JUN 22 DIGEST: Bank of Indonesia Calls Bitcoin ‘Digital Commodity,’ SealsWithClubs Founder Set for Court Appearance
Bank of Indonesia has warned against the use of Bitcoin, the entrepreneur behind SealsWithClubs will appear before a judge on Thursday and more news.
Bank of Indonesia has warned against the use of Bitcoin, the entrepreneur behind SealsWithClubs will appear before a judge on Thursday and more top stories for June 22.
Bank of Indonesia has Discouraged Citizens from Using Bitcoin
The Bank of Indonesia has warned the citizens of the South East Asian country against using Bitcoin. In a public statement, the Bank said that Bitcoin is neither a currency nor a legal payment tool, and thus those using it should shoulder any risks incurred.
While the governor of the Bank of Indonesia has always maintained that using Bitcoin breaks some the country's laws, nevertheless even the latest strongly-worded statement doesn’t ban its use.
Suasti Atmastuti Astaman, Business Development Manager Bitcoin Indonesia:
"From that statement, we may conclude that the legal medium of exchange in Indonesia should be only Rupiah. US Dollar and gold are also not a legal medium of payment. Thus, in a way, Bitcoin can be treated as a commodity (a digital commodity), same as gold. Bitcoin is allowed to exist in Indonesia, and people are allowed to buy, sell and own bitcoin as long as it is not used as a medium of payment."
SealsWithClubs’ Bryan Micon to Return to US for Court Appearance
Bryan Micon, the entrepreneur behind SealsWithClubs, is set to return to the US to face criminal charges for operating an illegal gambling website. Bryan has spent months in Antigua to avoid arrest and prosecution.
He will appear before a Nevada court on Thursday, and if found guilty, he is likely to go to jail for at least ten years. In addition, he may be asked to pay a fine of about US$50,000 for not obtaining a license from the Nevada Gaming Control Board.
"Operating or otherwise conducting gaming in the state without a license is illegal, and this office will aggressively pursue individuals and companies who seek to circumvent gaming regulations."
Professional Clothing for Digital Currency Enthusiast has Launched
A clothing startup that is on a mission to make Bitcoin themed designs available to enthusiasts has launched. Pro-Crypto plans to reach its clientele through a dedicated online store and will accept BTC payment through Stripe and Bitpay. Nevertheless, according to the startup, anyone wishing to pay with credit cards is also welcome.
Kim Dotcom Predicts Greece Will Crash Market
Kim Dotcom has predicted in a tweet that Greece will eventually crash the financial market. In anticipation of this, he advises investors to buy bitcoin and gold. The 41-year-old Internet entrepreneur believes that the two will rise after the market crashes.
World's 1st SQRL Login Can Make Keyloggers & Trackers Obsolete
A free and open source program known as Secure Quick Reliable Login (SQRL, pronounced “squirrel”) is likely to replace the traditional username and password Web authentication process.
The software by Steve Gibson uses public-key cryptography to allow a user to generate a single master token. This interfaces pseudonymously with websites without revealing personal information or passwords.
Cointelegraph Officially Launches in Poland
Cointelegraph has announced the launch of its new regional website in Poland. This will boost cryptocurrency awareness in the country as well as foster the local cryptocurrency community.
“With Bitcoin awareness permeating the consciousness of the globe, the Cointelegraph Media Group is fast-tracking the process by launching regional publications in a number of key countries to educate the public about the benefits of cryptocurrency. This week marks the launch of our new affiliate site in Poland: Cointelegraph.pl.”
Bitcoin Exchange OKCoin is Back Online after Outage
Bitcoin exchange OKCoin has come back online after experiencing a twelve hour long outage. The company has attributed the glitch to their service provider and has announced that it is taking measures to ensure that its website is protected from similar occurrences in the future.