UK Bitcoin Exchange Bit121 Temporarily Ceases Operations
UK-based bitcoin exchange Bit121 has announced that it will suspend trading and temporarily close today, March 31st. Although the exchange has indicated that the closure is not permanent, it has not said when it will reopen. Bit121 said most of the site's functionality was removed on March 26th. However, users have been able to view account balances and statements, withdraw any sterling balance greater than £50 with no fee, and withdraw any bitcoins held with the exchange. All orders have been cancelled. On Thursday (27th March), the exchange started carrying out withdrawal transactions on....
Related News
A United Kingdom-based bitcoin exchange, Bit121, announced last week that they would be closing their doors and halt their operations temporarily. That date has come, and users of the exchange will need to find themselves another platform to make their trades on. Bit121 announced that as of the 26th of March, users would be able to view their balances and account statements, withdraw any sterling balance greater than £50, along with any bitcoin balance. As of the 27th of March, Bit121 processed withdrawals for ever account with a positive GBP balance. Anyone with a balance of £1.00 or....
Barclays is taking sterling deposits for a new bitcoin exchange, making it the only UK bank to do so currently. Banks in the UK have avoided working with bitcoin exchanges so far, but customers of new bitcoin exchange Bit121 can deposit their sterling to a Barclays account with a Canary Wharf address. The account belongs to a payment service provider called PacNet Services Ltd, which Bit121 works with. Barclays therefore does not have a direct relationship with the bitcoin exchange. When contacted, Barclays refused to comment on its policy towards working with bitcoin exchanges. Daniel....
A South African cryptocurrency exchange, Ice3x, announced on April 6, that it will permanently stop operations, less than a month after suspending bitcoin and litecoin withdrawals. Ice3x, which one of the oldest crypto exchange in that country, says it came to this decision after lawyers advised the firm to start liquidation proceedings. ‘Extreme Pressure’ In a statement sent to clients on April 6, the exchange claims it “processed the withdrawals which have already been submitted” and therefore, “all withdrawals from the platform have been disabled.”....
LibertyBit, a bitcoin exchange registered in Canada has announced its temporary closure. It says that this has come as a result of bank account closures and fraudulent account activity. The exchange had been acclaimed by Reddit users for use of the Google Authenticator for two-factor authentication to increase security. Ultimately, this has not helped the business remain trouble free. The exchange accepted transactions in both US and Canadian dollars. The latter currency, of course, benefited from Canada's Interac e-Transfer system that allows funds to be transferred by email. LibertyBit....
Following up on recent news reported indicating that Bangladesh could imprison individuals caught using bitcoin in the country comes the news from the Bitcoin Foundation that their affiliate in the country has temporarily halted operations. The September 15th reports noted that buying, selling, and trading the digital currency could be punishable up to 12 years in prison, as the use of bitcoin violates the country's strict anti-money laundering laws. The Foundation writes: Until more information is obtained on the current situation, Bitcoin Foundation Bangladesh has temporarily suspended....