finextra.com Archives - 24 October 2014, Friday

  • Finextra: Bangladesh threatens jail time for bitcoin users

    finextra.com 16 Sep '14, 10am

    In a statement, the bank warns that the cryptocurrency is "not a legal tender of any country" and that using it is a "punishable offence" under recently introduced anti-money laundering laws. "Transactions through bitcoin or any other cryptocurrency like it is not recognised by the Ba...

  • Santander commissions study on bitcoin's impact on banks #fintech

    Finextra: Santander commissions study on bitcoin's impact on banks

    finextra.com 26 Aug '14, 10am

    Santander has given a $5000 budget to Yegii - a self-described "insight network" set up by Trond Undheim, a senior lecturer at MIT Sloan School of Management - to write the report. In turn, Yegii is asking people to put themselves forward as members of its "dream team" comprised of a ...

  • Finextra: French to boost bitcoin transparency; Finns to broadcast bitcoin data through TV network

    finextra.com 14 Jul '14, 9am

    The new regulation, set out by the country's finance ministry in response to a report by its Tracfin money laundering unit, will come into effect at the end of the year. The ministry has also changed its tax rules, following in the footsteps of the UK and US by making profits on bitco...

  • Finextra: European banks told to avoid bitcoin

    finextra.com 04 Jul '14, 12pm

    European banks told to avoid bitcoin 2 hours ago | 1286 views | 0 Europe's financial institutions should steer clear of virtual currencies such as bitcoin until a regulatory regime is in place, the European Banking Authority (EBA) has warned. In an opinion document for the EU Council,...

  • Finextra: Intuit to process bitcoin payments with QuickBooks Online

    finextra.com 26 Jun '14, 11pm

    Intuit's new PayByCoin service is made possible via an integration between QuickBooks Online and bitcoin wallet outfit Coinbase. To use the service, small business operators must register with Coinbase and link their wallets to their existing QuickBooks Online account. When a customer...

  • Finextra: Canada brings in bitcoin regulations

    finextra.com 24 Jun '14, 9am

    The new law means that firms dealing in virtual currencies will be classified as 'money services businesses' and therefore subject to record keeping, verification procedures, suspicious transaction reporting and registration requirements. Bitcoin dealers will be required to register w...

  • Finextra: Wells Fargo and JPMorgan take contrasting stance on bitcoin

    finextra.com 24 Jan '14, 12pm

    Wells Fargo and JPMorgan take contrasting stance on bitcoin 22 hours ago | 1997 views | 1 Wells Fargo and JPMorgan have highlighted the contrasting views in US banking circles over the future viability of bitcoin, with the former willing to engage and the latter airily dismissing the ...

  • Chinese can now buy real estate with Bitcoin

    Chinese can now buy real estate with Bitcoin

    finextra.com 08 Nov '13, 6am

    Bitcoin acceptance in China has now extended into real estate with a residential developer in Zhangjiang Hi-Tech park in Shanghai finding a new way to promote sales through the acceptance of Bitcoin virtual currency. Shanda Group, one of the large IT giants in China, through its real ...

  • Finextra: Start-up raises $9m to take bitcoin mainstream

    finextra.com 01 Nov '13, 12am

    Start-up raises $9m to take bitcoin mainstream 22 hours ago | 1743 views | 0 US start-up Circle has secured $9 million in funding as it bids to bring digital currencies such as bitcoin to mainstream businesses and consumers. Despite the hype it has garnered in recent months, bitcoin i...

  • Finextra: Dwolla kills support for bitcoin

    finextra.com 11 Oct '13, 12pm

    In a vague e-mail to bitcoin exchange BitBox and other merchant customers, Dwoll hints at regulatory concerns, saying that "recent interest" in virtual currency has created "uncertainty and confusion", including about the firm's "relationship with a small number of its exchanges". The...

  • Finextra: Dwolla kills support for bitcoin

    finextra.com 11 Oct '13, 10am

    In a vague e-mail to bitcoin exchange BitBox and other merchant customers, Dwoll hints at regulatory concerns, saying that "recent interest" in virtual currency has created "uncertainty and confusion", including about the firm's "relationship with a small number of its exchanges". The...

  • Finextra: Bitcoin firms meet UK govt officials as regulation looms

    finextra.com 06 Sep '13, 11am

    Bitcoin firms meet UK govt officials as regulation looms 7 hours ago | 1042 views | 0 Representatives from the bitcoin community met UK government officials in Downing Street this week amid claims that the Financial Conduct Authority is considering regulating the virtual currency. Rep...

  • Finextra: Tradehill suspends bitcoin trading in face of regulatory heat

    finextra.com 30 Aug '13, 12pm

    Tradehill suspends bitcoin trading in face of regulatory heat 23 hours ago | 1304 views | 0 Bitcoin exchange Tradehill has temporarily shut down trading, citing "banking and regulatory" issues related to its credit union partner. In a statement on its Web site, the firm says the "deci...

  • #Bitcoin is real - get over it... via @Finextra my latest post

    Bitcoin is real - get over it...

    finextra.com 08 Aug '13, 6pm

    Regulators are primarily concerned about Money Laundering and anonymity when it comes to BitCoin. While no regulator really imagines that Bitcoin will ever replace a currency like the USD or EUR, there is a perception that leaving Bitcoin unregulated will allow the free flow of illega...

  • US judge rules bitcoin is real money

    finextra.com 08 Aug '13, 9am

    Last month the Securities and Exchange Commission charged Trendon Shavers with running a bitcoin Ponzi scheme through his Bitcoin Savings and Trust (BTCST), which raked in 700,000 bitcoins, worth $4.5 million, from unwary investors. Shavers argued that the case should be ditched becau...

  • Bitcoin exchange Bitstamp chooses GBGroup for identity verification

    finextra.com 29 Jul '13, 1pm

    The technology will enable Bitstamp to verify hundreds of new customers per day and will be used to help improve the security of the Bitcoin marketplace. By deploying GBGroup's technology, Bitstamp is helping to set the market standard for Bitcoin exchanges in a marketplace still find...

  • Kipochi integrates bitcoin wallet with M-Pesa

    finextra.com 08 Jul '13, 9am

    Kipochi integrates bitcoin wallet with M-Pesa 2 hours ago | 554 views | 0 Kenyan bitcoin wallet Kipochi has launched a service which enables people to send and receive the virtual currency and convert it to and from an M-Pesa balance. Kipochi - wallet in Swahili - lets users receive a...

  • Make mine a pint of Bitcoin: UK pub chain takes virtual currency via @Finextra

    Finextra: Make mine a pint of Bitcoin: UK pub chain takes virtual currency

    finextra.com 12 Jun '13, 10am

    Make mine a pint of Bitcoin: UK pub chain takes virtual currency 5 hours ago | 1019 views | 1 A pub chain run by a former Cambridge University scientist has started accepting bitcoins in exchange for pints of beer. Stephen Early, a director and co-founder of Individual Pubs Limited, i...

  • Finextra: BitPay processes over $2 million in Bitcoin transactions for March

    finextra.com 25 Mar '13, 3pm

    BitPay processes over $2 million in Bitcoin transactions for March 1 hour ago | 513 views | 0 Source: BitPay BitPay Inc, the world's leading payment processor for bitcoin, announces that it has processed over $2 million during the first 25 days in March. The pace of transactions is ac...

  • Finextra: Bitcoin Tipper lets users tweet virtual currency

    finextra.com 15 Mar '13, 4pm

    Bitcoin Tipper lets users tweet virtual currency 1 hour ago | 470 views | 0 Bitcoin Tipper, a service, that lets users send the virtual currency to friends through Twitter, has launched. To sign up, users follow and tweet the @bitcointipper account. The service will then create an acc...

  • Finextra: Technical glitch sparks bitcoin sell-off

    finextra.com 12 Mar '13, 10am

    Technical glitch sparks bitcoin sell-off 20 hours ago | 1334 views | 0 Having seen its value soar in recent weeks, digital currency bitcoin plummeted today after a technical glitch sparked a sell off and exchange MT. Gox suspended deposits. According to an MT. Gox statement, a new bit...

  • Finextra: BitInstant becomes latest bitcoin theft victim

    finextra.com 06 Mar '13, 11am

    BitInstant becomes latest bitcoin theft victim 15 hours ago | 1802 views | 0 Using simple social engineering techniques, an attacker has managed to steal around $12,500 in bitcoins from virtual currency exchange BitInstant. BitInstant went offline over the weekend before reappearing o...

  • Finextra: PayPal suspends personal payments in Singapore

    finextra.com 19 Feb '13, 10am

    PayPal suspends personal payments in Singapore 15 hours ago | 1906 views | 0 PayPal has been forced to suspend personal payments in Singapore by regulators, according to TechCrunch. Citing an e-mail sent out to members, TechCrunch says that the transfer of money between personal accou...

  • Finextra: Bitcoin-Central secures PSP license

    finextra.com 07 Dec '12, 1pm

    Bitcoin-Central secures PSP license 6 hours ago | 1283 views | 0 A European Bitcoin exchange says that it has secured a license to operate as a payments service provider (PSP), bringing the crypto-currency into the formal economy. In a post on the Bitcoin Forum , Bitcoin-Central says ...

  • Standard Chartered Singapore embeds security tokens in cards

    Finextra: Standard Chartered Singapore embeds security tokens in cards

    finextra.com 06 Nov '12, 10am

    Earlier this year the Association of Banks in Singapore (ABS) outlined plans to start issuing online tokens with enhanced features such as "transaction signing" as part of an industry-wide security push. Standard Chartered says that it is first out the blocks, giving online and mobile...

  • Finextra: Bitcoin merchants plan own Black Friday

    finextra.com 05 Nov '12, 9am

    Bitcoin merchants plan own Black Friday 2 hours ago | 630 views | 1 More than 50 Bitcoin merchants are banding together for their own version of Black Friday in a bid to stimulate the virtual currency economy. Black Friday has become an annual event in the US, taking place the day aft...

  • Finextra: US govt's pre-paid declaration plans questioned

    finextra.com 30 Oct '12, 12pm

    US govt's pre-paid declaration plans questioned 19 hours ago | 1380 views | 1 The feasibility of US government plans that would require travellers to add pre-paid card balances to declaration reports when they cross borders have been called into question. Last October the Treasury's F...

  • Finextra: Hacked Bitcoin exchange Bitfloor reopens

    finextra.com 28 Sep '12, 9am

    In a Google+ post , founder Roman Shtylman has confirmed that the exchange is now back up and running after nearly a month out of action and sought to reassure users that security has been improved and that he plans to refund those left out of pocket. Thieves managed to steal around 2...

  • Finextra: Hacked Bitcoin exchange Bitfloor reopens

    finextra.com 28 Sep '12, 9am

    In a Google+ post , founder Roman Shtylman has confirmed that the exchange is now back up and running after nearly a month out of action and sought to reassure users that security has been improved and that he plans to refund those left out of pocket. Thieves managed to steal around 2...