Exchange Acquisition Consolidates Finland's Bitcoin Market
Finnish bitcoin broker Prasos has acquired Helsinki-based digital currency exchange Coinmotion for an undisclosed sum. The acquisition of the exchange by Prasos – which operates a different bitcoin exchange called Bittiraha.fi, as well as a bitcoin ATM network in Finland – follows a trend of exchange consolidation in the past year. While Prasos, which has headquarters in Jyväskylä, Finland, declined to disclose the buy price, it say the cash deal involved the purchase of the Coinmotion platform along with its customer base. While none of the exchange staff will stay with the firm through....
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Prasos, the leading Bitcoin brokerage in Finland, has announced the acquisition of the Bitcoin exchange service Coinmotion. Coinmotion of Helsinki “aims to provide a seamless platform for using Bitcoin to both consumers and vendors.” With the strategic acquisition, Prasos is positioning its service scope to be able to extend its offerings to ” regular people who want to safely invest in bitcoins and to better reach international markets.” Henry Bade, CEO and Co-Founder of Prasos says of the acquisition, “Our company has concentrated purely on Bitcoin exchange services and our market area....
Brazilian bitcoin exchange Foxbit has acquired payment processor BitInvest in an acquisition worth less than $1m. With the sale, the exchange said it is seeking to acquire new users and reinforce its position in Brazil’s nascent bitcoin market. Foxbit said BitInvest founder Flavio Pripas, the former founder of the social network Fashion.me, will serve on its board. All BitInvest accounts will be converted to Foxbit accounts as part of the deal. The acquisition is notable given the early traction seen by BitInvest, which inked a deal in 2014 with Tecnisa, a domestic real estate firm that....
The Bank of Finland has decided that Bitcoin has failed the currency test. "The Currency Test" as it is referred to by banks and governments around the world in regards to Bitcoin has differing meanings wherever it is cited. Bitcoin's rise to the top is tumultuous indeed. In an interview with Bloomberg's Kati Pohjanpalo, Paeivi Heikkinen, the head of oversight over at the Bank of Finland, stated: "Considering the definition of an official currency as set out in law, it's not that. It's also not a payment instrument, because the law stipulates that a payment instrument must have an issuer....
The government of Finland is discussing supporting Ukraine with part of the money from the liquidation of millions of dollars worth of cryptocurrency seized in crime investigations. Finnish authorities want to sell the bitcoins soon and say they couldn’t come up with a better idea for the proceeds.
Finland Selects Brokers to Sell $75 Million of Confiscated Crypto
Authorities in Helsinki have recently chosen two brokers to organize the sale of over €71 million ($75 million) worth of bitcoin (BTC) in the coming weeks. The country owns the coins that have been sized....
Bitcoin has been classified as a commodity in Finland after the Scandinavian country's central bank declared that it did not meet the definition of a currency. The Bank of Finland concluded that bitcoin simply doesn't meet the legal conditions required to be considered a form of electronic payment, either. Paeivi Heikkinen, head of oversight at the bank, told Bloomberg that bitcoin was more comparable to a commodity at this point. "Considering the definition of an official currency as set out in law, it's not that. It's also not a payment instrument, because the law stipulates that a....