A new Bitcoin frenzy has been unleashed with the Senate virtual currency hearing acting as a trigger Another round of the epic November rise in Bitcoin prices is happening as we speak. Bitcoins are trading in a range between $700 on Bitstamp and $800 on the Mt Gox exchange. A top level of $900 was…
Read moreGermany's Ministry of Finance considers Bitcoins a 'unit of account' -- meaning BaFin licensing required, Bitcoin transactions subject to VAT... Monday was a seminal day in the life of Bitcoin, with the release of a formal statement by Germany's Ministry of Finance. The statement indicated that Germany formally designated Bitcoin as a 'Rechnungseinheiten als Finanzinstrument', or…
Read moreBitcoin exchange Mt Gox said it will likely be several weeks before US dollar withdrawals are back to normal. Leading Bitcoin exchange Mt Gox put out a detailed statement today, stating why the bank has temporarily suspended US dollar withdrawals from customer accounts. The full text of Mt Gox's statement follows, but essentially it boils…
Read moreFollowing a wild April, Bitcoin prices have retreated into a more moderate trading range in April and May. An interesting story which we and much of the FX brokerage world has been watching lately.... Bitcoin prices have stopped (at least for now) their wild roller coaster ride of up 100% one day and down 60%…
Read moreBitcoin prices and volumes on Mt Gox showed very strange patterns at a normally slow time. Another reason why FX brokers are still generally reluctant to add Bitcoin trading... Coinsetter Blog pointed out a very interesting phenomenon, whereby it questioned whether Bitcoin prices were being manipulated this past Sunday, June 2. After several weeks of relative stability…
Read morePayment processor Liberty Mutual owner Arthur Budovsky arrested in Spain in a money laundering investigation. Things keep getting murkier in Bitcoin land. After the US government froze a mobile payments account associated with leading Bitcoin exchange Mt. Gox, and the CFTC indicated it is looking at regulating Bitcoin trading, now comes word that payment processor Liberty Mutual has been shut down,…
Read moreFounders Fund, run by PayPal co-founder Peter Thiel, leads venture financing round for Bitcoin PSP company BitPay. Payment Service Provider (PSP) company BitPay, which bills itself as "the world leader in Bitcoin business solutions", has announced that it has raised a further $2 million financing round led by venture capital investor Founders Fund. It sounds…
Read moreAs Bitcoin trading gains traction and more firms in the US want to offer products, regulatory bodies enter the mix. Courtesy of our friends at CFTCLaw.com..... The CFTC is now considering whether or not Bitcoin falls under its regulatory scope. Bart Chilton, Commissioner of the CFTC, was quoted in the Financial Times that Bitcoin “is for sure…
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