchain industry’s top news stories from the biggest companies,
Mar. 29, 2016 — On Wednesday (Mar. 23), Russia’s ministry of finance continued on with its pursuit to outlaw the world’s top cryptocurrency, Bitcoin (BTC). The Vanbex Report is a periodic summary of the blockchain industry’s top news stories from the biggest companies, as well as the most promising newcomers. Banning BTC? This time, the new draft for the official banning of the production and circulation of BTC comes attached with punitive damages that could
Russia has always been referred as a bitcoin unfriendly country. However, the crypto industry is growing stronger than ever and despite the old stigma that bitcoin is only used by cyber criminals and for money laundering, the industry is still booming in the country.
Bitcoin exchanges in Europe are soon to be regulated under the scope of Europe’s Anti-Money Laundering Directive. The European Commission issued a statement late Tuesday night detailing new efforts to control financial flows and money transfers, which it described as aimed at subverting terrorist financing. Among these mechanisms are bitcoin and other virtual currencies. The Commission “proposes to bring virtual currency exchange platforms under the scope of the Anti-Money Laundering Directive, so that these platforms
The online gambling industry has recently been caught by a heavy revenue decrease. Government restrictions all over the world have been threatening this healthy industry. The issue has influenced a lot of companies to start using digital currencies to freely provide gambling services to users all around the globe.
The goal of this article is to review the growth of Bitcoin as a whole over 2015 compared with 2014. This article will be broken down into months, covering January-December. Bitcoin’s price over the months will be explained simply rather than in-depth for the sake of brevity. I hope you enjoy a review of 2015! Also read: SF Block Chain Conference by Lighthouse Partners to Feature More than Just Bitcoin Disclaimer: The author is invested
The Netherlands is often seen as a region where regulators are doing their best to keep up with financial innovation. IN the Bitcoin world, this has lead to a healthy startup ecosystem in the country, with clearly defined taxation rules. But a new report from Holland FinTech touches upon several barriers that are preventing future growth in The Netherlands, which include regulation and collaboration with financial players. Also read: DASH Block Size Increase Reaches Consensus
After law enforcement agencies from Austria, Bosnia and Herzegovina, Germany, and the United Kingdom met in December to plan an operation against the cybercriminal group DD4BC (Distributed Denial of Service – DDoS – for Bitcoin), an official with Europol has told Bitcoinist that Bitcoin, and other crypto-currencies, is playing an increasing role in all criminal activities. Also read: Carl Force’s Lawyer is Pessimistic About Ulbricht’s Appeal Europol Says Bitcoin is Being Used in Cybercrime The
A lot of people in this world feel that regulations are needed to help better the world. Others believe that policies and restrictions stifle innovation and work only for those who can manipulate the odds. Brewster Kahle is a man who for two years tried to start a credit union and failed due to the regulatory process by the National Credit Union Administration’s (NCUA) stipulations. Especially since the bank tried to help low-income New Jersey
Now that Bitcoin is gaining more popularity all over the world; the time has come – once again – for central banks to warn about the potential dangers of digital currency. Just a few days ago, a similar warning was issued by the Minnesota Commerce Commissioner. But this time, it’s the central bank of Kenya issuing a statement on trading or holding Bitcoin and other virtual currencies. Also read: Minnesota Commerce Commissioner Mike Rothman Warns
Warnings against the usage of Bitcoin are nothing new in the for Bitcoin enthusiasts, and the recent statement by the Minnesota Commerce Commissioner is not mentioning anything the world hasn’t heard before. The recent “manhunt” to identify Satoshi Nakamoto – the creator of Bitcoin and blockchain technology – showcased the popular digital currency’s mystery aspect. That doesn’t mean Bitcoin buyers should be worried about anything just yet, though. Also read: New KnCMiner Data Center Will
Bitcoin has been “unbanned” in Taiwan. Well, that’s not exactly accurate. Sources are claiming that the digital currency was never banned in Taiwan in the first place, despite Central News Agency’s — one of Taiwan’s largest media outlets — recent report that the country’s Financial Supervisory Commission (FSC) labeled bitcoin and digital currencies “illegal.” The words are attributed to Tseng Ming-Chung, an FSC officer who during a legislative hearing, allegedly referred to digital currencies as “unlawful.” Also read:
The Bank of Canada may be starting an initiative that will look into changing their monetary policies. The central bank’s second in command Carolyn Wilkins had some encouraging words to say about Bitcoin. It’s possible they are tired of the results of quantitative easing and manipulated interest rates so they have begun looking into alternative tools that may stave off the financial crisis and a stagnate economy ahead. Also read: Bitcoin in Business: Smart Contracts
Jamie Dimon, the CEO of JP Morgan — America’s largest bank — sees bitcoin as a waste of time. Solidifying his status as the male version of Blythe Masters, Dimon is enthusiastic and positive when it comes to the blockchain, but dismissive of the country’s favorite digital currency. Also read: Voting Machines Running Blockchain Technology Are No Longer Just A Theory “Separate currency from the blockchain… My belief is that there’s not going to be
Over the past few years, there has been an interesting debate going on regarding how Bitcoin should position itself in the regulatory landscape. While the opinions are divided as to how the solution should look like, there may be a third solution hardly anyone has ever thought of. Sometimes it’s not about picking sides, but trying to collaborate with every party involved. Also read: Stacking The Odds – Winning The Lottery Jackpot or Investing in
Russia and Bitcoin will never go hand-in-hand, by the look of things. In fact, it looks like a proposal is on the table to make the trading of Bitcoin punishable by law in the country, which could lead to a four-year prison sentence. Russia’s Ministry of Finance is cracking down on cryptocurrencies in general, and this new proposal could just be the beginning of things to come. Also read: Marijuana Industry Could Still Use Bitcoin
Today, the 22nd of October, The European Union's top court ruled that Bitcoin and digital currencies should be exempt from sales taxes within the 28-country block.
Bitcoiners got to enjoy some exciting market activity this week, with the Bitcoin price rising to levels that have not been seen in several months. Towards the end of the week, the price broke into the $270s, but quickly settled down into the low $260s, which some people hope will be a new bottom. Also read: Apple Pay Stumbles After Initial Support — Bitcoin A major Competitor Daily Bitcoin Price Action October 12: $247.83 October
Privacy is one of the major topics of concern for everyday consumers these days. Especially as far as online data is concerned, there doesn’t seem to be any form of privacy left. But in California, that situation is about to change. Law enforcement agencies will need to obtain a legal warrant if they intend to snoop at somebody’s online data, including email accounts. Also read BlockChainGroup.io President Shone Anstey on new Bitcoin Blockchain Analytics Engine
Tax evasion is a real threat to the global economy, and the biggest culprits are large corporations abusing loopholes to avoid paying taxes. According to research estimates, a total of US$240 billion worth of taxes is not being paid by corporations all over the world. Such a vast sum of money could do a lot of good all over the world, and it is time these practices come to an end. Also read: Bitcoin in
On October 2 the National Bank of Ukraine warned regional banks and executives of the certain risks using virtual currency. This comes after previous warnings in 2014 with the financial institution giving similar warnings. Due to the Bitcoin conference in Kiev many in the banking community have seen a surge of interest in the digital currency. This newly found enthusiasm can be seen with many participants at conferences and meetings held amongst the Ukrainian banking