BitQuick and Local Bitcoins Terminate Service in NY due to BitLicense Compliance Costs

BitQuick is challenging USA and Europe to sell their bitcoins by using Bitquick.co."We're calling it the BitQuick challenge," says Founder Jad Mubaslat. "We're so confident users will come back, that we're giving away $10 or 0.03 BTC, whichever is greater, to the first 150 new sellers for the month of October and November. We're also completely removing withdrawal fees for October and November. You now get paid to sell on BitQuick when you're a new customer."After hearing this offer, I had a few questions for Jad that he gladly answered.Why would I use Bitquick instead of Coinbase? While....

Boost VC CEO Adam Draper has launched a petition seeking a number of changes to New York's proposed BitLicense framework. The petition calls for New York regulators to limit the amount of information they gather on virtual currency startups to what is mandated by federal standards; that the BitLicense avoid using duplicative language already enshrined in federal law; and that regulators give their approval for what Draper calls a "sandbox of innovation in the financial markets". In a video accompanying the petition, Draper stated that the changes are needed to reduce startup costs for....

Bitcoin buying and selling platform BitQuick took to social media on Wednesday, posting that they have launched a trading platform for the Middle East, allowing enthusiasts in the region to buy and sell bitcoin. While details weren't abundant, BitQuick says they've launched support for six currencies (including the USD), making the buying and selling of the digital currency available in: Jordan, Palestine, Egypt, Lebanon, Kuwait, United Arab Emirates, Qatar and more. BitQuick is one of the few companies in the bitcoin sector to focus their attention on the Middle East at a time when many....

Coinbase CEO Brian Armstrong argues that privacy advocates could gain the most from compliance since it will make them rich. But could non-compliance be even more lucrative for Bitcoin? Compliance Will Make Who Rich? Armstrong defines compliance as “working with regulators, law enforcement, banks, etc.” and touts the fact that as much as 20% of Coinbase....

The creator of the controversial BitLicense legislation has sought to make its effect more palatable for New York start-ups by offering them a form of temporary coverage. Speaking at Money20/20 Las Vegas, superintendent of financial services Benjamin Lawsky announced the issuing of temporary licences to “smaller start-ups” in order to “let them grow” prior to being subject to the full extent of the law, Bloomberg notes. “There has to be a way for startups to start up and play by the rules without getting crushed by huge compliance costs,” Lawsky conceded. “Transitional Bitlicense is a....