Coin News

BitPagos has partnered with Latin American e-commerce solutions provider Entrepids to offer bitcoin as a merchant payment option.

The Connecticut House of Representatives has passed a bill that would impose additional restrictions on MSBs that offer digital services.

The groundbreaking license granted to cryptocurrency exchange itBit signifies a momentous stride forward in the race to legitimize the fledgling digital currency

A strong drop from yesterday’s consolidation zone saw the Bitcoin price retrace 50% of the previous five wave advance. The question is now whether a bottom has been struck or whether more downside is due. This analysis is provided by xbt.social with a 3 hour delay. Read the full analysis here. Not a member? Join […]

The post Bitcoin Price Correction Continues Lower appeared first on CryptoCoinsNews.

 ItBit, a bitcoin exchange operating in New York and Singapore, has been approved as New York State Trust company and added a number of heavy hitters to its board of directors. Read More

UK Only Article:&nbsp; standard article Issue:&nbsp; Slings and arrows Fly Title:&nbsp; Blockchain Rubric:&nbsp; Or is it? Main image:&nbsp; 20150509_SRD008_0.jpg ASKED TO NAME an event that has reshaped finance in recent years, bankers will point to the collapse of Lehman Brothers on September 15th 2008, the nadir of the financial crisis. Fintech types are more likely to mention something that happened six weeks later. On October 31st 2008 Satoshi Nakamoto, a pseudonymous cryptography buff whose real identity remains a mystery, unveiled a project he dubbed bitcoin, “a new electronic cash system that’s fully peer-to-peer, with no trusted third party”. It described what appeared to be a robust framework for a currency that could run without the backing of any government. Enthusiasts proclaimed that finance was about to enter the era of crypto-currencies. Since the need for a trusted third party has traditionally been a large part of the banks’ raison d’être, this could mean that in future they will no longer be ...<div class="og_rss_groups"></div>

Today, international bitcoin exchange itBit announced that they had been granted a trust charter by the New York Department of Financial Services (NYFDS) under New York State banking law. This is the first such charter granted to a digital currency company by the NYDFS. ItBit also announced the successful completion of a $25 million Series A funding round and the expansion of their board of directors. Under the charter granted to itBit by the NYFDS, itBit is now able to accept customers from all 50 U.S. states in full compliance with state and federal law. “We have sought to move quickly but carefully to put in place rules of the road to protect consumers and provide greater regulatory certainty for virtual currency […]

The post Breaking: itBit Raises $25 Million, Granted Charter by NYDFS to Operate Nationwide with FDIC Insurance appeared first on Bitcoin Magazine.

New York bitcoin exchange itBit has raised $25 million in a new Series A round from investors including RRE Ventures and Liberty City Ventures.

This is a guest post by Pamela Morgan, Esq., CEO of Third Key Solutions LLC. Security is tricky. Sometimes the most obvious security solution is ineffective and, worse, a distraction from the real risks and issues. In the security industry this is called “security theater.” It looks good and makes some people feel secure, but doesn’t actually reduce risks. Sometimes security theater even exposes people to even greater risk. Such is the case with third-party identity verification for the recovery of bitcoin accounts. It seems like the obvious solution and feels secure, but, in fact, it exposes users to far greater risks without actually doing much to increase security. One of the most appealing parts of using Bitcoin multi-signature addresses is […]

The post Security Theater: The Illusion of Consumer Protection by Outsourcing Identity Verification appeared first on Bitcoin Magazine.

While the Internet has allowed people all around the world to find freelance work at the click of a button, it also has created a situation where these online workers are sometimes exploited or simply not paid for their work. Microwork.io is a startup that plans to put power back into the hands of the freelancer and allow the poor all over the world to earn a decent wage. Microwork.io founder and CEO Andy Gough recently spoke to Bitcoin Magazine and answered a few questions about his new project. He described how blockchain technology can be used to “free workers all over the world from exploitation and abuse.” Gough’s hopes for Microwork.io Microwork.io is best described as a more open […]

The post Microwork.io Uses Smart Contracts to Coordinate Small Tasks Worldwide appeared first on Bitcoin Magazine.

Startup Europe organized a “Blockchain and Digital Currencies Workshop” on April 27. Digital Currency Summit founder Alex Puig led the event, with the participation of Bitcoin companies and senior financial experts. Each European Union (EU) country regards Bitcoin differently, and regulations are constantly evolving. The Startup Europe initiative seems a first step to establish EU-wide coordination of national initiatives for Bitcoin regulation and government-funded research. Startup Europe aims to strengthen the business environment for web and ICT entrepreneurs so that their ideas and business can start and grow in the EU. Startup Europe is part of Digital Agenda for Europe (DAE), an initiative of the European Commission, and contributes to the Entrepreneurship 2020 Action Plan. Puig opened the workshop and […]

The post German Central Bank Economist Expects EU to Fund Digital Currency Research appeared first on Bitcoin Magazine.

By Lionel Laurent

LONDON (Reuters) - U.S. bank Citigroup is targeting market-share gains in equities in 2015, its European head of equities told Reuters, pointing to fresh technology investment and new hires as financial-market trading picks up.

The comments echo a more optimistic stance from trading desks at global investment banks after a bumper quarter boosted by the European Central Bank's announcement of a bond-buying scheme to spur growth.

They contrast with last year's more lackluster picture of the stock-trading industry, particularly in Europe, with tepid volume growth and increased regulatory scrutiny squeezing trading commissions and stoking fears of more cutbacks.

"We are not pulling back in equities - quite the opposite," Citi's Tim Gately said in an interview. "We continuously invest in technology, have made a number of senior hires and expect to grow our market and wallet share in 2015."

Citi is making a push for a bigger share of spending from top clients and hedge funds, Gately added.

In an era of tighter balance-sheet rules and cost cuts, banks in general are taking a more targeted approach to client lists when allocating resources, seeking to squeeze more revenue out of top clients in a competitive industry.

First-quarter equities revenue grew at double-digit percentage rates for a number of U.S. banks including Morgan Stanley and J.P.Morgan, though Citi bucked the trend with a 1-percent decline in the quarter.

The pick-up was also broadly felt in Europe, with Germany's Deutsche Bank unveiling a new plan to invest more in its small but growing equities trading division.

Trading conditions for the industry are set to stay positive, said Gately, thanks to near-zero yields in much of the bond market, which made equities more attractive to investors.

"The first quarter was not just a blip (for the industry)," he said.

Citi and Deutsche are traditionally more dominant in fixed-income trading. Research firm Coalition ranked Citi in the bottom third of the top 10 banks for global equities in 2014, with Deutsche Bank in the middle tier.

Citi management said in the fourth quarter it would "take actions" to turn around its underperforming EMEA equities franchise. Among new hires, the bank has named Murray Roos as its new London-based global head of sales for equities and prime finance and Emmanuel Girod as global head of exotics trading.

Some have warned, however, that the spreading ripples of optimism in equities may be a case of market-driven bullishness than a new dawn for the highly automated, high-return, but also volume-dependent world of trading stocks.

Banking sources told Reuters they still expected some smaller players to cut back or exit the equities business given the competitive pressures, though improved trading conditions had allowed for some easing of pressure.

(Editing by Mark Potter and Pravin Char)

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The Bitcoin Philippines Corporation formally launched the first two-way Bitcoin ATM in the Philippines on May 5. The Genesis1 is centrally located in the main lobby of the Sunette Tower Hotel in the heart of Manila’s financial district. The Bitcoin ATM is currently online and processing bitcoin transactions and has been available to the public since […]

The post Philippines’ First Two-Way Bitcoin ATM Opens In Heart Of Manila’s Financial District appeared first on CryptoCoinsNews.

Extortion for Bitcoin has become more and more common within the United States, with families, businesses and even police departments under attack. Anywhere from a couple of bitcoins to one hundred or more are demanded. The problem has been domestic, but now other major Bitcoin markets like Australia and New Zealand are feeling the effects […]

The post Australia and New Zealand Hit in Extortion for Bitcoin Plots appeared first on CryptoCoinsNews.

By Svea Herbst-Bayliss and Lauren Tara LaCapra

LAS VEGAS (Reuters) - Would you like to know whether sage investor and mammoth hedge fund manager John Paulson is bullish on stocks? Or how about what he sees as the most promising investment opportunities today? We'd love to tell you, but we've been sworn to secrecy.

We're also dying to share what former Federal Reserve Chairman Ben Bernanke had to say, but we weren't even allowed in the room.

At one of the world's biggest hedge fund industry conferences, two of the most closely followed market figures, required that every word they uttered stay unreported.

The SkyBridge Alternatives Conference, known as SALT, attracts 1,800 investors who pay thousands of dollars apiece to attend the annual Las Vegas event. Vegas rules definitely applied to certain speakers: What was said in the room stayed in the room.

Paulson, who earned billions with a bet against the overheated housing market in 2007, was a marquee speaker, but all of what he said to a packed ballroom of hedge fund managers and investors was strictly off the record. The same was true for Bernanke, whose panel could not be attended by the press.

As the head of $20 billion firm Paulson & Co., Paulson's thoughts on the markets and investing are closely watched and his comments were a main draw for other investors, several said.

But he came to the conference on the condition of not having his words repeated by anyone to anyone, a SALT spokeswoman said.

According to the program, Paulson and Bernanke were both interviewed by Anthony Scaramucci, SkyBridge's founder, at separate sessions.

At times when Paulson spoke, a flashing sign reminded the audience that his comments were off the record, but the two other panelists could be quoted freely.

Prominent hedge fund managers have long shied away from the spotlight, partly because their funds are private in nature. But since the financial crisis, some have become even more withdrawn amid public outcry over their huge pay packages and the role critics say they played in the market's crash. Paulson himself has faced protests outside of his home.

At the SkyBridge event, Paulson wore his signature black suit and white shirt and shifted in his seat as he spoke about markets and investments. SkyBridge, which invests $1 billion of client money in Paulson's funds, tweeted another panelist’s comments under its conference’s Twitter account, @SALTConference, but did not mention that Paulson was speaking.

Some other managers said the reason for Paulson's reticence might be that he is worried about breaking disclosure rules. Daniel Loeb who runs $17.5 billion hedge fund Third Point permitted his words to be reported.

The Paulson panel was followed by Bernanke's. Other panels featuring prominent hedge fund managers, including Loeb, restricted video and audio recording and photographs but allowed journalists to write about what happened inside.

(Reporting by Svea Herbst-Bayliss and Lauren LaCapra; Editing by Cynthia Osterman)

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