The shuttering of Mt. Gox did not only showcase the dangers of the crytocurrency, it also unnerved the more nascent Bitcoin derivatives market, Bloomberg reported.
Legal & Regulatory
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.
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.
Britain to ditch tax on Bitcoin trading
As opposed to the move that other countries are taking, the British government is planning to ditch the tax levied on Bitcoin trading, but the cryptocurrency will still be subjected to corporation and other taxes.
Mt. Gox issues new statement on website
Mt. Gox has posted a new statement which shed more light on the company's financial situation and validated the contents of a document leaked earlier, TechCrunch reported.
Latest News
Russia fund United Capital Partners said it will be suing two shareholders of the social network Vkontakte, Mail.ru Group and Ivan Tavrin, East-West Digital News reported.
A Mannheim court dismissed the $2.2 billion lawsuit filed against it by patent holding firm IPCom in Germany on one of the "100" series patents the latter acquired from Robert Bosch GmBH, Bloomberg reported.
After shuttering its operations this week, Tokyo-based Bitcoin exchange Mt. Gox told reporters that it will be seeking bankruptcy protection, The Wall Street Journal reported.
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.
Some states have already undertaken measures to ban drivers from using Google Glass even if the search giant's wearable device innovation is still in its experimental stage, Bloomberg reported.
U.S. District Judge Jeffrey White dismissed the lawsuit filed against San Francisco, California-based social game maker Zynga in which shareholders accused the company of lying about its financial status before it went public.
Mt. Gox, once the world's biggest bitcoin exchange, went dark on Tuesday, with its website down, its Tokyo office empty, and a cryptic comment from its chief executive that the business was at "a turning point."
Goldman Sachs and Credit Suisse were hired by Chinese Internet firm Sina to take care of the debut of its microblogging platform Weibo in New York, according to sources interviewed by the Financial Times.
The top smartphone makers in the world, Apple Inc and Samsung Electronics, failed to reach a settlement agreement on their smartphone technology dispute in a meeting with a mediator in the first week of February, Bloomberg reported.
