Following are the major Bitcoin news of the day
Blockchain.INFO Returns Lost Funds, Apologizes to Users
Blockchain.INFO made a public apology to its users for the inconvenience they faced due to a security breach that took away a total of 250 BTC from them. The company also ensured to reimburse the lost funds, while explaining the root cause of the breach. To read the full report, visit here.
SecondMarket Wins USMS Bitcoin Auction, Buys 48,000 BTC
Barry Silbert, former CEO of SecondMarket, informed the media about them winning the second Bitcoin auction held by USMS, after buying a whopping 48,000 BTC (equivalent to $16.8 million at press time). Silber, who earlier left SecondMarket, formed a syndicate with the company with his very own private-trust Bitcoin Investment Trust. Reportedly, the syndicate won 19 of the total 20 bids, while the remaining one was won by the last Bitcoin auction winner Tim Draper. To read the full report, visit here.
New York Tax Office Exempts Bitcoin Users from Paying Sales Tax
The New York State Department of Taxation and Finance published a document recently that allowed Bitcoin users to skip paying sales taxes if the cryptocurrency is being used in barter transactions. The document referred to virtual currencies as some form of intangible property, which is not subjected to any sales tax law if being used to pay for any untaxable good or service. To read the full report, visit here.
To contact the assembler of the stories: Yashu Gola at firstname.lastname@example.org