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California is working to stop businesses from moving out of the state in its version of the BitLicense; Patrick Byrne signs US$30M deal to bridge the gap between Bitcoin technology and Wall Street; and more news
California is working to stop businesses from moving out of the state in its version of the BitLicense; Patrick Byrne signs US$30M deal to bridge the gap between Bitcoin technology and Wall Street; and more top stories for August 27.
The state of California is working on the A.B. 1326 bill, which will require “virtual currency businesses” to apply for and obtain a license in order to operate in California, while seeking to avoid an exodus of bitcoin businesses as witnessed with New York’s Bitlicence.
An amended draft of the bill has been released, and some Bitcoin industry players have voiced their support for it while others remain skeptical.
Patrick Byrne, the founder of Overstock.com, has announced an acquisition of a Wall Street broker-dealer firm. The $30 million deal marks the first time Bitcoin technology is directly linked to Wall Street.
“Basically, it’s the wormhole. It’s the connection between the two universes. All the stuff we’ve built can now be accessed directly by people with a Bloomberg terminal, people with an eTrade account.”
Bunifu Technologies, a security company, based in Kenya, is now accepting Bitcoin payments for its products.
Wilberforce Seguton, CEO Bunifu Technologies.
"It is clear to us that the future of money is crypto currency. Supporting crypto currency payments like Bitcoin is one way of moving with the times and providing options to millions of customers out there who may want to purchase using such medium."
Microsoft is giving away $500 in Bitcoin to those who are part of their Bing Rewards program. Bing Rewards, which launched in 2014, provides credits to users through regular Bing searches and special promotions, which they can redeemed for various products
Bitfilm, a Berlin-based production company, has launched crowdfund for the first ever Bitcoin-inspired feature-length fiction film on StartJoin. Bitfilm targets to collect US$80,000 on the crowdfunding platform for the film, which it has named Satoshi's Last Will.
The film is to be a thriller full of action and suspense. Nevertheless, Bitfilm plans to make it very educational on Bitcoin as well.
Producer Aaron Koenig:
“There are several good documentaries about Bitcoin. But not many people watch documentaries. In order to have a significant impact on mainstream culture, one has to tell a compelling story that fascinates people.”
INTERPOL, the global police organization, embarks on training law enforcers from several countries on how to identify the methods and strategies used to avoid detection on the Darknet. INTERPOL’s Cyber Research Lab developed a private Darknet network clone to train and mimic actual transactions settled in cryptocurrency.
INTERPOL’s Director of Cyber Innovation and Outreach unit Madan Oberoi:
"The specialized training provided by INTERPOL equips law enforcement with the understanding and tools they need to take very real action targeting criminals in the virtual world.”
The Commonwealth's Virtual Currencies Working Group, which held a three-day conference held in London this week, has recommended that Commonwealth governments regulate bitcoin to address the risks associated with digital currencies but without stifling innovation.
Commonwealth's Virtual Currencies Working Group:
"Member states should consider the applicability of their existing legal frameworks to virtual currencies and where appropriate they should consider adapting them or enacting new legislation to regulate virtual currencies."
Bitcoin and Japan have had an interesting and strained relationship over the last three years. Businesses, exchanges, and digital currency trading have flourished, and have even been encouraged to an extent, throughout the technologically cutting-edge country.
Now, recent events and international backlash are starting to turn the national tide of perception against Bitcoin exchanges in the Land of the Rising Sun.
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