Bitcoin market is the “wild west”, says US regulator August 14, 2014 A US government agency has warned consumers that they may be stepping into the "Wild West" when entering the cryptocurrency market. The Consumer Financial Protection Bureau released a report this week saying cryptocurrencies have potential benefits, but the public needed to be wary when entering the world of digital currencies. The agency highlighted the principle [...]
Britcoin vs Scotcoin: The UK cryptocurrency battle August 7, 2014 In the aftermath of George Osborne's announcement that the Treasury will investigate what role digital currencies can play in the UK financial system and the heated debate between Alex Salmond and Allister Darling on Scottish independence, could there be a better time to examine the fortunes of two competing UK cryptocurrencies? In the red corner, [...]
George Osborne makes a quick buck on £20 Bitcoin buy at Level 39 August 6, 2014 As the Chancellor of the Exchequer, you might expect George Osborne would like to keep his own pocket money in good old, Bank of England-regulated, sterling. But it’s apparent a trip to trendy FinTech den Level 39 has left Osborne with a sense of adventure – he’s gone where no chancellor has gone before – [...]
As the chancellor embraces Bitcoin, could it soon be integral to commerce in the UK? August 6, 2014 Charlotte Bowyer, digital policy researcher at the Adam Smith Institute, says Yes. Given the right conditions, digital currencies could revolutionise payments processing and become an integral part of UK commerce. Paying online with Bitcoin could become a serious alternative to using Visa or PayPal – if they don’t adopt the technology themselves. The low fees [...]
Osborne announces plans to explore the future of Bitcoin August 6, 2014 George Osborne has announced plans to explore how cryptocurrencies such as Bitcoin can play a role in the UK financial system. The chancellor has commissioned the Treasury to produce a report on digital currencies, examining their potential benefits and risks, which is set to be published in the Autumn. Osborne said he aims to make the UK [...]
Apple welcomes back Bitcoin wallet Blockchain to App Store July 29, 2014 Apple's App Store has welcomed back Bitcoin wallet Blockchain following its removal in February. Already available on Android devices, Blockchain launched its new iOS wallet yesterday, which has been “completely rewritten from the ground up with an emphasis on security and usability,” the company said in a press release. Before Apple's unexplained removal of all [...]
Bitcoin banned in Ecuador until new state-run currency is established July 25, 2014 Ecuador's socialist dominated National Assembly has for all intents and purposes banned digital currencies while the country prepares to establish a new currency, reports Coindesk. However, the government will still be allowed to make payments using "electronic money." 91 members voted in favour of the reforms. Furthermore, Ecuador will be introducing a national digital currency, which [...]
Hailo taxi app actively looking into accepting Bitcoin says CEO July 23, 2014 London-based taxi app Hailo could allow customers to pay for their rides using cryptocurrency Bitcoin, according to the company's CEO Jay Bregman. Speaking to digital currency news site Coindesk, Bregman said Hailo could also allow Bitcoin to be sent directly to drivers. Hailo, founded in London in 2011, gives customers the ability to hail cabs through its own app. "We [...]
Bitcoin exchange lands $1.6m as ex-Goldman Sachs trader seeks to replace MtGox July 23, 2014 Following the disastrous collapse of the MtGox Bitcoin exchange, Japan is set to see a revival of the Bitcoin ecosystem. This comes after former Goldman Sachs employee, Yuzo Kano, raised $1.6m for the Japan-based bitFlyer exchange, according to Bloomberg Businessweek. The money was raised from a venture capital firm and is the country's largest Bitcoin [...]
Bitcoin under fire from European Banking Authority July 4, 2014 The European Banking Authority (EBA) has launched a scathing attack on cryptocurrency Bitcoin, warning that the potential benefits of digital currencies will be outweighed by a host of risks, reports the FT's Sam Fleming. In an address to lawmakers, the EBA argued that the problems associated with Bitcoin could only be addressed by a regulatory [...]