Coin News

Distributed denial-of-service attacks against organizations in New Zealand appear to be connected to the extortionist group DD4BC.

After launching about one year ago, BTCXIndia is closing its trading platform because its bank will no longer allow them to operate. The exchange posted a notice on its website stating that they will close down their bitcoin trading platform as of May 20, 2015. BTCXIndia was the first bitcoin exchange in India offering a […]

The post Indian Bank Shuts Down Bitcoin Exchange BTCXIndia appeared first on CryptoCoinsNews.

The multi-day downside reverse divergence highlighted in yesterday’s analysis won out, and a Bitcoin price corrective wave low was struck. Price has now advanced impulsively above both the 1-hour and 4-hour 200MAs and the outlook is very bullish, but a consolidation below $240 and 1480 CNY has the market in two minds. This analysis is […]

The post Bitcoin Price Surges Higher (& Higher) appeared first on CryptoCoinsNews.

CoinDesk has taken a look at the top bitcoin-related headlines from across the globe.

The digital currency company Ripple Labs has adapted in response to recent penalties and fines by FinCEN for reportedly “willful violations” of the Bank Secrecy Act. As industry analysts have pointed out, since the violations, the company has drastically increased its anti-money laundering (AML) efforts. But this might just be the beginning of more strict regulatory actions against digital currency companies. Regulators shut down previous digital currency businesses that violated financial regulations such as Bitinstant, but Ripple Labs has escaped this fate. Many have attributed this to the company’s proactive and aggressive measures to comply with regulations since the 2013 guidelines for digital currency companies published by FinCEN and its willingness to work with regulatory agencies. “[A]s the government has […]

The post Post FinCEN Penalties, Ripple Labs Adapts and Moves On appeared first on Bitcoin Magazine.

The digital currency company Ripple Labs has adapted in response to recent penalties and fines by FinCEN for reportedly “willful violations” of the Bank Secrecy Act. As industry analysts have pointed out, since the violations, the company has drastically increased its anti-money laundering (AML) efforts. But this might just be the beginning of more strict regulatory actions against digital currency companies. Regulators shut down previous digital currency businesses that violated financial regulations such as Bitinstant, but Ripple Labs has escaped this fate. Many have attributed this to the company’s proactive and aggressive measures to comply with regulations since the 2013 guidelines for digital currency companies published by FinCEN and its willingness to work with regulatory agencies. “[A]s the government has […]

The post Post FinCEN Penalties, Ripple Labs Adapts and Moves On appeared first on Bitcoin Magazine.

Mobile games are one of the many technologies that have begun to integrate cryptocurrencies. For example, Shaq Fu: The Legend Reborn has integrated Quarkcoin for in-game payments, and new games based on the blockchain, using Huntercoin and Motocoin, have emerged. EverdreamSoft, a Swiss mobile gaming company, is a part of this movement, and has committed to using bitcoin with its star franchise. Using the Counterparty protocol, EverdreamSoft plans to place their online trading cards on the Bitcoin blockchain, along with a new cryptocurrency called BitCrystals. EverdreamSoft rose to popularity in 2010 with the release of their app Moonga, one of the first free-to-play games for iOS or Android. The online trading game has been ranked the top role-playing game in […]

The post Moonga Game Series to Utilize Blockchain for In-game Assets and Crowdfunding appeared first on Bitcoin Magazine.

Mobile games are one of the many technologies that have begun to integrate cryptocurrencies. For example, Shaq Fu: The Legend Reborn has integrated Quarkcoin for in-game payments, and new games based on the blockchain, using Huntercoin and Motocoin, have emerged. EverdreamSoft, a Swiss mobile gaming company, is a part of this movement, and has committed to using bitcoin with its star franchise. Using the Counterparty protocol, EverdreamSoft plans to place their online trading cards on the Bitcoin blockchain, along with a new cryptocurrency called BitCrystals. EverdreamSoft rose to popularity in 2010 with the release of their app Moonga, one of the first free-to-play games for iOS or Android. The online trading game has been ranked the top role-playing game in […]

The post Moonga Game Series to Utilize Blockchain for In-game Assets and Crowdfunding appeared first on Bitcoin Magazine.

Asian Bitcoin company BitSpark announced the temporary closure of its bitcoin exchange earlier this month so the company could focus on its pioneering bitcoin remittance service. The company also recently expanded into mainland China through a partnership with Chinese Bitcoin company Melotic. Melotic recently shut down its own crypto-currency exchange, citing a lack of demand for the service. A company blog post read, “Simply put, we did not experience enough growth in this product to justify the ongoing costs of development, maintenance, and support.” According to BitSpark CEO George Harrap, his company closed their exchange for similar reasons. “Recently our remittance business has [been] taking off with rising support for our key remittance corridors of the Philippines, Indonesia, Australia, Hong […]

The post BitSpark Closes Exchange to Focus on Establishing Bitcoin Remittance Service appeared first on Bitcoin Magazine.

Bitcoin exchange BTCXIndia has been forced to shut down following the loss of its banking partner.

New York is doing its best to become the home of bitcoin, launching the first fully regulated national bitcoin exchange in the US.

itBit has become the first Government approved digital currency exchange in the US, after regulators gave the New York based start-up Trust status.

San Francisco start-up Coinbase earlier this year launched an exchange platform regulated in 23 states but itBit is the first with a national remit to operate.

Regulation through the New York State Department of Financial Services means the start-up must meet the same regulatory requirements as banks and the company hopes this will help attract institutional investors to bitcoin.

CEO and co-founder Charles Cascarilla said: “Our mission at itBit has always been to create a trusted, institutional-grade exchange and regulatory compliance is an important pillar of that mission."

Institutions have up until now avoided bitcoin, seeing it as too much of a financial wild west due to the collapse of high profile exchange MtGox and digital heists at other bitcoin business like Bitstamp.

The US beating the UK to the first regulated exchange might seem like a blow for London. The Government said in a white paper earlier this year that it wants digital currency businesses to "flourish" here and has been vocal in support for FinTech.

Tom Robinson, head of the UK Digital Currency Alliance, doesn't think it will hurt London in the long run though. He told Business Insider: "While London has not regulated the sector to date, New York is establishing considerable regulatory barriers to entry.

"It's still too early to know which approach will be most successful, but heavy regulation is likely to stifle innovation and the environment in London should make it more attractive to startups that don't have millions of dollars to spend on compliance."

Robinson has been working closely with The Treasury and regulator the Financial Conduct Authority on a drawing up an appropriate regulatory framework for bitcoin and digital currency businesses.

But while London may be a light touch on regulation compared to the US, the biggest bitcoin exchange in the world is in China, followed by four in the US. London needs to make sure it doesn't miss out.

Guy Levin, head of the UK tech pressure group the Coalition for Digital Economy, told Business Insider: "We need to make sure that the UK continues to lead the world on FinTech, including digital currencies. It's great that George Osborne has previously shown his support for the sector, and we hope the new government will keep up the momentum."

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Joe Maristela, a healthcare entrepreneur, has invested $100,000 in Satoshi Citadel Industries (SCI) and has challenged other traditional business owners to follow him by investing in Philippine technologies. SCI is an umbrella firm for seven Philippine bitcoin companies, including Rebit.ph, a remittance service, Bitmarket.ph, a bitcoin payment processor, and the recently-acquired BuyBitcoin.ph, a bitcoin exchange. […]

The post Healthcare Entrepreneur Invests In Satoshi Citadel to Increase Bitcoin Adoption in the Philippines appeared first on CryptoCoinsNews.

The Olympia Brew Fest, an annual summer beer festival at the Port Plaza in Olympia, Wash., will accept bitcoin for the purchase of admission. The announcement marks a measure of progress in bitcoin as a payment method for alcohol. Festival organizers claim they will be the first in the world to accept bitcoin. The festival, […]

The post Olympia Brew Fest Aug. 1 To Accept Bitcoin appeared first on CryptoCoinsNews.

Unocoin, a trading platform in India, has reportedly been at the center of an intensifying debate in India over the legality and regulation of Bitcoin. The trading platform portends to be India’s Bitcoin Exchange, and has shut down once before due to uncertainties over Bitcoin in the country. According to a BitcoinTalk Bitcoin Forum Hero […]

The post Is India Cracking Down on Bitcoin? appeared first on CryptoCoinsNews.

Fitbit just filed a $100 million IPO, but there's a real problem looming that could cripple their business. And it's not Apple.