Bitcoin News Mashup: Bank Bans Bitcoin Exchange; Bitcoin Foundation Plea to US Court; and More

By August 4, 2014Bitcoin Business
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Following are the main Bitcoin events of the day

Argentinian Banks Close Bitcoin Exchange Accounts
Effective from today, UniSend – one of the most renowned Bitcoin exchanges in Argentina – will stop accepting depots and withdrawals linked to SantanderRio Bank and Banco Galicia. The exchange blamed the two mentioned banks for closing their accounts because of which they had to stop all kind of financial activities. Unisend wrote:

“As of Monday, August 4 Unisend will stop accepting deposits and bank transfers to accounts SantanderRio Bank and Banco Galicia. These banks based on Article 792 of the Commercial Code have decided to close our bank accounts, without even communicate the reasons. This item allows you to close a bank account if so provided without some particular reason. We see this as discriminatory and arbitrary since from us comply with all requirements and regulations.”

Bitcoin Foundation Urges US Court to Drop Charges against Local Bitcoins User
The Bitcoin Foundation submitted an “amicus curiae” in the court of Florida, USA, for the case involving user Pascal Reid. The accused was arrested earlier this year on the charges of money laundering and operating unauthorized fund transfers. Speaking to CoinDesk, Bitcoin Foundation members said that the purpose of the presentation is to ensure that the large community of Bitcoin in Florida is not subjected to laws that impose inappropriate restrictions on cryptocurrency transactions.

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Former Rapper Comes in Support of Bitcoins
The famous American hip-hop artist Nasir Jones, aka NAS, took a radical turn in his career after deciding to leave music industry to engage in technological startups in Silicon Valley. After being part of a number of successful ventures, the singer-turned-successful businessman became interested in the Bitcoin industry after establishing relationships with Ben Horowitz (of Andreessen Horowitz) and Chris Dixon. In an interview CoinDesk, NAS favored Bitcoin by predicting it be bigger than internet in future. “Ben Horowitz really opened my eyes. Bitcoin is not in the Internet age but marks a new era,” he quoted.

To contact the reporter of the story: Yashu Gola at

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