LocalBitCoins Stops Service for New York Residents
Peer-to-peer bitcoin exchange LocalBitCoins has joined the exodus of companies exiting the state of New York refusing to comply with the BitLicense. There has been a torrent of activity over the last few days over the August 8 deadline for declaring corporate compliance with New York’s infamous BitLicense regulation. Many companies have chosen to opt-out of the regulation and the New York State market altogether. This verdict seems to also apply to the popular Bitcoin wallet provider and peer-to-peer exchange LocalBitCoins.com, who has posted a message on their site regarding this....
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Note: this is a developing story. LocalBitcoins.com has discontinued service to New York State because of the state's BitLicense. LocalBitcoins.com joins BitFinex, Kraken and other cryptocurrency companies bolting New York on account of the law that prohibits the sale of bitcoin without a license. LocalBitcoins.com greets visitors with a popup window advising them to say whether or not they are New York state residents. The window provides a brief explanation of the regulation, 23 NYCRR 200, then asks them if they are a New York resident. Users then have to check a green-colored box saying....
One of the most popular ways for users to buy and sell bitcoin has announced a change that is sure to upset German digital currency enthusiasts. LocalBitcoins.com took to their Twitter account on Monday to announce that their services will no longer be available to users in Germany. The announcement comes much to the displeasure of those reliant on the service to acquire or get rid of their bitcoins. LocalBitcoins.com has said the reason relates to "regulatory reasons," though the service didn't exactly specify which regulations were preventing them from continuing their operation in the....
The world's largest peer-to-peer bitcoin marketplace Local Bitcoins and bitcoin marketplace BitQuick have terminated their services in New York due to the strict restrictions and fees demanded by New York's BitLicense. Local Bitcoins is a unique case; as every single seller on Local Bitcoins would be required to pay $5,000 to apply for BitLicense. The Local Bitcoins team wrote on their blog:"From today onwards users from New York are no longer allowed to use LocalBitcoins because of the legislation known as the BitLicense (23 NYCRR 200) which makes it a federal offense to sell virtual....
Today, May 3, 2014 LocalBitcoins reported a "very dangerous attack" on the site's infrastructure. As of now, LocalBitcoins has released a statement saying that none of their users data or Bitcoins have been affected and in the meantime "the site will be down for a while as the system is being rebuilt." LocalBitcoins hosting service had received a request to restart the website's server that apparently came from a "spoofed email" and other flaws in the hosting provider's support system. LocalBitcoins became aware of the situation shortly after this abnormal activity started. The attacker....
New details have emerged from the LocalBitcoins management team following its announcement this week that it would abruptly halt services in Germany. The peer-to-peer bitcoin marketplace is one of the older and more popular bitcoin startups, having launched in July 2012, though its users have faced legal troubles in some jurisdictions. Adding fuel to speculation was the original announcement from LocalBitcoins that it would shutdown its services due to "regulatory reasons". http://t.co/byGAoG3WSI won't be available in Germany anymore due to regulatory reasons. We hope this is temporary.....