Cryptocurrency Highlights Of The Week

NY proposes BitLicense, Dell now accepting Bitcoin and Dogecoin’s hashrate halving. Here are the cryptocurrency highlights of week 29:

  1. The New York Department of Financial Services has issued a proposal on how they want to regulate cryptocurrencies. Under the proposal, businesses would have to learn the identity of their customers. They would also have to maintain a reserve equal to the amount they are holding for their customers, and undergo strict security audits.
  2. Google has added Bitcoin support to its currency conversion in Google Search. Google is working with Coinbase to support the conversions. The move follows on Google’s addition of Bitcoin to Google Finance last month.
  3. Dell is the latest company to accept Bitcoin payments. The computer hardware company is now the world’s largest ecommerce business to accept Bitcoin, according to CEO Michael Dell.
  4. Anthem Vault Inc, a precious metals dealer, has launched INNCoins. The currency is backed by physical gold, with the aim to make gold more acceptable as a form of currency. There will be 10 million INNCoins in total, which are expected to be fully in circulation by July 2015.
  5. Dogecoin block rewards halved this week. As a result, Dogecoin’s network hashrate also halved and went from about 90 GH/s to 45 GH/s. Even though the drop is severe, it comes after a recent surge in hashrate following the arrival of new Scrypt ASICs. It leaves the hashrate at the value it had two months ago.