South Korea to ban cryptocurrency trading amid fears of tax evasion

In a move that's sent bitcoin spiralling, officials in South Korea have announced plans to ban cryptocurrency trading in the country. The plans come against a backdrop of concerns regarding tax evasion, as cryptocurrency trading in the country is hig...

Cryptocurrency Ugly Sweaters Are Already Worth Double What You Paid for Them

One of the biggest buzzwords in finance and investing these days is “cryptocurrency.” These tiny packets of computer-signed, highly-secure, and highly-elusive data represent value, and are trading at ever more insane rates of exchange due to their rarity. Think of it as a modern-day gold rush, with cryptocurrencies like Bitcoin surging to more than 17 times their value 12 months ago. Of course, their value could drop just as rapidly as they increase, and the process of selling and trading can take days, so it’s a risky game to play with money you can’t afford to lose. That said, these cryptocurrency sweaters shouldn’t have the same type of insane valuation shifts.

The guys at HODLMOON are making a series of ugly holiday sweaters, inspired by well-known cryptocurrencies, and they’re actually pretty awesome. They’re showing off their knit sweaters in Bitcoin, Ethereum, and Litecoin designs, as well as some of the lesser-known monetary units like Monero, Neo, and Polymath. Each one features the currency’s logo, along with its financial symbol stitched in like snowflakes.

They’re available in sizes Small through 3XL, and made from 100% acrylic. Best of all, they’re just $59.99 US Dollars each, which is like 0.003509 of a Bitcoin at today’s exchange rate. So how can you afford not to buy one?!?!? It’s a sure thing!

[via @TaylorLorenz via Laughing Squid]

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Microsoft and the UN to provide digital IDs for undocumented people

It's difficult to live without identification. In many cases, you're shut out of banking, health care, voting rights and other basics. Microsoft and partners might just give those many undocumented people (1.1 billion of them, in fact) a shot at th...

Bitcoin is worth more than ever, but it’s losing clout

To say that Bitcoin has had a roller coaster ride would be an understatement. Between regulatory hurdles, heists and its all-too-common use in online crime, it's sometimes a surprise the cryptocurrency has survived. However, it's faring well -- so we...

Cryptocurrency raider takes $60 million in digital cash

A cryptocurrency is only as reliable as the technology that keeps it running, and Ethereum is learning this the hard way. An attacker has taken an estimated $60 million in Ethereum's digital money (Ether) by exploiting vulnerabilities in the Decentr...