World Bank releases report saying bitcoin is not Ponzi scheme, while Ethereum trumps Facebook(IBTimes UK) <\/p>\n
The price of bitcoin has continued to slump, falling by a further 6% over the last 24 hours to take its value below $360. <\/p>\n
Most other major cryptocurrencies have followed in bitcoin's lead, with litecoin, dogecoin, darkcoin and namecoin all falling by between 4% and 6%. <\/p>\n
One of the biggest movers across all markets was czechcrowncoin. The unofficial altcoin of the Czech Republic shot up by more than 50%. <\/p>\n
Vitalik Buterin, the developer of the bitcoin 2.0 platform Ethereum, has beaten Facebook founder Mark Zuckerberg to a prize at the World Technology Awards. <\/p>\n
Buterin trumped Zuckerberg in the award for IT software, making him the only person from the digital currency industry to win an award this year. <\/p>\n
Other winners on the night included Tesla and SpaceX founder Elon Musk and co-founders of Y-Combinator Paul Graham, Jessica Livingston, Robert Morris and Trevor Blackwell. <\/p>\n
Finland has broken the conventional EU mould in its approach to cryptocurrency by classifying bitcoin as a financial service. <\/p>\n
The classification by the Finnish Central Board of Taxes makes bitcoin VAT exempt under Finnish law. <\/p>\n
\"By making bitcoins a recognized payment instrument, Finland has pushed it towards being regarded as a formal currency,\" Richard Asquith, vice president of global tax compliance at Alavara, told theInternational Tax Review. <\/p>\n
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