Bitcoin News

turkish president

Flurry of Interest in Cryptocurrency From Governments

With Venezuela’s announcement of the pre-sale of its petro cryptocurrency, this week has seen other governments around the world expressing interest in issuing their own national cryptocurrencies. Turkey’s former Industry Minister announced a plan to draft a proposal for a Turkish national cryptocurrency known as Turkcoin. That follows comments from Turkey’s Deputy Prime Minister that Turkey would seek to issue its own national cryptocurrency. Like most proposals that we hear about, details were largely non-existent, aside from a plan to [...]

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cryptocurrency regulation

Cryptocurrency Regulation Continues to Take Shape

With regulators around the globe continuing to look into cryptocurrencies, the regulatory regime affecting cryptocurrencies is beginning to take shape, although it’s still far from uniform. US States Move Forward on Cryptocurrency Regulation The Wyoming House of Representatives recently passed a bill that would exempt some ICO tokens from securities regulation. It’s unclear, however, whether the bill would have any effect in the event that the SEC decides to enact ICO regulations at the federal level. Arizona’s House of Representatives recently passed [...]

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Venezuela Launches “Petro”; Claims $735 Million in Sales

Venezuela’s long-awaited oil-backed cryptocurrency, the petro, has finally launched this week with its first pre-sale. According to President Nicolas Maduro, the first pre-sale netted $735 million in sales. What was interesting about Maduro’s claim is that he announced that the sale amounted to 4.777 billion yuan, or $735 million. No information about who purchased the petros was made public, but the fact that he announced sales figures in yuan would lead us to believe that a significant number of the [...]

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south korea

South Korean Government to Support Cryptocurrency; Bitcoin Price Rises

The South Korean government announced that it will support “normal transactions” in cryptocurrencies. Financial authorities will also encourage banks to work together with cryptocurrency exchanges. The announcement was seen as a positive sign that the South Korean government has decided to embrace Bitcoin and cryptocurrencies, and that a crackdown in South Korea is not in the cards. The push for cooperation among banks and cryptocurrency exchanges is a promising sign for cryptocurrency investors in South Korea because it should ease [...]

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bitcoin regulatory

Bitcoin Regulatory News Update

With US federal regulators taking an increasingly close look at Bitcoin and other cryptocurrencies, here’s a short roundup of some recent Bitcoin-related news from the regulatory arena. CFTC May Form Virtual Currency Subcommittee The Technical Advisory Committee of the Commodity Futures Trading Commission (CFTC) held a meeting last week to discuss issues related to blockchain and cryptocurrencies. The committee saw testimony from a number of interested parties with respect to cryptocurrencies and their regulatory treatment. At the conclusion of the meeting, the [...]

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coinbase complaints

Coinbase Customer Complaints on the Rise

Bitcoin exchange Coinbase has been the recent target of the ire of many of its customers. The meteoric rise in Bitcoin’s price, the huge increase in Coinbase’s user base, and the lack of support staff to handle that influx have all led to a series of snafus that have many Coinbase users furious. First and foremost among those problems is that of Coinbase customers being charged multiple times for transactions that have already occurred. In some cases that resulted in [...]

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bitcoin ira

Congress and Regulators Continue to Take On Cryptocurrencies

This week saw Congress and regulators taking another look at cryptocurrencies, both a sign of the increasing importance of cryptocurrencies and a worrying sign that Congress is setting its sights on cryptocurrency markets. No Congressional committee wants to be left out of the cryptocurrency action, so this week saw two new committees tackling the issues facing Bitcoin and cryptocurrencies. Wednesday saw the House Committee on Science, Space and Technology hold a joint subcommittee hearing looking into the prospective future uses [...]

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coinbase

Midweek Cryptocurrency News Roundup

This week has been another busy one in the cryptocurrency world. Here are some of the top news items making the rounds today. Deputy Treasury Secretary Calls for Global Cryptocurrency Regulation Acting Deputy Treasury Secretary Sigal Mandelker recently called for the international community to enact stronger global cryptocurrency regulations. Mandelker, who is Treasury’s Under Secretary for Terrorism and Financial Intelligence, made the remarks at an anti-money laundering (AML) conference sponsored by the Securities Industry and Financial Markets Association (SIFMA). Her remarks [...]

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tax on cryptocurrency

It’s Tax Time for Cryptocurrencies

There are only two things in life that are inevitable: death and taxes. And as with any new and growing market, governments are increasingly targeting cryptocurrencies to ensure that they are able to take their cut from the market’s growth. Those who thought they could get rich without the government getting its share of the profits will find out the hard way that they were sorely mistaken. The Icelandic government is mulling the idea of taxing cryptocurrency mining, as miners [...]

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Bitcoin prices going up

Bitcoin Prices Back on the Upswing

After a month of price decreases that had many Bitcoin investors wondering when prices were going to stop dropping, Bitcoin’s price seems to have bottomed out and is beginning to appreciate yet again. Intraday prices last week saw Bitcoin drop to below $6,000. At the time of writing, Bitcoin’s price had increased to nearly $8,700. Fears of regulatory crackdown have been one of the major drivers of Bitcoin’s price decline this year. The government crackdown that began in China last [...]

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