Betr Coin CEO facing charges for cryptocurrency fraud

Since the introduction of Bitcoin more than five years ago, the worldwide cryptocurrency market has grown at a breakneck pace. At this moment, investors, gamblers, and futurists can take their pick from dozens digital currencies and tokens. Unfortunately, not all of these out-of-the-box coinages are on the up and up. This is a lesson that…

$530 Million Bitcoin Heist Leaves Investors Holding the Bag

Coincheck, a Japan-based cryptocurrency exchange, is reeling after being hit by hackers who looted $530 million worth of bitcoin from 260,000 site users. The electronic heist is the largest known grab of electronic cash on record and is sending shock waves through the bitcoin world. Word of the heist emerged this weekend and was reported…

US Lawmakers Considering Bitcoin Declaration Bill for Travelers

Travelers visiting the United States have long had to declare any cash they’re carrying over $10,000 to immigration officials upon arrival on American shores. If a new Bitcoin bill proposed by Congress passes into law those travellers would have to declare their Bitcoin assets, too. The proposed law (US Bill S.1241) was introduced by GOP…

Bitcoin Report: Hedge Funds Snapping Up Mt. Gox Customer Claims

International hedge fund operators are snapping up claims from former customers of the now defunct bitcoin exchange, Mt. Gox. The story was broken by reporters at the Financial Times (subscription required) who relied on their own sources at unnamed international hedge funds. The current offer being floated is 15 percent of the claims value in…

Bitcoin Prices Drop 20 Percent in Overnight Trading

Bitcoin prices fell more than 20 percent on Thursday, falling from $1071 (all values USD) to $893 in just a few hours. The big drop was believed to have been mostly triggered by the growing strength of the Chinese Yuan. Trading prices for the digital currency have skyrocketing over the past few months and recently…

IRS Pushes for More Info About Bitcoin Users, Bitcoin Users Fight Back

Bitcoin users are a notoriously private bunch and that's a notion that doesn't sit well with the tax collectors at the US Internal Revenue Service (IRS). Of course giving up any of their hard won privacy isn't a notion that sits well with Bitcoin users, and that's setting up a major legal battle over how…

Trump Fallout on iGaming: Bitcoin Spike and Big Payouts for Trump Punters

It's the shock heard round the world as the igaming industry instantly reacted Donald Trump's stunning victory in the US Presidential election. Shortly after the final results were tallied, Bitcoin prices surged to the highest rates in months; and operators are feeling the burn as they hand out cash to pro-Trump punters. Bitcoin Spikes Political…

Judge Rules That Bitcoin is Real Money for Legal Purposes

Bitcoin is, indeed, a legitimate form of money. That's the word that came down from U.S. District Judge Alison Nathan who sits on a federal court in Manhattan. While word of Bitcoin's legal legitimacy likely comes as good news to fans of the crypto-currency, it's bad news for Anthony Murgio. Murgio is the defendant in…

Hackers Snatch $65 Million in Bitcoin from Hong Kong BTC Exchange

The bitcoin world is in an uproar this week after hackers made off with $65 million worth of the crypto-currency. The unprecedented heist sparked a massive plunge in bitcoin prices as bitcoin enthusiasts scrambled to understand what had happened. According to a report on Bloomberg.com, the hack took place sometime Tuesday at Bitfinix, a Hong…

Florida Judge Rules Bitcoin is Not Money

A Florida man accused of money laundering is a free man today after a Miami judge ruled the Bitcoins used in the alleged transaction aren't actually money. The case is a milestone in Bitcoin litigation and has been closely watched by the Bitcoin community. At issue is whether a Bitcoin dealer named Michell Abner Espinoza…