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Levitt, who is the SEC’s longest serving chairman, will work with payment processor BitPay and institutional exchange Vaurum to help “monitor business practices” and develop ways to market the new currency. via Former SEC chairman Levitt becomes advisor to bitcoin firms — Finextra
The most prominent Bitcoin exchange appeared to be on the verge of collapse late Monday, raising questions about the future of a volatile marketplace. Apparent Theft at Mt. Gox Shakes Bitcoin World – NYTimes.com.
Ben Lawsky, New York’s top financial watchdog, told a panel of high-profile tech investors on Tuesday that he’s moving full steam ahead with plans to regulate crypto currencies like bitcoin amid concerns that the cyber cash has become the money of choice for criminals. via NY clamping down on bitcoin — New York Post
This brings you to the center of the operation, a fluorescent-lit room with more than 100 whirring silver computers, each in a locked cabinet and each cooled by blasts of Arctic air shot up from vents in the floor. These computers are the laborers of the virtual mines where Bitcoins are unearthed. Instead of swinging […]
The largest bank in the US, JPMorgan, has filed a patent for an electronic currency with many similarities to bitcoin. At no point in the lengthy patent application is there any reference to bitcoin or any other existing crypto-currency, but there is a claim that the work would represent a “new paradigm for effectuating electronic […]
The advent of a new medium to conduct business inevitably means avenues for criminals to swoop in to take advantage. The development of Bitcoin, the virtual currency that is not issued by any government, presents challenges for the authorities to use laws that were not designed for the digital world to combat illegal conduct. DealBook […]
The call went out on Twitter: “For insane profits come and join the pump.” It was an invitation to a penny stock-style pump-and-dump scheme — only this one involved Bitcoin, the soaring, slightly scary virtual currency that has beckoned and bewildered people around the world. While such bid ’em up, sell ’em off scams are […]
The Department of Justice and Securities and Exchange Commission are telling a U.S. Senate committee that Bitcoins are legitimate financial instruments, boosting prospects for wider acceptance of the virtual currency. Representatives from the agencies told the U.S. Senate Committee on Homeland Security and Governmental Affairs ahead of a hearing today that the digital money offers […]
An online Bitcoin trading platform aimed at Chinese investors has suddenly closed, leaving hundreds with more than $3.3 million (RM10.4 million) in combined losses, a newspaper said today. Hong Kong-registered Global Bond Limited shut down in late October and disappeared before users could withdraw investments from their accounts, the China Business News said. via Bitcoin […]
In a ruling this week, a federal court found that the virtual currency “Bitcoin” meets the definition of a security and is therefore subject to regulation. The ruling means that the SEC’s lawsuit last week alleging a Bitcoin Ponzi scheme may proceed in court. via Court Finds ‘Bitcoin’ Meets Definition of a Security, is Subject […]