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  • April 21, 2014
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  1. Business - Banking & Finance - FINANCE

    US slaps tax on bitcoin as IRS deems it to be 'property'

    Posted Mar 27th 2014, 01:21am by SHIRLEY ZHAO

    ... Shirley Zhao shirley.zhao@scmp.com HK urged to take firm position on bitcoin tax Hong Kong should have a clear stance on regulating the bitcoin virtual currency and whether it should be taxed, financial analysts say. They were speaking after a decision by the United States Internal Revenue Service on Tuesday to treat virtual currency as property for tax purposes, instead ...

  2. Business - Banking & Finance - FINANCE

    Bitcoin investors cash in as US says it could embrace the virtual currency

    Posted Nov 20th 2013, 02:55am by DANNY LEE, Angela Meng and Adrian Wan

    ... Danny Lee, Angela Meng and Adrian Wan A positive US senate committee hearing on the digital currency has raised its value, and hopes it will keep on rising if criminals are shut out Early investors find richpickings in bitcoin surge Thousands are cashing in on the soaring value of bitcoins after the US signalled it could embrace the red-hot digital currency. The value of a single ...

  3. News - Asia - FINANCE

    Mt. Gox bitcoin exchange to liquidate after bankruptcy protection rejected

    Posted Apr 17th 2014, 01:24am by AFP

    ... application. Mt. Gox said yesterday the Tokyo District Court decided the company, which was a trading platform and storehouse for the bitcoin virtual currency, would not be able to resurrect itself ... in the exchange's systems. Later, Mt. Gox found 200,000 of the bitcoins, changing the estimate for the lost virtual currency to 650,000 bitcoins, although the exact amount is still under investigation. Mt ...

  4. News - World - FINANCE

    850,000 bitcoins lost as Mt Gox exchange files for bankruptcy

    Posted Feb 28th 2014, 07:04pm by Danny Lee and Agencies

    ... filing, Japanese Finance Minister Taro Aso said: "No one recognises them as a real currency. I expected such a thing to collapse." Japan's financial regulators have been reluctant to intervene in the Mt Gox situation, saying they do not have jurisdiction over something that is not a real currency. An embattled Karpeles looked tired and resigned as he appeared in front ...

  5. News - World - FINANCE

    Customers turn to paper to secure their bitcoin funds

    Posted Feb 28th 2014, 11:21pm by DANNY LEE

    ... digital currency say. Following Japanese company Mt Gox filing for bankruptcy, users are turning to traditional pieces of paper to keep their expensive digital currency secure. The high-profile Tokyo exchange lost bitcoins worth millions of dollars when it fell victim to cybercriminals. The digital heist has triggered an investigation in Japan, and has left fans of the online currency ...

  6. Business - Money - FINANCE

    ‘Through train’ direct share-trading between Hong Kong and Shanghai ready within six months

    Posted Apr 10th 2014, 02:49pm by Enoch Yiu

    ... later over concerns it would surrender too much control over cross-border flows of its tightly managed currency. Beijing's appetite for easier controls has grown since then. A series ...

  7. News - World - FINANCE

    Alleged bitcoin founder Dorian Nakamoto hires lawyer to clear name

    Posted Mar 18th 2014, 09:07pm by AP

    ... Associated Press in Los Angeles Engineer hires lawyer to bolster his denial of magazine claim that he invented digital currency Man fingered as bitcoin founder seeks legal help The man Newsweek claimed is the creator of bitcoin has hired a lawyer in an attempt to clear his name, repeating a denial that he has ever had anything to do with the digital currency. Dorian Satoshi ...

  8. News - Business - FINANCE

    Australia to invest foreign currency assets of A$1.9b in Chinese bonds

    Posted Apr 25th 2013, 12:00am by Victoria Ruan

    ... Victoria Ruan in Beijing victoria.ruan@scmp.com Central bank will invest A$1.9b, or 5pc of its foreign currency assets, in sovereign securities as bilateral economic ties increase Australia to buy Chinese bonds Australia's central bank plans to invest about 5 per cent of its foreign currency assets, or A$1.9 billion, in Chinese government bonds due to the growing ...

  9. News - World - FINANCE

    US federal prosecutor investigating failed bitcoin exchange Mt Gox

    Posted Feb 27th 2014, 11:30pm by BLOOM

    ... that deal in the virtual currency to seek information on how they handled recent cyberattacks. Bharara and the Federal Bureau of Investigation are also probing possible criminal violations tied to the shutdown of Tokyo bitcoin exchange Mt Gox. Mt Gox, which had the largest market share of all digital-currency exchanges as recently as last April, went offline on Wednesday after halting customer ...

  10. News - World - FINANCE

    Concerns persist that bitcoin aids crime as US probes online bazaars

    Posted Feb 17th 2014, 11:21pm by AP

    ... Associated Press in New York US officials say probes of Liberty Reserve and website Silk Road demonstrate how anonymity of virtual currency attracts wrongdoers Fear that bitcoin aids crime ... of Liberty Reserve and the hidden website Silk Road, a bazaar for drugs and other contraband, demonstrate how the anonymity inherent in the use of virtual currency is attracting criminals. ...




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