Bitcoin News Mash-Up: Bitcoiner Jailed; No Bitcoin Regulation; and More

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Bitcoin News Mash-Up: Bitcoiner Jailed; No Bitcoin Regulation; and More

Following are the major Bitcoin news of the day

Charlie Shrem Found Guilty of Abetting Illicit Transactions
Charlie Shrem, founder of BitInstant and former board member of the Bitcoin Foundation, was found guilty of abetting illicit transactions to online drug bazaar Silk Road. As a result, the 25-year old Bitcoin entrepreneur received a two-year jail term. US District Judge Jed Rakoff described the sentence as “probation-only”, while refraining from imposing a harsher verdict.

“I have no excuses for what I did. I broke the law and I broke it badly,” said a broken Shrem. “No one [in bitcoin] is doing this anymore, they’re terrified… Bitcoin needs to stay away from criminals, from people taking actions that I did […] I need to be out there… helping the world to make sure they don’t do a stupid thing like I did.”

You can read the full report here.

Brazilian Senate Rules Out to Regulate Bitcoin For Now
A new report presented by Brazil’s Federal Senate has advised avoiding regulating cryptocurrencies like Bitcoin in the wake of their limiting range in the country’s economy. The 18-page study has found both hailers and critics inside the Brazilian finance sector. You can read the full report here.

Bitcoin Enters Into the Nebraskan Territory
Bitcoin Company Alpha Bitcoin recently presented Nebraska their first cryptocurrency ATM machine, which is now installed just outside Jones Bros Cupcakes in Aksarben Village. The area meanwhile has become the 15th establishment to accept Bitcoin as one of the payment methods. You can read the full report here.

To contact the reporter of the story: Yashu Gola at yashu@forexminute.com