New Zealand Authority Posts Warning About Bitcoin Exchange IGOT
The Financial Markets Authority (FMA) of New Zealand has noted it has received complaints from New Zealand based clients of igot, an Australia-based bitcoin exchange, about igot’s failure to repay clients in accordance with their instructions. Igot is not registered or required to be registered to provide financial services in New Zealand. The warning posted on the FMA’s “Businesses to be wary of” page. The FMA attempts to protect investors from businesses that are or have been registered on the Financial Service Providers Register (FSPR) and are the subject of complaints about misconduct....
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This article has been updated with additional comment from igot users. The founder of Australia-based bitcoin exchange igot has refuted claims his business is a scam. Igot recently came under fire, with many of its users complaining about delays to their withdrawals, branding the company "untrustworthy" and claiming they'd been robbed. Rick Day, igot's founder told CoinDesk the delays particularly affected fiat withdrawals, attributing them to a number of factors. "They [the issues] are as not as big as they appear from the outside ... one of the biggest issues that we have with delays is....
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,....
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....
For such a rapidly developing country, the UAE hasn't seen much development in Bitcoin. At least, not until just recently... The United Arab Emirates (UAE) is one of the richest countries in the world. Home to the the seventh largest oil reserves on the planet and 19th highest nominal GDP per capita, the UAE has quickly developed a high-income economy. Large, man-made islands and gold vending machines are nothing out of the ordinary in the cities of the UAE. That's why it may come as a bit of a surprise that Bitcoin hasn't really caught on in the Emirates. However, that could soon change....