In her testimony before the Senate Banking Committee, Federal Reserve Chair Janet Yellen said that the Fed does not possess any authority to supervise the Bitcoin, The Wall Street Journal blog MoneyBeat reported.
Industry
Japan to frame bitcoin rules after Mt. Gox collapse
Japan will be setting out rules this week on how it would treat bitcoin under its existing rules. This is seen as the country's first step in dealing with the digital currency after the closure of Mt. Gox, Reuters reported.
Warburg-Pincus Senior Adviser Bill Janeway says venture capital industry is contracting
"The venture capital industry as an industry is contracting." This is what Warburg-Pincus Senior Adviser and tech investor Bill Janeway told Forbes Contributor Igor Stenmark in an interview.
New Zealand Venture Investment Fund CEO crowdfunding rule change good for startups
New Zealand Venture Investment Fund Chief Executive Officer Franceska Banga thinks that the rule change permitting equity crowdfunding in New Zealand is a positive development, Fairfax NZ News reported.
Israel-based XLMedia seeks to raise $40M in gaming float
XLMedia, the digital media firm that brings traffic for online gaming sites, intends to secure $40 million in a London stock market flotation, the Financial Times reported.
Latest News
Private equity fund managers are employing approaches other than traditional buyouts so they can avoid overpaying for Western companies as competition pushes valuations higher, Reuters reported.
After years of putting young firms at the backseat, more corporations are now financing early stage startups in the technology space through accelerator programs, TechCrunch reported.
Alternative lenders are filling in the shoes of commercial banks in Europe that have reduced lending, allowing small firms to still raise funds, Bloomberg reported.
Investors of large consumer food companies want them to take bolder action than just merely cutting costs as their smaller competitors take on risks and increase market share, Reuters reported.
The potential use of big data by insurance firms to create a profile of possible policyholders carries with it advantages and drawbacks, the Financial Times reported.
Last year was a sleepy one for mergers and acquisitions in the metals sector with only 357 metal deals completed compared to the 507 deals from the previous year, the Financial Times reported citing figures released by PwC.
Limiting conditions like poor infrastructure and the lack of convenient payment systems have not prevented the e-commerce industry from burgeoning in Indonesia, the Financial Times reported.
The behavior of users is the biggest risk factor for mobile threats, according to a report from mobile security firm Lookout entitled "Mobile Threats, Made to Measure," VentureBeat reported.
In response to a petition filed on the online platform WeThePeople, the White House reaffirmed its backing for net neutrality in an official blog post written by Gene Sperling and Todd Park.
