• In “The Godfather Part II,” Michael Corleone sits in the family home with his distant relative, Frankie Pentangeli, and recites the famous words his father once told him in secret: “Keep your friends close, and your enemies closer.” The line is simply a take on the old saying, “know thy enemy.” It’s a strategy that opposing armies have used for centuries, and it has been proven to work. Knowing your enemies means knowing their weaknesses. Knowing

    INTERPOL Takes On the Darknet

    | 2015/08/30 8:00 am
  • On August 25, 2015, Agora announced that it would go offline as the result of “suspicious activity,” which it believed to be attempts at breaking through their security protections. The online drug market uses the anonymous communication software, Tor, to protect its servers and customers from third-party, and more specifically, government snooping. Tor works through a decentralized network of volunteer computers that encrypts user’s data and IP’s with an extensive series of relays. Also read:

    Agora Shutdown Shows Need for More Decentralization

    | 2015/08/29 3:00 pm
  • The United States Department of Justice stated in a press release that Ali Shukri Amin, 17, of Manassas, Virginia, has been sentenced to 136 months in prison. Authorities arrested Amin in early 2015 for offering online advice on how to use Bitcoin to fund ISIS, as well as conspiring to provide material support and resources to the international terrorist organization. In addition to his 136-month prison sentence, Amin will have a lifetime supervised release, including monitored internet

    American Teen Sentenced to 11 Years for Helping ISIS with Bitcoin

    | 2015/08/29 3:43 am
  • The Chinese newspaper, China Times, has reported that on August 20, 2015, Taiwanese police arrested two suspects who allegedly scammed investors out of $1 billion NT, equivalent to $30.6 million USD. Lu Kuan-wei and Chen Yun-fei were arrested after the Criminal Investigation Bureau in Taipei received a number of complaints about fraud from victims.   Editor’s Note: To be clear, Mycoin was a ponzi scheme that fronted as a Bitcoin exchange. Additionally, it needs to be noted

    Alleged Scammers Behind Bitcoin Exchange Ponzi, MyCoin, Arrested in Taiwan

    | 2015/08/28 8:00 am
  • Most of the week was relatively quiet in terms of Bitcoin price, hovering around the $265 mark until the end of the week, when it began falling again. As we predicted last week, the Greco-Chinese hype seems to have worn off in the midst of Mark Karpeles’ arrest; the price stayed relatively stable, and the possibility that it would continue falling ended up coming to fruition. Also read: BitLicense Casualty: LocalBitcoins Exits New York  

    Bitcoinist Weekly News Re-Hash: Visa Tackles the Blockchain, Bitcoin XT, and More

    | 2015/08/17 8:00 am
  • Latin America held its first forum discussion on the financial and regulatory environment for virtual currencies in the continent. The organizers aptly named the forum, “Latin American Forum on Virtual Currencies,” and put an effort to bring Bitcoin advocates and Latin American governments together. With BitLicense hogging the headlines in the Bitcoin ecosystem, this recent development in the South America was unable to make to get much traction in the news. The forum was a one-day discussion

    Latin American Virtual Currency Forum: Finncial & Regulatory Environment

    | 2015/08/16 3:00 pm
  • Bitcoin regulation in the state of New York remains a topic of heavy debate, as the latest company to halt its services in the state is none other than LocalBitcoins. The largest Bitcoin peer-to-peer marketplace in the world is being hindered by the BitLicense regulations put in place earlier in 2015. Also read: Coinbase Asking for More Information Than Banks? BitLicense Claims LocalBitcions as Next Victim Whether people like or dislike the idea of regulating Bitcoin at

    BitLicense Casualty: LocalBitcoins Exits New York

    | 2015/08/14 3:00 pm
  • Chinese Bitcoin Exchange Huobi’s CEO Leon Li has posted basic information regarding bitcoin and recommendations on its regulation in a recent article titled: “A Study on the Current Developing Situation and Regulation of the Bitcoin Industry.” This article was written for the Tsinghua Financial Review, an influential journal in China. Tsinghua has not posted articles involving digital currency, and neither has any other influential journal in China. An interesting fact considering China’s huge involvement in

    CEO of Chinese Bitcoin Exchange Huobi Wants to Influence Policymakers On Bitcoin

    | 2015/08/11 10:25 pm
  • Update 8/10/2015 8:20 PM EST: Coinbase has responded to us regarding its reasoning for its information requirements, saying that, “We are required by law to request extra info for high volume customers. High volume. This is the EDD part of KYC.” Coinbase, as you might know, is what many consider to be the “Apple” of the Bitcoin ecosphere. With media coverage from The New York Times, The Wall Street Journal, and even TIME magazine listing

    Coinbase Asking for More Information Than Banks?

    | 2015/08/10 9:00 am
  • After ruling Bitcoin as an intangible asset just a year ago, the Australian Senate Economics References Committee now feels that Bitcoin should be treated as a regular currency for Goods and Services Tax purposes. This is due to many emerging enterprises leaving Australia for other countries with more progressive cryptocurrency regimes. Also read: Teaching Encryption Soon Illegal in Australia Bitcoin as an Intangible Asset For a long time, Bitcoin had been exempt from taxation in

    Australia Ready to Treat Bitcoin as a Regular Currency

    | 2015/08/07 7:00 pm
  • The Law of Bitcoin is designed to be a reference book for any user looking for legal advice regarding implementing Bitcoin into their own company. With a lacking amount of solid legal information in this department, the book is a necessary for anyone looking to remain 100% complaint while transacting with Bitcoin. Also read: Mark Karpeles Admits to Tweaking Mt. Gox User Balances for Millions of Dollars   Can you tell me a little bit

    Exclusive Interview with ‘The Law of Bitcoin’ Team

    | 2015/08/05 8:00 am
  • Trees, a California-based medical marijuana distributor, recently has proposed the idea of delivering marijuana kits by air. An idea that certainly is novel and could end up being one that innovates the industry as it becomes more commercialized. Also read: American Green Builds World’s First Marijuana Vending Machine Accepts Bitcoin The company currently only serves the San Francisco Bay area and accepts Bitcoin as well as more traditional forms of payment through online bank transfers,

    Bitcoin-Purchased Marijuana May Soon be Available via Drone

    | 2015/08/04 12:00 pm
  • The Chamber of Digital Commerce (CDC) celebrated its 1 year anniversary on July 19, 2015. Just in its first year, the Chamber has already played an enormous role in Bitcoin education and FinTech regulation. Its efforts to help shape the New York BitLicense framework are one of its greatest contributions this year. Also Read: Chamber of Digital Commerce and DCC Partner to Promote Digital Currencies The Digital Chamber is truly on the forefront of the Bitcoin industry.

    Perianne Boring Speaks On FinTech Regulation and CDC Goals

    | 2015/08/04 8:00 am
  • Though the United Kingdom plays a definitive role in the growth of FinTech industry, which is now worth £20 billion in annual revenues to the UK, employs 135,000 people, and attracted 42% of all European FinTech investment in 2014, Prime Minister David Cameron is not satisfied. Thus, Cameron, has welcomed FinTech 2020, which aims to make the UK the premier location for at least 25 global FinTech leaders, whether by IPO, global market share or

    FinTech 2020 Aims to Make UK a Hub for Financial Innovation

    | 2015/08/02 8:00 am
  • ZapChain, a website where one can engage in online discussions regarding a variety of topics, will entertain an online summit to discuss the benefits that are brought to us by the use of Bitcoin. Bitcoin’s history is stained due to its use in criminal activities and the darknet, yet, it does not the change the potential for both present and future. A person unfamiliar to bitcoin may have heard of it through a news channel

    Revealing Bitcoin’s Legality: The ZapChain Summit

    | 2015/07/31 3:00 pm
  • On July 29, in an exclusive interview with The New York Observer, Republican presidential candidate Rick Perry offered some insight on his views of Bitcoin for the first time. In the interview, Perry was quoted saying he supports “regulatory breathing-room” for the cryptocurrency. Also read: Rand Paul Vouches for Bitcoin at NY Fundraiser Event In a seemingly populist effort to widen his appeal, the former governor of Texas also paid some lip service to the so-called

    Presidential Hopeful Rick Perry Indicates Support for Bitcoin

    | 2015/07/30 7:00 pm
  • Ever since Benjamin Lawsky, former superintendent of the New York Department of Financial Services (NYDFS), and the man behind the BitLicense, departed from his job and founded a virtual currency compliance consultancy firm, he has faced accusations of creating a conflict of interest. Also read: ShapeShift.io Refutes BitLicense, Halts Services in New York Area Soon after departing from the NYDFS, Benjamin registered the Lawsky Group in Delaware on June 17, 2015, his firm located at

    Ben Lawsky Rejects Conflict of Interest Accusations 

    | 2015/07/30 8:00 am
  • The Digital Currency Council (DCC) supports the development of best-in-class professional practices in the digital currency economy through training, certification, as well as connectivity with peers and prospective clients, has entered into a partnership with the Chamber of Digital Commerce (“Chamber”) to strengthen the advocacy and education efforts for the digital asset and digital currency industry. Also Read: Chamber of Digital Commerce Launches New Site, Announces Advisory Board The DCC, which has members from leading professionals

    Chamber of Digital Commerce and DCC Partner to Promote Digital Currencies

    | 2015/07/16 9:00 am
  • While Bitcoin excels in many ways due to its uniqueness; we’ve never seen anything like it before. This is usually a good thing, but when it comes to documentation or anything in the legal industry it becomes a disaster. We are left with individual interpretations as there are no precedents to base new legal rulings on. As we speak, governments are still ironing out the details in how they will deal with the disruptive financial

    The Law Of Bitcoin released; Legal Guidance For Bitcoin!

    | 2015/07/15 8:00 am
  • In Europe, online gambling has recently caught the attention of regulators in several countries. This sudden interest has been sparked by a desire among regulators to do more to curb problems normally associated with gambling. Some solutions that have been offered include greater transparency, licensing measures, prohibitions that make it harder for minors to engage in online gambling, and stricter rules on marketing and advertising. The concerted efforts to make online gambling safer, which is being touted

    UK to Address Illegal Bitcoin Gambling Activities

    | 2015/07/10 9:00 pm
  • In the past year and a half, a lot of focus has been put onto privacy and how governments have been spying on both citizens of their own country, as well as other officials in foreign countries. A draft bill has surfaced in The Netherlands, which would regulate bulk surveillance from an online perspective. Also read: MIT’s Enigma: Decentralized Cloud Platform with Guaranteed Privacy The End of Privacy As We Know It? Our society has

    Dutch Government Officials To Change Privacy Laws With Bulk Online Surveillance

    | 2015/07/05 11:33 am
  • Online casino-style gaming in the United States could be changing very soon. That is, if two Republican senators running for president have a say in the matter. A legislation has been proposed, which, if approved, would revert the decision made by the Barack Obama administration of legalizing online, casino-style gaming. Also read: Bitcoin is Simplifying Gambling Legalization of Online Casino Gambling Since 2011 The United States have always had a bit of a history when

    Republican Senators Want to Outlaw Online Gambling in the US

    | 2015/06/26 2:43 pm
  • IdentityMind is a company that provides risk management and regulatory compliance solutions to firms in the finance industry, such as banks, money service businesses, and digital currency exchanges. Today, the company is announcing its appointment of Robert Selander to its board of advisors. Selander has had an extensive career in the finance industry, with over 20 years of experience at CitiCorp and CitiBank, as well as serving as President and CEO of MasterCard.  Also Read:

    IdentityMind Appoints Ex MasterCard CEO to Board of Advisors

    | 2015/06/25 2:00 pm