Australian Regulator: Too Early to Investigate Troubled Bitcoin Firm Igot
Australia's top securities regulator has suggested that it cannot at present intervene in a long-simmering dispute involving bitcoin exchange service Igot and unhappy customers. In comments to The Sydney Morning Herald, a representative for the Australian Securities and Investments Commission (ASIC) said that an investigation into Igot would only take place if the company had failed – a charge alleged by customers who say their funds remain locked up and that has denied by the company. The representative told the news source: "As with any company, if it were to go into administration....
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Not every Bitcoin exchange in the world is as successful these days, and the Australian Igot platform appears to be getting closer to collapse than ever. With investors being owed several thousands of dollars, things are looking more worrying than ever before. Mainstream media outlet ABC has taken an interest in the story of Igot and how owner Rick Day....
The Australian Digital Currency and Commerce Association (ADCCA) is recommending a code of conduct for bitcoin companies on account of the inability of the Igot bitcoin exchange to deliver bitcoins people paid for or refund their money, according to ABC. Igot clients said the exchange owes them hundreds of thousands of dollars. The exchange has been unable to deliver on purchases or provide refunds for months. The exchange was launched in 2013, according to its website. Nicholas Giurietto, ADCCA chief executive, said Igot customers have been devastated. The association expects to have a....
igot launches Bitcoin merchant solution. The Australian Bitcoin exchange igot has announced the launch of the igot Merchant Solution, a service that allows both e-commerce providers and brick-and-mortar stores to accept bitcoins for goods and services. The igot Merchant Solution comes with a fixed transaction fee of half a percent. igot has continued to grow globally. The company that is present in close to 40 countries would seem to be emerging as a key player in the bitcoin merchant solutions area. Through the latest product offering, igot also signals intent to the major players BitPay,....
Australian exchange Igot is aiming to rival bitcoin payment giants Coinbase and BitPay with the launch of its own international merchant solution. Igot's platform will enable e-commerce and brick-and-mortar merchants to integrate bitcoin payments in almost 40 countries and transact in 10 different fiat currencies. Rick Day, Igot's founder, said: "Accepting bitcoin through Igot has multiple advantages for merchants. Perhaps most importantly, bitcoin is a free marketing tool that is likely to increase overall revenue. This is a win-win situation for merchants and the bitcoin community." Igot....
Igot, the Australian Bitcoin exchange seems to be deep trouble. It may as well be going the Mt Gox way. The landscape of the Bitcoin industry is changing rapidly. Bitcoin companies that made a name in the early days are either shut down or falling into pieces due to various factors. Mismanagement tops the list of factors responsible for the downfall. The first taste of things to come was delivered to the Bitcoin community in the form of Mt Gox, the biggest Bitcoin exchange of that time which declared bankruptcy after hackers allegedly stole bitcoins belonging to them. There are other....