30 Jul '14, 1am

New Zealand Bitcoin ATM Operator Shuts Down After Bank Refusals

New Zealand Bitcoin ATM Operator Shuts Down After Bank Refusals

Auckland, New Zealand-based bitcoin ATM operator Bitcoin Central says it has been forced to shut its doors, the result of local banks’ refusal to provide financial services. While bitcoin businesses around the world are going to great lengths to comply with new or potential digital currency regulation, they are also discovering another layer of difficulty: Getting banks to supply the account services vital to the existence of any mainstream business. The heading on Bitcoin Central’s homepage now reads: “We are now closed. Please read below for the why.” “It’s the banks. Unfortunately, despite complying with all the legal requirements we have been unable to secure banking facilities. Without these the Bitcoin ATM business cannot operate long term. The negativity from the banking sector to Bitcoin also threatens the ATM owner’s other businesses. For me it is prudent to shut ...

Full article: http://www.coindesk.com/new-zealand-bitcoin-atm-operator-...

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