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Digital Currency

Bitcoin Exchange Suspension Unlikely to Derail Growth of Digital Currencies

London-based Bitstamp, the second largest exchange for alternative currency Bitcoin, suspended services following a hack that accounted for more than $5 million in losses. Nobody said the rise of digital currency would be a smooth ride.  Proof of that came again this week as one of the oldest, relatively speaking, Bitcoin currency exchanges went offline following a hacking incident. But ... Read More »

U.S. Internal Revenue States Bitcoin is a Property

The I.R.S. will treat Bitcoin, the computer-driven online money system, as property rather than currency for tax purposes, a move that forces users who have grown accustomed to operating under the government’s radar to deal with new tax issues and reporting requirements. The industry had been expecting the government to come out with some sort of guidance on Bitcoin, so ... Read More »