Startups that intend to give Bitcoin investors protection from losses arising from hacking and theft have emerged from the phenomenal rise of the digital currency, Bloomberg reported.
Tags: Bitcoin
Bitcoin plunges after marketplace indefinitely halts withdrawals
The price of the digital currency bitcoin slid to its lowest level in nearly two months on Monday after bitcoin digital marketplace Mt. Gox said a halt on withdrawals it announced on Friday would continue indefinitely after it detected "unusual activity."
Russia prohibits use of Bitcoin
The Central Bank of Russia echoed its statement that the Ruble is the country's official currency, and being a money substitute, Bitcoin is now banned because it is reportedly used in illegal activities.
Silk Road operator gets November 3 trial date for online drug case
Alleged Silk Road operator Ross William Ulbricht will have a November 3 trial date after pleading not guilty in a Manhattan federal court, Bloomberg reported.
Florida authorities file criminal charges on three men running illegal businesses involving Bitcoin
State authorities in Florida have arrested and filed charges against three individuals who they alleged were doing illegal operations involving substantial amounts of Bitcoins, Krebs on Security reported.
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iPhone fans aren't too happy that Apple has decided to remove a Bitcoin application called Blockchain from the app store, with some taking extreme action to show their displeasure to Apple, Bloomberg reported.
Tokyo, Japan-based Bitcoin exchange Mt Gox announced on its site that it temporarily halted Bitcoin withdrawals to resolve a technical problem that arose from the increased withdrawal traffic.
Tech giant Apple has cleared the App Store of all Bitcoin mobile wallet apps by pulling Blockchain from the store on Wednesday without a clear explanation for the move, but retained other non-wallet Bitcoin apps in the said store.
The hearing held by New York State banking regulator Benjamin M. Lawsky points to more regulation in Bitcoin's future, The New York Times The Dealbook reported.
BTC China, the biggest bitcoin exchange in the world, has begun allowing users to buy the digital currency using Chinese yuan again, just a month after it halted renmibi deposits because of a bank warning.
Bitcoin' chances to get recognition as a legal form of money or payment has been slimmed down again when a top foreign currency in Sweden, SEB AB, denied its clients' requests to open accounts in the bank to manage Bitcoins the latter owned.
Charlie Shrem and Robert Faiella, both executives of New York-based Bitcoin exchange business BitInstant, were arrested for money laundering in connection to the illegal drug transactions on an online black market, according to the Manhattan US attorney.
Despite the limitations experienced by the Bitcoin and other crypto-currencies, HP security and payments expert Slava Gomzin sees the digital currencies making its way to more brick-and-mortar stores.
Computer and computer-related products retailer TigerDirect has partnered with BitPay to accept Bitcoin as a form of payment for online purchases, a Tom's Hardware report said.
