Since its inception, Butterfly Labs has been the center of suspicion and gossip in the Bitcoin community. The company often offered preorders on what they advertised as state of the art Bitcoin mining rigs, accepting payment for the preorders, and then taking long periods of time to ship out the rigs. By the time customers got their machines, the hashing rate had increased to a point where the machines could no longer efficiently mine Bitcoin—despite being advertised as having great ROI’s.

http://www.coinfinance.com/news/butterfly-labs-wants-approval-to-re-open-its-doors

The Chamber of Digital Commerce (CDC) is now officially recognized as a tax exempt, non-profit organization by the Internal Revenue Service of the United states of America (IRS). Categorized under 501 (c) (6) of the IRS tax code in the United States, the CDC will no longer have to pay federal taxes on the money it receives from donations. This tax exempt status is the norm for most large non-profit organizations, with groups like United Way, the Ludwig von Mises Institute, and even the Bitcoin Foundation falling under this federal tax exempt status.

http[Suspicious link removed]mpt-status-from-irs

New Hampshire, the “Live Free or Die” state, will be receiving a batch of Bitcoin ATMs within the next month, according to the New Hampshire Business Review (NHBR). NHBR go in contact with Peter Klamka, the CEO of Bitcoin Brands, who said that there were “several businesses” in New Hampshire that accept Bitcoin as payment for their goods and services. The installation of the new ATMs would make it easier for Bitcoin users or curious individuals to buy bitcoins that they can then use at those several businesses in New Hampshire. Bitcoin brands is a company that develops Bitcoin payment technologies, including ATMS.

http://www.coinfinance.com/news/bitcoin-atms-coming-to-new-hampshire

The debit cards are being provided by CoinJar, a Bitcoin company that is based in Melbourne, Australia. CoinJar is handing out the debit cards as part of a tiral run, to see if the system they have set up for Bitcoin payments using the cards works in storefronts. The company will be giving out 100 Bitcoin debit cards to customers that hold accounts with CoinJar, so that they can test out the reliability of CoinJar’s Bitcoin debit card system.

http://www.coinfinance.com/news/first-bitcoin-debit-cards-handed-out-in-australia

Huobi, a popular Chinese Bitcoin exchange, has launched a new Bitcoin exchange that allows customers to buy and sell bitcoins in terms of United States Dollars (USD). The exchange is called BitYes, and it was launched last Saturday at the Huobi’s first anniversary celebration party.

http://www.coinfinance.com/news/huobi-launches-usd-bitcoin-exchange

Last week ended on September 13 at $476, after a week of flat activity in the $470-$480 range. The Bitcoin price remained in that range for the first day of this week, September 14, but began falling on the night of Monday, September 15. Between the hours of 6 PM and 8 PM, the price fell from $476 to $468. After this drop, the price embarked upon a steady, downward slide.

On Tuesday, the 16th, the price went from the low $470s to the low $460s. Then, on the 17th, the price began falling faster. Between 3 AM and 6 AM, the Bitcoin price fell from $462 to $455, and was in the $440s by the afternoon.

The 18th started out in the high $440s to low $450s range, but took a drastic downward turn in the early morning hours. At 7 AM, the price dropped from $449 to $441, and dipped into the $430s at 8 AM. The price continued to fall well into the afternoon; by noon, the price was in the $420s, and fell all the way to $407.94 at 2 PM

http://www.coinfinance.com/news/a-brief-report-on-recent-bitcoin-price-activity

TeraExchange, a New Jersey-based investment service, has launched a derivative swap based on Bitcoin. In order to get approval from the Commodity Futures Trading Commission, the US federal agency that regulates financial trades like derivatives, TeraExchange had to wrestle back and forth with bureaucrats and red tape for half a year, taking all the necessary steps to become compliant with United States financial law.

TeraExchange has been having difficulties getting their Bitcoin swap approved due to a decision by the US Treasury, made last year, to classify Bitcoin exchangers as money transmitters. This classification put companies like TeraExchange under the control of the individual state governments, making it difficult to become compliant while only having receiving “fractured” responses from regulatory bureaucrats at the federal level.

http://www.coinfinance.com/news/us-regulators-approve-first-bitcoin-derivative-swap

CoinDesk reported on September 11, 2014, on a new report about Bitcoin that came from the Bank of England, the central bank that controls the monetary policy of the entire country of England.

This report was the second part of a two-part study done by the Bank of England on Bitcoin and digital currencies in general. In the first part of the study, the Bank determined that Bitcoin was a commodity.

The Bank of England said that, ultimately, Bitcoin was an incredibly innovative technology, but that there was no way that Bitcoin could ever operate on a wide scale. The new study cited old clichés posited by many Bitcoin skeptics in the past; the Bank said that price volatility and the risk of diminished returns for Bitcoin miners contributed to an instability in the digital currency that would prevent it from becoming a primary method of payment.

http://www.coinfinance.com/news/bank-of-england-releases-new-bitcoin-study

Bitcoin acceptance continues to increase in Japan, a country known for its advanced technology, with the unveiling of a new e-commerce platform for Bitcoin.

Coincheck offers several Bitcoin services in one platform; it serves as a Bitcoin wallet, an exchange, and a payment processor for merchants. Coincheck boasts a feature called Coincheck for EC, which aims to improve the speed and ease of using Bitcoin to buy a good in a physical store. This new feature will be made available to the public on September 14, 2014.

http://www.coinfinance.com/news/japan-unveils-new-e-commerce-platform-for-bitcoin

Chinese Yuan (CNY) now makes up 71% of the total, global Bitcoin trading volume. This information came from a tweet made by BTC-China, a popular Chinese Bitcoin exchange. In the tweet, the Bitcoin exchange linked to a chart provided by bitcoinity, a Bitcoin chart provider.

http://www.coinfinance.com/news/chinese-yuan-trades-now-71-of-total-bitcoin-trading-volume

The airline will be processing the Litecoin and Dogecoin payments through GoCoin, a payment processor that helps business accept Bitcoin, Litecoin, and Dogecoin as payment for their goods and services. Additionally, CheapAir has started an e-support service to help customers with any problems they may run into when trying to pay for their flights in crypto-currency.

http://www.coinfinance.com/news/cheapair-now-accepting-litecoin-and-dogecoin

A man who was accused of doing business on Silk Road, a DarkNet drug market, was the victim of mistaken identity, and that he was not actually involved with the drug market.

http://www.coinfinance.com/news/charleston-man-accused-of-selling-drugs-for-bitcoin-on-silk-road-victim-of-mistaken-identity

Xapo, a popular online Bitcoin wallet provider and Bitcoin storage service, has recently announced that they would be excluding the state of New York from their service area—in the event that New York’s BitLicense regulation becomes a state law.

http://www.coinfinance.com/news/xapo-threatens-to-abandon-new-york-customers-due-to-bitlicense

The Dig-VC is essentially a guaranteed interest return on an investment in the exchange. Customers can invest a base sum of money into the exchange and, at the end of a 60 day period, those customers will receive a guaranteed 1.2% return per month. Huobi is able to ensure these returns by backing them through their Digcoin service, a Bitcoin mining platform service. The Chinese exchange added an incentive to their promotion of the Dig-VC in order to stir up more market demand, promising to add an additional 0.02% per month at the end of the 60 days to the first 100 customers.

http://www.coinfinance.com/news/huobis-fixed-return-financial-product-sells-out-fast

The University of Zürich, Switzerland’s largest university, will be a Bitcoin payment system—developed by a student of the university—into one of the school’s cafeterias. This implementation is part of a two-week trial being conducted by the school.

http://www.coinfinance.com/news/largest-swiss-university-to-implement-new-bitcoin-payments-system

Andreas Antonopoulos will be leaving his job as Chief Security Officer at Blockchain and will be taking up a role as an advisor to the Board. Andreas was brought into Blockchain as the Chief Security Officer (CSO) in the early days of the companies operation. In just one year, the company has become a multinational business, with the most popular Bitcoin web wallet on the market. Antonopoulos has overseen the security aspect of the company throughout the company’s short, 1-year life. Blockchain posted the announcement that Andreas would be assuming this new, advisory role on their official blog on August 31, 2014.

http://www.coinfinance.com/news/antonopoulos-changes-roles-at-blockchain

After enjoying a week of stability and flat volatility, the Bitcoin price is on the move again. Early on the morning of Sunday, August 31, 2014, the price fell below $500 and continued to fall well into the day.

http://www.coinfinance.com/news/bitcoin-price-falls-below-500-the-start-of-another-decline

Huboi, a Chinese Bitcoin exchange, has undergone a proof-of-reserves audit, the report of which has been made available to the public via a post on Bitcointalk.org. The audit was conducted by Stefan Thomas, the original poster of the Bitcointalk thread regarding the audit, CTO of Ripple Labs, and an administrator of Bitcointalk.org.

http://www.coinfinance.com/news/huboi-passes-proof-of-reserves-audit-reserves-at-103-52

BitPay, a Bitcoin payment processor, has struck a deal with Demandware, Inc. that will spread merchant adoption in the Bitcoin economy. Demandware is a “cloud e-commerce solutions provider,” and has contracted with BitPay to integrate Bitcoin into its e-commerce platform. Demandware provides pre-built payment integration systems to e-commerce merchants. Thus, by allowing BitPay to add Bitcoin to the company’s systems, any merchant that is a customer of Demandware will be able to accept bitcoins as payment without going through any extra work.

http://www.coinfinance.com/news/bitpay-deal-ensures-wider-bitcoin-acceptance

The CDC’s 10 page response to the NYFDS criticized nearly every aspect of the proposed BitLicense regulation. Among the many criticisms, the Chamber suggested that the Department revise their definitions of “virtual currency” and “virtual currency business activities,” so that it is far less broad, in order to prevent the regulation from impacting Bitcoin businesses that should not actually fall under the BitLicense regulations.

Additionally, the Chamber of Digital Commerce recommended that there be an exemption in the BitLicense regulations for startups and small businesses, which are companies that employ 100 people or less, according to New York state law. This exemption would, in theory, provide the consumer protection that the NYDFS is seeking without restricting the growth of the Bitcoin economy in New York.

http[Suspicious link removed]mption-to-bitlicense