The bank account of a Polish Bitcoin
Bitcoin
While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that
While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that
Read this Term Exchange
Exchange
An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv
An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv
Read this Term, BitMarket.pl, has reportedly been suspended by Bank BPH.
Exchange founder Michal Pleban says the suspension was made upon request by the local district attorney's office after a transaction on the exchange was allegedly performed with stolen funds.
The move highlights what has been a long-standing concern of banks in doing business with crypto exchanges. Bitcoin's anonymity makes illicit transactions of such a nature possible and difficult to police. To date, most instances we hear of account closures have been of a preemptive nature; Risk-averse banks are opting not to take chances in what is still an unregulated industry. Rarely have we seen such action taken due to the alleged transfer of illegal funds.
The exchange says to have never received advance notification of the closure, instead finding out on January 26 after it already took place. Bank BPH initially said the suspension was a technical glitch, but later said it was due to outstanding debt and a "lack of credentials."
The exchange is now looking for a Bitcoin-friendly bank, in the meantime using the services of a payment processor to store and transfer fiat funds.
Another Polish Bank, Bank Zachodni WBK, has also allegedly been terminating accounts used for bitcoin trading, telling clients that Polish regulators have yet to issue regulations and guidelines on the matter.
The bank account of a Polish Bitcoin
Bitcoin
While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that
While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that
Read this Term Exchange
Exchange
An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv
An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv
Read this Term, BitMarket.pl, has reportedly been suspended by Bank BPH.
Exchange founder Michal Pleban says the suspension was made upon request by the local district attorney's office after a transaction on the exchange was allegedly performed with stolen funds.
The move highlights what has been a long-standing concern of banks in doing business with crypto exchanges. Bitcoin's anonymity makes illicit transactions of such a nature possible and difficult to police. To date, most instances we hear of account closures have been of a preemptive nature; Risk-averse banks are opting not to take chances in what is still an unregulated industry. Rarely have we seen such action taken due to the alleged transfer of illegal funds.
The exchange says to have never received advance notification of the closure, instead finding out on January 26 after it already took place. Bank BPH initially said the suspension was a technical glitch, but later said it was due to outstanding debt and a "lack of credentials."
The exchange is now looking for a Bitcoin-friendly bank, in the meantime using the services of a payment processor to store and transfer fiat funds.
Another Polish Bank, Bank Zachodni WBK, has also allegedly been terminating accounts used for bitcoin trading, telling clients that Polish regulators have yet to issue regulations and guidelines on the matter.
