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!