Germany's Bitcoin Group is facing increased oversight from the financial regulator BaFin, which has identified significant weaknesses in its subsidiary Futurum Bank's measures for anti-money laundering and counter-terrorism financing. This action highlights the growing emphasis on regulatory compliance in the cryptocurrency industry, particularly concerning financial crimes. In response to the regulator's findings, Bitcoin Group has recognized the importance of these concerns and has committed to resolving them. The company has stated that there are currently no signs of violations in its anti-money laundering or counter-terrorism financing practices. However, this does not completely alleviate the gravity of BaFin's observations. BaFin's criticism focuses on substantial deficiencies in Futurum Bank's internal controls, including

Bitcoin Group SE applies for German crypto-custody business license

Bitcoin Group SE, a German-based bitcoin exchange company, announced today it plans to submit the application for permission to conduct crypto-custody-business to the Federal Financial Supervisory Authority (BaFin). The application has become necessary within the framework of the Act to Implement the Amendment Directive to the Fourth EU Money Laundering Directive.

Accordingly, the…

Expanding my Bitcoin Mining Operation in Okanogan WA USA

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Expanding my Bitcoin Mining Operation in Okanogan WA USA

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Droht die nächste Bitcoin-Teilung (Split)?

Der Bitcoin hat die internationalen Wirtschaftszeitungen erobert. Kaum ein Fachblatt rund um die Ökonomie, die nicht zum Bitcoin etwas zu schreiben und veröffentlichen hat. Mal sind es die alten Vorwürfe, mal die nächste große Prophezeiung. „Wallstreet-online“ empfiehlt seinen Leser zum Beispiel den Kauf der Bitcoin Group Aktie, die sie für eine der Sensationen 2017 hält. Der elitäre „Aktionär“…

WILL BITCOIN USE LEAD TO AN INCREASE IN CYBER-CRIME?

Bitcoin Group - The IPO Journey

Local Melbourne Bitcoin miner, Bitcoin Group, is set to become Australia’s first Bitcoin mining operator to publicly list on the ASX through an IPO. They currently produce approximately 1.45% of the global mining output and operate 5.3 peta-hashes of mining hardware in seven mining sites across China, Iceland and Australia.

Bitcoin Group aims to raise $20 million from the listing early in September and plan on using the transparency and security that comes with being a publicly listed company to bring a greater amount of attention to the Bitcoin Industry.

We invite you to join us as we learn more about the motivations that have driven the Bitcoin Group towards an IPO and to hear about the trials and tribulations that come with embarking on such a monumental journey.

More specifically, we will hear about:

•  the reasons why cornerstone investors decided to place their confidence in them;

• the process of dealing with ASIC; and

• some of the other challenges faced when listing a company on the ASX ticker.

Reuben Bramanathan - An Australian Bitcoin Regulatory Update

As most who are involved in the Bitcoin startup community know, the way in which the law interacts with Bitcoin is complex and often times perplexing.

This month we're also joined by Reuben Bramanathan to give us an overview of the current regulatory landscape here in Australia for Bitcoin.

Reuben is a Senior Lawyer at Adroit Lawyers.  He is a lawyer and chartered tax adviser.  Reuben focuses on tax and legal issues for startups and small businesses.  His expertise includes dealing with regulatory and tax issues for Bitcoin and Digital Currencies startups.  

Reuben was involved in consultation with the ATO leading up to the release of the ATO's guidance on the taxation of Bitcoin.  He is also the host of Sydney Bitcoin Professionals meetup group.

Schedule For The Night

6.30pm: Drinks and networking on the deck of MBTC

7.00pm: Bitcoin Group IPO Journey

7.30pm: Reuben Bramanathan - Bitcoin Regulation Update

8.00pm: Conclusion Of Proceedings

8.00pm - 9.00pm: Drinks and networking on the deck of MBTC

See you at the event!

Gallery: Melbourne Celebrates Chinese New Year With Bitcoin Giveaway

19 February 2015 | Yessi Bello Perez | Coindesk.com

The Melbourne Bitcoin Technology Centre (MBTC) has partnered with the Bitcoin Group to give away the digital currency in Melbourne’s Chinatown precinct.

The “lucky money” envelopes containing a bitcoin paper wallet were handed out to passers by and merchants to mark the Chinese New Year.

Pantelis Roussakis, communications manager at MBTC, said:

“During the Chinese New Year celebrations people wear red clothes, exchange decorative poems on red paper and give out ‘lucky money’ in red envelopes. Today amidst the New Year festivities in Melbourne’s bustling Chinatown, we hit the streets, giving people a paper bitcoin wallet, instructions and good wishes for the New year.”

The giveaway marks the start of the Melbourne Chinatown project, part of the National Bitcoin Boulevard campaign, which launched across the country in November.