Bitcoin | Comsure
Wednesday 26th November 2014
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Comsure operates in:the UK, Jersey, Guernsey

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Cryptocurrency News: NSA ‘Outlined Bitcoin-Like System’ and 70% of Bitcoins Unspent.

The price of bitcoin has seen a resurgence over the weekend following 10 days of steadily tumbling prices. Most other major cryptocurrencies have seen a similar upturn in fortunes, with litecoin, dogecoin, peercoin and darkcoin all rising in price by between 3% and 6%. The biggest mover across all markets was fedoracoin. The cryptocurrency, based [...]

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THE BIG PROBLEM WITH BITCOIN REGULATIONS

For the most part, we can all agree that a level of regulation plays an important role in consumer protection. Just as we expect stock exchanges and banks to be regulated, so, too, should virtual currency exchanges and centralized companies that store large balances on behalf of consumers, be regulated. This should help prevent situations [...]

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“PIRATE@40″ ARRESTED FOR BITCOIN PONZI SCAM

NOVEMEBER 2014, Trendon Shavers, aka “Pirate@40,” was arrested on securities fraud and wire fraud charges stemming from his involvement in a Bitcoin-related Ponzi scheme*. Shavers was the founder and operator of Bitcoin Savings and Trust (BCS&T), which offered and sold Bitcoin-based investments through the Internet. In total, Shavers raised at least 764,000 Bitcoin in BCS&T [...]

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HOW TO PROTECT YOUR BITCOIN BUSINESS FROM REGULATORS

Mike Gropp is the co-founder of the BitBays Bitcoin exchange and is in charge of the company’s compliance to the ever-changing landscape of cryptocurrency law.  After working in the financial sector in California, Mike moved to Beijing in 2010 where he launched his own corporate training company focusing on sales, professional speaking, and negotiations.  While [...]

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Canada: The Regulation Of Virtual Currencies In Canada

Canada is engaged in an important effort to reform its payment system. In recent years, there have been important legislative measures to enhance the payment system including the adoption of the Payment, Clearing and Settlement Act, and the Payment Card Network  Act. There was the appointment of an expert task force (the “Task Force”) that [...]

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Bitcoin heist diverts net traffic.

More than $83,000 (£50,000) in virtual cash has been stolen by a thief who managed to hijack net traffic from 19 separate ISPs, say security experts. The hijacked data was involved in the “mining pools” that generate virtual cash and keep track of who spent what. The thief directed the results of the mining and [...]

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Jersey Breaking Ground On Bitcoin, Clarifies Tax Rules

Jersey has become the first jurisdiction in the world to successfully establish a regulator-approved Bitcoin investment fund, and has set out rules on the taxation of cryptocurrencies. The open-ended fund is due to launch on August 1, 2014. Jersey’s Comptroller of Taxes has stated that Jersey’s income tax provisions on foreign exchange activities will apply [...]

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Europe eyes AML & CTF controls for bitcoin.

Bitcoin-friendly businesses that were eyeing European locations as regulation-free environments for virtual currencies may need to reconsider as AML – CTF and related KYC (CDD) concerns are at the fore there as well as in the U.S. On Friday, the European Banking Authority (EBA) published an opinion recommending both that banks avoid most bitcoin-friendly customers [...]

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