Farewell corporate power: How the rise of the blockchain could change everything December 15, 2014 OUR WORLD is full of third parties – the people and organisations that regulate and manage our interactions. The financial world is particularly replete: conduct authorities, prudential bodies, central banks. Even commercial financial institutions themselves often operate as little more than giant third parties, co-ordinating the connections between millions of lenders and borrowers. However, a [...]
The digital currency boom: Britain can claim first-mover advantage by acting now December 11, 2014 The UK has always been at the forefront of financial innovation, and we continue to lead the way today. This year, we became the first Western country to issue sukuk sovereign bonds. But we risk being caught on the hop in the emerging digital world. Within a few years, digital currencies, like Bitcoin, have gone [...]
Microsoft quietly starts to accept Bitcoin payments December 11, 2014 Microsoft has quietly started accepting Bitcoin payments. Customers can now use the cryptocurrency to buy content such as Windows phone apps, Xbox games and the Xbox video stores. The software giant made no formal announcement, instead creating an information page on its website which tells customers how to top up their accounts using the virtual currency. [...]
Tim Draper revealed as a winner in second US Bitcoin auction December 6, 2014 US venture capitalist Tim Draper was won 2,000 Bitcoins worth $750,000 in a bid auction held by the US Marshals Service. The Bitcoins were part of a haul of 50,000 that were seized after the shutdown of online drugs marketplace Silk Road last year. The Bitcoins were taken from wallet files that belonged to the [...]
US government to auction 50,000 Bitcoins seized from online drugs marketplace Silk Road December 4, 2014 The US Marshals Service has announced a fresh auction of 50,000 Bitcoins seized after the shutdown of online drugs marketplace Silk Road last year. The digital currency was seized from wallet files that belonged to the owner of the Silk Road, allegedly website Ross William Ulbricht, known online as "Dread Pirate". In 2012, Ulbricht was charged [...]
HSBC says bye-bye to Bitcoin hedge fund Global Advisors December 1, 2014 HSBC will no longer work with the first regulated Bitcoin investment fund amid concerns about "money laundering risk". Hedge fund Global Advisors (GA), which is based on the island of Jersey, told the BBC that the British bank had ended the working relationship. Daniel Masters, founder of GA, said that the move will jeopardise plans to [...]
Bitcoin blackmailer Lewys Martin who demanded £1m from Halifax for the return of 28,000 customers’ details to be sentenced November 24, 2014 A cyber hacker who attempted to blackmail Halifax bank into giving him 2,800 Bitcoins – worth more than £1m – is facing a jail sentence today. Lewys Martin had threatened the bank with releasing the details of 28,000 account holders to The Sun, and demanded one Bitcoin for every 10 sets of details he [...]
Bitcoin is bust: Why investors should abandon the doomed cryptocurrency November 5, 2014 SINCE its inception, the market for bitcoin has experienced one of the most remarkable roller coaster rides of all time. Originally worth a fraction of one cent in 2009, the price of bitcoin rose to peak at not far short of $1,200 in December 2013. Since then, it has fallen erratically and is currently about [...]
Former head of US regulator lands role advising top Bitcoin companies October 28, 2014 A former chair of the Securities and Exchange Commission (SEC) has been appointed to the advisory board of the two major Bitcoin companies. Arthur Levitt, who served as chair of the SEC between 1993 and 2001, will advise Bitpay and Vaurum on how to handle future regulatory challenges. Levitt was optimistic about the future of [...]
Coinfloor to launch bitcoin fund and trade in wider range of currencies because of “very conservative” UK banks October 19, 2014 Coinfloor, the London-based bitcoin exchange, is opening up to a wider range of currencies, according to the FT. It will also raise money from its investors to launch a bitcoin fund next month, taking the company's value up to £8m. Investors are likely to include venture group Passion Capital and Taavet Hinrikus, chief [...]