Irish Pub Abandons Bitcoin, Cites Legal Concerns

By October 2, 2014Bitcoin Business
Click here to view original web page at www.coindesk.com

Dublin’s first bitcoin pub has unplugged its bitcoin ATM and stopped accepting payments in the digital currency, citing legal issues.

Earlier this year, The Baggot Inn became the first pub in Ireland’s capital to accept bitcoin, announcing its first transaction via Twitter back in March.

View image on TwitterEmbedded Tweet

The pub’s Robocoin bitcoin ATM arrived later that month. CoinDesk contacted the venue for clarification on where the machine will go now it is out of action, but no response had been received at press time.

Legal status

The Baggot Inn issued a statement explaining its decision to suspend its bitcoin services:

“We regret to announce, but due to ongoing issues regarding the legality of bitcoin ATMs in the Republic of Ireland we can no longer accept bitcoin payments.”

The bitcoin section of the pub’s website is still live, but the main page states: “Unfortunately we can no longer accept bitcoin payments.”

Although other establishments in Ireland have started accepting bitcoin, as far as active ATMs go, the country is now down to one – a Skyhook machine operated by BitEx.ie, installed at computing retailer GSM Solutions on Abbey Street, Dublin.

ATM woes commonplace

New Zealand’s Bitcoin Central was forced to shut its doors late July, after local banks refused to provide financial services to the company. Bitcoin Central had launched its first Robocoin ATM just a month prior on 3rd June.

A planned rollout of Robocoin machines in Taiwan was derailed after the local regulator said it would block the installation of bitcoin ATMs.

Taiwan’s Financial Supervisory Commission (FSC) cited a joint statement it made in partnership with the country’s central bank, which stated that bitcoin is not a currency and that no bank deposits are allowed in bitcoin.

Installing a bitcoin ATM would require FSC approval and the regulator made it clear that approval would not be granted.

Earlier this year, The Baggot Inn  became the first pub in Ireland’s capital to accept bitcoin, announcing its first transaction via Twitter back in March. Embedded Tweet The pub’s  Robocoin bitcoin ATM arrived later that month. CoinDesk contacted the venue for clarification on where the machine will go now it is out of action, but no response had been received at […]

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