EvanFaggart (OP)
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April 25, 2016, 02:35:08 PM |
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Bitstamp has relocated its headquarters to Luxembourg, where it has received a national Payment Institution license. Bitstamp says this makes them the first nationally regulated exchange in the world, whereas other licensed exchanges just have a handful of licenses in various US states. What do you guys think about this news? Article link: https://news.bitcoin.com/bitstamp-luxembourg-nationally-compliant/ |
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unamis76
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April 25, 2016, 03:21:23 PM |
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What does this mean for endusers? They were already allowed to proceed with fiat cashouts, what does this regulation add? I don't see good things coming out of this, but I am likely misinformed... Good news there is they'll be creating a BTC/EUR pair  |
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LiteCoinGuy
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April 25, 2016, 03:27:36 PM |
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great achievement!  |
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EvanFaggart (OP)
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April 25, 2016, 03:29:21 PM |
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What does this mean for endusers? They were already allowed to proceed with fiat cashouts, what does this regulation add? I don't see good things coming out of this, but I am likely misinformed... Good news there is they'll be creating a BTC/EUR pair Nejc told us that he and his company believes coming into regulatory compliance is one of the best ways to help Bitcoin go mainstream. He believes that by securing a direct line with regulators, rather than the indirect regulation imposed through banking partnerships, banks and other financial institutions will feel more comfortable dealing with Bitcoin. |
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calkob
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April 25, 2016, 03:30:00 PM |
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Sounds like great news, the US looks like a closed shop to bitcoin in some states, companies will just relocate.
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LFC_Bitcoin
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April 25, 2016, 03:40:22 PM |
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great achievement! Exactly the first thing I thought when I saw it. I don't see how this can be seen as anything other than positive. |
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bitcoin-hunter
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April 25, 2016, 05:34:21 PM |
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great achievement! Exactly the first thing I thought when I saw it. I don't see how this can be seen as anything other than positive. It's a good step in the right direction. This should be the new standard when it comes to exchanges vs licenses. Let's see if anyone will follow them. |
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Jasad
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= jasad =
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April 25, 2016, 05:41:07 PM |
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Bitstamp has relocated its headquarters to Luxembourg, where it has received a national Payment Institution license. Bitstamp says this makes them the first nationally regulated exchange in the world, whereas other licensed exchanges just have a handful of licenses in various US states. What do you guys think about this news? Article link: https://news.bitcoin.com/bitstamp-luxembourg-nationally-compliant/really?bitstamp become nationally-licensed Exchange for Luxembourg? if that really happen,its will be a good news for people,bitcoin start have good place on goverment side,and i'm sure other countries will interesting to follow this step. |
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alyssa85
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April 25, 2016, 05:44:03 PM |
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What does this mean for endusers? They were already allowed to proceed with fiat cashouts, what does this regulation add? I don't see good things coming out of this, but I am likely misinformed... Good news there is they'll be creating a BTC/EUR pair It means that bigger investors might dip a toe in. At the moment they won't do it because of the risks (losing coins/hacking etc). |
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mobnepal
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April 25, 2016, 06:37:37 PM |
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Seems good news but to know what will happen next we have to wait how successful their operation could be in their new location. Being nationally licensed exchange could be pain in the ass if government try to push their nose quite deep inside their exchange platform. Hope there will be no any legal issues.
Good for bitcoin price and stablity, new investors may get into cryptoworld.
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Junko
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April 25, 2016, 06:38:06 PM |
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It means Bitstamp gains a degree of legitimacy, while users maybe get an extra sense of security. And of course, it also means the Luxembourg regulators will get something nice in return as well.  |
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Amph
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April 25, 2016, 06:45:04 PM |
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What does this mean for endusers? They were already allowed to proceed with fiat cashouts, what does this regulation add? I don't see good things coming out of this, but I am likely misinformed... Good news there is they'll be creating a BTC/EUR pair Nejc told us that he and his company believes coming into regulatory compliance is one of the best ways to help Bitcoin go mainstream. He believes that by securing a direct line with regulators, rather than the indirect regulation imposed through banking partnerships, banks and other financial institutions will feel more comfortable dealing with Bitcoin. this make less sense, shouldn't regulations imposed by bank, make banks more confortable to deal with bitcoin, since they are the one that are imposing the regulation? |
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tyz
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April 25, 2016, 06:47:33 PM |
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Great news! Luxembourg and Switzerland are once again pioneers in a new financial age. After they had to give up numbered accounts almost entirely because large pressure of the USA, now this offers a new business model for them with a much bigger impact on the economy.
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Denker
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April 25, 2016, 06:56:05 PM |
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The cool thing is I can now name an exchange to interested people which is fully regulated in all 28 countries of the European Union. I think this is really a great achievement and could help Bitcoin to be taken more serious and legal in the media and in the mind of some blockheaded doubters.
This may also attract institutional investors sooner or later, who knows.
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tuvok007
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April 25, 2016, 07:02:23 PM |
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Good news!
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Carlsen
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April 25, 2016, 07:17:16 PM |
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That would be some great news.
And because it's in Europe it means that 500 Mio people have access to it the same way.
Could bring the bitcoin a big step further in its developement on the old continent.
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yeswepump
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April 25, 2016, 07:30:28 PM |
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Sounds a big news for Bitcoin recognition in EU
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unamis76
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April 25, 2016, 07:52:40 PM |
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What does this mean for endusers? They were already allowed to proceed with fiat cashouts, what does this regulation add? I don't see good things coming out of this, but I am likely misinformed... Good news there is they'll be creating a BTC/EUR pair Nejc told us that he and his company believes coming into regulatory compliance is one of the best ways to help Bitcoin go mainstream. He believes that by securing a direct line with regulators, rather than the indirect regulation imposed through banking partnerships, banks and other financial institutions will feel more comfortable dealing with Bitcoin. It probably is. But it's also the best way to get governments putting their nose in what addresses you withdraw to and where you send the funds, and how much you send. It means that bigger investors might dip a toe in.
That's good. But at what cost? At the moment they won't do it because of the risks (losing coins/hacking etc).
They face exactly the same risks of losing coins/hacking they did before. |
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vlom
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April 25, 2016, 08:24:04 PM |
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this sounds great. but does this help to prevent an other mt.gox or cryptsy? are my BTC saver now after this announcement? i received their newsletter and could not find something about new security "features" for customers. the only write: providing all European customers with a robust, secure platform for bitcoin trading. |
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Denker
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April 25, 2016, 08:42:47 PM |
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this sounds great. but does this help to prevent an other mt.gox or cryptsy? are my BTC saver now after this announcement? i received their newsletter and could not find something about new security "features" for customers. the only write: providing all European customers with a robust, secure platform for bitcoin trading. Doesn't matter if this help to prevent another Mt.Gox drama! Most important rule: If it is not your keys, it's not your Bitcoin!!!! Therefore never store your Bitcoin on an exchange!! |
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