Russian lawmakers will likely ban the use of Bitcoin as legal tender by the end of their current parliament session as a precaution against funding for terrorism, organized crime and other illicit activities, according to a report from Russia Today.
Many Bitcoin enthusiasts believe the function behind the new tech is already superior to fiat currencies, and the reasons virtual currencies haven't taken over the world yet are perception based. Wences Cesares, CEO of Bitcoin security startup Xapo, says the technology needs broad international acceptance before it can be taken seriously, and organizations like his are pushing the message.
Startup Sound Wallet allows users of any kind of cryptocurrency to store their access codes on vinyl records or CDs, converting the keys to their digital fortune into an audio file, according to an article from CoinDesk.
For all of the notable security incidents involving companies dealing with Bitcoin and its variations, the technology behind cryptocurrency has been intriguing enough for investors and developers to take note. The infrastructure behind Bitcoin is innovative and flexible enough to be applied to other applications, such as securing the global payments system, according to FireEye founder Ashar Aziz.
Another phishing scam that takes advantage of flaws associated with Bitcoin has been uncovered, according to cybersecurity company Proofpoint. The email scam has targeted over 400 organizations, including those in higher education, financial services, high tech, media and manufacturing.
The Consumer Financial Protection Bureau released a consumer advisory highlighting known scams and shortcomings of cryptocurrencies. The agency also announced it would begin accepting complaints pertaining to specific virtual currencies or companies that deal in them.
In the latest HP Security Briefing, an expert from the company discusses Bitcoin and the real world security implications of cryptocurrency as a widely used mode of transaction.
A new type of ransomware discovered in June is making it more difficult to track down perpetrators because they hide in the anonymity of the Tor network.
Some financial agencies are moving past the critical and hesitant stage of dealing with Bitcoin into a more tolerant and regulatory phase. The idea is to make the Bitcoin market less susceptible to fraud and crashes, but enthusiasts fear that too much regulation will squash the cryptocurrency.
No matter how you look at it, mobile mining just doesn't add up, says Lookout, which noted in a blog post that "we just don't see a situation in which mobile miners can truly be profitable."