• The Bitcoin-based lottery TrueFlip was banned in Russia and is now planning to take the case to court. TrueFlip Lottery Banned in Russia Bitcoin-based lottery TrueFlip announced that its website was classified as prohibited in the Russian Federation. Although the website operators do not agree with this decision, TrueFlip complied with and blocked access to the website in the region. The project’s official statement reads: TrueFlip complies with the law, and we will point that out

    Bitcoin Lottery Startup TrueFlip Banned in Russia

    | 2017/06/07 11:00 am
  • The European Union’s (EU) latest attempt to centralize data from decentralized systems comes in the form of dark web project TITANIUM. ‘Consortium’ Tackles ‘Criminal Use Of Dark Web’ Sponsored by the Austrian Institute of Technology GmbH (AIT) under the auspices of the European Commission, a fifteen-strong “consortium” made up of seven EU member states will look at how to “prevent criminal use of the dark web and virtual currencies.” TITANIUM, which stands for Tools for

    EU, Interpol Form ‘TITANIUM’ Consortium to Stop Criminal Use of Virtual Currencies

    | 2017/06/05 1:50 pm
  • Russia has confirmed it is developing its own bank-backed cryptocurrency amid mixed reports about its future status. Central Bank VP: Cryptocurrency ‘Is The Future’ Various sources report that Central Bank senior vice-president Olga Skorobogatova, who was speaking at the St. Petersburg International Economic Forum 2017, confirmed lawmakers’ next move as part of Russia’s increasingly hands-on approach to cryptocurrency. “Regulators of all countries agree that it’s time to develop national cryptocurrencies, this is the future,” local news agency

    Russia Will Develop ‘Only Freely Tradeable’ National Cryptocurrency

    | 2017/06/02 2:30 pm
  • Chinese Bitcoin miners are deliberately shutting down operations due to worries over future regulatory pressure. Chinese Abandoning ‘Legal’ Mining As the traders begin withdrawing BTC under new laws, mining farms in the country’s Szechuan province are concerned a lack of rules for them might lead to repercussions. “Bitcoin regulation that the central bank conducted mainly focused on financing and leveraging trading among platforms,” Zhang Jun, a senior analyst at Tai Cloud Research Institute, told YiCai Global.

    Chinese Bitcoin Miners are Closing Shop in Fear of Future Clampdown

    | 2017/06/02 2:30 am
  • The Big Three Chinese exchanges have finally resumed Bitcoin withdrawals as trading volume appears to be coming back, pushing BTC price back above $2,400. China’s “Big Three” Resume Withdrawals Bitcoin withdrawals were expected to be unfrozen since March, however, several delays took place, pushing the end of the moratorium to June, as previously reported. Now, the biggest exchanges in China by trading volume, OKCoin, BTCC and Huobi have unfrozen cryptocurrency withdrawals, which were paused as

    Bitcoin Back Above $2400 as China’s ‘Big Three’ Exchanges Ease Controls

    | 2017/06/01 7:30 am
  • India could legalize Bitcoin in the near future as feedback from citizens and businesses appears to be in support of regulating virtual currencies. India’s Gov’t Asks Public About Virtual Currencies The online comments section, which is to run for 10 days, has already received nearly 4,000 submissions since it was launched on May 21st. The areas polled are: whether Virtual Currencies (VCs) should be banned, regulated or observed? In case VCs are suggested to be regulated, then what

    India Could ‘Legalize’ Bitcoin Next As Public Calls for Regulation

    | 2017/05/31 10:00 am
  • As the Bitcoin revolution continues to spread throughout the world, there are still some places where buying or using Bitcoin is illegal and can get you in trouble. Bitcoin Still Illegal in Some Countries As Bitcoin’s popularity continues to grow throughout the world, some governments are beginning to realize its benefits and potential and are integrating Bitcoin and cryptocurrencies in their economy, rather than trying to punish those that use it with restrictive policies and exaggerated

    Bitcoin is Still Illegal in These 6 Countries

    | 2017/05/18 9:30 am
  • The U.S. Securities and Exchange Commission has announced that it will review its decision regarding the Winklevoss twins’ Bitcoin ETF. SEC to Review Its Bitcoin ETF Decision The U.S. Securities and Exchange Commission (SEC) will review its decision regarding the rejection of the Bitcoin exchange-traded fund (ETF) proposed by Cameron and Tyler Winklevoss. A statement issued by the SEC in response to a petition for review of the Disapproval Order by the Bats BZX Exchange reads: […] it

    Take Two: SEC to Review Its Bitcoin ETF Decision

    | 2017/04/26 9:00 am
  • Bitcoin price now appears to be shrugging off politics that have split the community as it looks to test the critical $1,300 mark yet again. Key Resistance Level at $1,300 BTC price is again coming within striking distance of the critical $1,300 mark, currently sitting at $1,250 at press time.  Back on March 6, Bitcoin set the all-time closing high of $1,277 with a record-high spike of around $1,330 a few days later fueled by ETF hype before crashing

    7 Reasons Why BTC Price is Now Climbing to $1300

    | 2017/04/21 9:00 am
  • Bitcoin is gaining a lot traction in India. Bitcoinist spoke with Sunny Ray, co-founder of India’s Bitcoin exchange UnoCoin, to better understand what is fueling this growing trend in the country. Bitcoin Goes Mainstream in India Bitcoin is going places. After conquering China and catapulting it to the front line of Bitcoin’s trading and mining sector, it is now starting to get traction in other countries like Japan and South Korea. Now, Bitcoin is also showing signs of a

    Bitcoin is Booming in India as ‘Digital Gold’ Among Other Underlying Benefits

    | 2017/04/17 8:30 am
  • National cryptocurrencies will never be able to compete with Bitcoin because no one will trust a system that requires advance permission from and which is controlled by a government to use it.  [Note: This is an op-ed, edited by Allen Scott]  National Cryptocurrencies Will Never Be Global News is just in that the mint of a very important, historic sovereign nation has just hired a company in a separate nation to help it launch its own “Blockchain not

    Why National Cryptocurrencies Will Never Beat Bitcoin

    | 2017/04/14 2:00 pm
  • The Finance Minister of Russia has revealed state interest in tracking every cryptocurrency transaction ‘just like with bank operations.’ Furthermore, a Bitcoin regulation bill is expected later this year, which could go into effect as early as 2018. ‘The State Needs to Know’ Russian authorities are looking into the possibility of legalizing operations with bitcoin and other cryptocurrencies within the framework of curbing illegal money transfers, Russia’s Finance Minister, Alexey Moiseev told Bloomberg. He continued: The state

    Russia Set to Legalize Bitcoin by 2018, Track Every Transaction

    | 2017/04/11 4:00 am
  • The parent company of cryptocurrency exchange Bitfinex, iFinex, is suing Wells Fargo over disruption to wire transfers. Bitfinex: Court Move To ‘Prevent Precedence’ Court documents filed by the company, along with fellow conversion service Tether.to in San Francisco, relate to the global bank allegedly blocking outgoing wire transfers to the banks servicing them. “Wells Fargo has suspended U.S. dollar wire transfer operations needed to remit to plaintiffs’ customers U.S. dollars that the customers deposited with

    Bitcoin Bites Back: Wells Fargo in Court After Halting Exchange Transfers

    | 2017/04/08 7:30 am
  • Bitcoin payments may be accepted at over 260,000 stores in Japan by this summer following partnerships between the country’s Bitcoin exchanges and major retailers. Bic Camera to Trial Bitcoin Payments Japanese electronics chain Bic Camera has partnered with Tokyo-based bitFlyer, which runs the country’s largest bitcoin exchange that currently comprises about 10% of the Bitcoin market. This Friday, Bic Camera’s flagship shop in Tokyo’s Yurakucho district along with Bicqlo Bic Camera, a hybrid outlet with Uniqlo, will

    Japan: Bitcoin Payments Could See 260,000 Stores by Summer

    | 2017/04/05 5:00 am
  • According to IndieSquare Co-founder Koji Higashi, new regulations in Japan, which will make Bitcoin an official form of payment (starting today April 1), may do more harm than good for the fledgling industry in the country. Japan to Introduce Own ‘Bitlicense’ Following the disastrous demise of the infamous Japanese exchange, Mt. Gox and the arrest of its CEO Mark Karpelès, regulators in the country decided to introduce regulations for Bitcoin. The regulatory framework has been in the works for over

    Japan’s New Bitcoin Law Could Do More Damage Than NY BitLicense

    | 2017/04/01 9:00 am
  • India is the scene of conflicting reports over Bitcoin’s legality following suspicious statements from the government. Minister: Virtual Currencies Lack ‘Regulatory Approval’ On Tuesday, Minister of State for Finance Arjun Ram Meghwal said that use of virtual currencies “could subject the users to unintentional breaches of anti-money laundering and combating the financing of terrorism laws.” On the creation of virtual currencies, the bank spokesman added that “No regulatory approval, registration or authorization is stated to

    India: Zebpay Refutes Reports Minister Said Bitcoin is Illegal

    | 2017/03/29 2:30 pm
  • Chinese Bitcoin exchanges are gearing up to resume cryptocurrency withdrawals following the implementation of a video verification procedure. Know-Your Customer via Video Following the emails in which Chinese exchanges detailed the information required from clients in order to process their withdrawals, users are now receiving emails announcing video identity verification in accordance with the latest KYC/AML procedures imposed by the People’s Bank of China (PoBC). The email reads: In accordance to KYC / AML regulations and account monitoring procedures Huobi

    Chinese Bitcoin Exchanges Will Now Require Video Verification

    | 2017/03/28 9:00 am
  • A few Bitcoin ATMs have recently been spotted in a place not many expected: Russia. Bitcoinist spoke with the machines’ payment provider company to get the latest scoop on how the BTM business is taking root in the city of St. Petersburg. Fertile Ground? The first Bitcoin ATM is a one-way BTM from UK-based company Bitlish. It was quietly launched in late February and subtly placed next to a few Bank ATMs at a local business center on

    So What’s With The Bitcoin ATMs Popping Up in Russia?

    | 2017/03/27 2:00 pm
  • Increasing regulatory pressures have eviscerated trading volumes across Bitcoin exchanges in China. Bitcoin’s shifting volumes and price are signaling that further disintermediation is inevitable, which could also spell trouble for Western exchanges like Coinbase and Kraken. China Regulates Bitcoin Exchanges Increasing regulation of the Bitcoin market in China by the People’s Bank (PBoC) has characterized the first Quarter of 2017. First they banned margin-trading. Then they halted withdrawals of Bitcoin from Chinese exchanges in February. The latest news is that

    The China Syndrome: Are California’s Bitcoin Exchanges Doomed?

    | 2017/03/23 4:30 am
  • Withdrawals are expected to resume soon in China as Bitcoin exchanges are finalizing regulatory guidelines with the country’s central bank. Exchange Requests Proof of Customers’ Funds It seems like the moratorium on cryptocurrency withdrawals from Chinese Bitcoin exchanges imposed by the People’s Bank of China (PBoC) may be coming to an end. A new round of PBoC meetings are being held this week to discuss the regulation draft details with the heads of Chinese BTC exchanges, according to

    Chinese Bitcoin Exchanges Expected to Resume Withdrawals Soon

    | 2017/03/21 10:00 am
  • China is continuing its crackdown on Bitcoin exchanges through regulation that has been taking place for the last two months. Tighter regulations are coming to protect users and The State. Bitcoin Traders in China Get KYC’d According to the Wall Street Journal, Bitcoin exchanges would be treated like common legacy banks in the fact that they would have to collect information on their users, similar to KYC (Know Your Customer) regulations in banks around the

    Bitcoin Exchanges in China Must Now Identify All Users

    | 2017/03/17 9:00 am
  • Altcoin markets continue an unprecedented rise as downward pressure on Bitcoin is blamed on China and continued community indecisiveness. Community ‘Should Be Punished’ For Not Reaching Consensus As Bitcoin lost almost 8% in the 24 hours to press time, Ethereum passed $50 USD per coin, appearing to embark on an exponential run similar to that only just witnessed from Dash. Monero, currently the fourth largest cryptocurrency  in terms of market cap, also enjoyed rapid growth

    Bitcoin’s Total Crypto Market Cap Dominance Drops to All Time Low

    | 2017/03/17 6:00 am
  • Bitcoinist compiled a list of alternative platforms for p2p Bitcoin, altcoin and fiat trading that ensure safety, privacy, and freedom — something that’s often missing in centralized exchanges that typically hold the keys to your bitcoin. P2P TRADING & LOCALBITCOINS LocalBitcoins is a peer-to-peer exchange that offers trading services all around the world. While the platform itself is not decentralized, it allows users to exchange Bitcoin for national currencies directly between themselves. The exchange allows out-of-band payments for fiat

    Top 5 Alternatives to LocalBitcoins

    | 2017/03/15 5:00 pm