The cryptocurrency world saw more activity than during the , but the movement in bitcoin and litecoin prices continued to grab headlines.
Startups to California’s proposed virtual currency regulations, which were recently amended in a favorable manner for the industry. The draft bill, approved last month, does not impose additional virtual-currency specific rules, rather the rough equivalent of money services business licensing.
The island of Jersey on regulation, launching a public consultation for input.
Investors showed their faith in the mining industry, another $20 million into BitFury, its third round this amount. Mobile bitcoin wallet startup Airbitz reportedly $450,000 from venture capital firm Block26.
A large spam attack on the Bitcoin network created a backlog of unconfirmed transactions, and the effects .
Bitcoin prices increased despite technical glitches and concerns over scalability, likely in part due to the continued uncertainty in the Greece crisis. Bitcoin closed the week at $292, rising by 14.5%- its best week in months.
Litecoin finished the week higher by only 6.3%, giving up almost all of its gains after more than doubling to $8.63. Trading turned violent when it reversed sharply lower, giving up 58% in roughly 24 hours. The drop may have represented the pin that pricked litecoin’s bubble, which had grown exceedingly inflated and raised suspicions of price manipulation.
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