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Asian Banks Demanded Ransom Amount in Bitcoin

Hackers who demand extortion money in Bitcoin are attacking websites of Asian Banks.

Hong Kong's largest banks have recently been under attack from hackers, supposedly from abroad. They launched a DDos attack on the Banks' websites. The Bank of China and the Bank of East Asia are two prominent banks in the region and confirmed that they had such an attack on May 9.

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Bitcoin's Founder Revealed by New York Times

There have been various speculations over who is the real founder of the revolutionary, crypto currency Bitcoin. New York Times revealed that Satoshi Nakamoto's real identity is Nick Szabo in a recent article.

Some supporting evidence that the article published by New York Times gives is:

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USAA's Research Team Will Probe Further Into Bitcoin's Development

A Texas based financial institution, USAA, has recently announced that it has been studying Bitcoin's technology and it will use its research facilities to help support the development of Bitcoin. This interest from a major banking institution signifies good growth potential for Bitcoin.

A major player in the banking, insurance and the investment management realm, USAA's management director of corporate development said that Bitcoin's "Decentralized System" can help USAA's banking operations adopt to the same theme.

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Bitcoin Exchange Receives License From New York’s Financial Authorities

ItBit is the first company to receive its licence to work under the newly crafted virtual currency laws in New York. ItBit will work as a regulated Exchange that will trade in virtual currency.

There is no doubt that Bitcoin's ultimate potential lies in its ease of use and its decentralized system. With regulation coming into the Bitcoin arena, we can hope that Bitcoin will finally fulfill its goals.

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The Rise of Insured Bitcoin Exchanges in Asia

CoinHako, a Singapore based Bitcoin exchange, has recently announced that it has formed a partnership with BitGo, a leading secure Bitcoin wallet, that will protect its assets against loss from theft and hacking of any sort.

This recent rise in insured Bitcoin exchanges will make it more secure to conduct transactions through such exchanges, as your money will be protected by insurance. Safety and security have always been the greatest concerns regarding Bitcoin transactions. Unpleasant experience with exchanges like Mt Gox have alerted other exchanges in the Asian Bitcoin market to become more aware of the financial regulation and security needed for crypto currency exchanges.

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Bitcoin Brains Acquired by BitNational

A Canadian based Bitcoin exchange, BitNational, has acquired Bitcoin Brains Inc. BitNational will be able to increase its market share in the Bitcoin brokerage arena with this partnership.

BitNational’s Calgary based operations will be able to expand their operations to more Canadian locations. This will allow BitNational to move a step closer to developing a nationwide network of Bitcoin exchanges.

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