SAN FRANCISCO (AP) — The Wall Street Journal reports that Facebook plans a cryptocurrency-based payment system that it could launch for billions of users worldwide.
TOKYO (AP) — Mark Karpeles, who headed Mt. Gox, a Tokyo-based bitcoin exchange that went bankrupt after a massive hacking, was found guilty Friday of manipulating electronic data but cleared of...
Lawyer: Russian cybercrime suspect on hunger strike
ATHENS, Greece (AP) — The lawyers for a Russian suspected of bitcoin fraud and wanted by three countries said Thursday that the man's health is deteriorating due to a hunger strike, and criticized...
Treasurer: Option to pay taxes in bitcoin attracting few
COLUMBUS, Ohio (AP) — Ohio's state treasurer says only two tax payments have been made using bitcoin through the recently-launched option to pay taxes using the cryptocurrency.
Company donates $2M to Kansas for cryptocurrency technology
LAWRENCE, Kan. (AP) — A Silicon Valley company has donated $2 million to the University of Kansas to support research related to cryptocurrency and digital payments, such as Bitcoin.
The university says in a news release that the donation from Ripple will provide $400,000 each year for five years. It will go to the Information and Telecommunication Technology Center at the Kansas School of Engineering.
State to allow businesses to pay taxes with bitcoin
COLUMBUS, Ohio (AP) — Ohio is now accepting the cryptocurrency, bitcoin, for business tax payments including sales tax.
State Treasurer Josh Mandel's office announced Monday that businesses can sign up for the program through OhioCrypto.com .
Businesses will pay their taxes through a third-party processor called BitPay, which will convert the digital currency into dollars that go into the state's accounts.
California watchdog agency bans bitcoin political donations
SACRAMENTO, Calif. (AP) — California's campaign watchdog arm says political donations can't be made with cryptocurrency such as bitcoin.
The Fair Political Practices Commission voted 3-1 Thursday to ban such donations.
The origin of cryptocurrency may be hard to track and raise questions about transparency.
Japan digital currency exchange hacked, losing $60 million
TOKYO (AP) — Hackers have stolen 6.7 billion yen ($60 million) worth of cryptocurrencies from a Japanese digital currency exchange, the operators said Thursday.
Tech Bureau Corp. said a server for its Zaif exchange was hacked for two hours last week, and some digital currencies got unlawfully relayed from what's called a "hot wallet," or where virtual coins are stored at such exchanges.
UK lawmakers: ‘Wild West’ cryptocurrencies need regulation
LONDON (AP) — British lawmakers have backed calls for greater regulation of cryptocurrencies such as bitcoin in order to bring an element of control to a market that more resembles the "Wild West."
Washington utility increases power rates for bitcoin mining
EPHRATA, Wash. (AP) — A utility in central Washington has increased electricity rates for cryptocurrency miners.
The Capital Press reports that Grant County Public Utility District commissioners adopted a new rate for so-called mining operations. Those firms use stacks of computer servers and a lot of electricity to produce Bitcoin or other cryptocurrencies that exist electronically.
Bitcoin scammers target wealthy, threaten to expose ‘secret’
CHEVY CHASE, Md. (AP) — Men in a wealthy Washington suburb have been receiving letters threatening to expose their dark secrets to their wives.
The problem, The Washington Post reports , is some of these men don't even have wives.
Student charged in elaborate digital money theft scheme
LOS ANGELES (AP) — A Massachusetts college student who was named his high school's valedictorian for his savvy tech skills hacked into unsuspecting investors' personal cellphones, email and social media accounts to steal at least $2 million in digital currency like Bitcoin, according to documents provided by California prosecutors Wednesday.
RALEIGH, N.C. (AP) — Candidates for political office in North Carolina will not be allowed to accept campaign donation in Bitcoin or other cryptocurrencies.
In a July letter, State Board of Elections Executive Director Kim Westbrook Strach told Emmanuel Wilder that cryptocurrencies cannot be valued reliably, and state campaign finance laws are written with monetary limits defined in U.S. dollars.
LOS ANGELES (AP) — A Southern California woman dubbed the "Bitcoin Maven" for illegally laundering the digital currency has been sentenced to a year and a day in federal prison.
Theresa Tetley was sentenced Monday in Los Angeles.
Prosecutors say the former stockbroker laundered millions of dollars' worth of bitcoins through an unlicensed bitcoin-for-cash service. Authorities say she had customers around the country — including one client who's suspected of selling drugs on the dark web.
LONDON (AP) — Is the web browser on your phone slower than usual? It could be mining bitcoin for criminals.
As the popularity of virtual currencies has grown, hackers are focusing on a new type of heist: putting malicious software on peoples' handsets, TVs and smart fridges that makes them mine for digital money.
THESSALONIKI, Greece (AP) — France has joined the United States and Russia in seeking the extradition of a Russian cybercrime suspect who was arrested in northern Greece last summer.
Greek authorities said France wants to put Alexander Vinnik on trial for alleged cybercrime, money laundering, membership in a criminal organization and extortion.
(The Conversation is an independent and nonprofit source of news, analysis and commentary from academic experts.)
Nir Kshetri, University of North Carolina – Greensboro
- The Washington TimesWikiLeaks sees Bitcoin donations surge in hours after Julian Assange's arrestApril 11, 2019
- The AdvocateStamford entrepreneurs hope to lure blockchain techFebruary 1, 2019
- The SunAccording to JPMorgan Chase:December 20, 2018
- The Washington TimesBill Gates: Cryptocurrency has 'caused deaths in a fairly direct way'March 1, 2018
MURPHYSBORO, Ill. (AP) — Could southern Illinois be the final frontier for bitcoin miners? Actor William Shatner thinks so, and is recruiting new tenants at solar-powered mining facility in the area.
Host of new worries pushes bitcoin to 4-month low
NEW YORK (AP) — The price of bitcoin fell to a four-month low of $6,370 on Wednesday, days after South Korean digital currency exchange Coinrail said hackers had stolen over $37 million, or almost a third of the virtual currency it had stored.
After Coinrail announced the theft, the price of bitcoin dropped to $6,333.95 per bitcoin. It is down $1,374.10 in the last week, according to Coinbase. At 3:30 p.m., bitcoin was quoted at $6,306.95.
SEOUL, South Korea (AP) — A South Korean cryptocurrency exchange said Monday hackers have stolen about one-third of the coins traded on its market, an announcement that sent bitcoin prices tumbling to a two-month low.
Coinrail said hackers stole cryptocurrencies over the weekend including Pundi X, Aston and NPER. It did not give a value but Yonhap News agency cited unnamed industry sources saying coins worth about 40 billion won ($37 million) were lost.
BILLINGS, Mont. (AP) — Hardin coal energy could end up providing power to a digital industry that sprang from cryptocurrencies like bitcoin.
The Billings Gazette reported Wednesday that data processing and blockchain interests are the latest entities to court the ailing Hardin Generating Station, a 109-megawatt coal-fired power plant that is seeking a buyer to avoid closure.
CHEYENNE, Wyo. (AP) — Block Chain Gang LLC, Crypto Cowboy, Something Something Blockchain LLC: Based on the names of dozens of new companies registering to set up shop in Wyoming, the state's effort to lure the latest tech craze appears to be paying off.
Proponents say blockchain — the ledger where transactions of digital currencies, like bitcoin, are recorded — could be the kick in the pants Wyoming needs to attract tech businesses and diversify its economy beyond fossil fuels.
OMAHA, Neb. (AP) — Billionaire Warren Buffett recommends that investors stick with simple stock index funds — not bonds and especially not bitcoins.
Buffett discussed a variety of topics during an interview on CNBC Monday after he spent Saturday answering questions before thousands of Berkshire Hathaway shareholders.
MADISON, Wis. (AP) — The Wisconsin Ethics Commission is asking the state Legislature to decide what to do about campaign donations made in bitcoin and other digital currencies.
The commission's administrator on Friday asked the chairmen of Senate and Assembly elections committees to address the issue and "provide clarity to candidates and committees as to whether they may accept contributions of cryptocurrency."
MADISON, Wis. (AP) — Wisconsin ethics officials are considering making the state among the leaders in accepting political contributions in bitcoins and other digital currencies, despite concerns about the inherent anonymity of such donations and the fluctuation of exchange rates.
The website for Ukraine's energy and coal ministry was hacked Tuesday to display a message demanding a ransom paid in Bitcoin, but no other government websites or systems were affected, authorities said.
Ukrainian cyber police spokeswoman Yulia Kvitko confirmed an incident involving the federal Ministry of Energy and Coal Industry website that rendered it unreachable Tuesday, Reuters reported.
- Globe NewswireEnigma Securities Launches Crypto Payment Terminals to Allow Hotels, Restaurants and Retailers to Seamlessly Accept Bitcoin as Payment.May 14, 2019
- Globe NewswireGDET Announces Completion of Major Firmware Update to Bitcoin Mining OperationMay 14, 2019
- Globe NewswireGDET Announces Upgrade to Bitcoin Mining OperationMay 13, 2019
- Business WireGSR Launches a New Structured Product to Limit Crypto Trading LossesMay 13, 2019
Want to contribute bitcoin to a political campaign? State ethics panel could decide if and how
State political campaigns could have guidelines for accepting contributions via digital currencies such as bitcoin if a new request from the Libertarian Party of Wisconsin is approved.
The state Ethics Commission will mull how to address such contributions at its Tuesday meeting. A public hearing also is planned.
Digital, or crypto-, currencies, of which bitcoin is the most widely known, are new online-only forms of currency that are not governed by authorities such as a central bank.
Power-sucking Bitcoin ‘mines’ spark backlash
Bitcoin "miners" who use rows of computers whirring at the same time to produce virtual currencies began taking root along New York's northern border a couple of years ago to tap into some of the nation's cheapest hydroelectric power, offering an air of Silicon Valley sophistication to this often-snowy region.
Wisconsin Ethics Commission to consider bitcoin policy
MADISON, Wis. (AP) — The Wisconsin Ethics Commission is considering a policy guiding what to do about political contributions made in bitcoin and other cryptocurrencies.
Bitcoin is gaining in popularity as a type of privately issued digital money.
The Ethics Commission is holding a hearing Tuesday in response to February request from the Libertarian Party of Wisconsin for public input and a policy on the use of campaigns accepting cryptocurrencies and making payments with them.
Report: Iran officially bans use of cryptocurrencies
TEHRAN, Iran (AP) — Iran's Central Bank has officially banned the use of cryptocurrencies in financial transactions in order to prevent money laundering and terrorism, a newspaper reported Monday.
The move is seen as part of Tehran's efforts to control the currency market after the rial hit an all-time low earlier this month.
The Donya-e Eqtesad daily says the ban applies to "all monetary and financial centers of the country," including banks, financial institutions and currency exchange offices.
NEW YORK (AP) — Twitter says it will ban or restrict advertisements related to cryptocurrencies in an attempt to crack down on fraud. The move follows similar steps by Facebook and Google earlier this year.
Twitter said the new rules will roll out starting Tuesday and will apply to all advertisers in about a month. The new policy prohibits ads for initial coin offerings, in which a startup issues a currency that can be used to buy services with the company.
Inside a $1.5 billion cryptocurrency startup in Virginia
BLACKSBURG, Va. (AP) — Dan Larimer was broke, living in his parents' house, driving his mom's 2001 Nissan Altima and dealing with a messy divorce when he first discovered bitcoin in 2009.
That's back when one of the cybercoins cost 5 cents — instead of the $8,000 to $10,000 they were selling for last week.
The now 35-year-old Virginia Tech graduate bought $20 worth, which was enough given his financial straits at the time. Today, that investment is worth about $4 million.
KAMPALA, Uganda (AP) — In a sleek new high-rise in Uganda's capital, an enthusiastic lecturer described his financial success with the cryptocurrency bitcoin while his earnings were projected on a screen.
"What I have earned in one-and-a-half years from bitcoin is more than I earned in 10 years as a teacher," Richard M. Bagorogo told his audience. "I am living on bitcoin because getting a job in this country is not easy."
The website for a used car dealership in Danbury boasts, “EZ2Drive is the ONLY DEALER IN THE NORTHEAST to accept Bitcoin, Ethereum, Litecoin and cryptocurrency as payment.”
According to an article in The News-Times, owner John Fieschi believes “in the next five or 10 years everyone will be using digital currency,” which is purchased by consumers using real money but lacks the backing of any government or bank.
Bitcoin mining company begins operations in Butte
BUTTE, Mont. (AP) — A company created to mine for the digital currency bitcoin has begun operation at facility in western Montana.
The Montana Standard reports CryptoWatt LLC activated about 2,000 computer servers at the former Mike Mansfield Advanced Technology Center south of Butte Wednesday.
Google to ban cryptocurrency and related advertisements
NEW YORK (AP) — Google says it is going to ban advertisements for cryptocurrencies such as bitcoin, as well as related content like trading advice and cryptocurrency wallets.
The new policies, which also ban other complex financial products, will go into effect in June.
The Mountain View, California-based company announced the change Wednesday.
Bitcoin ATMs expand to Rhode Island
PROVIDENCE, R.I. (AP) — A national bitcoin ATM network has expanded into Rhode Island.
WPRI-TV reports New York-based Coinsource has installed ATMs in Cranston and Providence that can convert cash into bitcoin. Coinsource co-founder Bobby Sharp says the ATMs help people who don't want to link their bank accounts to a bitcoin exchange, or don't want to wait the average 48 to 72 hours needed for an exchange.
CHICAGO (AP) — Digital currency is becoming a fundamental part of some finance courses at Illinois universities.
TOKYO (AP) — The Japanese government is slapping penalties on several cryptocurrency exchanges in the country, after 58 billion yen ($530 million) of virtual coins were lost earlier this year from hacking.
The Financial Services Agency, which has been checking the exchanges, said Thursday that FSHO and Bit Station exchanges were ordered to halt operations for a month.
REYKJAVIK, Iceland (AP) — Some 600 computers used to "mine" bitcoin and other virtual currencies have been stolen from data centers in Iceland in what police say is the biggest series of thefts ever in the North Atlantic island nation.
Some 11 people were arrested, including a security guard, in what Icelandic media have dubbed the "Big Bitcoin Heist." A judge at the Reykjanes District Court on Friday ordered two people to remain in custody.
LONDON (AP) — Bank of England Governor Mark Carney on Friday launched a withering attack on cryptocurrencies such as bitcoin and urged regulators around the world to monitor them in the same way as other financial assets.
In a speech to the Scottish Economics conference in Edinburgh, Carney said a "global speculative mania" has "encouraged a proliferation of new cryptocurrencies" and said they should be held to the "same standards" as the rest of the financial system.
Bitcoin billionaire? Don’t forget the IRS
Cryptocurrencies like bitcoin may not be regulated by the government, but they're still subject to being taxed.
There have been various forms of digital currencies around for years, but several have taken off in popularity recently. And that may leave some newcomers to this marketplace unaware that they face taxation on their dealings.
Anatomy of a bitcoin transaction: Buying a used Subaru
EAST GREENBUSH, N.Y. (AP) — Bitcoins can buy you a TAG Heuer watch, a cross-country flight or a meatball marinara sub. But really, how does it work?
Purchases with bitcoin and other digital currencies remain rare relative to cash and credit cards. Many bitcoin holders value it more as an investment than a day-to-day currency.
Bitcoin Buyers Tapping Currency Into Cars, Goods
Bitcoin ATMs in Detroit party stores, gas stations
The 23 Bitcoin automated-teller machines in Detroit are installed in places like the Big V Party Store on the northwest side. Signs outside the Big V prominently advertise its goods and services: check-cashing, money orders, liquor, Lotto tickets — and since last year, an ATM dedicated to the so-called future of money.
Cleveland-area entrepreneurs are pouring resources into new-currency technolgoy: Tech Czar Talk
Cleveland-area entrepreneurs are pouring resources into new-currency technolgoy: Tech Czar Talk
CLEVELAND, Ohio – A whole generation of Cleveland entrepreneurs is pouring financial and human resources into creating infrastructure, software, platforms, analytics all around a new type of currency -- blockchain and cryptocurrency also known as Bitcoin.
Vegas man accused of using bitcoin to launder drug money
LAS VEGAS (AP) — A 30-year-old Las Vegas man accused of trading the digital currency bitcoin to launder drug money has pleaded not guilty to federal charges in San Diego.
Records show that Morgan Rockcoons was ordered held Thursday by U.S. Magistrate Judge Jan Adler in San Diego pending a March 6 detention hearing on charges also including operating an unlicensed money transmitting business.
NY lawmakers to review regulations on Bitcoin
ALBANY, N.Y. (AP) — New York state lawmakers say they want to know whether current regulations relating to cryptocurrencies like Bitcoin are up to the task of protecting consumers.
Democratic Sens. David Carlucci, of Rockland County, and Jesse Hamilton, of Brooklyn, have scheduled a hearing on the topic Friday in New York City.