Keeping Up with the Bitcoin: Part II

It’s been a while since I’ve last written an article on bitcoins so here’s another bunch of updates for those who are interested in the digital currency.

NY-based bitcoin exchange goes live

It’s official, fellas! Coinsetter has opened its New York-based bitcoin exchange, allowing users to execute bitcoin trades in a matter of 40 milliseconds.  Apart from that, Coinsetter has expanded from being a trading platform to a fully-functional exchange with a variety of account funding options and highly-secured transfers.

The company’s CEO, Jaron Lukasiewicz, acknowledged that the bitcoin market has grown significantly over the past couple of years. “To celebrate the launch, we have also reduced our trade fees to industry-leading levels,” he mentioned. “The commission we charge on trades now extends as low as 0.10% for our most active users”

Bitcoin regulation in the works

With a growing bitcoin industry, it’s about time that regulation has been made to protect consumers from fraudulent activities. Last month, the State of New York announced that it is working on BitLicense, with rules covering comprehensive aspects that bitcoin buyers and sellers must adhere to.

This would make New York the first jurisdiction to come up with regulation for bitcoins and other virtual currencies. Once implemented, companies with transactions in virtual currencies would be required to hold a BitLicense and keep receipts of all transactions. BitLicense holders would also be required to report any instances of fraud or potentially illicit activity within 24 hours.

More establishments accept bitcoin

Ever dreamed of traveling and paying fully in bitcoins? That’s now possible, as Latvian airline airBaltic announced that it will be accepting bitcoins as payments for trips to any of its 60 destinations in Europe, Russia, and the Middle East. To pay for your hotel stay, you can may bitcoin payments through Expedia, one of the world’s largest online travel agencies.

To top it off, you can make use of Xapo’s bitcoin debit card for your transactions. This is the world’s first bitcoin debit card tied to your wallet balance, allowing its users to transact with any merchant that accepts debit cards and fund the transaction in bitcoins. For the company, this could pave the way for wider bitcoin acceptance across most establishments around the world.

That’s all I got for now, folks! Got any updates you’d like to share? Stay tuned for my next set of bitcoin headlines!

  • Jo D

    Never had any doubt that it wasnt here to stay, the only doubt i had, and one i still have is wether the elder gods of ye olde regulation as according to the year of our lord of the spanish inquisition will frack it up or not. Since that’s the only REAL danger bitcoin faces. Banks trying to make it look as if its all druglords, and politicians afraid they might miss one cent of tax stifling new biz as they have been doing since the dawn of time

    other than that, yea, karpeles should get the chair or at least work until he pays me back , i dont see how a bit of checkup on the stats of a company equals the need for regulation. Force them to keep open books to the last cent (as any government should do), published on the internet, to scrutinize for everyone, ofcourse no names with the paycheques of employees since privacy law (preferably eu-style as it was before they gave it to the nationalists, pardon me for speaking in the future tense of this particular timeline) but thats all you need to do. If you wont let it run free, you get a deformed thing that wasnt made to fit in one of your cubes or worse

    squares

    • Thanks for checking out my blog and sharing your thoughts! Yep I do have a good feeling that bitcoin could be here to stay, as developments show that the world is slowly starting to accept it.

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