With the shutdown of Tokyo-based Mt. Gox, once the world’s largest exchange for digital currency transactions, other companies in the Bitcoin universe worked to defend the nascent industry’s reputation.
Visa Inc. and MasterCard Inc., which processed $7.4 trillion in purchases last year, are among leading payments networks that devote thousands of words in filings to every perceived threat to their business. “Bitcoin” isn’t one of them.
Facebook Inc.’s 2012 stock market debut helped spark a boom in U.S. initial public offerings, sucking the life out of a Wall Street fad that the social network had helped popularize: private share exchanges.
New York’s top financial regulator told Bitcoin entrepreneurs he’ll prevent their companies from abetting money laundering even at the risk stamping out innovation in the embryonic virtual-currency industry.
Private share markets where corporate insiders can cash out stakes while avoiding the scrutiny of public listings have seen their popularity wane. Nasdaq OMX Group Inc. has a plan to make the concept mainstream.