Happy Two-Thirds Day!
Today the Bitcoin protocol issued its 14 millionth bitcoin – 7 million more to go!
For daily updates and breaking news, follow us on Twitter @BoringBitcoin, and Facebook: Boring Bitcoin Report.
Click on the headlines below for links to the full story.
The Economist: Benjamin Lawsky “Shock Therapy” A State Regulatory Generates Controversy
Last week The Economist published a feature article on New York Department of Financial Services Superintendent Ben Lawsky, calling him a “controversial figure.” While the Bitcoin community knows Lawsky as the first state regulator to publish a comprehensive proposal to regulate virtual currencies, the traditional foreign financial services firms “are looking for ways to minimize their business in New York” because “they have been hit particularly hard because they lack domestic political advocates.” In the past 3.5 years, DFS has levied over $5.3 billion in fines from financial institutions.
Trendon Shavers Pleads Not Guilty To NY Fraud Charges
The operator of virtual hedge fund Bitcoin Savings and Trust, Trendon Shavers, has pled not guilty to charges of securities and wire fraud. Shavers was arrested in November and accused of running a bitcoin ponzi scheme promising outrageous returns on investments and stealing an estimated 764,000 BTC from investors. Shavers was already fined $40.7 million in 2014 from a US District Court in Texas in another case brought forward by the SEC.
Factom Software Sale Launches Today
Factom is a blockchain infrastructure software play that is looking to change the way businesses and governments manage their data and keep records. Factom was founded by David Johnston, Paul Snow and Peter Kirby and backed by investors including DApps Fund and Tally Capital.
Estonian LHV Bank Partners With Bitcoin Exchange CoinFloor
Estonia-based LHV Bank “the most pro-Bitcoin bank in Europe” has partnered with UK-based Bitcoin exchange CoinFloor to handle user deposits. LHV is also the bank behind Coinbase’s Europe expansion into 13 new countries. The UK has been working to draw digital currency business into their jurisdiction. Given the financial access challenges bitcoin business face in the US, this will likely be a draw for start-ups to establish operations in the UK.
Credit Suisse Publishes Paper on Bitcoin
Credit Suisse has joined the Bank of England and Goldman Sachs by releasing a positive paper on bitcoin’s impact on the financial industry. In the report, Credit Suisse analyst Jonathan Horlacher states bitcoin’s low transaction rates and easy remittance method make it a legitimate currency but also argues that bitcoin’s greatest strength and weakness is its decentralization.
Coinigy Raises $100K in Seed Funding
Milwaukee-based trading platform Coinigy has raised $100,000 in seed funding. The funds will be used to improve its existing trading platform as well as to develop a new universal API that will allow users to access data from 24 different bitcoin exchanges to give users an integral insight into digital currency markets.
Bitcoin Exchange Bitt to Bring Digital Currencies to the Caribbean
Bitt is set to become the Caribbean’s first bitcoin exchange on its opening day, March 30. It is poised to serve the 60% of Caribbeans who are unbanked or under-banked. Bitt will also offer “core services” such as digital wallets, remittance services and an e-commerce merchant payment system.
Bitpay Partners with NETELLER to Expand Global Transactions
Bitcoin payment processor Bitpay has partnered with NETELLER, owned Optimal Payments, by enabling their global network to accept bitcoin. The partnership will allow the prepaid cards to be loaded with bitcoin, saving the user up to 5%.
Forbes Author: Regulation on the Way for Bitcoin Industry
Bitcoin regulation has long been a topic of discussion as more bitcoin exchanges have opened such as Coinbase, Bitstamp, Bitfinex and BTCChina, with different levels of regulation. Tyler Winklevoss told Fortune that 2015 will be “the infrastructure year” for bitcoin in America and “establishing regulated exchanges is crucial to that infrastructure.”
Rivetz and Factom Add Device-Level Security to Blockchain Ecosystem
Technology security firm Rivetz and blockchain technology company Factom are partnering to take security and privacy to “new levels” for their respective applications. The collaboration will use “Rivetz’s Trusted Execution model for the secure protection and processing of data and collection of user intent with Factom’s data layer on the blockchain to provide organizations in the financial, manufacturing, distribution and wholesale industries with the efficient means of verifying processes and registering data.”
Boring Bitcoin Calendar
Inside Bitcoins – New York
April 27-29, 2015, New York, NY
Inside Bitcoins will be returning to New York on April 27-29 at the Javits Convention Center. The program will cover topics including bitcoin 2.0, blockchain-based startups, institutional investing, multi-sig wallets, risk mitigation, compliance, banking and fundraising, and more. Keynotes have been confirmed from Dan Morehead, CEO, Pantera Capital and Chairman, Bitstamp; Brian Kelly, Contributor, CNBC’s Fast Money and Founder & Managing Member of Brian Kelly Capital LLC; and Perianne Boring, Founder and President, Chamber of Digital Commerce. Get 10% OFF with the discount code CHAMBER. Register at insidebitcoins.com/new-york.
Virtual Currency Today Summit
April 29, 2015, Boston, MA
“Bitcoin and Beyond: The Next Disruptor in Payments.” The Virtual Currency Today Summit will be held at the Hilton Boston Back Bay and will look at the many factors that will shape the adoption and growth of Bitcoin and other similar currencies. Expert panelists will offer insights on how market stakeholders can push through barriers to embrace digital currency as the next generation of payments and transaction solutions, which will ultimately change the end-user customer experience.
Tweet of the Week
Ex-federal agents accused of stealing Bitcoin during Silk Road probe. http://t.co/qGi2cvGRXw.
— CNN Breaking News (@cnnbrk) March 30, 2015
Pic of the Week
Quote of the Week
Bitt co-founder Gabriel Abed, to Caribbean news outlet Guardian:
“We are riding a technology wave with finance that is cutting costs, making it faster, making it cheaper, making it possible for people outside of the banking systems to control their money using their mobile phones.”