Bitstamp halts trading after £3.5m theft January 6, 2015 BITCOIN exchange Bitstamp yesterday said it suspended trading after a security breach led to a loss of 19,000 bitcoins. The loss is equivalent to just under £3.5m. “This breach represents a small fraction of Bitstamp’s total bitcoin reserves, the overwhelming majority of which are held in secure offline cold storage systems,” Bitstamp said. “We are [...]
City A.M. launches power list for London FinTech March 23, 2015 It has created billion-dollar startups, attracted record investment and is keeping major banks on their toes – London FinTech is having a moment and there are some major influencers making that happen. To keep you up to date with who’s who in the world of London FinTech, City A.M. has launched its own power list, [...]
George Osborne makes a quick buck on £20 Bitcoin buy at Level 39 August 6, 2014 As the Chancellor of the Exchequer, you might expect George Osborne would like to keep his own pocket money in good old, Bank of England-regulated, sterling. But it’s apparent a trip to trendy FinTech den Level 39 has left Osborne with a sense of adventure – he’s gone where no chancellor has gone before – [...]
Why Bitcoin’s extraordinary price rise is driven by more than speculation June 5, 2014 One of the most potent criticisms that has been leveled against the popular cryptocurrency Bitcoin, is that the price is intimately linked with speculation and that there are few fundamental factors driving its extraordinary rise from $5 per Bitcoin in 2011, to $660 today. Those with a more bullish dispositon on the cryptocurrency counter that there [...]
Bitcoin banned in Ecuador until new state-run currency is established July 25, 2014 Ecuador's socialist dominated National Assembly has for all intents and purposes banned digital currencies while the country prepares to establish a new currency, reports Coindesk. However, the government will still be allowed to make payments using "electronic money." 91 members voted in favour of the reforms. Furthermore, Ecuador will be introducing a national digital currency, which [...]
Hailo taxi app actively looking into accepting Bitcoin says CEO July 23, 2014 London-based taxi app Hailo could allow customers to pay for their rides using cryptocurrency Bitcoin, according to the company's CEO Jay Bregman. Speaking to digital currency news site Coindesk, Bregman said Hailo could also allow Bitcoin to be sent directly to drivers. Hailo, founded in London in 2011, gives customers the ability to hail cabs through its own app. "We [...]
Bitcoin and the future of free market money June 19, 2014 The correct government response to the rise of cryptocurrencies should be to allow free competition on a level playing field, according to a new monograph published by the Institute of Economic Affairs (IEA). New Private Monies: A Bit-Part Player? was launched at the IEA's offices in Westminster with a panel discussion in front of a [...]
Bitcoin’s success hinges on the rule of law says Canadian think tank May 29, 2014 The success or failure of the world's favourite cyrptocurrency depends on its legal status, according to a research note from the Montreal Economic Institute (MEI). Examining a host of countries that have implemented regulatory frameworks regarding Bitcoin, MEI find there are three factors which are critical to the success of the digital currency. First, users [...]
Bitcoin under fire from European Banking Authority July 4, 2014 The European Banking Authority (EBA) has launched a scathing attack on cryptocurrency Bitcoin, warning that the potential benefits of digital currencies will be outweighed by a host of risks, reports the FT's Sam Fleming. In an address to lawmakers, the EBA argued that the problems associated with Bitcoin could only be addressed by a regulatory [...]
Bitcoin finds new champion in US Congress June 23, 2014 Bitcoin and other cryptocurrencies have had a testy relationship with legislators. Across the world lawmakers have struggled to articulate a coherent response to the rapid rise of digital currencies. Many have been sceptical about their benefits and sometimes have even displayed outright hostility to the emergence of semi-anonymous private monies. However, in the US House [...]