NEW YORK (Reuters) - The New York Department of Financial Services said on Wednesday it has rejected the application of Bittrex, a U.S.-based digital asset exchange, for a virtual currency license that it needs to operate in the state. In a statement, DFS said it denied Bittrex’s application due to deficiencies in the exchange’s capital, as well as anti-money laundering, requirements. The New York regulator also ordered Bittrex to cease operating in the state of New York and wind down its business within 60 days. Reporting by Gertrude Chavez-Dreyfuss; editing by Jonathan Oatis … [Read more...] about Bittrex virtual currency license rejected by NY financial regulator
New virtual currency
Bitstamp granted virtual currency license by New York financial…
NEW YORK (Reuters) - Bitstamp, Europe’s biggest digital asset exchange, has been granted a virtual currency license, the New York Department of Financial Services said on Tuesday. Bitstamp USA is the nineteenth company to receive a BitLicense from the department, which authorizes the company to conduct digital currency operations in the state of New York. “With today’s approval of Bitstamp’s virtual currency license, New York is showing that regulation and innovation can exist together,” Acting Financial Services Superintendent Linda A. Lacewell said in a statement. The state’s action authorizes Bitstamp USA to provide its customers with the ability to buy and sell bitcoin, along with select other virtual currencies, for U.S. dollars and vice versa. Bitstamp has also been authorized to facilitate transfers of funds onto the Ripple Network, issuing Ripple Balances in U.S. dollars, other virtual currencies, and select fiat currencies, including … [Read more...] about Bitstamp granted virtual currency license by New York financial…
U.S. charges My Big Coin virtual currency firm founder with fraud
BOSTON (Reuters) - The founder of a Nevada-based company was arrested on Wednesday on federal charges that he participated in a $6 million scheme to defraud people who wanted to buy a virtual currency called My Big Coin that he claimed was backed by gold. FILE PHOTO: Representations of the Ripple, Bitcoin, Etherum and Litecoin virtual currencies are seen on a PC motherboard in this illustration picture, February 13, 2018. REUTERS/Dado Ruvic/Illustration/File Photo Randall Crater, the principal operator of My Big Coin Pay Inc, was arrested in Florida after being charged in an indictment filed in federal court in Boston with seven counts of wire fraud and unlawful monetary transactions. The indictment came after the U.S. Commodity Futures Trading Commission last year sued the company, Crater and three others associated with My Big Coin Pay Inc and accused them of participating in a fraudulent virtual currency scheme. The lawsuit led to one of the first court rulings holding … [Read more...] about U.S. charges My Big Coin virtual currency firm founder with fraud
Razer’s new spin on its virtual currency lets you use your graphics card to mine for rewards
Razer has revamped its cyber currency and rewards system, introducing a new way of earning virtual credits – by using your GPU for crypto-mining.As you may recall, Razer launched its virtual currency in March 2017, but it has now rebranded zGold and zSilver as simply Razer Gold and Razer Silver. Although their function will stay the same, with Gold remaining the actual currency you can spend at stores (like GamersGate, for example, or Razer’s own store), and Silver being a system of loyalty points you can accrue to exchange for various rewards.The big news is that when it comes to earning Silver, it’s now possible to rack up credits using Razer SoftMiner, a Windows application (compatible with Windows 7, 8, and 10) which taps into the PC’s graphics card, using any idle downtime for a spot of blockchain mining.Manic MinerThe longer you leave SoftMiner running, and the more powerful your GPU, the more Razer Silver you will accumulate.All you have to do is install … [Read more...] about Razer’s new spin on its virtual currency lets you use your graphics card to mine for rewards
Fifa Points MYSTERY as virtual currency fails to appear and leaves Brits out of pocket
EA has said it is "still investigating reports of missing FIFA points" for players on PS4 and Xbox One. It comes as thousands of players take to Twitter and other social media channels to complain about paying for points so they can buy Ultimate Team packs during the firm's Black Friday sales only to not get them in time. Responding to complaints this morning, EA's Help account on Twitter said "We are aware of players that still haven't gotten their points from last Friday and are looking into getting them added still." Typical of the complaints is one from Joshua on Twitter, saying: "Missed out on pretty much the whole event, too worried to put more money in without getting what I paid for. Your company is far too quick to take the money from the players." One unfortunate Aston Villa fan on the social media site also summed up players' feelings, saying "This is madness. We only got the Fifa points for the promo packs and they will be long gone by the time we get our points." "Same … [Read more...] about Fifa Points MYSTERY as virtual currency fails to appear and leaves Brits out of pocket