The Isle of Man is to take ‘specific actions’ aimed at helping protect businesses and customers utilising digital currencies and provide an environment for high-quality businesses in this rapidly emerging field who wish to operate here. The online gaming jurisdiction is looking to recognise digital currencies as a property, rather than a currency, and apply the appropriate anti-money laundering controls. …
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Bitcoin Public Fears Amid Hack of Mt Gox
Mt Gox, a major Bitcoin currency exchange, has declared itself bankrupt in a Tokyo district court hearing this Friday 28 February. A company lawyer cited outstanding debts of $63.2 million against company assets valued at $37.7 million. The Bitcoin trader had suffered a security breach (hack) that resulted in the crypto currency being stolen from its platform and customer savings …
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