Illinois Social Media Law: #Bitcoin

Showing posts with label #Bitcoin. Show all posts

Monday, April 07, 2014

Regulation of Bitcoin is up for grabs

Any number of federal agencies could claim jurisdiction over the virtual currency.

Jenna Greene, The National Law Journal

April 07, 2014 |0 Comments

A man poses for a photograph with a mock Bitcoin outside the ANXBTC store in Hong Kong, China.

Following a series of multimillion-dollar thefts and losses, federal regulators want to step up their oversight of virtual currency bitcoin. But bitcoin — a nationless digital money that uses cryptography to control its creation and transactions — doesn't fit neatly in any regulatory box.

"There's an incredible interest in regulating this at the federal level," said Kenneth Russak, a commercial-finance specialist at Frandzel Robins Bloom & Csato.

Tuesday, March 25, 2014

MT. GOX HIT WITH CLASS ACTION LAWSUIT OVER $400 MILLION BITCOIN LOSS

By Andrew Couts — February 28, 2014

Mark Karpeles, CEO of Mt. Gox

It was only a matter of time.

An Illinois man has filed a class action lawsuit against Mt. Gox, once the world’s largest Bitcoin exchange, for its loss of approximately 750,000 Bitcoins – about 6 percent of all Biticoins currently in circulation. The lost Bitcoins, which the company claims were stolen, hold a current value of more than $400 million.

The 32-page legal complaint, filed Thursday by Gregory Greene in the U.S. District Court in Chicago, accuses Mt. Gox and its CEO Mark Karpeles of consumer fraud and negligence for failing to provide the necessary security to prevent theft of Mt. Gox’s Bitcoin reserves. The suit also claims Mt. Gox and Karpeles are guilty of breach of fiduciary duty, breach of contract, and unjust enrichment.

Karpeles did not respond to our request for comment.

http://www.digitaltrends.com/cool-tech/mt-gox-hit-class-action-lawsuit/#!Blt0s

Wednesday, March 05, 2014

Bitcoin firm CEO found dead in suspected suicide

It appears bitcoin’s recent turmoil has claimed its first life.

Autumn Ratke a 28-year-old American CEO of bitcoin exchange firm First Meta

was found dead in her Singapore apartment on Feb. 28.

Local media are calling it a suicide, but Singapore officials are waiting for toxicology test results. Ratke formerly worked with Apple and other Silicon Valley tech firms on developing digital payment systems.

http://www.foxnews.com/tech/2014/03/05/bitcoin-firm-ceo-found-dead-in-suspected-suicide/?intcmp=obnetwork

Friday, February 07, 2014

Russia Bans Bitcoin

Romain Dillet (@romaindillet

Russia doesn’t do things by halves — Bitcoin can no longer be used by individuals and legal entities anymore. If you have a Bitcoin wallet on your computer, you are now breaking the law. The Central Bank of Russia reiterated that the official currency is the Ruble, and that it considers Bitcoin a money substitute. That’s why the cryptocurrency is now banned.

http://techcrunch.com/2014/02/07/russia-bans-bitcoin/?utm_campaign=sfgplus&%3Fncid=sfgplus

Friday Roundup: Bitcoin, Silk Road and Apple E-Books

By Gabriella Khorasanee, JD on February 7, 2014 8:59 AM

Technology can't seem to stop stepping on the law's toes. Today we have a roundup of tech-legal news that just won't stop featuring some usual suspects: Bitcoin, Silk Road and Apple. Read on for the full report:

Continue reading Friday Roundup: Bitcoin, Silk Road and Apple E-Books.

http://blogs.findlaw.com/technologist/

Bitcoin Rally Spawns Startups Offering Theft Protection: Tech

By Olga Kharif

Bitcoins, after surging 90-fold in value last year, have become an alluring target for hackers and thieves, spawning a growing industry of startups seeking to protect virtual currency investors against losses.

Since the inception of the currency, more than 35 major Bitcoin scams and thefts have occurred worldwide, including the heist of 38,527 Bitcoins from online-exchange Bitcoinica LLC in May 2012, according to BitcoinTalk.org.

http://www.bloomberg.com/news/2014-02-07/bitcoin-rally-spawns-startups-offering-theft-protection-tech.html

Tuesday, February 04, 2014

Federal Prosecutors Unseal Charges Against Bitcoin Exchange Company

Sunday, January 26, 2014

Bitcoin Accepted Here

Earlier this week, employees at Google indicated that the tech giant was exploring ways of incorporating Bitcoin into its products (see here and here).

Does that mean that Bitcoin is coming of age? Time will tell. But in the meantime, here’s what experts writing on JD Supra are saying about Bitcoin and other virtual currencies:

Insurance Coverage Available For Bitcoin Deposits – Devil Is In The Details - Eric Barber of Perkins Coie
Bitcoins: More Guidance From The CRA - Timothy Fitzsimmons of Dentons
Bitcoin - Big Bounce Back - Part Six - David Richardson and Alesya Tepikina of Dorsey & Whitney
Bitcoin Goes Mainstream - David Deitch of the Ifrah Law Firm
Sacramento Kings Announce They Will Be The First Pro Sports Franchise To Accept Bitcoin - James Gatto and Amy Pierce of Pillsbury
Gold Digger - Brent Lorentz of Winthrop & Weinstine
Singapore Issues Bitcoin Tax Guidance - Julian Zou of Pillsbury
Taxation of Virtual Currencies – James Gatto of Pillsbury
New York Department of Financial Services To Hold Hearings on Virtual Currencies - Goodwin Procter
Virtual Currency Year-In-Review: Bitcoin and Beyond - Peter Luce and Vincent Wang of Davis Wright Tremaine
Does Bitcoin Violate the Stamp Payments Act? - James Gatto of Pillsbury

—-

Read more on Virtual Currency at JD Supra Business Advisor»

http://buzz.jdsupra.com/

REAL ISLAM !!!

And slay them wherever you come upon them, and expel them from where they expelled you; persecution is more grievous than slaying. But fight them not by the Holy Mosque until they should fight you there; then, if they fight you, slay them — such is the recompense of unbelievers, but if they give over, surely Allah is All-forgiving, All-compassionate. Fight them, till there is no persecution and the religion is Allah’s; then if they give over, there shall be no enmity save for evildoers. (Quran 2:191-193)

Men are the managers of the affairs of women for that Allah has preferred in bounty one of them over another, and for that they have expended of their property. Righteous women are therefore obedient, guarding the secret for Allah’s guarding. And those you fear may be rebellious admonish; banish them to their couches, and beat them. (Quran 4:34)

They wish that you should disbelieve as they disbelieve, and then you would be equal; therefore take not to yourselves friends of them, until they emigrate in the way of Allah; then, if they turn their backs, take them, and slay them wherever you find them; take not to yourselves any one of them as friend or helper. (Quran 4:89)

This is the recompense of those who fight against Allah and His Messenger, and hasten about the earth, to do corruption there: they shall be slaughtered, or crucified, or their hands and feet shall alternately be struck off; or they shall be banished from the land. That is a degradation for them in this world; and in the world to come awaits them a mighty chastisement. (Quran 5:33)

When thy Lord was revealing to the angels, ˜I am with you; so confirm the believers. I shall cast into the unbelievers’ hearts terror; so smite above the necks, and smite every finger of them! (Quran 8:12)

Make ready for them whatever force and strings of horses you can, to strike terror in the enemy of Allah and your enemy, and others besides them that you know not; Allah knows them. And whatsoever you expend in the way of Allah shall be repaid you in full; you will not be wronged. (Quran 8:60)

Then, when the sacred months are drawn away, slay the idolaters wherever you find them, and take them, and confine them, and lie in wait for them at every place of ambush. But if they repent, and perform the prayer, and pay the alms, then let them go their way; Allah is All-forgiving, All-compassionate. (Quran 9:5)

Fight those who believe not in Allah and the Last Day and do not forbid what Allah and His Messenger have forbidden — such men as practise not the religion of truth, being of those who have been given the Book — until they pay the tribute out of hand and have been humbled. (Quran 9:29)

Allah has bought from the believers their selves and their possessions against the gift of Paradise; they fight in the way of Allah; they kill, and are killed; that is a promise binding upon Allah in the Torah, and the Gospel, and the Koran; and who fulfils his covenant truer than Allah? So rejoice in the bargain you have made with Him; that is the mighty triumph. (Quran 9:111)

O believers, fight the unbelievers who are near to you; and let them find in you a harshness; and know that Allah is with the godfearing. (Quran 9:123)

When you meet the unbelievers, smite their necks, then, when you have made wide slaughter among them, tie fast the bonds; then set them free, either by grace or ransom, till the war lays down its loads. So it shall be; and if Allah had willed, He would have avenged Himself upon them; but that He may try some of you by means of others. And those who are slain in the way of Allah, He will not send their works astray. (Quran 47:4)

Vote Trump 2016 !