In recent interview with trade publication CentralBanking.com, Monetary Authority of Singapore (MAS) Managing Director Ravi Menon addressed an issue that is rapidly becoming a very hot topic in the regulation world: Digital currency. As Singapore’s central bank, the MAS has a great deal of power over how any financial instrument is used in the country,…
In May, Dish Network made headlines across the tech media for becoming the largest company to date to adopt bitcoin payments. The announcement did come with a caveat: Although the company’s partnership with Coinbase was formalized, actual payment integration wasn’t expected for several months as DISH worked out the kinks in the new system. After…
TechCrunch reports today that Atlanta-based bitcoin payment processor BitPay is finally putting some of their $30 million venture capital cash to work. The company has hired three new heavy hitters to fill out its ranks, suggesting that a major expansion is in the works. The new hires are notable for their significant payments industry experience….
While most of the Western bitcoin trading world was asleep this morning, the bitcoin market was inexplicably crashing. Around 3 a.m. EST, a series of largely automated events on BitFinex caused the price to collapse from the $525 range to a staggering $451. While the drop lasted for a matter of seconds, the price has…
As the public comment period for the proposed New York Department of Financial Services (NYDFS) “BitLicense” draws to a close, the bitcoin community is segregating into two broad camps. On one side are the privacy-minded, regulation-resistant types who are generally skeptical of the need for government oversight of an exchange system that was specifically designed…
According to a report published today by Reuters, Overstock CEO Patrick Byrne estimates that bitcoin sales will account for 4 cents in profit per share of the company in 2014. Byrne told the news outlet that current EPS projections for the company are 75-80 cents per share, making bitcoin’s contribution far from insignificant. The company…
Few recent developments in the bitcoin world have been as controversial as the proposed New York Department of Financial Services (NYDFS) “BitLicense” plan. The regulation would seek to place standard bank-like controls on bitcoin-related businesses in New York, including a range of know-your-customer rules and anti-money laundering controls. With increased anonymity and a lack of…
Argentina-based bitcoin payment system BitPagos announced this week that it will soon be launching a new service to bring in-store bitcoin buying to over 8,000 convenience stores in the country. The service, dubbed Ripio, will use an existing in-store network created by prepaid cell phone provider TeleRecargas. Although the new network is expected to come…
Online merchant service and payment processor Payza announced yesterday that will be bringing a new “withdraw funds by bitcoin” option to users in 190 countries. The system effectively makes Payza into a bitcoin brokerage, much like Coinbase, allowing users to instantly buy bitcoin. Although the price is locked at time of payment, purchases are subject…
The International Business Times reports that JP Morgan’s long-rumored bitcoin clone, informally dubbed “web cash,” has once again been denied a U.S. patent. The system, described as a “method and system for processing internet payments using the electronic funds transfer network,” was originally submitted for patent consideration in August of last year. Unconfirmed reports by…