Some reward programs aren’t really rewarding. In fact, some are downright harmful to consumers. That was apparently the case with an Ohio-based smartphone app developer that recently agreed to settle charges that it hijacked consumers’ phones through a seemingly innocuous gaming app. [More]
Nearly a year after the New York Department of Financial Services took steps to regulate businesses that operate in virtual currency, the Department announced the finalization of the “BitLicense” plan, making it the first set of guidelines for the use of cybercurrency. [More]
The virtual Bitcoin currency moves even further into the mainstream as Georgia Tech has reportedly become the first major university to make a deal that will allow the use of Bitcoin for student purchases at dining halls and sporting venues. [More]
A very select group of merchants who use PayPal now have another option when it comes to receiving payments. The digital wallet company will soon offer digital goods sellers the ability to accept bitcoin as payment through its Payments Hub service. [More]
Most financial investments come with significant risks and uncertainties. The mostly unregulated world of virtual currency is no different and U.S. regulators are warning consumers of a “Wild West” environment where there may be little to no recourse should things go south with their digital wallets. [More]
Planning a trip? Don’t worry about pulling our your credit card to reserve that hotel room, Expedia is now accepting bitcoin as a form of payment.
Last week, Senator Joe Manchin of West Virginia wrote to the heads of the Treasury, Federal Reserve, FDIC, SEC, CFTC and the Comptroller of Currency to demand a ban of Bitcoin, saying the virtual currency “has allowed users to participate in illicit activity, while also being highly unstable and disruptive to our economy.” Using almost identical arguments, another lawmaker has written the same regulators calling for an end to cash money. [More]