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Bitcoin

European stock markets join global downtrend

London - Al Maghrib Today

Europe's major stock markets churned lower Wednesday as investors took their cue from downbeat sentiment in Asia, while Wall Street resumed its upward trend. Virtual currency bitcoin meanwhile dived, falling below $10,000 for the first time in six weeks in what one analyst called a "cryptocalypse" that saw several digital units take a hammering. London stocks fell "as tradersRead more

Bitcoin slides to below $10,000

London - Al Maghrib Today

Bitcoin, the dominant digital currency, extended a slump Wednesday following a recent surge to trade below $10,000 for the first time since the start of December. Around 1410 GMT, bitcoin stood at $9,807.56 to record its lowest value since December 1 and a plunge of almost 50 percent since reaching a record high on December 18, according to data compiledRead more

Bitcoin bombs, cryptocoins crash

Paris - Al Maghrib Today

Bitcoin, the best known of hundreds of 'virtual' coins, slumped on Tuesday, January 16, to a 6-week low below $12,000 as analysts blamed a rush by various jurisdictions to regulate the sector. The final weeks of last year were marked by bitcoin mania as the unit topped $20,000, but it lost some 20% in Tuesday trading which saw most ofRead more

Bitcoin fever hits US real estate market

Miami - Al Maghrib Today

As bitcoin raced to another record high on Tuesday, one of the biggest providers of digital currency wallets, Coinbase, went down under the weight of traffic, leaving many of its more than 10 million customers unable to access their funds. At the same time, Bitfinex, the world's biggest bitcoin exchange by trading volume, said it was under a heavy denial-of-service (DDoS) attack,Read more

Cryptocurrency rivals snap at Bitcoin's heels

Paris - Al Maghrib Today

Bitcoin may be the most famous cryptocurrency but, despite a dizzying rise, it's not the most lucrative one and far from alone in a universe that counts 1,400 rivals, and counting. Dozens of crypto units see the light of day every week, as baffled financial experts look on, and while none can match Bitcoin's $200-billion euro ($242 bilion) market capitalisation,Read more

S. Korea govt sends bitcoin

Seoul - Al Maghrib Today

Bitcoin and other virtual currencies were sent on rollercoaster rides in South Korea Thursday as the government said it was planning to ban cryptocurrency exchanges, before later backtracking. Justice Minister Park Sang-Ki said Seoul was preparing a bill to shut down the country's virtual coin exchanges, sending bitcoin and other virtual unit prices into a tailspin. "The ministry is preparingRead more

Bitcoin: Big in Japan

Tokyo - Al Maghrib Today

Known as "Miss Bitcoin" on Japanese social media, Mai Fujimoto says she invests all of her savings in the virtual currency that has proved a huge hit in Japan. "I convert all my disposable income into cryptocurrency," the 32-year-old tells AFP. "I've been doing this for nearly a year now. I convert all my savings into cryptocurrency instead of puttingRead more

Egypt's mufti says bitcoin forbidden

Cairo - Al Maghrib Today

Egypt's grand mufti has said that bitcoin is forbidden in Islam, warning the digital currency could be used for criminal purposes. Bitcoin, launched in 2009 and based on a peer-to-peer payment system, poses "high risks to individuals and states," Shawqi Allam said in a published ruling. It could provide "stable and secure financial resources for terrorists and criminal groups," saidRead more

ECB governor calls for tax, regulation

Berlin - Al Maghrib Today

A top European Central Bank official on Wednesday called for governments to regulate and tax bitcoin, labelling the cryptocurrency an object of speculation and a tool for money laundering. "One ought to apply what the basic rule is in any other financial transaction: everyone involved should reveal their identity," ECB governing council member Ewald Nowotny told the German daily Sueddeutsche Zeitung. "WeRead more

Bitcoin falls on S.Korea curbs

Seoul - Al Maghrib Today

Bitcoin fell more than 11 percent after South Korea said on Thursday it would ban anonymous trading of virtual currencies and crack down on money laundering activities using them. The announcement came as the hyper-wired South emerged as a hotbed for cryptocurrency trading, accounting for some 20 percent of global bitcoin transactions -- about 10 times the country's share ofRead more