Cryptocurrency overview: Kryptoradio, possible bitcoin ban in Russia and Reddit's cryptocurrency

The price of bitcoin has seen a subtle recovery following a week of steadily plunging prices, moving up to around $385 (£240, €305) over the last 24 hours.

Most other major cryptocurrencies followed the example of the primary cryptocurrency, with litecoin, dogecoin, peercoin, and namecoin all experiencing price gains of between 2% and 4%. Darkcoin was the only big player to see its value fall, dropping by 5% to take its market capitalisation down to its lowest level since mid-September.

• An experimental software was launched that allows bitcoin to be broadcast over a television network is being tested in Finland. Kryptoradio, a data transmission protocol project, transmits low band-width information over broadcast networks in order to enable bitcoin transactions in areas with poor internet service. "Currently we broadcast Bitcoin traffic but we occasionally send some test patterns and we are planning to update to new protocol version soon which allows transmission of currency exchange data, too," Joel Lehtonen, the project's leader, told Cryptocoins News. "So currently the broadcast is up and running, but is not yet ready for daily use."

• Financial regulators in Russia are set to finalise draft proposals to continue the outlawing of bitcoin and other cryptocurrencies in the country. Anyone who trades in cryptocurrency or is involved in mining it will face criminal proceedings. "There is a clear sense that many financial institutions, watching cryptocurrency boom, somehow want to join it," Ilya Balakirev, chief analyst of UFS Investment Company, told IBTimes UK. "But at the same time we have a strong feeling that the officials, even top-level officials, speaking out on this topic, do not fully understand what cryptocurrency is and how it works."

• "Circle", bitcoin-to-fiat currency exchange company, has officially launched to the public following several months of invite-only operations. "Circle"'s trading platform is the first user-friendly exchange that allows consumers to deposit local currency in return for bitcoin and could signal a significant step towards bringing bitcoin closer to the mainstream. "We founded Circle to bring the benefits of digital money to a mainstream audience," Jeremy Allaire, chief executive and founder of Circle, told International Business Times UK earlier this year. "We saw an opportunity to leverage the technology behind digital currencies, such as bitcoin, to make using money more secure, less costly, and instant – globally."

• Reddit, a popular social news website, has announced the possibility of creating its own cryptocurrency. The site has just completed a fundraising round worth about £30m. Investors proposed to give 10% of their shares back to the community in recognition of the "central role" the site's community plays."We've long been trying to find a way for the community to own some of reddit, because it is your contributions that help to anchor the site and give it strength," said Reddit chief executive Yishan Wong in a blogpost. "We are thinking about creating a cryptocurrency and making it exchangeable (backed) by those shares of reddit, and then distributing the currency to the community. The investors have explicitly agreed to this in their investment terms."