Finance

Russia bans bitcoin

Bitcoins and other virtual currency are not allowed in Russia, the country declared.

“The official currency of the Russian Federation is the ruble. Introduction on the territory of Russia [of] other monetary units [and] ... money substitutes is prohibited,” the country’s general prosecutor’s office said in a statement on Thursday, according to a translation provided by Google. 

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Bitcoin leader: Regulation should protect consumers

Government regulators have some role to play overseeing the virtual currency bitcoin, a top developer said on Thursday, but they should be sure not to crack down too harshly.

Gavin Andresen, chief scientist at the Bitcoin Foundation and one of the core developers behind the money, said that consumer protection was one way that governments could perform useful oversight.

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Coalition says gambling ban will fail like Prohibition

A nationwide online gambling ban would be unfair to states like Nevada and New Jersey whose economies depend on the industry and would encourage gamers to participate in illegal black markets around the world, a gambling group says.

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Judge approves $543M settlement for Madoff victims

The victims of Bernard Madoff's ponzi scheme will recover another $543 million under a settlement with JPMorgan Chase approved Tuesday by a federal bankruptcy judge.

The bank will pay settlements in a handful of lawsuits stemming from...

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