Bittrex Lands Bank Agreement to Help Customers Buy Bitcoin With Dollars

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Bittrex Gets Bank Agreement to Help Customers Buy Bitcoin With Dollars

Seattle-based cryptocurrency exchange Bittrex Inc. has established a formal agreement with Signature Bank in New York to allow corporate clients in specific states to purchase virtual tokens using USD. The move is designed to increase the amount of institutional capital making its way through the crypto space.

Chief executive officer of Bittrex Bill Shihara says the exchange has been working on this partnership for months. “It’s been a long path,” he commented. “It’s not just about banks being able to trust Bittrex; it’s about banks being able to trust crypto in general, and I think it’s really showing that crypto is turning the corner in terms of mainstream acceptance.”

Due to regulatory uncertainty surrounding virtual currencies, many established financial institutions continue to associate them with money laundering and related criminal activity, and have chosen to avoid them altogether. Last February, for example, customers who tried to purchase digital currency through Citigroup were treated to serious delays and cancelled transactions after the investment firm made the decision to bar users from buying crypto using their debit cards or checking accounts.

This decision was later replicated by establishments like Chase and Bank of America, both of which implemented bans preventing customers from purchasing cryptocurrencies on major exchanges. Thus, many virtual currency marketplaces still only allow customers to trade between digital assets, rather than dollar for crypto or vice versa.

However, some banks are beginning to show signs of change in both attitude and business protocol, and have become more welcoming of cryptocurrencies. Popular digital currency exchange Coinbase has recently developed partnerships with Cross River Bank, Metropolitan Bank and Silvergate Bank in the United States. The company has even garnered a Barclays PLC bank account in the United Kingdom.

Noble Bank International in San Juan, Puerto Rico, also took over banking duties for Bitfinex in 2017 after the exchange’s relationship with Wells Fargo came to a sudden end.

Discussing the needs of traditional banks, Shihara went on to say, “They really do look and pour through the entire business. They want to make sure we’ve got robust AML/KYC processes and that we’ve got the right controls on our finances. They do background checks and everything. They really look at our business soup to nuts.”

Bittrex, which boasts roughly 3 million customers around the world, allows users to trade up to 200 different digital coins. Fiat trading capabilities will also be launched May 31, 2018, for bitcoin, Tether and TrueUSD. At press time, the service is only available to corporate clients in New York, California, Washington and Montana, though executives say they are working to expand this capability to retail investors once regulations are more defined.

This article originally appeared on Bitcoin Magazine.

Continue Reading Revamps Website and Adds New P2P Features

Source From Revamps Website and Adds New P2P Features

A few months ago reported on the platform growing popular and adding a few new features. Now the website has revamped its user interface and the website’s developer has added services like a direct crypto-to-crypto exchange and a shopping section where users can post items to sell for Bitcoin Cash.

Also read: The Exahash Era: SHA-256 Mining is a Significant Achievement in Computer Engineering Revamps the Site Again With Newly Added Features offers an escrow service so buyers and sellers can trade Bitcoin Cash (BCH) in a peer-to-peer fashion. The platform was launched in October 2017 in its beta stage and has seen a lot of changes since then. Localbitcoincash (LBC) pretty much offers the same services as its BTC counterpart Localbitcoins but also has a variety of other options for users. Since our last review, the website looks and feels completely different as the colors are now green and black in contrast to its older orange look. The front page shows a step-by-step walkthrough detailing how to use LBC alongside a list of buyers and sellers below this field. Revamps Website and Adds New P2P Features
The exchange.

LBC’s Fiat and Crypto-to-Crypto Exchange

The sidebar to the left has a bunch of different options which include the fiat exchange where users can swap BCH for fiat currencies. Looking at the list of buyers and sellers on Localbitcoincash shows the platform seems to be getting a fair share of users. People from various locations all around the world are selling increments of BCH for their local currency. At the time of publication, prices range from the current spot market price found on online exchanges and some traders are selling for a few hundred more per BCH. Revamps Website and Adds New P2P Features
The fiat exchange.

The peer-to-peer LBC platform also has a crypto-to-crypto exchange that operates just like Shapeshift or Changelly but without fees. Revamps Website and Adds New P2P Features
The peer-to-peer platform also has a crypto-to-crypto exchange that operates similarly to Shapeshift, and Changelly.

Peer-to-Peer Escrow Shopping

Similarly to the operations of the aforementioned platforms, LBC gives registered users a deposit and receiving address so they can swap BCH for cryptocurrencies like BTC, Dash, Ethereum, Smartcash, Steem, and more. Under this feature on the sidebar is the send BCH by email service which allows users to easily send BCH to someone in this mannner. Furthermore, on May 30, the LBC developer announced the addition of a peer-to-peer shopping section where users can sell items for BCH. Revamps Website and Adds New P2P Features
LBC’s newly added shopping section that allows people to sell goods via escrow.

“After many weeks of hard work, we are really excited to announce the launch of our peer to peer online shopping platform,” explains the LBC representative. “This means that anyone can trade with anyone freely, instantly and safely via escrow. Anyone can be a seller today and sell physical or digital products — There are no commissions at all by the platform and we don’t have any restrictions built in so users are welcome to message the sellers directly to deal outside of this platform.”

All these additions fit with our objective of allowing anyone to earn a living online, especially people from failed states and corrupt countries. In many of these places, citizens had to suffer from the consequences of the failed government for many decades — Our hope is that with Bitcoin Cash, this will change and help lift someone up from poverty into economic freedom and equality.

The fiat exchange shows traders selling BCH are located all around the world but some have a cap on how much they are willing to sell. A great majority of the peer-to-peer trading arrangements on Localbitcoincash are ‘Meetup’ swaps where individuals meet in person to trade fiat for BCH. In order to get a scope of what type of trade an individual is offering simply hit the ‘view’ tab to read the trader’s arrangements. The developer of LBC is adding to the website regularly and with each visit the trading portal seems to be more user-friendly over time.

What do you think about the exchange Localbitcoincash? Let us know what you think in the comment section below.

Images via Shutterstock, and

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Canadian Crypto Exchanges Push for Greater Regulatory Clarity

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Canadian Crypto Exchanges Push for Greater Regulatory Clarity

Representatives of Canada’s cryptocurrency industry are urging lawmakers to provide greater clarity regarding the regulatory obligations of cryptocurrency exchanges. In response to the absence of clear guidelines, a number of Canadian virtual currency exchanges have taken it upon themselves to voluntary register and report to Canada’s financial regulator.

Also Read: Markets Update: Volume Rankings Report for May 2018 – EOS Dominates Leading Exchanges

Canadian Crypto Exchanges Push for Greater Regulatory Clarity

Canadian Crypto Exchanges Push for Greater Regulatory ClarityCanadian media has reported that a number of local cryptocurrency proponents are calling for greater clarity regarding the regulatory apparatus governing the operations of virtual currency exchanges.

Joseph Weinberg of Shyft, a company providing identification verification services using blockchain technology, has argued that exchanges have been left in the dark as to their regulatory obligations. “Until you have regulators come out and say, ‘This is what you have to do,’ as an exchange, you’re kind of guessing and hoping for the best, which is a big problem,” Mr. Weinberg said.

Cole Diamond, the chief executive of Toronto-based cryptocurrency exchange, Coinsquare, stated: “We want to be regulated because ultimately we want to be able to provide certainty to our customers that we’re not some fly-by-night trading platform, that they can trust us.”

Canadian Exchanges Adopt Self-Reporting Practices

Canadian Crypto Exchanges Push for Greater Regulatory ClarityIn the face of stark regulatory uncertainty, several Canadian exchanges have taken it upon themselves voluntarily to report to the Financial Transactions and Reports Analysis Centre of Canada (Fintrac).

Mr. Diamond states that upon initially approaching Fintrac, “they told us we shouldn’t be registered there. We decided to do it anyway because we explained to them we don’t have anywhere else to go. We want to be regulated.”

Despite expecting taking early steps to ensure regulatory compliance will give his exchange a competitive advantage in the long run, Mr. Diamond notes that Coinsquare’s “revenue and trading volume could be at least five-times larger if we did not have an internal compliance regime”

Einstein Exchange CEO Anticipates Early Compliance Will Pay Off Long Term

Canadian Crypto Exchanges Push for Greater Regulatory ClarityVancouver-based Einstein Exchange has also adopted a voluntary reporting regime with Fintrac, in addition to taking measures to minimize the risk of credit card occurring on its platform.

Michael Gokturk, the chief executive of Einstein Exchange, recounts that the exchange was hit with $8.3 billion USD worth of attempted fraud in a single day early into the exchange’s acceptance of credit card payments. “Our system went nuts,” Mr. Gokturk.

Mr. Gokturk added that whilst “It’s so easy to get into this market and it’s so easy to take advantage of the lack of regulation. The best exchanges will welcome regulation and transparency and that’s what we’re trying to do. We welcome it with open arms.”

Do you think that regulators worldwide will soon adopt clear regulatory apparatus for companies operating with cryptocurrencies? Share your thoughts in the comments section below!

Images courtesy of Shuttestock

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Crypto Learning Centers and Courses on the Rise in Japan, Thailand, and South Korea

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Learning centers, courses, and crypto educational seminars are on the rise in Japan, Thailand, and South Korea. Bitcoin no Madoguchi and Bit Station have opened up to offer guidance to Japanese investors. The Cryptoasset Revolution course and Cryptonist’s seminar are happening soon in Thailand. Meanwhile, Decenter University and Koscom have launched training courses in South Korea.

Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space


Crypto Learning Centers and Courses on the Rise in Japan, Thailand, and South KoreaIn Tokyo, “Bitcoin no Madoguchi” (loosely translated as “Bitcoin’s Window”) recently started offering information on cryptocurrencies, crypto exchanges, and the latest news in the space. The shop is currently accepting reservations from customers seeking guidance. The company’s website explains:

You can receive explanations and guidance about virtual currencies for free from the concierge at a real store so that novice investors in virtual currency can enjoy bitcoins and altcoins easily.

While the information offered by the store is currently tailored for those considering a crypto investment of 1 million yen (~$9,206) or more, the company is planning to offer a service for anyone wanting to start investing.

According to local media, the store offers information on major cryptocurrencies such as BTC and ETH as well as major crypto exchanges in Japan including Tech Bureau’s Zaif, Bitflyer, Bitbank, GMO Coin, and DMM Bitcoin.

Crypto Education on the Rise in Japan, Thailand, and South Korea
Bitcoin no Madoguchi.

In Osaka, the Sankei Biz reported last week that Zero Base has opened up Bit Station educational center in the main shopping district of Osaka to provide general information on cryptocurrencies for those “who cannot take the first step in virtual currency trading.” The news outlet detailed:

The store will provide information on various cryptocurrencies and exchanges, how to use various exchanges, how to open accounts at various exchanges, how to store cryptocurrencies in wallets, and tax consultation.

The store has information on Bitflyer, Zaif, DMM Bitcoin, GMO Coin, and other domestic and overseas exchanges, the publication described, adding that customers can learn about cryptocurrencies such as “bitcoin, ripple, [and] cardano.” According to its Facebook page, Bit Station “is a real shop that supports the opening of accounts of exchanges, to the point where you can actually trade.”

Crypto Education on the Rise in Japan, Thailand, and South Korea
Bit Station.


Crypto Learning Centers and Courses on the Rise in Japan, Thailand, and South Korea
The Cryptoasset Revolution team. (Photo credit: Siamturakij)

The Thai Fintech Association has launched the Cryptoasset Revolution (CAR) course in collaboration with Icora Co. Ltd, according to Nation Multimedia. The course “will provide participants with a complete understanding and knowledge about investing in crypto assets and initial coin offerings (ICOs),” the news outlet added, noting that the first course will take place at the Grand Hyatt Erawan hotel in Bangkok from June 12 to August 14 and will cost 185,000 baht (~$5,755).

Korn Chatikavanij, Chairman of the Thai Fintech Association, detailed:

The Crypto Asset Revolution course is the first programme in Thailand that has a complete curriculum about the global crypto economy…The course will integrate both intensive theoretical and practical situations to prepare participants to understand and analyse market trends, help with business planning, recognise opportunities and threats and how to deal with potential critical market situations.

Meanwhile, another crypto firm, Cryptonist, is holding a meetup on May 31 and inviting everyone to come and learn about cryptocurrencies. Attendees will also learn about the Thai crypto regulations and arbitrage.

South Korea

Crypto Education on the Rise in Japan, Thailand, and South KoreaIn South Korea, Decenter University has launched an introductory course on cryptocurrency and blockchain technology. The 9-week course runs every Monday between June 11 and August 6. A total of 70 students will be admitted on a first come first serve basis, the university’s website details.

The course aims to help students “Understand exactly the origin and working principles of Bitcoin and Etherum; Understand the impact that blockchains have on existing industries by analyzing key projects using blockchain; [and] Identify the global government and financial industry visions and trends toward the blockchain. Students will also have the opportunity to network “with experts and participants” in the industry.

Crypto Education on the Rise in Japan, Thailand, and South KoreaAnother company that recently announced the launch of a crypto-related training program is Koscom. The company said Monday that its crypto and blockchain training course for its employees, the Korean Stock Exchange (KRX), and brokerage firms has started and will run through July, Ddaily reported.

Crypto Learning Centers and Courses on the Rise in Japan, Thailand, and South Korea
Koscom’s CEO Jung Ji-Seok launched a blockchain and crypto training course. (Photo credit: Ddaily)

Koscom is a leading IT service provider in the capital market, providing a wide range of IT systems including a trading system for securities and derivatives market. The news outlet elaborated:

The course consists of a comprehensive coaching course, including Bitcoin Core, consensus algorithm, ICO analysis, blockchain development, and project progression, along with basic knowledge of block chains.

What do you think of these crypto educational resources? Let us know in the comments section below.

Images courtesy of Shutterstock, Decenter University, Koscom, Bitcoin no Madoguchi, Zero Base, Bit Station, Ddaily, and Siamturakij.

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Let's Talk Bitcoin! #367 Full Circle

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On Today’s Episode of Let’s Talk Bitcoin…

Stephanie and Adam sit down with Bill Barhydt, CEO of Abra. They discuss his path towards solving the hard problems of remittance in real life, and the stablecoin system you’ve probably never heard of.

New Stuff:

Tip LTB via the Lightning Network! (

Tip LTB with good ol’ fashioned Bitcoin – 1M7co3XSdJ1w7SibMQNXdH4QGjC2Jae7VX

Let’s Talk Bitcoin! #367 was sponsored by and

Content for today’s show was provided by Stephanie, Bill and Adam. This episode was edited by Matthew Zipkin

This episode featured music by Jared Rubens and General Fuzz

Any questions or comments? email

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