Mt Gox terminates relationship with Technocash (Australia) June 15th

[BCB]

https://www.mtgox.com/press_release_20130604.html

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[yocko06]

this isn't good for us in Australia. seems local bitcoins is the only option left now. I have been watching a few of the business in Australia drop their services. bitinnovate, spendbitcoins now techno cash.
I know they are all doing it out of fear of what all these new regulations might do to their business but dam this sucks.
We really need some licensed money transmitters to start exchanging bitcoin. I know everyone will hate me for saying that but we need to have a legitimate way of getting big amounts of money in and out of bitcoin.

[Bitcoinpro]

they have given no reason for the move and spend bitcoins still seems to be up

https://www.spendbitcoins.com/buy/

[worldinacoin]

If you read the NSW Police Minister and Chief comments on Bitcoin, it seems that they are quite hostile to it.   I don't think it is easy to get all the permits for a Bitcoin exchange in Australia.

[Bitcoinpro]

If you read the NSW Police Minister and Chief comments on Bitcoin, it seems that they are quite hostile to it.   I don't think it is easy to get all the permits for a Bitcoin exchange in Australia.

where did you hear about this ill give them a call

[Bitcoinpro]

you must be referring to this

NSW Police Minister Michael Gallacher says the phenomenon is causing serious concern inside the state government, with evidence that Bitcoins are being used to buy firearms, child exploitation material, stolen credit card data, forged passports, bomb-making instructions and extremist literature. ''This is without question going to be one of the challenges that defines modern policing,'' he says.

Read more: http://www.smh.com.au/technology/technology-news/more-than-play-money-20130531-2nh5p.html#ixzz2VFzAXmBt

[Bitcoinpro]

the NSW police minister Michael Gallacher has infringed on the Crypto Currency Constitution and will be made aware of this accident, any problems he has with bitcoin in future, he can talk to me first

[Bitcoinpro]

The Australian Crime Commission's acting chief executive, Paul Jevtovic  has also infringed on the Crypto Currency Constitution

note: they put some stand in because they realized getting the ACC chief executive mixed up in this would not be wise

[yocko06]

they have given no reason for the move and spend bitcoins still seems to be up

https://www.spendbitcoins.com/buy/

yes you can still buy bitcoin without a problem but selling bitcoin option has gone.

[yocko06]

What do propose happens to all the bitcoin investors and miners? bitcoin is hardly a currency used for drug deals. Most of the bitcoin users don't spend their coin they hoard them and trade in the highs and lows.

[bigdude]

what about weexchange.co ??

[doom309]

this isn't good for us in Australia. seems local bitcoins is the only option left now. I have been watching a few of the business in Australia drop their services. bitinnovate, spendbitcoins now techno cash.
I know they are all doing it out of fear of what all these new regulations might do to their business but dam this sucks.
We really need some licensed money transmitters to start exchanging bitcoin. I know everyone will hate me for saying that but we need to have a legitimate way of getting big amounts of money in and out of bitcoin.

bitinnovate is up and running, with all services available as far as i can see

[yocko06]

this isn't good for us in Australia. seems local bitcoins is the only option left now. I have been watching a few of the business in Australia drop their services. bitinnovate, spendbitcoins now techno cash.
I know they are all doing it out of fear of what all these new regulations might do to their business but dam this sucks.
We really need some licensed money transmitters to start exchanging bitcoin. I know everyone will hate me for saying that but we need to have a legitimate way of getting big amounts of money in and out of bitcoin.

bitinnovate is up and running, with all services available as far as i can see

This is a email I got from bitinnovate after asking about why they have stopped this service.
Hi yocko06,

Due to some of the recent issues that other exchange services have had (as covered in the press), we've decided to close our Sell service pending a full legal and technical audit. We've not had any direct pressure to do this, but have decided to do so with the hope of confidently bring the service back online as soon as possible.

We apologies for any inconvenience this may have caused. I can assure you that we are doing everything we can to confidently bring this service back online as soon as possible.

[yocko06]

they have given no reason for the move and spend bitcoins still seems to be up

https://www.spendbitcoins.com/buy/

This is the email from spend bitcoins about this.
Hi there,

Are there others who have stopped? I know Mt Gox has stopped taking deposits via technocash but still does cashouts to bank accounts. We simply didn't have the manpower to do both and decided to focus where there was the most demand, which was on the buy side.

I do think that as governments start watching bitcoin legitimate white market businesses like ours are wanting to ensure we are not breaking any regulations in order to stay in business and as such if we decide to bring this service online again we will need to put in ID requirements etc to ensure we are fully within anti-money laundering regulations.

We do have hundreds of sites listed at http://spendbitcoins.com/places which enable people to simply spend their bitcoins instead of cashing them out. This short circuits the process and should actually make things easier for people who have bitcoins. Why exchange them for a different currency when you can just spend them?

Please let me know if I can be of any further assistance. That's what I'm here for.

Happy spending,
Jeremy West
Founder and Director of Customer Service
Spend Bitcoins
http://spendbitcoins.com

[yocko06]

These are both good company's and I hope they can get on top of things ASAP.
It seem there is more self regulating going on than any government push to regulate.

[metalh47k]

I think in order to satisfy Paul Jevtovic and Michael Gallacher more needs to be done in order to audit the money that goes into the exchange.

I understand its our coin/money we shouldn't have to tell people what we do with it but if Bitcoin is to survive in the Australia wild it needs to be able to be track, even its only one way.

For example: Lets say there is a new AUS exchange called SAUDEXC.

I would required to have an account with "SAUDEXC".
This account would require listing with the police, ID (Drivers Licence) authenticated and updated.

Making it it harder for those who would want to use it to launder or purchase illegal items to stay untraceable.

I have nothing to hide from them.

I watched an interesting video yesterday (specifically addressing  US Taxation only NOT AUSTRALIAN) http://www.youtube.com/watch?v=B3_lkLh-Xw0

Creating an exchange company is currently in the pipeline for us for 2014 Dec. We have started hashing out the project plan. I am keeping a close eye on how the Australian government handles Bitcoin as it will either make or break my business plan.

[NedKLee]

The Australian Crime Commission's acting chief executive, Paul Jevtovic, says the virtual currency's anonymity makes it highly attractive to criminals and money launderers, though little is yet known about how widespread it is in illicit markets. Bitcoin has become of growing concern to the agency. ''The ACC is currently working with partners to explore the Bitcoin market and other digital currencies, to better understand its size and criminal threat,'' he said.

Read more: http://www.smh.com.au/technology/technology-news/more-than-play-money-20130531-2nh5p.html#ixzz2VJHgzdY4

Yeah right, stop Aussies using Bitcoin and overnight all illicit practises will cease, guns, drugs, porn you name it.

What a load of crap.

Ah we'll, one door closes, another one opens, heard there's a bloke selling shares in the Sydney Harbour Bridge.

[BitHub]

ahhhhhhhhhhhhhh.....

[aspiring]

ahhhhhhhhhhhhhh.....

If it helps, I'm looking to buy BTC for Australian dollars, I'm always in or close to Melbourne, Victoria and happy to trade in-person.

[zhoutong]

ahhhhhhhhhhhhhh.....

If it helps, I'm looking to buy BTC for Australian dollars, I'm always in or close to Melbourne, Victoria and happy to trade in-person.

Now you can buy Bitcoin at CoinJar (https://coinjar.io) using AUD, a Melbourne-based startup I co-founded with two other guys. CoinJar Filler charges only 2% fee.