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Didn’t get a chance to check out all the awesome news and features on CoinDesk this week? Don’t panic: here are the news highlights you may have missed out on.
Price of bitcoin falls under $500: The price of bitcoin dropped below $500 amid uncertainty whether the China government would try to prohibit banks from working with digital currencies.
Three China-based bitcoin exchanges suspend trading: BTC38 was the first to suspend fiat-to-digital currency trading after a shift in policy from the People’s Bank of China. OKCoin and FXBTC followed hot on its heels.
eBay adds ‘virtual currency’ category to US site: eBay’s US website introduced a ‘virtual currency’ category where sellers can list virtual currencies, mining equipment and mining contracts. Even though eBay is still not accepting bitcoin as an official payment method, digital currencies are definitely on the Internet giant’s radar.
Bitcoin community debates over IRS ruling: There has been much debate following the IRS ruling, which declared that digital currencies would be taxed as property, not currency. While some people think the ruling is unrealistic, especially for smaller transactions, others are keen to see bitcoin being treated as digital gold.
John Law’s weekly roundup has been moved to Sunday.