California regulators say it has not issued any licenses for digital currency exchanges. That means it hasn’t done so for Coinbase, arguably the most prominent and heavily-funded bitcoin services company.
The move is potentially a huge step forward for the bitcoin community, adding greater legitimacy and broader access to the virtual currency.
The twins have financed the venture themselves, but it remains a risky project because bitcoin has been widely targeted by hackers taking aim at other exchanges.
It’s been an unforgiving few weeks for bitcoin and things got worse Wednesday as the chief cryptocurrency dipped below $200, territory it hasn’t seen since late 2013 when it was on course to a record run-up.
Buyers are still out there, hungry to take advantage of bitcoin’s dips in hopes of riding a big move to the upside down the line. Early Monday, about $7.8 million worth of bitcoins were purchased after selling for about $300 each on exchange Bitstamp.
Although this move falls short of the eBay-owned e-commerce pioneer integrating bitcoin into its payment processing services directly, it does serve as the first big move into the bitcoin community.
The FTC’s complaint focuses on Butterfly Labs’ stonewalling of customers who failed to received mining products for which they had paid thousands of dollars in advance.
Coinbase, the fast-growing bitcoin services provider, said Monday that it has boosted United Way’s scope and reach by adding bitcoin as a donation option on the organization’s website.
eBay-owned PayPal, the Internet’s mainstream payments processor, is finally embracing the still-burgeoning bitcoin technology. And the move is creating a stir within the bitcoin world
Shift Payments allows users to make purchases via Coinbase — the well-established Silicon Valley bitcoin exchange and wallet —and Ripple, a digital payment platform that works with both real and digital currencies.