15 Jul '13, 10pm

The Internet Archive has become the unlikely savior of Bitcoin businesses whose banks have dumped them.

Brewster Kahle walks into the San Francisco offices of the Internet Archive. Photo: Ariel Zambelich/Wired Recently, Kinnard Hockenhull got a call from his bank saying that they’d decided to shut down his account. For Hockenhull, this was potentially fatal news to his business. He’d been working on getting a venture-funded Bitcoin exchange off the ground, and without a U.S. bank account, he’d have no way to pay out customers in dollars. The bank, Comerica, gave “no reason” for the closure, Hockenhull said in an email interview. “When I asked if anything was wrong, they insisted nothing was wrong.” The way he sees it, even though his company, BitBox, was in a legitimate line of business, Comerica — like other U.S. banks — seems to have developed cold feet about doing business with Bitcoin businesses lately, for fear that they will run afoul of U.S. financial regulators. Come...

Full article: http://www.wired.com/wiredenterprise/2013/07/iafcu/?cid=c...

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wired.com 15 Jul '13, 1pm

Brewster Kahle walks into the San Francisco offices of the Internet Archive. Photo: Ariel Zambelich/Wired Recently, Kinnar...

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