New Zealand Bitcoin ATM Operator Shuts Down After Bank Refusals
New Zealand-based bitcoin ATM operator Bitcoin Central says it has been forced to shut its doors, the result of local banks' refusal to provide financial services. While bitcoin businesses around the world are going to great lengths to comply with new or potential digital currency regulation, they are also discovering another layer of difficulty: getting banks to supply the account services vital to the existence of any mainstream business. The heading on Bitcoin Central's homepage now reads: "We are now closed. Please read below for the why." "It's the banks. Unfortunately, despite....
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It's generally with great excitement that a bitcoin ATM launches in new frontiers, but a New Zealand bitcoin ATM operator has announced they're shutting down operations due to interference with banks. Bitcoin Central - self-labeled as 'NZ's bitcoin ATM provider' - published a statement on their official website declaring their operations were "now closed," pointing the finger almost instantly by stating, "Its [sic] the banks." Specifically, it would appear as if the operator is unable to secure a banking partner - an issue many bitcoin start-ups have been dealing with. The statement in....
The New Zealand Bitcoin exchange Bitnz has recently announced to its customers it will be closing its doors soon. The company explains the unfortunate closure is due to a New Zealand banking system that won’t allow Bitcoin operations to hold bank accounts. Bitcoin Exchange Bitnz Closes Its Doors Due to Banking Issues. Many New Zealand bitcoiners were sad....
New Zealand’s Bitcoin market is to shrink even further in April when one of its flagship exchanges bitNZ shuts down due to banking difficulties. In an explanatory note on Reddit, the exchange stated that “bank hostility” was the reason behind its ceasing operations in the near future. It requested all customers withdraw any remains funds by April 15. “Due to the refusal of NZ banks to allow bank accounts for the purpose of trading Bitcoins it is impossible for us to continue operations,” it said. bitNZ BitNZ is one of the Bitcoin ecosystem’s oldest exchanges, having run since 2011. In that....
The central bank of New Zealand has lined up among monetary authorities exploring the question of issuing their own digital currencies. The financial regulator is now seeking feedback from the public about the need for a digital form of the national fiat while also promising to preserve cash.
New Zealand Central Bank Considers Risks and Benefits of CBDC
Reserve Bank of New Zealand (RBNZ) is now gathering input from the public on the potential use of a central bank digital currency (CBDC), Reuters reported following an announcement released by the bank on Thursday. Assuring that....
New Zealand Reserve Bank. Deputy governor Grant Spencer of the New Zealand Reserve Bank commented on digital currency during his speech at the Payments New Zealand conference in Auckland. His feelings toward digital currency looks hopeful and positive compared to the response from other countries. "As the currency issuer, the Reserve Bank does not feel threatened by Bitcoin which seems to behave more like a commodity than a currency." According to stuff.co.nz, Spencer continued his comments on digital currency, giving a favorable opinion on the future. "However, I do not doubt that future....