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.
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Hannah Hill on Innovation, Branding & Award-Winning Technology | Executive Interview | AXI
Hannah Hill on Innovation, Branding & Award-Winning Technology | Executive Interview | AXI
Recorded live at FMLS:25, this executive interview features Hannah Hill, Head of Brand and Sponsorship at AXI, in conversation with Finance Magnates, following AXI’s win for Most Innovative Broker of the Year 2025.
In this wide-ranging discussion, Hannah shares insights on:
🔹What winning the Finance Magnates award means for AXI’s credibility and innovation
🔹How the launch of AXI Select, the capital allocation program, is redefining industry standards
🔹The development and rollout of the AXI trading app across multiple markets
🔹Driving brand evolution alongside technological advancements
🔹Encouraging and recognizing teams behind the scenes
🔹The role of marketing, content, and social media in building product awareness
Hannah explains why standout products, strategic branding, and a focus on innovation are key to growing visibility and staying ahead in a competitive brokerage landscape.
🏆 Award Highlight: Most Innovative Broker of the Year 2025
👉 Subscribe to Finance Magnates for more executive interviews, industry insights, and exclusive coverage from the world’s leading financial events.
#FMLS25 #FinanceMagnates #MostInnovativeBroker #TradingTechnology #FinTech #Brokerage #ExecutiveInterview #AXI
Recorded live at FMLS:25, this executive interview features Hannah Hill, Head of Brand and Sponsorship at AXI, in conversation with Finance Magnates, following AXI’s win for Most Innovative Broker of the Year 2025.
In this wide-ranging discussion, Hannah shares insights on:
🔹What winning the Finance Magnates award means for AXI’s credibility and innovation
🔹How the launch of AXI Select, the capital allocation program, is redefining industry standards
🔹The development and rollout of the AXI trading app across multiple markets
🔹Driving brand evolution alongside technological advancements
🔹Encouraging and recognizing teams behind the scenes
🔹The role of marketing, content, and social media in building product awareness
Hannah explains why standout products, strategic branding, and a focus on innovation are key to growing visibility and staying ahead in a competitive brokerage landscape.
🏆 Award Highlight: Most Innovative Broker of the Year 2025
👉 Subscribe to Finance Magnates for more executive interviews, industry insights, and exclusive coverage from the world’s leading financial events.
#FMLS25 #FinanceMagnates #MostInnovativeBroker #TradingTechnology #FinTech #Brokerage #ExecutiveInterview #AXI
Executive Interview | Dor Eligula | Co-Founder & Chief Business Officer, BridgeWise | FMLS:25
Executive Interview | Dor Eligula | Co-Founder & Chief Business Officer, BridgeWise | FMLS:25
In this session, Jonathan Fine form Ultimate Group speaks with Dor Eligula from Bridgewise, a fast-growing AI-powered research and analytics firm supporting brokers and exchanges worldwide.
We start with Dor’s reaction to the Summit and then move to broker growth and the quick wins brokers often overlook. Dor shares where he sees “blue ocean” growth across Asian markets and how local client behaviour shapes demand.
We also discuss the rollout of AI across investment research. Dor gives real examples of how automation and human judgment meet at Bridgewise — including moments when analysts corrected AI output, and times when AI prevented an error.
We close with a practical question: how retail investors can actually use AI without falling into common traps.
In this session, Jonathan Fine form Ultimate Group speaks with Dor Eligula from Bridgewise, a fast-growing AI-powered research and analytics firm supporting brokers and exchanges worldwide.
We start with Dor’s reaction to the Summit and then move to broker growth and the quick wins brokers often overlook. Dor shares where he sees “blue ocean” growth across Asian markets and how local client behaviour shapes demand.
We also discuss the rollout of AI across investment research. Dor gives real examples of how automation and human judgment meet at Bridgewise — including moments when analysts corrected AI output, and times when AI prevented an error.
We close with a practical question: how retail investors can actually use AI without falling into common traps.
Brendan Callan joined us fresh off the Summit’s most anticipated debate: “Is Prop Trading Good for the Industry?” Brendan argued against the motion — and the audience voted him the winner.
In this interview, Brendan explains the reasoning behind his position. He walks through the message he believes many firms avoid: that the current prop trading model is too dependent on fees, too loose on risk, and too confusing for retail audiences.
We discuss why he thinks the model grew fast, why it may run into walls, and what he believes is needed for a cleaner, more responsible version of prop trading.
This is Brendan at his frankest — sharp, grounded, and very clear about what changes are overdue.
Brendan Callan joined us fresh off the Summit’s most anticipated debate: “Is Prop Trading Good for the Industry?” Brendan argued against the motion — and the audience voted him the winner.
In this interview, Brendan explains the reasoning behind his position. He walks through the message he believes many firms avoid: that the current prop trading model is too dependent on fees, too loose on risk, and too confusing for retail audiences.
We discuss why he thinks the model grew fast, why it may run into walls, and what he believes is needed for a cleaner, more responsible version of prop trading.
This is Brendan at his frankest — sharp, grounded, and very clear about what changes are overdue.
Elina Pedersen on Growth, Stability & Ultra-Low Latency | Executive Interview | Your Bourse
Elina Pedersen on Growth, Stability & Ultra-Low Latency | Executive Interview | Your Bourse
Recorded live at FMLS:25 London, this executive interview features Elina Pedersen, in conversation with Finance Magnates, following her company’s win for Best Connectivity 2025.
🔹In this wide-ranging discussion, Elina shares insights on:
🔹What winning a Finance Magnates award means for credibility and reputation
🔹How broker demand for stability and reliability is driving rapid growth
🔹The launch of a new trade server enabling flexible front-end integrations
🔹Why ultra-low latency must be proven with data, not buzzwords
🔹Common mistakes brokers make when scaling globally
🔹Educating the industry through a newly launched Dealers Academy
🔹Where AI fits into trading infrastructure and where it doesn’t
Elina explains why resilient back-end infrastructure, deep client partnerships, and disciplined focus are critical for brokers looking to scale sustainably in today’s competitive market.
🏆 Award Highlight: Best Connectivity 2025
👉 Subscribe to Finance Magnates for more executive interviews, industry insights, and exclusive coverage from the world’s leading financial events.
#FMLS25 #FinanceMagnates #BestConnectivity #TradingTechnology #UltraLowLatency #FinTech #Brokerage #ExecutiveInterview
Recorded live at FMLS:25 London, this executive interview features Elina Pedersen, in conversation with Finance Magnates, following her company’s win for Best Connectivity 2025.
🔹In this wide-ranging discussion, Elina shares insights on:
🔹What winning a Finance Magnates award means for credibility and reputation
🔹How broker demand for stability and reliability is driving rapid growth
🔹The launch of a new trade server enabling flexible front-end integrations
🔹Why ultra-low latency must be proven with data, not buzzwords
🔹Common mistakes brokers make when scaling globally
🔹Educating the industry through a newly launched Dealers Academy
🔹Where AI fits into trading infrastructure and where it doesn’t
Elina explains why resilient back-end infrastructure, deep client partnerships, and disciplined focus are critical for brokers looking to scale sustainably in today’s competitive market.
🏆 Award Highlight: Best Connectivity 2025
👉 Subscribe to Finance Magnates for more executive interviews, industry insights, and exclusive coverage from the world’s leading financial events.
#FMLS25 #FinanceMagnates #BestConnectivity #TradingTechnology #UltraLowLatency #FinTech #Brokerage #ExecutiveInterview
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
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
