Coin News

The European Union's Court of Justice Advocate reached a decision today on the validity of value-added taxation for Bitcoin trading. After careful consideration of arguments from Estonia, Germany, Sweden, and members of the European Bitcoin industry including David Hedqvist, the court decided that the acquisition of Bitcoin was not a taxable event in the eyes of the VAT. Also read: European Union to Rule on Bitcoin VAT Today While there is currently no English translation of the ruling, the Google translate edition does it enough justice to decipher the reasoning behind it. The conversion of a pure means of payment […]

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Having recently reached its seed-round fundraising goal of $1 million on Bnk to the Future, Factom Inc. has now launched a Release Candidate One (RC1), a critical step for launching the Factom network. In a blog post on the Factom site, the company is calling on developers and interested participants to join their efforts to help test and debug the beta client in advance of making it available to the broader community. Beta will be released once the release candidate passes all necessary tests and meets all the requirements set out in Factom’s Milestone 1. According to the blog, Factoids — the Factom currency used to purchase Entry Credits — will become tradable on Cryptsy and ShapeShift initially, with the […]

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 And lo, volatility returned to the crypto-markets. It’s been a fun week in the bitcoin markets, having seen the price of the stuff break the emotionally important $300 mark, only to fall back underneath it. The mini rally was perhaps inspired in part by Grecian fever dreams. And then there was Litecoin, which cause a stir by showing something akin to life, before giving up the ghost in… Read More

 And lo, volatility returned to the crypto-markets. It’s been a fun week in the bitcoin markets, having seen the price of the stuff break the emotionally important $300 mark, only to fall back underneath it. The mini rally was perhaps inspired in part by Grecian fever dreams. And then there was Litecoin, which cause a stir by showing something akin to life, before giving up the ghost in… Read More

Snapcard, the San Francisco-based bitcoin wallet provider, announced today that it had formed a partnership with ifeelgoods, a digital gifting platform. The partnership is meant to give the companies using ifeelgoods the ability to create, launch and monitor campaigns that offer end users the chance to earn bitcoin as a reward. The company is using Snapcard’s MassPay API, which allows companies to instantly and programmatically send payments to either a phone number or email address. Because of this, companies that use ifeelgoods will be able to offer bitcoin as an incentive tool for marketing campaigns, employee recognition and loyalty programs. Since its launch, ifeelgoods has delivered more than 30 million rewards and has worked with companies such as Walmart, GAP […]

The post Snapcard Announces Partnership with ifeelgoods to Offer Bitcoin as a Reward for Major Retailers appeared first on Bitcoin Magazine.

CoinDesk’s Q2 2015 State of Bitcoin report examines the key data and events from the cryptocurrency space in the last quarter.

The North Carolina Senate Commerce Committee has agreed to support a House Bill drafted by North Carolina’s banking commissioner regarding money transmission. The bill, titled “AN ACT TO ENACT THE NORTH CAROLINA MONEY TRANSMITTERS ACT AS 3 REQUESTED BY THE OFFICE OF THE NORTH CAROLINA COMMISSIONER OF 4 BANKS,” states that money transmission includes maintaining control of virtual currency on behalf of others, and that the “online-only money” [bitcoin] is converted to cash using digital currency exchanges and the holder keeps it stored online. The bill passed the House back in May and is in the process of being approved by another panel of senators. Some senators have agreed to support the bill and to give officials of North Carolina […]

The post North Carolina Senate Committee Supports Bill to Regulate Bitcoin, Coin Center Responds with Feedback appeared first on Bitcoin Magazine.

Bitcoin operations should be exempt from VAT, the Advocate General of the European Court of Justice said in an opinion document published today.

tandard Chartered Chief Innovation Officer Anju Patwardhan is the latest senior banker to praise the potential of the blockchain technology behind Bitcoin as a way to cut costs and improve transparency for financial transactions, Finextra reports. Standard Chartered is a British multinational banking and financial services company headquartered in London. It operates a network of more than 1,700 branches and outlets (including subsidiaries, associates and joint ventures) across more than 70 countries and employs around 87,000 people. Patwardhan has 25 years of banking experience, with Standard Chartered and Citibank, in regional and global roles in Credit Risk and Operational Risk Management. She is an IBF distinguished fellow, the highest banking accolade in Singapore, and a fellow of Singapore Management. Finextra […]

The post Standard Chartered Innovation Chief Bullish on Bitcoin for Financial Institutions appeared first on Bitcoin Magazine.

This week, bitcoin ATM manufacturer Kointron installed the State of New Jersey’s first bitcoin ATM at the Smoke Shop Jersey City, 2822 Kennedy Blvd. The ATM is located at a popular smoke shop in the second-most populous city in New Jersey. The Kointron team and its founder Michael Singh have decided to launch the company’s first bitcoin ATM at this specific part of the city because other companies have had success in similar locations. The Smoke Shop is located in the Journal Square area of Jersey City, the busiest area of city where the majority of employees, tourists and students visit day-to-day. “We need this for mass adoption, we need this to be as safe, efficient, and quick as possible,” […]

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British multinational banking and financial services company Barclays launched Rise New York, a physical space and virtual global community designed to pioneer the future of financial technology. By the end of 2016, Barclays plans to open other Rise hubs in North America, Europe, Africa and Asia. Barclays’ existing open innovation sites in London and Manchester (previously known as Escalators) will be rebranded as Rise locations. “It is time to redefine financial services,” said Michael Harte, Barclays’ chief operations and technology officer. “Rise is designed to help shape the future of our industry and drive growth. We’re seeking to connect the world’s most active innovators to each other, to corporates, and to resources and support networks. By accelerating the development of […]

The post Barclays Launches Fintech Innovation Hub Rise New York, Other Rise Hubs to Follow appeared first on Bitcoin Magazine.

We recently released the Silicon Valley 100, Business Insider's annual list of the most impressive people working in or influencing the world of tech.

We went through the SV100 list to pull out the most influential, innovative, and all-around inspiring CEOs in Silicon Valley in 2015. 

Scroll down to see who the coolest CEOs in Silicon Valley are right now.

The SV100 list was compiled by Business Insider's technology editors and written by Emmie Martin, Maya Kosoff, and Melissa Stanger. Additional reporting by Tanza Loudenback and Christi Danner. Photo research by Melia Robinson.

SEE ALSO: THE SILICON VALLEY 100: The most amazing and inspiring people in tech right now

WATCH: The coolest 100 people in Silicon Valley in 100 seconds

38. Kavan Seggie

Company: AddLive

AddLive founder and CEO Kavan Seggie writes that he is "passionate about conceptualizing, strategizing, and developing great software products and businesses."

Last May, Snapchat made its first acquisition in AddLive, a real-time communications startup that allows the picture-messaging app to power its video-calling feature. The deal cost Snapchat $30 million. 

AddLive's technology offers several useful tools to Snapchat, including screen-sharing, multiparty conferencing, and support for browser-based video chat via WebRTC.

37. Brit Morin

Company: Brit + Co.

Touted as the "Martha Stewart of Silicon Valley," Brit Morin specializes in the intersection of tech and DIY — and it's lucrative. Morin launched Brit+Co, a lifestyle website that features crafts, fashion, and decor, in 2011, and so far it's raised $27.6 million in funding from investors including Oak Capital, Intel Capital, and Marissa Mayer.

Before diving into her own site, Morin grew her love for the tech world as an employee at Apple and Google, where she worked on iTunes and Google Maps, respectively.

36. Brian Armstrong

Company: Coinbase

Before co-founding Coinbase, CEO Brian Armstrong worked as a software engineer in the fraud prevention department of Airbnb. Today his company is on the rise despite slumping bitcoin prices. Coinbase, a digital wallet used to buy and manage the digital currency raised a $75 million round in January — a record-breaking amount for a bitcoin company at the time. Investors include the New York Stock Exchange, Andreessen Horowitz, and banks USAA and BBVA, and the round supposedly puts Coinbase’s value at $400 million.

With the global economy having spent over US$500 billion spent last year on fees for remittances (i.e. money sent from one country to another) and mostly to low-income households, what if there was a system that could connect all financial services from the likes of Mastercard, Western Union, Visa and banks to dramatically reduce high transaction costs - typically 10% - and cut the transfer time to less than 10 seconds? It’s just a thought.

Getting Bitcoin in the EU could change irrevocably today as the European Court of Justice Advocate General decides on whether to charge value-added tax on the sale of bitcoins or not. While some individual countries such as the United Kingdom have already implemented a strategy regarding Bitcoin, exempting it from VAT and treating it as a foreign currency, the whole EU is subject to the rules being decided on today. The UK also permits businesses to accept any currency they like, although their VAT must be calculated properly in the local, national currency. In this scenario, rather than charge an […]

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An indictment against a Colorado bitcoin trader, Burt Wagner, has been dismissed "without prejudice" by a district court judge.

Scientists at the Chinese Academy of Sciences’ Shanghai Institute for Biological Sciences, led by Li Jinsong, WU Yuxuan of the Institute of Biochemistry and Cell Biology, and YANG Li of CAS-MPG Partner Institute for Computational Biology, have successfully mass produced viable high-quality artificial sperm for the first time.

The post Chinese Bioengineers Develop Artificial Sperm to Create Armies of Half-Cloned Mice appeared first on CCN: Financial Bitcoin & Cryptocurrency News.

As boss of Canary Wharf's Level39, Eric Van der Kleij is one of the most important people in the fintech scene in London — and possibly the world.

"People tell us it’s the biggest space of its kind worldwide," Van der Kleij told Business Insider during a recent visit to Level39, a fintech-dedicated office space. "We’ve not measured so I don’t want to make any claims."

Level39 was set up in 2013 by the Canary Wharf Group to encourage a new generation of finance firms to come to the East London office peninsula — financial technology, or fintech, startups.

"Canary Wharf deserves credit because this is not cheap," says Van de Kleij. "This is a serious long term investment. But I think it’s a good thing because what we want is one of these companies to turn around and say can you build me my new headquarters in Wood Wharf."

Just over 2 years on, the space has broadened out to welcome "smart city" and cybersecurity startups too, and has grown to take over the 42nd floor and the 24th floor of One Canada Square, the later opening just last month. The building can now house a startup from being a 2-man operation up to a 20-plus team.

"They want to eat the banks’ lunch"

There are over 150 businesses in residence, giving Van der Kleij a good overview of what exactly the fintech world is up to.

"We find they fit into two camps," he says. "There’s the camp that wants to help the existing world of financial services to improve, to be more transparent, to provide better customer choice, to lower their costs. And then there are those that want to be the new bank, they want to eat the banks’ lunch. We love both of them."

Van der Kleij is very excited about one particular type of new technology — the blockchain, the software that runs bitcoin.

"The real powerful work being done in fintech is blockchain," he says. "I can tell you now with certainty that every major western bank we’ve spoken to, and some eastern ones, are looking at blockchain technology."

The blockchain creates bitcoins, allows transactions to happen, and creates a public record of all transactions, shared across hundreds of computers. Transactions can't be reversed and are much faster than the current system.

Banks currently have to interact with each others' systems when transferring money between accounts. This can be a slow, cumbersome, and a costly exercise, given how old many of the banks' computer systems are.

But if a secure, transparent, piece of software could automate these types of interbank transfers, it would be vastly quicker and cheaper. Barclays, UBS and Citi are all exploring how it could be used.

There are potential applications beyond payments too — Santander says it has 25 use cases for blockchain technology, while BNP Paribas says the technology could make some companies that hold stock "redundant."

"Very similar dynamics to music"

Van der Kleij calls blockchain "the real frontier" of finance and likens its evolution out of bitcoin to the rise of peer-to-peer technology out of illegal music-sharing website Napster.

He says: "In the world of music you had Napster as the unregulated challenger to the establishment. What they did is prove that technology can enable peer-to-peer file sharing to take place without the establishment controlling it. What that industry did is they wisely embraced that technology to reduce their costs and you now have the iTunes Store, Spotify. That transformed the model of music distribution.

"Who’s the Napster? It is companies involves in open ledger or blockchain technology. Of course its origins came from Bitcoin. Bitcoin is incredibly interesting and very exciting but very challenging for the regulator because of the privacy it affords.

"The challenge is we don’t want this to become the money launder’s weapon of choice, which is what the regulator is worried about. It has very similar dynamics to the world of music."

Level39 residents working on bitcoin and blockchain technologies include CodeStack, BitReserve and Coinjar.

Van der Kleij is confident that, as with music, blockchain technology will mature and enter the mainstream — we'll get our iTunes or Spotify of finance. Not only will blockchain adoption make banking faster and cheaper, he also thinks the blockchain has the potential to make banking safer.

"You know the thing that caused the big problem in the financial crisis?" he asks. "It was these derivative mortgage-backed securities. Cunning people were repackaging different mortgage securities into products. When institutions bought them they had no real way of looking at the underlying assets they were buying because they were so complex. If they were forced to build that on blockchain, an investment manager could press a button and see the truth because of the immutability."

For now though, it's early days for the blockchain.

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Hong Kong-based remittance platform Bitspark is the only bitcoin and blockchain startup to join Accenture's FinTech Innovation accelerator.

Bytecoin (BCN) has issued a new release that its team claims takes the CyrptoNote-based currency closer to its mission. Which is to develop a financial system that provides the same functions as existing financial systems at less cost for users. The new release includes an updated Bytecoin wallet, pool mining, and an added solution for real-time transactions, ensuring that most transactions will process in 120 seconds. Paying invoices, pool mining and accessing block chain data will be available using an integral control center. Additional details about the new release are available on the Bytecoin website. “Our vision was to create […]

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Bitnet has launched a new service which reduces the delays faced by merchants accepting bitcoin as they wait for transactions to be confirmed.

Bitcoin price has declined to support at $285 and failed to break lower. Yesterday's sense that direction was unknown, now sees a potential support floor for advance developing. A few clues in the price chart imply that once the consolidation is over (if not already complete), price may move on $300 again. This analysis is provided by xbt.social with a 3 hour delay. Read the full analysis here. Not a member? Join now and receive a $29 discount using the code CCN29. Bitcoin Price Analysis Time of analysis: 03h48 UTC Bitstamp 15-Minute Chart From the analysis pages of xbt.social, earlier […]

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