Recapping the week’s biggest Bitcoins stories from around the web.
Bank of Tokyo launches its own digital currency. Pete Rizzo of Coin Desk reports that Japan’s largest bank seeks to enter the cryptocurrency space with the recent development of its own digital currency, known as MUFG coin. The Bank of Tokyo-Mitsubishi UFJ has been involved in the launch of its own cryptocurrency following thorough research on the blockchain technology. The goal of this venture is to leave the network of miners on the outside when replicating the peer-to-peer (P2P) exchange and to lower the managing costs of financial transactions. The trial of MUFG coin was initiated last fall.
Putin’s new internet advisor considers bitcoin transactions a crime. As Samburaj Das of CryptoCoins News writes, German Klimenko, Putin’s newly appointed internet counsel, has allegedly claimed that accepting bitcoin as a payment constitutes a criminal action. Following the long-standing debate in Russia whether the bitcoin should be regulated or not, Klimenko considers the digital currency a threat to the national economy, claiming that other countries around the globe should also put a stop on the use of bitcoin before it becomes “critical”. Klimenko reportedly stated that “Accepting bitcoin as a