Security Breach for UK Bitcoin Vendor Exposes Customer Data

CoinCut, a bitcoin vendor based in the UK, recently suffered a security breach that exposed customer information. Visitors on the company’s website could view customer data that included images of passports, IDs, and credit cards. Since then the site has been offline while the company works with authorities to investigate the matter. “We’re trying to […]

Podcast Episode 14: Zero Confirmation Bitcoin Transactions with Josh Cincinnati

This episode features Josh Cincinnati, the developer advocate for BlockCypher, a block chain solutions firm. BlockCypher serves ShapeShift.io and their “Confidence Factor” is the reason that ShapeShift is able to process transactions with as little as zero confirmations. Recently this backfired, but Cincinnati says this is to be expected — it is mitigation, not elimination. […]

Nocks: A Multi-Featured Bitcoin Payments Platform

There are already plenty of bitcoin payments platforms in existence and Nocks seeks to differentiate itself from the rest by introducing an agile and multi-featured aspect. Dutch entrepreneurs Roel Buerra and Patrick Kivits wanted to come up with a platform that was intuitive to learn and friendly to novices. Nocks is a tool that lets users […]

Canadian Revenue Agency: Bitcoin Considered as Foreign Fund or Property for Taxes

The Canadian Revenue Agency recently stated in section 233.3 of the Income Tax Act that bitcoin and other digital currencies are considered “specific foreign properties” and are to be treated as foreign funds or intangible properties. The rules of the Income Tax Act document states that foreign properties including bitcoin that exceeds the value of […]

San Francisco Federal Reserve Director Warns Community Banks about Bitcoin Risks

Wallace Young, the director of the Federal Reserve Bank of San Francisco, has published an article suggesting community banks should be cautious about Bitcoin firms and consumers. He also pointed out the digital currency’s pros and cons. “Caution is appropriate,” Young said. “Bankers should carefully weigh the pros and cons of extending any loan secured […]

BNP Paribas Testing Plans to Add Bitcoin to its Currency Funds

France’s biggest bank BNP Paribas is reportedly testing the idea of adding bitcoin to one of its currency funds, a source at the bank told International Business Times UK. The unnamed source said that BNP Paribas has been doing “beta testing” involving cryptocurrency, and the official announcement could come in the near future. A spokeswoman for BNP Paribas […]

NewsBTC Announces Expansion into Central American Region

Popular Bitcoin news and analysis platform NewsBTC.com has announced expansion into Central America, a territory which consists of seven countries: Belize, Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua, and Panama. The announcement has surfaced as the part of NewsBTC’s global expansion plans, a step that enables it to become a multilingual Bitcoin news platform. The […]

DigitalBTC Buys $10.1M in Bitcoin While Running Loss of $1.2M

In this year’s second quarterly report, Australian firm DigitalBTC says that it has put up $1.2 million in losses, bringing the total losses for the year to $2,744,000. Despite this, the company has purchased a total of over $29.6 million in bitcoins this year, with $10,116,000 of that being in this quarter. The bitcoins are […]