New Zealand’s bitNZ to Shut Its Doors in April
New Zealand's bitNZ will be shutting down after its banking partner declined to open bank accounts for the platform. Bitcoin is the most popular cryptocurrency of all times. Since its inception, the use of Bitcoin has skyrocketed, and people from all corners of the world now utilize it for trading and making transactions. However, the adoption lacks uniformity and then there are various regulations and dependencies that make it hard for Bitcoin-related businesses to sustain themselves. A New Zealand based cryptocurrency portal has become the prime example of such challenges faced by....
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The New Zealand Bitcoin exchange Bitnz has recently announced to its customers it will be closing its doors soon. The company explains the unfortunate closure is due to a New Zealand banking system that won’t allow Bitcoin operations to hold bank accounts. Bitcoin Exchange Bitnz Closes Its Doors Due to Banking Issues. Many New Zealand bitcoiners were sad....
BitNZ, a New Zealand bitcoin exchange, has announced it is closing due to the refusal of New Zealand banks to allow bank accounts to trade bitcoins, and has advised customers to withdraw all funds before April 15, 2017, the company announced on its website. BitNZ also announced its decision on Reddit, noting that it is impossible to continue operations. BitNZ thanked customers for their support and noted it has processed over 11,000 bank transactions since 2011. Banks Uncompetitive. BitNZ said the banks’ position is anti-competitive, raising the question of whether there is a fairness....
New Zealand’s Bitcoin market is to shrink even further in April when one of its flagship exchanges bitNZ shuts down due to banking difficulties. In an explanatory note on Reddit, the exchange stated that “bank hostility” was the reason behind its ceasing operations in the near future. It requested all customers withdraw any remains funds by April 15. “Due to the refusal of NZ banks to allow bank accounts for the purpose of trading Bitcoins it is impossible for us to continue operations,” it said. bitNZ BitNZ is one of the Bitcoin ecosystem’s oldest exchanges, having run since 2011. In that....
New Zealand’s Māori haven’t held economic sovereignty in the past or today. But does Bitcoin offer a chance to change the future? The post New Zealand’s Past, Pūtea and Future: CBDC Vs. Bitcoin appeared first on Bitcoin Magazine.
Inner Mongolia, an autonomous region in northern China, is planning to shut down all cryptocurrency mining activities in the area by April 2021, as part of efforts to improve energy efficiency. Regulating the Electrical Consumption in Inner Mongolia The government of Inner Mongolia will also stop approving new projects in energy-intensive industries such as steel and coke production, Reuters reported on Mar. 1, citing a draft policy to regulate energy consumption in the region. Chinese journalist “Wu Blockchain” tweeted that the decision might be due to China’s need to....