Escape from New York: Kraken & Paxful Join ‘Bit-Exodus’
The deadline for mass exodus of Bitcoin companies from New York due to the authorities’ infamous BitLicense regulations has culminated over the weekend with the exit of several prominent companies such as Kraken and Paxful. August 8 was the deadline when digital currency companies doing business in New York State or with New York State residents had to either comply with state regulations or cease all business therein. We have chronicled the departure of the BitFinex, the world’s largest Bitcoin exchange, from the New York market, but that was just the tip of the iceberg. Joining them is....
Related News
San Francisco-based bitcoin exchange Kraken has announced the dismissal of its service in New York due to the state's BitLicense and strict regulations for financial exchanges. "Regrettably, the abominable BitLicense has awakened. It is a creature so foul, so cruel that not even Kraken possesses the courage or strength to face its nasty, big, pointy teeth. It's at least a 40-man, bro," the Kraken team wrote on their blog. According to the Kraken team, some of the reasons for their decision include no user-support from New York banks, no guarantee of enforcement against unlicensed....
Paxful has announced Paxful Pay, an ecommerce checkout integration that allows merchants worldwide to receive bitcoin as payment.
The Paxful affiliate program allows the people to be a part of the Bitcoin community as it rewards them for spreading the word about Bitcoin. Paxful is giving away 10 bitcoin or thousands of dollars in prizes to people who try out their simple affiliate program. Paxful is a listing service like Craigslist or Backpage. Sellers list their ads to sell you bitcoin for a certain price and to get payment a certain way. Once you find deal you like you start a trade with the seller. You’ll be in a live chat with them and they will tell you how to pay them, then once you pay they release the....
Jesse Powell, Kraken CEO, talks more in detail about why he decided to shut down Kraken’s headquarters in San Francisco. Kraken was one of the pioneering Bitcoin exchanges. They had this headquarters too in New York. However, New York announced a strict BitLicense regulation in 2015 which prompted Powell to remove Kraken from the Big […]
Paxful Roots, as the program is titled, is marketed as one of the world’s first peer-to-peer affiliate programs. A US-based Bitcoin marketplace claims that it has launched a new breed of affiliation program for traders. Paxful Roots, as the program is titled, is created under the watch of Delaware-based Paxful Inc. It is marketed as one of the world’s first peer-to-peer affiliate programs, in which traders referring business to Bitcoin sellers earn up to 2% of the total purchase made. Paxful’s role, meanwhile, stays committed towards providing wallet services to safely store and transact....