The launch of the Laissez Faire (LZF) digital currency-to-fiat exchange platform in 49 states marks the first U.S.-based exchange to operate legally throughout the entire U.S., with the exception of New York. The goal is to provide a digital currency-to-fiat exchange platform that provides the most secure, incentivized trading environment. Using a structure similar to a Saas (software as a service) platform, LZF provides an autonomous system with fully-implemented banking capabilities. The autonomous, synchronized system minimizes the need to manually process user requests (with the exception of crypto cold storage). LZF does not serve New York due to the state’s BitLicense requirement. CCN reported earlier this year that the company, formerly known as PS Coin,…
Nearly 25,000 creditors are claiming JPY 2,663,398,225,570 (more than $22 billion USD) from Mt. Gox Co. Ltd., according to bankruptcy trustee attorney Nobuaki Kobayashi. Kobayashi filed a report with the Tokyo District Court, Collegiate Section of the 20th Civil Division. The report summarizes the status of claims against the bankrupt company, along with the status of the investigation into the disappearance of bitcoins from the exchange. The trustee published the report distributed at the fourth credits meeting, according to leaprate.com. Report Lists Assets and Balance Sheet As of Sept. 8, 2015, the bankruptcy trustee has secured JPY 1,242,068,375, i.e., a decrease of approximately JPY 130,000,000 from the time of the third creditors’ meeting. The list of…
Coinbase has reportedly decided to compensate the victims of its double billing glitch with Bitcoin. According to an email acquired by the Altcoin Press, the San Francisco-based company lately had a technical issue on its platform, due to which its platform started charging customers twice for each Bitcoin purchasing order. The error affected around 25 Coinbase customers between August 28th and September 1st. But instead of reimbursing the wrongly debited funds back to their rightful owners, Coinbase decided to process the duplicate order — a forceful sell — and credit the users’ accounts with Bitcoins. Following is an excerpt from the mail sent by the Coinbase Support Team: “Because the initial ACH debit and the duplicate ACH debit have both processed on your…
Barclays is set to become the first UK bank to officially accept payments in Bitcoin, as reported in The Sunday Times. The multinational banking and financial services company announced recently that it is set to become the first bank in the United Kingdom to start accepting Bitcoin as a payment method. Barclays announced that they could start experimenting with Bitcoin as early as by the end of this year. Stating that Bitcoin has the potential to change financial services, Barclays revealed that it has entered into a partnership with an undisclosed Bitcoin exchange. They also revealed that they have been conducting tests and experiments into Bitcoin in different labs of London as well in collaboration with some start-ups. The aim to go into collaboration with…
Bitcoin users in Singapore can now purchase and sell the digital currency via Coinbase. The popular Bitcoin exchange, with around $106 million worth of funds in its pockets, has marked its entry into Southeast Asia. The announcement is quickly followed by its expansion to Canada a couple of days back. CEO Brian Armstrong earlier admitted that Coinbase is looking forward to expand its business territory to around 30 countries. As he indicates, the company’s focus remains on cornering both developed and developing Bitcoin markets around the globe. Singapore marks their first venture outside the North American and European markets. The decision further helps Coinbase in reaping benefits from the innovative regulatory climate of Singapore. The country has shown a…