A member of the House of Representatives of the Philippines has introduced a bill that would seek to create a government-backed “e-peso” that would serve as an official medium of exchange for domestic online payments. Introduced as part of the E-Peso Act of 2014, the payments tool would be considered legal tender for debt, taxes and goods and services, according to a report by The … Continue reading Bitcoin News: Bitcoin-Backed Money To Get A Big Boost From Philippine Government Bill

Latin America is widely believed to one of the markets that could most benefit from digital currency, as the region’s consumers and businesses have been afflicted by volatile government-backed currencies, capital controls and high remittance costs. Given these challenges, a small but passionate local bitcoin industry has emerged in Latin America, with the aim of giving local consumers access to both an alternative currency and … Continue reading Bitcoin Fails to Take Off At Peru Startup Challenge

The Bitcoin Foundation’s Financial Standards Working Group has shed new light on its priorities for the next six months, announcing it will attempt to standardise bitcoin’s code, currency symbol and subunits over that period. The group’s formal plan of action follows its first emergence as an unnamed standards committee this June, when a post on the Bitcoin Foundation community forum called for volunteers for the … Continue reading Bitcoin News: Bitcoin Symbol and Code to Be Standardised soon

Portuguese manufacturer Bitcoin Já launched its first Bitcoin ATM in Lisbon over the weekend. The company is a brand new name in the world of bitcoin ATMs, so this is not only its first bitcoin machine in Portugal, but also the world. The launch of the ‘BJATM1’ model took place at the ATM’s permanent location, Lisbon’s @Cinema theatre, on Saturday, 4th October. Bitcoin Já describes … Continue reading Bitcoin News: Bitcoin Já Launches New Bitcoin ATM

The Ministry of Finance of the Russian Federation has released the full version of the draft bill that, if passed in current form, would effectively ban the creation and distribution of software that allows for the use of money substitutes, including bitcoin and all digital currencies. First announced as a proposal in August, the news marks the first time that the Ministry of Finance has … Continue reading Bitcoin News: Russia Proposes Monetary Penalties on Bitcoin Usage