Kyber network and omisego surge 70% with bithumb integration bitcoin dips below $9000
33 commentsThe us government just approved the first bitcoin
With mounting pressure on online money exchanges from US regulators, payments processor OKPay has announced that it is suspending processing for all Bitcoin exchanges, including industry leader Mt. OKPay itself has had precious little to say publicly about the decision, other than issuing a one-line statement on its website to the effect that it is in the process of suspending its Bitcoin activities. The headline on the notice says the suspension is temporary, but to hear Mt.
Gox tell it, it may be some time before OKPay resumes business with the Bitcoin community. Gox customers and the Bitcoin community are well-informed about this development," reads a statement posted to Mt. Gox's website on Tuesday. The company says that while it's not exactly sure when OKPay processing will be shut off completely, Mt.
Gox will "soon" stop accepting payments via OKPay, probably within the next couple of weeks. Gox to OKPay accounts will not be cut off, but the amount that can be withdrawn will be limited to the amount that the customer had deposited via OKPay; any remaining balance will have to be withdrawn using other means.
Gox has run into problems with one of its payment processors. Just where the Bitcoin market falls under US law is unclear, because the legality of Bitcoin transactions has yet to be tried in court and law enforcement has refused to comment on ongoing investigations, such as the Dwolla case. The US Commodity Futures Trading Commission has said it is investigating whether Bitcoin transactions should rightly be governed by its rules, but no determination has been announced as yet.
Still, there's increasing evidence that regulators' interest in the online payment industry is growing. While Liberty Reserve didn't have any direct connection to Bitcoin payment processing, many in the Bitcoin community worry that the incident is a signal that the government is increasing its scrutiny of alternative payment schemes and that Bitcoin could be its next target.
For its part, Mt. Gox aimed to put a positive spin on the OKPay news, suggesting that the whole situation will sort itself out eventually. Gox wishes the best to OKPay, and we look forward to working together more closely in the future," the company's statement explained. Minds Mastering Machines - Call for papers now open.
The Register - Independent news and views for the tech community. Part of Situation Publishing. Join our daily or weekly newsletters, subscribe to a specific section or set News alerts.
The Register uses cookies. And you know who's going to be there? Hell yeah, those job cuts worked out great… for our investors. Source code forcibly ejected into public. Nation state cyber attack is an act of war Big bimmer bummer: VM-container chimera Kata Containers emerges from lab OpenStack makes Zuul continuous delivery tool its second indie project No root for you, or how to stop worrying and love AWS China Git push origin undo-my-last-disaster.
Policy The Channel 'Won't somebody please think of the children! Like a Pixel without the pratfalls, or eye-watering price tag. Artificial Intelligence Internet of Things Intel's latest promise: You needn't go back to uni to use it Can you handle the tooth? Verity Stob Swiss sausage sizzler 4. Michael Jackson's tilt was a criminally smooth trick Hitler 'is dead' declares French prof who gazed at dictator's nashers The harbingers of Doomwatch: Quist is quite the quasi-Quatermass.
Most read About to install the Windows 10 April Update? You might want to wait a little bit longer 'Facebook takes data from my phone — but I don't have an account! We'll extend Europe's privacy rights worldwide. More from The Register. Not enough competition in payment processing tech, thunders regulator Back in Bacs. Loose-change payment network Microraiden launches on Ethereum Might speed up the blockchain, but aren't they about cutting out the middle man?
Russian hacker clan exposed: They're called MoneyTaker, and they're gonna take your money Subtly named group has gone largely unnoticed until now. What if I told you that flash drives could do their own processing? You need more insight from more data to understand and serve increasingly powerful customers.
What are the three key areas of concern around Office email you should be aware of? Seeking to reduce costs and to provide better customer experience. Sponsored links Get The Register's Headlines in your inbox daily - quick signup!
About us Who we are Under the hood Contact us Advertise with us. Sign up to our Newsletters Join our daily or weekly newsletters, subscribe to a specific section or set News alerts Subscribe.