A New York Congresswoman has taken a leading role as a proponent of bitcoin, especially as a benefit to small businesses and their customers. It’s a refreshing perspective from a smart politician, bitcoiners say.
A report from the security company Trend Micro reveals that two apps contain code to mine bitcoin, as well as dogecoin and litecoin, the two popular altcoins. The apps combined have more than one million installs.
It’s time again for China to drop a big anti-bitcoin announcement and traders in the cryptocurrency selling off on the news. And, as in previous occasions, it’s hard to know exactly what China means, or if it’s all trumped up.
Basically, if you use bitcoin as you do mainstream currencies, taxes apply the same way. Making or receiving bitcoin payments are subject to the same information reporting requirements.
The Japan-based bitcoin exchange, mired in bankruptcy and class-action lawsuits, said in a press release that it found an “old-format” bitcoin wallet containing nearly 200,000 coins. That’s about $115 million as of this writing.
His more complete denial contains interesting facts. He said he hadn’t even heard of the term bitcoin until his son mentioned it last month after the son had been contacted by the reporter working on the Newsweek story.
Miners of bitcoin and altcoins such as litecoin and dogecoin buy needed components from TigerDirect, Newegg and Amazon, although the latter two companies have not embraced bitcoin.
The latest twist in the U.S. regulatory path for bitcoin could put the cryptocurrency and its
followers, altcoins, in the hands of the independent U.S. agency that oversees futures and
futures options on such commodities as crude oil, coffee, wheat and gold.
The biggest takeaway, however, is that Goldman — and many of the other biggest financial firms on Wall Street — recognize the potential behind the technology driving the bitcoin ecosystem.
Benjamin M. Lawsky, New York’s top financial services regulator, Tuesday let it be known officially that bitcoin exchanges can file their proposals with the state of New York in anticipation of finalized regulations by the end of the second quarter of 2014.