UK set to abolish tax on Bitcoin March 3, 2014 The UK is planning to scrap VAT on the trading of digital currency Bitcoin, reports the Financial Times. A briefing by Her Majesty's Revenue and Customs (HMRC) said it would end the 20 per cent VAT on Bitcoin transactions, adding that it would not tax margins as well. A formal announcement is expected later in [...]
Yellen: Fed “does not have authority to supervise or regulate Bitcoin in any way” February 27, 2014 Fans of Bitcoin may be suffering from some mixed feelings. Many love the cryptocurrency as unlike fiat money, such as the US dollar, it has no central bank. But the world's most important central banker, Federal Reserve chair Janet Yellen, just gave the currency a great boost. During questions Yellen has just ruled out the [...]
CEO of disappearing Bitcoin exchange assures users he’s “still in Japan” February 26, 2014 After the highly popular Bitcoin exchange disappeared entirely yesterday, CEO Mark Karpeles has put an announcement on MtGox's site to "reassure everyone that I am still in Japan". Karpeles says that he is "working very hard with the support of different parties to find a solution to our recent issues." The Bitcoin exchange is alleged [...]
Biggest Bitcoin exchange site turns itself off February 25, 2014 THE LARGEST trading site for the Bitcoin cryptocurrency vanished, along with an alleged $375m-worth of investments. Mt Gox went offline yesterday, less than a month after it blamed “unusual activity” for a decision to suspend withdrawals. The website last night displayed a message telling investors it had shut down “for the time being in order to [...]
Video: Betfair founder says Bitcoin adoption is “inevitable” February 25, 2014 Ed Wray knows a fair bit about the internet. Having worked at JP Morgan for eight years he co-founded of Betfair in 1999, where he served as chairman until March 2012. He went on to become a non-executive director at crowdfunding site Funding Circle and to invest in taxi app Kabee. We caught [...]
Why the end of MtGox is great news for Bitcoin February 25, 2014 The death of Bitcoin's most popular exchange couldn't have come sooner. MtGox is reported to have lost up to 744,408 Bitcoin – or around six per cent of all in circulation – as a result of problems with its own software. That's according to a currently unverified document, allegedly a leak from MtGox itself, after [...]
MtGox shuts down in fresh blow for Bitcoin February 25, 2014 MtGox, one of the world's largest Bitcoin exchanges, has suspended trading and taken its website offline, as well as erasing the company's twitter account. This follows the resignation of the exchange's chief executive Mark Karpeles, on Sunday. The Financial Times reports that a document circulated online says the exchange has lost a staggering 744,000 Bitcoins [...]
MtGox’s Karpeles resigns from Bitcoin Foundation board February 24, 2014 Bitcoin exchange MtGox has resigned from its place on the Bitcoin Foundation board, according to a blog entry by Bitcoin Foundation executive director and board member Jon Matonis. The Bitcoin Foundation is a trade group with a mission to promote, standardise, and protect the popular cryptocurrency. Matonis says that the change is "effective immediately", and [...]
First Bitcoin shop opens its doors here in the City February 18, 2014 BITCOIN, Bitcoin, Bitcoin – not a day goes by when the pioneering cryptocurrency isn’t dominating headlines, but actually getting hold of the virtual coinage is still relatively difficult for most people (The Capitalist included). But that might be about to change. There’s now a Bitcoin shop (Europe’s first). And it’s in the City – [...]
Video: We take a look around Europe’s first Bitcoin shop February 18, 2014 Bitcoin had a pretty rough time of it last week. The Apple app store banned it, so did Russia, $2.7m worth of the cryptocurrency was nicked from Silk Road 2 and its value fell to half of what it was two weeks before. But here’s some good Bitcoin news. Europe’s first physical Bitcoin [...]