The Bitcoin regulatory measures in the state of New York are causing quite a bit of controversy. Right now, there are more companies halting their service in this part of the world compared to the number of applications for a BitLicense. Even though regulation is necessary, too severe regulation leads to a mass exodus of companies. One of the few major Bitcoin companies completely unaffected by this regulatory measure is Bitcoin wallet provider Airbitz.
It is no secret that Bitcoin and other virtual currencies have been making headway across Latin America in recent months. Most of the countries are plagued by hyperinflationary fiat currencies, as well as tight capital controls in terms of moving funds in and out of the region. Just a few weeks ago, the first ever Bitcoin conference was held in Sao Paulo, Brazil.
Strong Focus On Regulation and Financial Aspect of Virtual Currencies
Bitcoin and other virtual currencies could play a major role of importance in Latin America in the near future, once more people have found out what these currencies are about. To be more precise, there are two major points of interest: how will virtual currencies be regulated, and what does the financial aspect of Bitcoin and consorts entail exactly?
Even though many customers are still struggling with the idea of purchasing Bitcoin from an exchange through bank transfer, there are other solutions available. Not just in the form of using Bitcoin ATMs, which are also a great way to buy Bitcoin. Bitcoin exchange 247Exchange is making the process of buying Bitcoin with a credit card even smoother than it was before.
Making The Bitcoin Buying Process More Consumer-friendly
In our latest article on how to buy Bitcoin, we mentioned that using a credit card is not possible when it comes to Bitcoin from most traditional exchanges. However, there is one emerging exchange that has integrated card payments for buying Bitcoin into their platform. 247Exchange.com is best known for allowing purchases and withdrawals through most major credit cards.
Despite Bitcoin being in a state of flux right now, due to a fairly low Bitcoin price and regulatory requirements scrutinizing startups in the US, some companies are still pushing forward with their expansion plans. HashingSpace Corporation have launched their Bitcoin mining pool – called Hashpool.com – and made the pool’s mobile app available for both Android and iOS users.
HashPool.com – A New Bitcoin Mining Pool With Mobile Tools
In recent weeks, the name HashingSpace Corporation has made headlines on this website multiple times. The company is on an aggressive spree in terms of expanding their offerings in the Bitcoin ecosystem. HashPool will be of interest to Bitcoin miners from all over the world, as the backend will balance the mining load based on a GEO-IP implementation.
Bitcoin can pose a serious disruptive threat to the world of finance as we know it. Wall Street has been carefully eyeing Bitcoin and the underlying blockchain technology for several years now. With so many companies leaving New York due to the BitLicense regulation, the reaction on Wall Street wouldn’t take long. Lo and behold, many Wall Street players are migrating to the Bitcoin ecosystem.
Bitcoin regulation is a topic of heavy debate around the world, especially since the BitLicense requirements were made publicly available. In the United States; every individual state can draft their own Bitcoin regulatory requirements, and it looks like California will be the next place to do so.
Bitcoin Regulation To Harm Innovation?
One of the main concerns surrounding Bitcoin regulation is whether or not local requirements will be beneficial to technological innovation in the digital currency space. There will always be different opinions regarding this matter, and in California, the pending Bitcoin regulation is causing a disruption between several parties.
When Ethereum was finally released to the public, quite a few people had high expectations of this platform and the associated digital currency called “Ether.” However, ever since the launch itself, it became clear that it would take quite a bit of tweaking and prodding to get Ethereum running on most computers. Quite a shame for a project that raised millions of USD in investment capital, yet failed to deliver a user-friendly piece of technology.
BitLicense is the first proper form of Bitcoin regulation in the United States, even though most Bitcoin companies do not agree with the proposed requirements. Whereas several Bitcoin exchanges are leaving the New York state area, Bitstamp has announced they will, in fact, be applying for a BitLicense in order to comply with current regulations.
BitLicense Causes Lots of Controversy
Bitcoin regulation is still an important aspect for digital currency to be recognized as a legitimate form of digital money. Yet at the same type, the first revisions of Bitcoin regulation are quite harsh, especially as far as BitLicense is concerned. Applying for a license is expensive, and there is a thorough process every company has to go through.
Promoting Bitcoin awareness is not an easy task, even though there are various ways to do so. That being said, every now and then, a new product enters the market that gets some people excited while it seems utterly dumb to others. The Bitcoin Ring 2.0 may not win any awards for being fashionable or classy, but you can be certain people will talk about it.
Bitcoin Ring 2.0 – Bitcoin Is Just a Finger Away
Bitcoin promotional tools and efforts have undergone several transformations in recent years. Not only are there Bitcoin T-shirts, hoodies, and hats, but also a plethora of stickers, pins, labels, posters and nearly every traditional item you can imagine. On the other hand, efforts such as the Bitcoin Jet have not gone by unnoticed either.
Bitcoin is causing quite a few headaches for legislators and regulators all over the world. Even though some countries and US states have come up or are close to coming up – with a regulatory framework for Bitcoin, not all of them are positive, especially New York’s BitLicense regulation, which is causing an exodus of Bitcoin companies in the state. The latest company to leave is BitFinex, the largest US Bitcoin exchange platform.