Regulation, New Investments, and Big numbers Highlight Bitcoin's Week

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This week’s news stories contained lots of regulation, new investments, and big numbers.

 

New York’s BItLicense Discussions Continue

Coindesk published an extensive interview with many bitcoin industry leaders like Erik Voorhees, Perianne Boring, Roger Ver, Adam Draper, Michael Terpin, and Halsey Minor. The piece contains thoughtful comments discussing why the proposed regulations won’t achieve their stated goals and why they will hurt New York financial service customers and businesses.

 

Bitcoin Startup Circle Intends to Block New Yorkers if Proposal Goes Through

Circle’s CEO Jeremy Allaire announced they intend to block New Yorkers from accessing their service if the proposed BitLicense regulations are enacted. The announcement states the proposed regulations will limit industry participants, push businesses offshore, and be technically impossible to comply with. He states circle would have to “block New York customers from accessing our services.” He continues saying he believes New York’s Department of Financial Services will modify the proposed regulations to help rather than hinder digital currency industry development in New York and the rest of the world.

 

Consumer Financial Protection Bureau Issues Bitcoin Guidance

The Consumer Financial Protection Bureau released a consumer advisory regarding bitcoin. The advisory discusses risks like hackers, lack of legal protection, and scams. It also advises consumers there may be large price fluctuations, digital currencies are new, and not anonymous.

 

$12 Billion Ebay Payment Processing Subsidiary Negotiating Bitcoin

The Wall Street Journal reported Braintree, an Ebay subsidiary, is in talks to accept bitcoin. The report states Braintree is negotiating with bitcoin payment processors like Coinbase. Last year Braintree was processing over $12 billion annually. Their customers include AirBnb, Uber, and Github.

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Related: Why Bitcoin's Growth Should Explode

 

$250,000 Investment in Peer to Peer Lender Bitbond

Forbes reported VC Point Nine Capital led a $250K seed-round investment. Bitbond is based in Berlin. Like BTC Jam and BitLendingClub, Bitbond provides a peer to peer marketplace for small loans.

 

Argentinians can buy Bitcoin at 8,000 Convenience Stores

Coindesk reported Argentina’s citizens can buy bitcoin with pesos at convenience stores around the country. The system is called Ripio and is owned by payment processor BitPagos.

 

Blockchain.info Has Over 2 Million Users

NEWSBTC reported online wallet provider Blockchain.info has over 2 million users. Since a huge surge last November when bitcoin’s price increased dramatically, blockchain has seen fairly constant growth. Blockchain enables users to have a bitcoin wallet in a similar way services like gmail let users have an email account without technical know how.




 

Disclosure: At the time of this writing, David Smith has a long bitcoin position and owns So What’s Bitcoin?

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