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US Justice Department launch criminal probe into Bitcoin price manipulation
The US Justice Department is reported to have opened a criminal probe into whether traders are manipulating the price of Bitcoin and other cryptocurrencies, dramatically ratcheting up US scrutiny of digital currency markets that critics say are rife with misconduct. The investigation is focused on illegal practices that can influence prices — such as spoofing, [...]
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Move over IBM and Mastercard – BofA leads blockchain patent race
Bank of America has applied for or received at least 43 patents for blockchain, the ledger technology used for verifying and recording transactions that’s at the heart of virtual currencies. It is the largest number among major banks and technology companies, according to a study by EnvisionIP. “Based on what’s publicly out there, the technology sector hasn’t [...]
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IMF chief gives serious backing to digital currencies going mainstream
Christine Lagarde, head of the International Monetary Fund (IMF), warned central bankers that digital currencies are rising. Lagarde told them not to discount digital currencies, because they are gaining more adoption and traction. Lagarde addressed this issue in a conference in London, saying digital currencies might give existing currencies “a run for their money.” Global usage of [...]
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EC crack down on virtual currencies and prepaid cards
In an ill advised move, the European Commission is proposing expanding its anti-money-laundering rules to cover virtual currencies and prepaid cards, in a bid to fight terror financing and tax evasion as revealed in the Paris attacks and the Panama Papers disclosures. The proposals from the commission, the EU’s executive arm, also seek to strengthen oversight [...]
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MintChip digital currency acquired by NanoPay
The Royal Canadian Mint’s fledgling digital currency program, MintChip, has been acquired by local startup NanoPay which has plans to commercialize the technology this year. NanoPay, which has developed a mobile payment service it says is similar to Apple Inc.’s “Apple Pay” system, acquired MintChip from the Mint in December for undisclosed terms, NanoPay Chief Executive Laurence Cooke told The [...]
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