Now that we’ve just about finished arguing whether Bitcoin is a legitimate payment form or not, we’re faced with a whole new set of questions regarding the crypto-currency. One of the most prevalent, confusing, and contested topics is how Bitcoin can and will be taxed. In short, is Bitcoin a currency or a capital asset?…
Nearly 30,000 bitcoins seized in October of last year have been signed off on a forfeiture order, federal prosecutors from the Manhattan U.S. Attorney’s office announced on Thursday. Currently valued around $25 million, the bitcoins were seized from Ross Ulbricht, who allegedly founded and operated hidden website Silk Road under the pseudonym Dread Pirate Roberts….
Even as Bitcoin is facing regulation challenges overseas, online retailers and service providers both here and abroad have continued to initiate Bitcoin payment options in order to make their businesses more inclusive and their transactions more immediate. Street vendors in London, bars in Berlin, flower shops in Santa Monica, real estate brokers in New York,…
Though Bitcoin has had no shortage of speculation (both positive and negative) in 2013, the sheer volume of press it has received speaks to the resilience of the virtual currency. With the start of the new year, now seems the perfect time to see where the highly debated tender has been – and where it’s…
A number of Bitcoin exchanges in India, including the country’s largest trading platform, BuySellBitco, have suspended operations this week. The halt comes in response to a statement issued by the Reserve Bank of India (RBI) on Christmas Eve, warning consumers about the potential dangers associated with decentralized digital currencies. Ajit Prasad, the RBI’s Assistant General…
The price of Bitcoin is still recovering this week after BTC China, the country’s largest Bitcoin exchange, stopped accepting deposits in Chinese yuan. The drop in the currency piggybacked on the downward trend seen after the People’s Bank of China issued a partial ban on the virtual currency on December 5, prohibiting financial institutions from…
After last week’s decision from China’s central bank prohibited the country’s financial institutions from dealing in the currency, it would appear that Bitcoin took another hit this week with Norway announcing that the virtual currency doesn’t qualify as real money. After assessing the “right and sound way to handle this,” Hans Christian Holte, director general…
In Europe’s most talked-about gathering of today’s brightest technological innovators and visionaries, last Tuesday’s ‘Le Web’ conference in Paris saw Bitcoin advocates responding to the risks and obstacles that have recently made news alongside the digital currency. Fred Wilson, a prominent tech investor and co-founder of Union Square Ventures, deemed the Bitcoin trend as one…
In the largest financing to date for a company focused on the Bitcoin digital currency, Coinbase has raised $25 million in a Series B funding round. Venture capitalist firm Andreessen Horowitz took the lead, backing Coinbase with a $20 million investment. Other investors, Union Square Ventures and Ribbit Capital, added another $5 million, bringing the…
Bitcoin is a relatively new phenomenon gaining supporters on a daily basis, so there are a lot of you out there who are probably too new to remember last year’s $31 bubble from direct experience, but it seems like everyone has at least heard of it. Bitcoin has seen extremely high volatility and that makes…