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New York proposes regulations for virtual currency (Update)

New York became the first U.S. state on Thursday proposed establishing rules for firms involved in receiving, transmitting and storing virtual currency. The proposal by the Department of Financial Services would establish ...

Bitcoin ATM builder targets money-transfer business

In a makeshift office - a living room crowded with desks, monitors and a beanbag chair - programmers are hacking away on computers, aiming to make their mark on the multibillion-dollar financial services industry.

Probing Question: What is Bitcoin?

In 1729, when he was 23 years old, Benjamin Franklin authored a pamphlet titled "A Modest Inquiry into the Nature and Necessity of a Paper Currency." The revolutionary idea he advocated? Paper money printed and controlled ...

Strong institutions reduce in-group favoritism

Ineffective social and political institutions make people more likely to favour their family and own local social group, while good institutions make them more likely to follow impersonal rules that are fair to everyone, ...

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