Archive | money transmission

BTC-e Operator Indicted and Connected With Missing Mt Gox Funds

According to a report revealed by the U.S. Department of Justice, formal charges against Alexander Vinnik are waiting for him on American soil. It seems Vinnik has many money laundering related charges against him and the exchange he allegedly operated — the long standing bitcoin exchange called BTC-e. Also Read: Greek Authorities Arrest Suspected BTC-e Mastermind  ‘BTC-e […]

Virtual Currencies Now Permissible Investments in Vermont

Vermont may be known for more than its dairy farms and green mountains these days. This week the state of Vermont’s Governor has signed a new bill into law that applies virtual currencies to ‘permissible investments’ for money transmission businesses regulated by the Department of Financial Regulation. Also read: Well Known Investors Are Betting Big on […]

Alaska Introduces A Bill to Regulate and License Bitcoin Businesses

The State of Alaska has introduced a bill this week defining digital currency, as well as broadening its definition of money transmission to include it. A wide array of business functions would require money transmission licenses, including buying and selling through a third party, transmitting, controlling, and issuing digital currencies. Also read: Bitfinex Will Not Obtain License […]

Bitfinex Will Not Obtain License to Do Business in Washington State

Hong Kong-based bitcoin exchange Bitfinex has stopped servicing Washington State customers, reportedly due to the state requiring a money transmitter license. Also read: Coinbase Exits as Hawaii Requires Bitcoin Companies to Hold Fiat Reserves  Exiting Washington State, Will Not Obtain License Bitfinex has recently modified its terms of service which now includes the following clause: […]

Coinbase Exits as Hawaii Requires Bitcoin Companies to Hold Fiat Reserves

Coinbase announced on Monday that it “must indefinitely suspend its business in Hawaii”. This is because the Hawaii Division of Financial Institutions (DFI) has imposed regulatory policies that would make Coinbase’s continued operations there impractical. Also read: IRS Asks to Postpone Upcoming Hearing With Coinbase  Hawaii’s Money Transmitter License Requirements According to Coinbase’s announcement, “the […]

Bitcoin-like Transfer Service Benefits Over 17 Million Bangladeshis

We know that Bitcoin is a great tool to bring about a financial revolution, and more importantly, it has tremendous potential to benefit the large population in under-developed or developing economies who have no access to the banks. A similar case has come to light where a Bitcoin-like money transfer service is serving over 17 million […]

MAR 30 DIGEST: SOCOM monitoring Bitcoin for Terrorism Funding, T-Mobile Poland gets own BTM

The United States SOCOM has outlined how it views Bitcoin, admitting to monitoring and tracking transactions. A proposal for a decentralized local dark market has been published aiming to use the bloc

Online Bitcoin Trading Takes Root in Africa

It is a well-documented fact that Africa has a huge number of unbanked, which in some countries goes beyond 70%, and also incurs very high costs of money transmission. It follows then that when Bitcoi