Categories: Bitcoin Entertainment

Bitcoin News Mash-Up: Bitnet Receives $14.5m; BitPay Letter to NYDFS; and More

Click here to view original web page at

Following are the main Bitcoin news of the day

Bitnet Receives $4.5m to Compete with Payment Processors
A group of veterans in the field of traditional payment systems collaborated to launch Bitnet recently. The new payment processing system alongside received a total of $4.5 million to compete accurately with the current competitions. The money will eventually help Bitnet bring the cryptocurrency’s sector largest traders under one roof. The Series A financing round is led by Highland Capital Partners, and also includes the Japan’s largest ecommerce platform Rakuten. Bitnet CEO John McDonnell told CoinDesk.COM:

“We saw bitcoin as an opportunity to reduce direct costs of processing and eliminate a lot of the ancillary costs of handling credit cards.”

BitPay Submits Its Official Comment on BitLicense
After the well-sketched letter by Circle, it is now the payment processor BitPay which has submitted its official reply to NYDFS-led BitLicense proposal. Like every other cryptocurrency-centered organization, BitPay too has raised concerns over the Bitcoin regulatory framework. It has suggested NYDFS to be open to new ideas, rather than creating unequal environment for them. The company’s CCO Tim Byun said:

“We also want to ensure that the proposed rules do not create an [uneven] playing field with other payment systems or disregard existing local, national, and international anti-money laundering frameworks that could be utilized rather than replaced by bitcoin-technology specific rules.”

BTC China Adds New Features to Its Trading Platform
Chinese exchange BTC China announced the launch of its new mining pool and a payment processor. Thus move marks another in the company’s transition from a simple exchange to an integrated service platform. In its statement, BTC China said:

“BTC China’s expanded portfolio covers all aspects of the digital economy, allowing a user to mine bitcoin and Litecoin in its mining pool, store it in BTC China’s wallet, pay for goods through its payment gateway, and trade for fiat on the exchange.”

To contact the reporter of the story: Yashu Gola at


Illuminati, Mason, Anonymous I'll never tell. I can tell you this, global power is shifting and those who have the new intelligence are working to acquire this new force. You matter naught except to yourself, therefore prepare for the least expected and make your place in the new world order.

Disqus Comments Loading...
Published by
Tags: carone

Recent Posts

Tim Draper: $250,000 Falls Short of BTC’s Potential

Tim Draper has made a real name for himself in the world of crypto given his consistent bitcoin price predictions… Read More

6 hours ago

Steve Schwarzman: I Don’t Have Much Interest in Crypto

As the CEO of investing firm Blackstone, CEO Steve Schwarzman says that he’s used to a world where currencies are… Read More

6 hours ago

Volatility for Bitcoin Hits Four-Month Low

At press time, you may not think bitcoin is doing much… And you’d be right. In fact, the currency has… Read More

6 hours ago

ECB Revives Plans for a Rival Coin to Libra & Bitcoin

Facebook feels the heat as the European Central Bank reels out plans to create a digital currency rivaling Libra and… Read More

6 hours ago

HyperCapital Announces Exciting Plans To Build The World’s Strongest Blockchain Community Alliance and Ecosystem

HyperCapital Hong Kong Community Meetup Event Hyper Capital announced the formal recruitment of 300 nodes to jointly promote POAR (Proof… Read More

6 hours ago

US Bookie Found Dead 1 Year After Wife Paid $1 Million Bitcoin Ransom

An American bookmaker kidnapped in Costa Rica has been found dead, even after a ransom of $1 million was paid… Read More

6 hours ago

This website uses cookies. We use these cookies to collect data about your interaction with our website for the purpose of continuously improving your experience with our site. For more information we encourage you to read our privacy policy.

Read More