Bitcoin News Mash-Up: Red Cross Accepts Bitcoin; Kraken Joins Mt. Gox Investigation; and More

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Bitcoin News Mash-Up

Following are the major Bitcoin news of the day

American Red Cross Now Accepting Bitcoin Donations
The American Red Cross group recently announced to accept donations in Bitcoin, thanks to their nonprofit agreement with the Bitcoin payment processor BitPay. The charitable organization also announced to be a part of upcoming Bitcoin Black Friday, where they will seek Bitcoin users to buy gifts for people in need.

Elizabeth Ploshay, BitPay’s nonprofit project director, said: “Bitcoin users are extremely passionate people who are looking to put their bitcoin towards good causes. I’m sure the community will be excited to have such an established charity to donate to.”

Kraken to Assist in Pending Mt. Gox Settlements
Kraken, the San Francisco-based cryptocurrency exchange, has been selected to resolve the settlement and investigation issues of the demised Mt. Gox exchange. As Kraken boards the project, Mt. Gox creditors are hopeful to recover a slight amount of their investments back. The US Bitcoin exchange itself confirmed their expected involvement in recovering the lost or stolen Bitcoin from Mt. Gox.

UK Minister Calls Bitcoin an “Opportunity”
UK Shadow Minister Chi Onwurah believes that cryptocurrency like Bitcoin is a real opportunity to be controlled by those who owns it. Onwurah, who is also MP for Newcastle upon Tyne Central, directs a study by the Labor Party analyzing how digital technology can improve the effectiveness and efficiency of public services. The minister said there is no rush to regulate Bitcoin and other digital currencies, but it is necessary to modernize the institutions to address the opportunities and challenges of the XXI century.

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