Japanese prosecutors said Friday that they have charged the head of collapsed Bitcoin exchange MtGox with embezzlement, amid fraud allegations over the disappearance of hundreds-of-millions-of-dollars-worth of the virtual currency.
Mark Karpeles, the head of the collapsed MtGox Bitcoin exchange who was arrested in Tokyo, is facing fresh allegations that he misused $8.9 million in customers` deposits, Japanese media reported Sunday.
Japanese police on Saturday arrested Mark Karpeles, head of the MtGox Bitcoin exchange, after a series of fraud allegations lead to its spectacular collapse and hammered the digital currency's reputation.
Britain took a significant step towards becoming a global bitcoin hub on Wednesday as the government announced it would regulate digital currencies for the first time by applying anti-money laundering rules to exchanges.
Regulators ordered Australia`s Bitcoin Group Ltd to stop making public statements about its plans to undertake the world`s first initial public offering of a virtual currency exchange after the company approached potential Chinese investors via social media.
Once handling 80 percent of the world`s bitcoin trades, Mt. Gox filed for bankruptcy in February in Tokyo after it lost 750,000 of its users` bitcoins and 100,000 of its own. Mark Karpeles, the 28 year-old French CEO of Mt. Gox, blamed hackers for the loss.
TeraExchange on Friday launched a swap based on the bitcoin virtual currency, becoming the first to receive approval from a US federal regulator for a financial product based on the budding technology.
Bitcoin entrepreneur Charlie Shrem has reached a plea deal to resolve U.S. charges that he engaged in a scheme to sell over $1 million of the digital currency to users of illicit online marketplace Silk Road, his lawyer said Friday.
Bitcoin is catching on at US online merchants including Overstock.com and Expedia, as customers use a digital currency that just a few years ago was virtually unknown but is now showing some staying power.