Bitcoin News Mash-Up: Intuit Integrates BitPay; Karpeles Scary Prediction; and More

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Bitcoin News Mash-Up

Following are the major Bitcoin and cryptocurrency news of the day

Intuit Integrates BitPay to Facilitate International Transactions
BitPay recently took to its blog to inform users about their integration into the renowned software company Intuit. Upon the service launch, businesses using Intuit QuickBooks Online will be able to offer their clients the option to pay bills with the cryptocurrency Bitcoin. The new feature comes under the banner of Intuit’s PayByCoin service. The blog reads:

“Businesses trying to collect payments from cross-border clients often find it cumbersome to negotiate a bank transfer. Similarly, businesses trying to pay vendors internationally also suffer the same headaches. With bitcoin, cross-border B2B transactions are simple and seamless, thanks to Intuit and BitPay.”

Mark Karpeles Warns Bitcoin Companies of More Thefts
Mark Karpeles, the former CEO of demised Bitcoin exchange Mt. Gox, recently warned the Bitcoin companies of more possible attacks. He suggested physical security measures such as the ones which are used to protect gold. The controversial CEO also recommended exchanges to use hubs with armed guards 24/7, point hardware based access and check records of all staff members.

New Tor Tool Helps Monitoring Bitcoin Attacks
Days after researchers described an attack that could reveal Bitcoin-Tor users’ identity, privacy experts developed a tool to monitor the attack. Dubbed as Torban, this website-cum-tool provides information about Tor’s exit nodes connected to the Bitcoin network.

Russia Reduces Fines for Using Bitcoin
The Russian Finance Ministry proposed to reduce the fines introduced in law against creating, issuing and promoting cryptocurrency. Speaking to CoinDesk.COM, Managing Partner of the law firm Tolkachev & Partners however criticized government by stating:

“None of arguments expressed in public discussion has been taken into account by the lawmakers. That is why we cannot see any positive changes in attitude of the Ministry of Finance toward bitcoin and other digital currencies.”

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