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  • The head of the Office of the Comptroller of the Currency (OCC) has called for a balanced approach to regulation governing financial technology development in the United States, citing bitcoin as one such example. Months after calling digital currencies “potentially revolutionary”, OCC Comptroller Thomas Curry highlighted bitcoin during a recent speech as he called for regulators to avoid crafting overly […]

  • The UK could become the world’s most attractive location for businesses using digital currencies, such as bitcoins, after George Osborne announced a new package of regulation for the nascent sector including anti-money-laundering rules. Entrepreneurs have long complained that the lack of rules has made it hard for them to be accepted as legitimate, and there […]

  • LONDON (InsideBitcoins) — As of January 1st, the European Union instituted new rules regarding electronic services as a taxable commodity. Whilst not directed at bitcoin specifically, the directive refers to supplying a ‘digital service’ to another member state and as such one clear requirement for the supplier would be determining if they are providing this […]

  • Scott Eells | Bloomberg | Getty Images Benjamin Lawsky, superintendent of the New York State Department of Financial Services After 3,700 public comments, the proposed licensing for bitcoin-related firms has been slightly relaxed. Benjamin Lawsky, New York state superintendent of financial services, announced his new proposal for the so-called BitLicense in a Thursday speech. The […]

  • MasterCard has used a submission to a Senate inquiry to argue for Australian regulators to move against the pseudonymity of digital currencies such as Bitcoin. “Any regulation adopted in Australia should address the anonymity that digital currency provides to each party in a transaction,” the company’s submission (PDF) states. “Contrary to transactions made with a […]

  • Global Advisors, a firm based in Jersey that manages the first regulated bitcoin fund, has been served notice by its bank, HSBC. The firm said it received a notice from HSBC indicating that the company’s bank account would be closed in 60 days. A meeting with HSBC personnel at the firm’s office in Jersey revealed that the […]

  • The Russian Finance Ministry has drafted a decree that will exclude Malta from the blacklist of offshore jurisdictions, according to the Russian news agency Tass. The decision followed the signing of an agreement between the Maltese and Russian governments in May. The agreement was on the avoidance of dual taxation and prevention of tax evasion […]

  • NEW DELHI: India and Switzerland have been able to achieve a breakthrough in their deadlock over banking secrecy laws in the European nation that prevented tax authorities from being able to unearth black money, a day-one priority for the Narendra Modi-led NDAgovernment. The agreement will not only let Indian tax authorities keep tabs on their […]

  • Swiss banking giant UBS has made a 1.1-billion-euro ($1.4 billion) bail payment for allegedly helping rich French clients to hide money in Switzerland, a lawyer for the firm said Tuesday. The payment “has been made, subject to the legal recourse open to UBS,” said the lawyer, Denis Chemla. The bank was charged with tax fraud in […]

  • Digital currencies such as bitcoin do not currently pose a material risk to monetary or financial stability in the UK, according to a report published by the Bank of England. “While that could, in theory, change if sterling were abandoned in favour of an alternative currency for a significant fraction of the economy, such a […]