Tag Archives: cryptocurrency

Are Bitcoins legal in your country? Here’s Forbes’ comprehensive list of national stances.

world-map

Forbes’ Kashmir Hill has comprised a list of countries and their tentative stances on Bitcoins. All of the major players appear here

The list can be found here: link to Forbes

Here are a few highlights:

  • Japan: Despite being the home for years to the long-time monster exchange of Bitcoin, Mt. Gox, Japan is silent on the issue.
  • New Zealand: Kiwis are all good with Bitcoin as long as it is not turned into a physical note or coin.
  • Nicaragua: American banker, Greg Simon, recently bought a 1,200-square-meter plot of land in San Juán del Sur, one of the most important tourist areas in Nicaragua, for 80 bitcoins, currently the equivalent of about US$72,000.”
  • Russia: Using it to buy things there could be illegal given that the Russian ruble is the exclusive means of payment in the Russian Federation per the law.
  • Taiwan: Has cautioned investors and businesses away from Bitcoin.
  • China: While people there are free to buy and sell it, financial institutions have been warned away.
  • Germany: Has rules for Bitcoin, treating it like a foreign currency
  • Argentina: Although bitcoins are not specifically regulated, they are increasingly being used in Argentina.”
  • U.S.A.: Bitcoin’s future is currently being debated.
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Maine State Senate Candidate Eric Brakey accepts bitcoin campaign contributions

Maine State Senate Candidate Eric Brakey wants to see bitcoin go mainstream. He made the announcement that his campaign will begin accepting bitcoins at the Bitcoin Center NYC, stating “If you’re interested in helping Bitcoin go mainstream, and making sure that politicians aren’t going to write laws against digital currencies, there’s no better way then to start donating to their campaigns.”

FBI to Sell Silk Road stash, but not Ulbrights personal bitcoins

Silk_Road_Seized

The United States Attorney for the Southern District of New York announced today that they will sell about $28 million dollars worth of bitcoins (29,655 bitcoins in total), which they seized from the Silk Road in Sept 2013, an action which further legitimizes the currency.  There is no word yet on what will happen to the bitcoins seized from the personal wallets of Ross Ulbricht, AKA Dread Pirate Robert the second, the man who was running Silk Road when it was raided by the FBI.  This could mean one of two things.  The official statement released by the United States Attorney for the Southern District of New York states that “Ulbricht has filed a claim in the civil forfeiture action, asserting that he is the owner of the Bitcoins found on his computer hardware, and contesting the forfeiture of those Bitcoins.”  However, it’s possible that the FBI just doesn’t have access to Ulbrichts personal hoard.  If Ulbricht was practicing good security measures and either memorized his private keys or printed them out and hid them without ever keeping the private keys on an internet connected computer, the FBI would have no way of accessing his bitcoins.

Read the official release here:

http://www.justice.gov/usao/nys/pressreleases/January14/SilkRoadForfeiture.php

BOND New York becomes the 2nd NY real Estate Agency to Accept Bitcoin

BOND New York annouced that they will accept bitcoins from customers, following Bapple, which began accepting Bitcoins late last year.  A representative of the agency stated “We are accepting Bitcoin as a service to our customers who prefer to use the digital currency as a matter of convenience. We are always looking for ways to serve our customers through technological advancement, in addition we have agents who would like to be paid in bitcoins if their customer pays us in bitcoins.”

Other real estate on the market which can be purchased or rented for Bitcoin includes this mansion in Vegas, this house in the hamptons, and this house in Perth Australia.

Zynga to accept Bitcoin

farmville2

Social media gaming company Zynga has announced that they will be accepting Bitcoin in some of their games, stating “In response to Bitcoin’s rise in popularity around the world, Zynga, with help from BitPay, is testing expanded payment options for players to make in-game purchases using Bitcoin. The Bitcoin test is only available to Zynga.com players playing FarmVille 2, CastleVille, ChefVille, CoasterVille, Hidden Chronicles, Hidden Shadows and CityVille.”

Read the full announcement on Reddit: http://www.reddit.com/r/Bitcoin/comments/1udclz/zynga_launches_bitcoin_test_with_bitpay/

Taiwanese E-Commerce company will accept Bitcoins in Early 2014

Taiwanese E-Commerce company will accept Bitcoins in Early 2014

Wayi International Digital Entertainment will begin accepting Bitcoins in 2014 to profit from the regulations surrounding Bitcoin in China, under the assumption that the inability for Bitcoin holders to profit from the growth of the currency will lead them to spend it instead. They then plan on becoming Taiwans primary Bitcoin exchange.  Although Chinas regulations and statements against the value of cryptocurrencies caused the price of Bitcoin to drop significantly, these actions could help to stabilize the currency, making it more attractive to long term investors by discouraging short term speculation and incentivising bitcoin holders to buy and sell goods using the currency.

Read More: http://www.taiwannews.com.tw/etn/news_content.php?id=2365839