APR 23 DIGEST: BitLicense Coming in May, Bitcoin Fax Service Launches
NYDFS Superintendant Benjamin Lawsky has suggested that the BitLicense bill will be finalized by the end of May; a registration-free online faxing service has launched taking payments per fax in bitcoin and more news
New York Department of Financial Services Superintendant Benjamin Lawsky has suggested that the BitLicense bill will be finalized by the end of May; a registration-free online faxing service has launched taking payments per fax in bitcoin and more top new stories for April 23.
BitLicense coming ‘by the end of May’
Speaking during a Dow Jones risk and compliance meeting, New York Department of Finance Superintendant Benjamin Lawsky has suggested the controversial BitLicense bill will be finalized at the end of May. Some commentators believe this suggest that the regulations may be a simplified version of the earlier draft bills. Lawsky:
“We’re going to see how this all shakes out. I think there’s room for federalism, but at the same time if you have a whole series of different rules and it becomes a crazy quilt patchwork that can get hard to comply with.”
Bitcoin fax service launches
Allowing users to send a PDF document as a conventional outbound fax without registering for an account, BitcoinFax is hoping to take a slice out of the strangely still-existent fax market. Helping those still in need of sending a fax, the service requires no monthly fees and takes a per-fax-sent payment in bitcoin. Reddit user Vswr has been testing it out:
Major UK payment processor working towards accepting bitcoin
Working alongside BitcoinPayGate.com, UK payment processor NorthPayments stated that it is looking to add bitcoin to its roster of 220 existing payment options. Serving over 20,000 merchants, the move could make the digital currency more relevant and spendable for many online shoppers. CTO, Mark Tillotson:
“We are continuing innovation and are forward thinking. BitCoinGate is a strategic partnership."
Netki announces plan to replace BTC addresses with wallet names
Envisioning a simpler way in which digital currency users can remember and give out their wallet address, Netki is working towards a solution mixing the NameCoin blockchain and a secure DNS lookup service. The combination of these two means compatible wallets could be sent funds through address such as wallet.username.bit.
“Netki’s solution works on a deceptively simple premise. Just as Domain Name Servers made the Internet more “human-friendly” by translating domains like www.google.com into a lengthy numeric IP address, Netki’s Wallet Name Service links a simple name such as Satoshi.bit to a user’s 32-character wallet address.”
Gyft looks to the blockchain to secure a new generation of gift cards
Having already made a name for itself in the digital currency market by accepting BTC payments for giftcards, Gyft is now discussing how a new generation of gift cards could help prevent fraud by backing the cards with bitcoin. Hoping this demand for bitcoins would stabilize the market price, the start-up envisions rule based gift cards “closing the loop” on fraudulent purchases.
“Ordinary people will only start using bitcoin when they’re using it without knowing they are using it,” the entrepreneur quipped. “It’s too technical for most people. So we looked at ways in how we can make bitcoin more interesting.”
Ciphrex recruits cyber-security expert Michael Perkins to board of advisers
Cryptocurrency start-up Ciphrex has welcomed security expert Michael Perkins to its board of advisers with the aim of aiding the development of the company following its US$500,000 Series A funding round. Perkins has already worked with the company informally, but now has committed his security knowledge in assisting Ciphrex build their enterprise grade cryptocurrency software offering.
“We are thrilled to be working closely with such an authoritative expert. Besides his high level of professionalism and competence, Michael is a joy to work with. He’s a highly valuable asset and a tremendous source of inspiration as we continue to push the state-of-the-art in this emerging field,” said Ciphrex Co-CEO and Chief Technology Officer Eric Lombrozo.”
Marc Jacobs takes legal aim at bitcoin fueled retail website
Leveling accusations of trademark infringement and selling counterfeit goods, Marc Jacob's legal team has filed against BitcoinFashion.net, seeking damages of up to US$2 million per counterfeit item sold, and trademark misused.
“Plaintiff, Marc Jacobs Trademarks, L.L.C., a Delaware limited liability company (‘MarcJacobs’), hereby sues Defendants the Partnerships and Unincorporated Associations identified on Schedule “A” hereto and Does 1-10 (collectively ‘Defendants’). Defendants are promoting, selling, offering for sale and distributing goods bearing counterfeits and confusingly similar imitations of Marc Jacobs’s trademarks within this district through various fully interactive commercial Internet websites.”
Coinzone extends its international reach and opens in Czech Republic
Merchant payment processor Coinzone has continued its global expansion with the announcement that it has opened its operation to Czech customers. The move will allow these new users to accept bitcoin payments from around the world and convert it easily into Czeck Koruna. To celebrate the news, Coinzone is offering new merchants 3 months of free payment processing.
“The entire team has been hard at work to be the first provider to offer a dedicated Bitcoin solution that is fully supported with local banking partnerships. Similar to other launches, our entire platform has been customized to include market-specific language and payment processing localizations that enable merchants’ settlement into Czech Koruna.”
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