The US Department of Justice and the Securities and Exchange Commission said bitcoins offer legitimate financial services. The regulators said the digital currency offered various benefits and risks.
Legal & Regulatory
Bitcoin gains momentum in market, reaches USD700 as US Senate discusses regulation
As the value of the Bitcoin reached a landmark USD700 valuation, The US Senate committee held a hearing with experts, lobbyists and federal regulators to discuss about the potential threats, risks and benefits of virtual currency.
India denies Reserve Bank of India's request for exemption from Competition Act
A request by the central bank of India to be given exemption from the provisions in Section 54 of the Competition Act, which seeks to regulate bank mergers within a certain period, India's Ministry of Corporate Affairs rejected such request.
OneWest Bank intends to pay USD 1 billion dividend to investors ahead of IPO- sources
OneWest Bank is planning a dividend payout of USD 1 billion to its investors before it holds an initial public offering next year, according to sources who have knowledge of the matter.
Bitcoin records a new high, soars past USD600
An analyst said that the involvement of Bitcoin in the Silk Road online marketplace scandal provided enough boost for the digital currency to receive support from the market, and even US government agencies, as an accepted investment and payment technology solution.
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According to a lawsuit filed by wireless communications firm LightSquared Inc, Dish Network Corp and its chairman, Charles Ergen had schemed to ensure that the latter would be able to obtain the former's broadband spectrum.
Yuan Zhide, a Shanghai Venture Capital Senior Executive, said the Chinese central government's ban on initial public offerings needed to be removed if the country's venture capital industry is to be revived.
Although China's support to overhaul the current system of registration-based stock issuance, analysts said it might take a long time for the new system to be adopted.
Globe Telecom Inc legal counsel Froilan Castelo said his company did not violate anti-competition laws about the firm's acquisition of smaller rival Bayan Telecommunications Inc.
Federal regulators had a suspicion that currency traders have bonded together to increase costs of foreign currencies in order to gain on their investments.
The government of the Philippines would be launching an online portal designed to provide information on how foreign assistance had been spent, especially for the government's response to help the victims of Typhoon Haiyan.
According to sources who were familiar with the proceedings, the government of Japan will be making the USD1.2 trillion Government Pension Investment Fund (GPIF) exist as a separate entity in order to diversify its investments.
A VentureBeat article urged startups to push for involvement in the drafting of the Trans-Pacific Partnership (TPP) Agreement to ensure that provisions in the trade agreement are not biased.
Australian Workers Union head Paul Howes said the need for Australia to have a fresh injection of capital was more important than considering the sentiments of union workers at GrainCorp regarding the sale of the company to US-based Archer Daniels Midland.
