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SEOUL, South Korea (AFP) — South Korea is preparing to shut down cryptocurrency exchanges in the country, its justice minister warned Thursday, sending prices of bitcoin and other virtual units into a tailspin. A series of measures have failed to curb overheated virtual currency speculation in the country and Justice Minister Park Sang-Ki said it would be “devastating if the bubble bursts.” “The ministry is preparing legislation that basically bans any transactions based on a […]
TOKYO, Japan (AFP) — Move over AKB48: Japan has a new all-girl “idol” band — the Virtual Currency Girls — on a mission to educate the public about bitcoin and other cryptocurrencies. Each of the eight girls in the band, known in Japanese as “Kasotsuka Shojo,” plays a character representing a virtual currency such as bitcoin, ethereum or ripple. Promotional material shows the performers wearing character masks, frilly mini-skirts and “maid” aprons complete with knee-high […]
SINGAPORE, Singapore (AFP) — A Singapore bar that bills itself as the world’s highest cryptocurrency club is offering a New Year’s Eve package that includes a limousine pick-up and butler service — but it’ll cost you a whole bitcoin. Skyline, on the 45th floor of a skyscraper overlooking the city-state’s glittering waterfront, is promising partygoers a luxury-filled night out, with champagne and oysters and caviar. But it won’t come cheap, with the price of bitcoin […]
NEW DELHI, India (AFP) — India warned Friday against investing in cryptocurrencies including bitcoin, likening them to “Ponzi schemes”, as it became the latest country to urge caution. Despite a boom in trade that has seen prices soar, cryptocurrencies “don’t have intrinsic value and are not backed by any kind of assets,” the Indian finance ministry said in a statement. “There is a real and heightened risk of investment bubble of the type seen in Ponzi schemes […]
by Chris Wright Agence France Presse PARIS, France (AFP) — As the poster child for the growing ranks of computer-generated currencies, bitcoin’s recent stratospheric price rises have propelled it from the chat forum-hosted depths of nerddom into the global consciousness. As it rose from under $1,000 to over $19,500 at one point this year, hordes of tech-savvy punters have rushed in to buy, while any investors can now do the same on the US […]
TOKYO, Japan (AFP) — Bitcoin prices suffered a dramatic plunge on Friday, dropping 20 percent at one point towards the $13,000-mark in volatile Asian trading. The cryptocurrency kicked the week off with a bang, almost hitting $20,000 as it extended its astonishing rise but it has suffered a significant correction this week, losing a third of its value. Bitcoin dropped to $13,048 briefly from around $16,500 in late trading on Thursday, according to data compiled […]
BRUSSELS, Belgium (AFP) — The EU’s top official for the euro single currency on Wednesday pressed European regulators to urgently update financial rules in order to face bitcoin’s dizzying volatility. Crypto-currency bitcoin has soared almost 20-fold since the start of the year and this month saw it move into the mainstream as two major US exchanges began trading futures in the unit. “The developments relating to bitcoin and crypto-currencies in recent weeks require our heightened […]
TOKYO, Japan (AFP) — A Japanese company will start paying part of its employees’ salaries in Bitcoin, as it aims to get better understanding of the virtual currency, a spokeswoman said on Friday. GMO Internet, which operates a range of web-related businesses including finance, online advertising and internet infrastructure, will start paying up to 100,000 yen ($890) monthly by Bitcoin to its employees in Japan from February next year. “Employees can receive salaries by Bitcoin […]
NEW YORK, United States (AFP) — Bitcoin experienced some big swings but finished higher in its debut on a major exchange Monday, while a leading US securities regulator warned investors about the risks of cryptocurrencies. Bitcoin futures for January delivery finished at $18,850.00 near 2115 GMT on its first full day of trading, a bit below session peaks but soaring well past the $15,000 initial price when Cboe launched the platform on Sunday night. The […]
NEW YORK, United States (AFP) — Cryptocurrency Bitcoin made its debut on a major bourse Sunday, opening at $15,000 per unit at the Chicago board options exchange. Around 23:20 GMT, the price of the currency had risen to $15,940 dollars on a futures contract scheduled for settlement on January 17 according to data provided by the Chicago board options exchange (Cboe). A futures contract is a financial product that allows investors to bet on whether the […]
LONDON, United Kingdom (AFP) — Bitcoin flirted with $17,000 on Thursday, triggering a warning the cryptocurrency was “like a charging train with no brakes” and prompting fresh concern about its looming launch on mainstream markets. Still under $14,000 in Asian trading hours, it smashed through $15,000 in European trading and then later surged to $16,777.08 around 1630 GMT, according to Bloomberg data. The rally came just a day after the virtual currency, which has been […]
SINGAPORE, Singapore (AFP) — Bitcoin hit a fresh record of $14,000 Thursday as investors piled in, triggering a warning the cryptocurrency was “like a charging train with no brakes” which would inevitably slip back. It touched a new a high of $14,400 in Asian trade before slipping back to $13,900, according to Bloomberg News. The rally came just a day after the virtual currency, which has been used to buy everything , hit the $12,000 […]
