ShapeShift.io Considers New York as Censored Jurisdiction
Following the release of the "BitLicense" regulation by the New York Department of Financial Services, ShapeShift.io, an Altcoin and Bitcoin exchange platform has suspended service to all residents of New York State. The Bitcoin and Altcoin exchange now responds to "BitLicense" Regulation and launches a new site dedicated to consumer's protection awareness, PleaseProtectConsumers.org. In response to the new regulation, ShapeShift is redirecting all site traffic from New York to the new initiative: PleaseProtectConsumers.org and inviting other digital currency companies to do the same. The....
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Mere weeks after New York state's BitLicense requirements were said to be “in effect,” two Bitcoin mining pools have been forced to deny their services to New York IP addresses (one shutting down entirely), and one exchange has done the same. BTC Guild and Eobot are among Bitcoin's smaller mining pools — you know, the kind that have kept Bitcoin mining sort of “decentralized.” But BTC Guild has now shut down entirely, telling its members: Similarly, Eobot explained to their members who use New York IP addresses that the mining pool could no longer afford to deal with them: “The fact that....
ShapeShift, a popular cryptocurrency exchange based in Switzerland, terminated its services in New York today, due to the state’s BitLicense regulations for digital currencies. Erik Voorhees, Shapeshift Founder and CEO, told CNBC: Voorhees has decided not to to comply with the BitLicense, explaining that ShapeShift is not willing to take the risk of exposing its users’ personal information, leaving them susceptible to potential data breaches or hacking attacks. The exchange is known for its ease of use because it doesn’t require users to create accounts. "We either would have to do....
Instant altcoin exchange ShapeShift.io chose to remove PayCoin from their platform. Today, altcoin exchangeShapeShift.io formally removed PayCoin (XPY), GAW CEO Josh Garza's controversial altcoin, from their list of accepted coins. Citing PayCoin's (alleged) broken promise to buy PayCoins at $20 each, ShapeShift considers PayCoin a fraud. Also read: Coin-Swap Retires Some Altcoins. PayCoin Delisted from ShapeShift.io. ShapeShift made the announcement in a Reddit post. They explain that they originally added the coin due to customer demand but decided to remove it after allegations that....
Yet another bitcoin startup left New York State and declined to comply with the BitLicense. BitFinex, the largest cryptocurrency trading platform in the U.S has followed the lead of Poloniex and Shapeshift, announcing the closure of their operations on their blog this week. The BitFinex team wrote: BitLicense requires any digital currency related startups and exchanges to pay US$5,000 in application fees, US$20,000 in legal fees. “Due to financial regulation changes in the State of New York, certain Bitfinex services are no longer available for New York Residents. Bitfinex is not applying....
Erik Voorhees-led Bitcoin exchange ShapeShift has decided to shut down its New York City operations, protesting the recently released Bitcoin regulations, CNBC reported today. The final BitLicense regulation demands that Bitcoin businesses record personal information of its users (through the KYC norm) and the cryptocurrency swapping place is not comfortable violating its policy of not storing any personal information of its customers. ShapeShift CEO Erik Voorhees told CNBC that, "We either would have to do something we're not comfortable with or leave New York. It's a moral and ethical....