Bitcoin Weekly Wrap - Virtual Currency Industry Supports Authorization of Regulated Venue
Saturday,14/02/2015|17:19GMTby
Adil Siddiqui
Digital currencies welcomed a new bill drafted by Republican Marc Roberts to promote trade and commerce by accepting Bitcoins, read this and other key stories affecting the Bitoin sector in weekly Bitcoin Picks.
The world of Bitcoins and digital currencies went through a busy week with both positive and negative news impacting the sector. Among the many stories covered on DC Magnates was news of politicians supporting the use of virtual currencies in the state of Utah, coupled with support from industry participants for the launch of the first authorized trading venue under the CFTC, pending approval.
Accept Bitcoins in Utah, Draft Bill Proposed by Republican Marc Roberts
A bill drafted by Rep. Marc K. Roberts proposes that Utah accept bitcoin Payments for state services. Its first reading in the state legislature took place on Tuesday.
The bill notes how Utah was “founded upon the principles of industry and entrepreneurialism” and that “technological industries, including industries in emerging technologies, play an increasingly important role in Utah’s economy and culture.” Therefore, the state should accept bitcoin, which is “based on the principles of free-market capitalism and is not centrally regulated.”
Practically, the bill says merchants save on transaction fees with bitcoin relative to other payment mechanisms. It also points to the fact that several companies already accept bitcoin for payment, including Utah-based Overstock.com.
Participants in the virtual currency space were supporting LedgerX’s application with the CFTC as it seeks authorization. A number of key players provided comments on the application.The comment period offered by the US Commodity Futures Trading Commission (CFTC) on LedgerX’s application for registration as a Derivatives Clearing Organization and Swap Execution Facility has been extended until February 20.
LedgerX wants to become the first approved facility where physically settled options on bitcoin can be listed and cleared. Last October, the start-up received funding from Lightspeed Venture Partners, Google Ventures and others.
Among notable commenters were BitPay and Circle. Both businesses engage in the exchange of bitcoin for fiat on behalf of their clients, requiring them to maintain a sufficient reserve of bitcoin. Thus, derivative products will help hedge exposure to price volatility and the approval of a registered facility will instill confidence in its users.
Online Gambles to Benefit from Bitcoin USafe at VGambling
VGambling, an internet gambling company, has partnered with GoCoin to enable Bitcoin, Litecoin and Dogecoin payments.
VGambling, which is publicly traded on the OTC markets, says it “intends to combine “video games” and “Internet gambling” to create and lead a global “online video gambling” (i.e. vgambling) industry. The objectives are to “enhance the player’s entertainment experience” while generating more revenue opportunities for game developers, affiliate marketers and players.
Virtual Currency Ponzi Scheme MyCoin Could Leave Investors in the Lurch
Investors in the MyCoin Ponzi scheme are unlikely to get much of their money back, based on the latest developments in the case.
The company disappeared with possibly as much as HK$3 billion ($390 million) of investor funds. Whatever remained of them has reportedly been transferred by one of the company’s directors to an account in the British Virgin Islands.
Unlike in the Bernie Madoff case, authorities in a Ponzi scheme involving bitcoins may return empty-handed. The laws of the Blockchain do not grant any more power to police than to criminals.
At least 30 investors filed reports with police, with more likely on the way. The company had previously claimed 3,000 clientele, a figure that has yet to be verified.
The world of Bitcoins and digital currencies went through a busy week with both positive and negative news impacting the sector. Among the many stories covered on DC Magnates was news of politicians supporting the use of virtual currencies in the state of Utah, coupled with support from industry participants for the launch of the first authorized trading venue under the CFTC, pending approval.
Accept Bitcoins in Utah, Draft Bill Proposed by Republican Marc Roberts
A bill drafted by Rep. Marc K. Roberts proposes that Utah accept bitcoin Payments for state services. Its first reading in the state legislature took place on Tuesday.
The bill notes how Utah was “founded upon the principles of industry and entrepreneurialism” and that “technological industries, including industries in emerging technologies, play an increasingly important role in Utah’s economy and culture.” Therefore, the state should accept bitcoin, which is “based on the principles of free-market capitalism and is not centrally regulated.”
Practically, the bill says merchants save on transaction fees with bitcoin relative to other payment mechanisms. It also points to the fact that several companies already accept bitcoin for payment, including Utah-based Overstock.com.
Participants in the virtual currency space were supporting LedgerX’s application with the CFTC as it seeks authorization. A number of key players provided comments on the application.The comment period offered by the US Commodity Futures Trading Commission (CFTC) on LedgerX’s application for registration as a Derivatives Clearing Organization and Swap Execution Facility has been extended until February 20.
LedgerX wants to become the first approved facility where physically settled options on bitcoin can be listed and cleared. Last October, the start-up received funding from Lightspeed Venture Partners, Google Ventures and others.
Among notable commenters were BitPay and Circle. Both businesses engage in the exchange of bitcoin for fiat on behalf of their clients, requiring them to maintain a sufficient reserve of bitcoin. Thus, derivative products will help hedge exposure to price volatility and the approval of a registered facility will instill confidence in its users.
Online Gambles to Benefit from Bitcoin USafe at VGambling
VGambling, an internet gambling company, has partnered with GoCoin to enable Bitcoin, Litecoin and Dogecoin payments.
VGambling, which is publicly traded on the OTC markets, says it “intends to combine “video games” and “Internet gambling” to create and lead a global “online video gambling” (i.e. vgambling) industry. The objectives are to “enhance the player’s entertainment experience” while generating more revenue opportunities for game developers, affiliate marketers and players.
Virtual Currency Ponzi Scheme MyCoin Could Leave Investors in the Lurch
Investors in the MyCoin Ponzi scheme are unlikely to get much of their money back, based on the latest developments in the case.
The company disappeared with possibly as much as HK$3 billion ($390 million) of investor funds. Whatever remained of them has reportedly been transferred by one of the company’s directors to an account in the British Virgin Islands.
Unlike in the Bernie Madoff case, authorities in a Ponzi scheme involving bitcoins may return empty-handed. The laws of the Blockchain do not grant any more power to police than to criminals.
At least 30 investors filed reports with police, with more likely on the way. The company had previously claimed 3,000 clientele, a figure that has yet to be verified.
In this video, we take an in-depth look at @BlueberryMarketsForex , a forex and CFD broker operating since 2016, offering access to multiple trading platforms, over 1,000 instruments, and flexible account types for different trading styles.
We break down Blueberry’s regulatory structure, including its Australian Financial Services License (AFSL), as well as its authorisation and registrations in other jurisdictions. The review also covers supported platforms such as MetaTrader 4, MetaTrader 5, cTrader, TradingView, Blueberry.X, and web-based trading.
You’ll learn about available instruments across forex, commodities, indices, share CFDs, and crypto CFDs, along with leverage options, minimum and maximum trade sizes, and how Blueberry structures its Standard and Raw accounts.
We also explain spreads, commissions, swap rates, swap-free account availability, funding and withdrawal methods, processing times, and what traders can expect from customer support and additional services.
Watch the full review to see whether Blueberry’s trading setup aligns with your experience level, strategy, and risk tolerance.
📣 Stay up to date with the latest in finance and trading. Follow Finance Magnates for industry news, insights, and global event coverage.
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#Blueberry #BlueberryMarkets #BrokerReview #ForexBroker #CFDTrading #OnlineTrading #FinanceMagnates #TradingPlatforms #MarketInsights
In this video, we take an in-depth look at @BlueberryMarketsForex , a forex and CFD broker operating since 2016, offering access to multiple trading platforms, over 1,000 instruments, and flexible account types for different trading styles.
We break down Blueberry’s regulatory structure, including its Australian Financial Services License (AFSL), as well as its authorisation and registrations in other jurisdictions. The review also covers supported platforms such as MetaTrader 4, MetaTrader 5, cTrader, TradingView, Blueberry.X, and web-based trading.
You’ll learn about available instruments across forex, commodities, indices, share CFDs, and crypto CFDs, along with leverage options, minimum and maximum trade sizes, and how Blueberry structures its Standard and Raw accounts.
We also explain spreads, commissions, swap rates, swap-free account availability, funding and withdrawal methods, processing times, and what traders can expect from customer support and additional services.
Watch the full review to see whether Blueberry’s trading setup aligns with your experience level, strategy, and risk tolerance.
📣 Stay up to date with the latest in finance and trading. Follow Finance Magnates for industry news, insights, and global event coverage.
Connect with us:
🔗 LinkedIn: /financemagnates
👍 Facebook: /financemagnates
📸 Instagram: https://www.instagram.com/financemagnates
🐦 X: https://x.com/financemagnates
🎥 TikTok: https://www.tiktok.com/tag/financemagnates
▶️ YouTube: /@financemagnates_official
#Blueberry #BlueberryMarkets #BrokerReview #ForexBroker #CFDTrading #OnlineTrading #FinanceMagnates #TradingPlatforms #MarketInsights
Exness CMO Alfonso Cardalda on Cape Town office launch, Africa growth, and marketing strategy
Exness CMO Alfonso Cardalda on Cape Town office launch, Africa growth, and marketing strategy
Exness is expanding its presence in Africa, and in this exclusive interview, CMO Alfonso Cardalda shares how.
Filmed during the grand opening of Exness’s new Cape Town office, Alfonso sits down with Andrea Badiola Mateos from Finance Magnates to discuss:
- Exness’s marketing approach in South Africa
- What makes their trading product stand out
- Customer retention vs. acquisition strategies
- The role of local influencers
- Managing growth across emerging markets
👉 Watch the full interview for fundamental insights into the future of trading in Africa.
#Exness #Forex #Trading #SouthAfrica #CapeTown #Finance #FinanceMagnates
Exness is expanding its presence in Africa, and in this exclusive interview, CMO Alfonso Cardalda shares how.
Filmed during the grand opening of Exness’s new Cape Town office, Alfonso sits down with Andrea Badiola Mateos from Finance Magnates to discuss:
- Exness’s marketing approach in South Africa
- What makes their trading product stand out
- Customer retention vs. acquisition strategies
- The role of local influencers
- Managing growth across emerging markets
👉 Watch the full interview for fundamental insights into the future of trading in Africa.
#Exness #Forex #Trading #SouthAfrica #CapeTown #Finance #FinanceMagnates
How does the Finance Magnates newsroom handle sensitive updates that may affect a brand?
How does the Finance Magnates newsroom handle sensitive updates that may affect a brand?
Yam Yehoshua, Editor-in-Chief at Finance Magnates, explains the approach: reaching out before publication, hearing all sides, and making careful, case-by-case decisions with balance and responsibility.
⚖ Balanced reporting
📞 Right of response
📰 Responsible journalism
#FinanceMagnates #FinancialJournalism #ResponsibleReporting #FinanceNews #EditorialStandards
Yam Yehoshua, Editor-in-Chief at Finance Magnates, explains the approach: reaching out before publication, hearing all sides, and making careful, case-by-case decisions with balance and responsibility.
⚖ Balanced reporting
📞 Right of response
📰 Responsible journalism
#FinanceMagnates #FinancialJournalism #ResponsibleReporting #FinanceNews #EditorialStandards
Executive Interview | Kieran Duff | Head of UK Growth & Business Development, Darwinex | FMLS:25
Executive Interview | Kieran Duff | Head of UK Growth & Business Development, Darwinex | FMLS:25
Here is our conversation with Kieran Duff, who brings a rare dual view of the market as both a broker and a trader at Darwinex.
We begin with his take on the Summit and then turn to broker growth. Kieran shares one quick, practical tip brokers can use right now to improve performance. We also cover the rising spotlight on prop trading and whether it is good or bad for the trading industry.
Kieran explains where Darwinex sits on the CFDs-broker-meets-funding spectrum, and how the model differs from the typical setups seen across the market.
We finish with a look at how he uses AI in his daily workflow — both inside the brokerage and in his own trading.
Here is our conversation with Kieran Duff, who brings a rare dual view of the market as both a broker and a trader at Darwinex.
We begin with his take on the Summit and then turn to broker growth. Kieran shares one quick, practical tip brokers can use right now to improve performance. We also cover the rising spotlight on prop trading and whether it is good or bad for the trading industry.
Kieran explains where Darwinex sits on the CFDs-broker-meets-funding spectrum, and how the model differs from the typical setups seen across the market.
We finish with a look at how he uses AI in his daily workflow — both inside the brokerage and in his own trading.
Why does trust matter in financial news? #TrustedNews #FinanceNews #CapitalMarkets
Why does trust matter in financial news? #TrustedNews #FinanceNews #CapitalMarkets
According to Yam Yehoshua, Editor-in-Chief at Finance Magnates, in a world flooded with information, the difference lies in rigorous cross-checking, human scrutiny, and a commitment to publishing only factual, trustworthy reporting.
📰 Verified reporting
🔎 Human-led scrutiny
✅ Facts over noise
According to Yam Yehoshua, Editor-in-Chief at Finance Magnates, in a world flooded with information, the difference lies in rigorous cross-checking, human scrutiny, and a commitment to publishing only factual, trustworthy reporting.
📰 Verified reporting
🔎 Human-led scrutiny
✅ Facts over noise
