Bitcoin

Central Bank of Pakistan puts prohibition on Bitcoin & Virtual Currencies.

The central bank of Pakistan, i.e. State Bank of Pakistan, ended months of neutral stance by formally issuing a notice on Bitcoin &/or Virtual Currencies. In a Banking Policy & Regulations Department (BPRD) Circular # 3 of 2018, State Bank of Pakistan has officially put a Prohibition of Dealing in Virtual Currencies/Tokens. It also confirms …

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Bitcoin mining consumes more energy than 159 countries

It takes 29.05TWh annually to operate the energy-hungry computers and networks that power bitcoin transactions. The rise in its value has given way to an increase in electrical consumption that is used to “mine” more bitcoins, according to a report Source: Bitcoin mining consumes more energy than 159 countries

Bitcoin & co: India’s crypto-currency debate heads to the courts, again — Quartz

When governments fail to come up with solutions, courts often have to step in to provide guidance. A petition seeking the government to act on Bitcoin has landed in India’s Supreme Court. The case is likely to come up for hearing in January 2018. Source: Bitcoin & co: India’s crypto-currency debate heads to the courts, …

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No bitcoins for payments and settlements, says the Reserve Bank of India — Quartz

After Pakistan and some other countries, India decides it doesn’t like Bitcoin. …director of the Reserve Bank of India (RBI) has signalled that virtual currencies like bitcoin won’t be allowed in the country. “Our current position on bitcoins is that we will not be using it for any payments and settlements…though the technology underlying crypto-currencies …

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Bitcoin Businesses Refused Accounts as UK Banks Consolidate Power 

Because of its disruptive nature, Bitcoin and other cryptocurrencies sit very uneasily with the traditional banking sector as there is a fear the digital currency could render them obsolete. The UK boasts about its relative dominance in the fintech sector, but its own banks are making life difficult for the country’s bitcoin businesses. Source: Bitcoin …

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