While there are countries such as the UK where Bitcoin is widely supported by the government, and implemented into many parts of people’s daily lives, there are also places where the digital currency is seen as anything other than an actual currency.

Such is the example of the United States Government, which has been refraining from calling Bitcoin a currency. In fact, it’s not surprising that the world’s richest country when it comes down global finance has decided to define Bitcoin as a commodity. This comes as a response to the settlement between the Commodities and Futures Trading Commission with Coinflip, Inc., after the company’s CEO reportedly operated an exchange which sold Bitcoin without following the appropriate regulations defined for it.

Surprisingly, after a couple of years of stating that Bitcoin has no future and that it does not represent a trustworthy digital currency, the governments are interested in both the coin, but also the system powering it up- The Blockchain.

With this in mind, during the last couple of months, there have been continuous reports discussing how banks, institutions and governments would like to leverage the power and resiliency of the Blockchain, in order to implement a smarter financial system, which would allow people from all around the world to carry out transactions faster, which would then be permanently recorded into the public ledger, known as the Blockchain.

In the last couple of weeks, China has been in the media spotlight, as its stock market plummeted to the ground. It also seems like every time the value of a market changes, regardless of its niche, fingers are pointed towards China as the cause, but this isn’t necessarily true.

However, there is one market upon which the events which have unfolded in China can have an important influence, and that is the market of Bitcoin. Basically, Bitcoin was devised with the idea to protect the world from the similar crises to the one which is happening in China.

Ever since the civil war started and Russia invaded Crimea, Ukraine has been in a constant crisis, which reshaped the country, the government and its laws, while also greatly changing the region and slowly transforming it into a different land.

So far, there have been few countries affected by economical disasters, which begun looking into the possibility of adopting Bitcoin. Some examples include Greece and Zimbabwe, but it’s like that Ukraine might join the ship as well. According to the latest reports, it looks like Ukraine may soon legalize Bitcoin and look for ways to promote the digital currency in the region. With this in mind, the National Bank of Ukraine, also known as the NBU is looking into the possibilities of implementing the bitcoin technology into the country’s financial system.

We are all well-aware of the fact that there is no central authority over Bitcoin. However, decisions are made by the upper echelons of Bitcoin developers in terms of how the core software, also known as the Blockchain needs to evolve, especially now since there are a high number of Bitcoin users on the market.

Disagreements at this level can lead to trouble. With this in mind, a spat between the Bitcoin developers has been gradually forming, and it has recently gotten so bad, that a group of people actually launched a new version of the core software on their own, without getting the approval of the other developers. Having two technologies for the same scope is a threat to the cryptocurrency which can splinter the community, while also destroying the value of bitcoin, which is known to be extremely volatile.

We’ve covered the Mark Karpeles arrest a couple of days back, as the Bitcoin community had finally received some great news, thanks to the fact that the Japanese authorities have arrested Karpeles, the CEO of Mt Gox, which was one of the world’s largest Bitcoin exchanges, where over 70% of the transactions were carried out 2 years ago.

Chances are that you may already be aware of the fact that Greece has been hit hard by the economic crisis, with tons of money being needed in order to put the country back on its feet. However, this economic disaster did not only affect the government and businesses, but also the people, who were stopped from withdrawing more than a certain sum on a daily basis, which is certainly not a very democratic move made by the country’s banks.

The United Kingdom is gradually becoming a global hub for bitcoin and other cryptocurrencies thanks to the support that the British Government is showing to it. Well, reports indicate that Australia might just happen to be ready to treat Bitcoin as regular currency, which is definitely not something that we have been expecting.

Mark Karpeles, the CEO of Mt. Gox, the bankrupt Bitcoin exchange which totalled the cryptocurrency’s reputation back in 2014 was just arrested by Japanese law enforcement in Tokyo, Japan. The arrest comes after hundreds of man-hours spent in order to investigate whether he is guilty for all the accusations that have been brought upon him.

If you’re not yet aware, Mt. Gox was the world’s biggest exchange, handing more than 70% of the world’s Bitcoin transactions. It operated for a couple of years until 2013-2014, when Karpeles came under investigation for fraud-related activities. Soon after, the exchange filed for bankruptcy, and investors quickly began taking their money back, but as the liquidation process begun, the exchange announced that over 850,000 Bitcoins had been either stolen or lost. At that moment, this was worth over $800 million.

In the old days, whenever a ransom payment was needed, criminals used to prefer it being issued in briefcases full of unmarked bills. However, as the technologic era has taken over the world, things gradually began to change.