G7 Pledged Support for 'Appropriate' Bitcoin Regulation at June Summit

G7 Pledged Support for 'Appropriate' Bitcoin Regulation at June Summit

Representatives at a Group of Seven (G7) meeting in Germany this June announced support for "appropriate regulation" of virtual currencies. A global organization comprised of the heads of state from some of the world's largest economies including Canada, France, Germany, Italy, Japan, the UK and the US, the G7 met in Bavaria on 7th and 8th June. According to the group's summit statement, the G7 is looking to oversee digital currency activity through the lens of terrorism financing, which it deemed "a major priority". Part of this process, the statement read, includes regulating emerging....


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Silk Road's Ross Ulbricht Gets Over $1 Million Pledged For Bail

Ross Ulbricht - the now infamous operator of the [Bitcoin-based] Silk Road online drug trade - has had over $1 million pledged to use as bail money by friends and family. Ulbricht is currency in a jail pending trial. Ulbricht's parents have apparently pledged $700,000 in equity from their home, his sister has pledged her savings of $36,600, and his aunt $200,000 in home equity. In a letter from Tuesday [19 November 2013], Ross Ulbricht's counsel Joshua Dratal notes that Ulbicht's bail hearing is scheduled for the 21st of November [tomorrow]. The letter also reads: