Bitmarket.lt Takes Bitcoin's Fight Against Big Banks to Court
A close look at recent headlines reveals the current reality for the bitcoin industry - that despite the potential world-changing promise of its underlying technology, its businesses are still facing hurdles when attempting to bring their products and services to market. However, not all startups are taking the indecision of banks lightly. Lithuania-based bitcoin startup Bitmarket.lt is fighting back against its former bank, Swedish financial services giant Swedbank, after it shut down the company's accounts. Launched in late 2013, the dispute created headlines in Lithuania, and as of....
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For the past few years, there has been a war occurring between bitcoin and traditional banking institutions. For the most part, bitcoin has always managed to stay alive and hold its ground despite some major opposition, but often the banks come in with their executives and power and win battles without much effort. The war has now escalated, and another win must be chalked up for the banks. Polish bitcoin exchange BitMarket.pl had its bank accounts suspended just a few days ago on January 26th by Bank BPH due to what the bank says are rising debts and a lack of credentials. However,....
A few bitcoin users from Poland have reported to CCN that they are dealing with bank crackdowns due to bitcoin activity. One Polish bitcoin exchange, BitMarket, became a victim of a shutdown earlier this week by BPH. When contacting BPH, they were told there were technical problems that needed to be sorted out. Upon further investigation, BitMarket found out they were shut down due to cryptocurrency activity was associated with their account. Also Read: Polish Hospital First to Let Patients Pay for Surgery Using Bitcoin. The original text was written in Polish, but CCN was able to....
BitMarket, a Polish Bitcoin exchange, was recently closed down by BPH due to their association with Bitcoin. At first the bank was told that it was due to technical problems. Another bank, Bank Zachodni WBK (BZ WBK), also began terminating accounts shortly after the BitMarket incident. While these two banks are shutting down accounts held by Bitcoin businesses, does this signify a national crackdown in Poland? I sought to uncover more information on this matter by interviewing Poland's largest Bitcoin exchange, who to date, has not had any problems in their banking relationships. Also....
The Philippines, a prime market for cryptocurrency. Problem is, very few people have heard of it there. How would I know? I’m Filipino myself, and only now is the seeds of Bitcoin adoption happening. A big part of moving Bitcoin adoption forward is getting merchants to start accepting it, brick and mortar as well as online shops. That’s where bitmarket.ph comes in. 1. How did Bitmarket.Ph come about? A little background about the founders of the company. We are composed of four Filipino businessmen and entrepreneurs more than 50 years of combined experience in many local industries and....
Bitmarket.eu hacking incident back on 2012 may have a connection to the LinkedIn and Dropbox hacks by Yevgeniy Nikulin. For those who do not remember, Bitmarket.eu used to be a Bitcoin exchange run by two Polish developers. The developers, Maciej Trebacz and Pawel Makulski operated the exchange platform for about two years before it became a victim of a hacking incident. While Bitmarket.eu has been reduced to a cryptocurrency blog following the incident, the hacker who may have been responsible for its plight may soon be facing trial. According to reports, a Russian national by the name....