Weekend Roundup: UK Gvt Announces £10M Research Funding, Rakuten Embraces Bitcoin

Japan's Rakuten has started to accept Bitcoin as a payment method, UK government announces an additional £10 million funding to research further into digital currencies, US$12 million worth of bitcoins disappear in Dark Net marketplace scam, and more top stories that happened this week.

UK Government Pledges £10M to Digital Currency Research, Alongside Regulation

The UK government announced a £10 million, or US$14.6 million, research fund to look into opportunities in digital currencies.

Publishing the results of the five-month consultation on the future of digital currencies, the government outlined a series of recommendations and the next few steps on their approach to the emerging sector:

"The government is launching a new research initiative which will bring together the Research Councils, Alan Turing Institute and Digital Catapult with industry in order to address the research opportunities and challenges for digital currency technology, and will increase research funding in this area by £10 million to support this."