Darkcoin is rebranding to DASH, and the UK is planning to regulate Bitcoin. Here are the cryptocurrency highlights of week 12:
- Darkcoin will be rebranding to DASH, short for digital cash. Even though the underlying technology will not be changed, Darkcoin’s value has surged by almost 50 percent over the past week reflecting expectations that the coin’s reputation will improve significantly. The new name will officially be used as of March 25, 2015.
- What is the world coming to when you cannot even trust an online drugs market place on the dark web. Evolution, the biggest drugs marketplace has shut down, and it has taken its users’ Bitcoin deposits with it. The setup for this scam must be ones of the best ones yet, given that the users are not likely to turn to the police.
- Bitcoin regulation is coming to the United Kingdom. The Treasury has announced it has plans to regulate digital currencies, but an actual proposal to do so will not be brought forth until the next parliament meeting.
- Credit Suisse, a global financial services company headquartered in Zurich, has published an article titled “Bitcoins – Money Without Physical Form”. According to the company, Bitcoin should be combined with the traditional banking system. Credit Suisse also notes that Bitcoins have cost advantages over credit cards and providers such as MasterCard and Western Union. The latter organizations are well known for their strong statements against the digital currency.
- The previous week the price of Bitcoin got close to touching $300, but ended at $284. This week, the digital currency lost more than eight percent of its value and is now trading at about $260 per coin.