A couple from New Zealand who were charged with various drug related crimes after having ordered drugs from a Silk Road type site, have escaped a jail sentence despite the Crown prosecutor's suggestion that imprisonment was the appropriate punishment. Continue reading
Monthly Archives: December 2014
Australia: The Tax Institute Calls for 'Voluntary' Bitcoin Registry, Treating Bitcoin as Currency
In a filing with the Australian Parliament the Tax Institute proposed a number of changes and suggestions for future measures the Australian Government could consider with respect to Bitcoin. Among those changes were treating Bitcoin as a currency rather than a good which would end the burden of processing GST taxes on Bitcoin purchases, a bane which has lead at least one startup to leave Australia. Also proposed is a "voluntary registry" of Bitcoin addresses in order to: Continue reading
United Kingdom Severely Constrains Porn Production
Today an amendment to the 2003 Communications Decency act went into effect that severely limits the acts that can be portrayed in pornography produced in the United Kingdom. The changes apply restrictions that the United Kingdom has placed on content produced for DVD porn and extends those restrictions to Video on Demand Porn. Pornographer Erika Lust regrets the changes as: Continue reading
ChangeTip Raises $3.5 Million Lead by Pantera Capital
According to CoinDesk the Reddit and Twitter tipping service ChangeTip has raised $3.5 million in a funding round lead by Pantera Capital.
Project Longstrike Launches, Meanwhile Australian Citizen Extradited To United States Over Silk Road Charges
Reuters reports that an unnamed Australian law enforcement agency is investigating the use of bitcoin in organised crime. It's unknown whether the LEA conducting the investigation, named Project Longstrike, is one at the state or federal level. Given the project's scope for local and international crime, it's likely to be the later of the two. Continue reading
MasterCard's Submission To Economics References Committee Now Available
A copy of MasterCard's submission to the Economics References Committee held by the Australian Senate on the 26th of November 2014 is now available to the public. Within the submission, MasterCard argues that the Australian regulators must address the pseudonymity of Bitcoin as it can be used to facilitate the purchase of illegal goods and services, launder money as well as finance terrorism.
MasterCard stated that for Australia to have an effective regulatory system for Bitcoin, it must make it a requirement for all transactions to go through regulated and transparent administrators rather than just the blockchain itself. The company also claims that Australia must address the risks that harm consumers and enable criminal behaviours through the use of digital currencies such as Bitcoin if the country is to take a market leadership position going into the future.
MoneyBeat, A WSJ Blog, Confirms GAW Miners Is A Ponzi
MoneyBeat, a blog hosted by the Wall St Journal, has published a second article discussing accusations levied against Josh Garza's GAW Miners. Michael J Casey, who authored the piece, concludes that his research is unlikely to placate the "highly vocal critics" of GAW Miners. Garza appears to be quite happy with the article, proudly tweeting it to his followers via @gawceo. Continue reading
Bitcoin Blackmailer Given Four Year Jail Sentence
Last month, Qntra reported on Lewys Martin, a UK citizen who attempted to blackmail Halifax Bank, a subsidiary of Lloyds Banking Group, to the tune of 2,800 BTC. Martin had previously been given a two year jail sentence for ddosing the websites of Oxford and Cambridge university. Continue reading
UN Report Criticizes United States on Human Rights
A recent report by the United Nations High Commision for Human Rights Committee on Torture excoriated the United States for its human rights record at home and abroad in it first review of the United States since 2006. The United States record was reviewed along with those of several other parties to the 1987 U.N Convention Against Torture which was ratified by the United States in 1994. A number of issues raised in the committee's conclusions include: Continue reading
HSBC Cuts Ties with GABI
HSBC has reportedly cut ties with the "regulated" Global Advisors Bitcoin Investment Fund (GABI) over concerns related to "money laundering" risks. Notably in 2012 HSBC settled with the United States for $1.92 billion related to assistance it allegedly provided drug cartels in laundering money in Mexico and Columbia, likely making the money laundering issue a very sore subject for the bank.