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Bitcoin News Roundup – 08 Aug.2015

Recapping the week’s biggest Bitcoins stories from around the web

meXBT acquires CoinRepublic as part of its planned expansion inthe Asia-Pacific region. According to Joseph Young of Bitcoin Magazine, through the acquisition of Singapore-based CoinRepublic, the leading Mexican bitcoin exchange aims to capitalize on the established relationships with local banks and major financial institutions and expand its customer base. CoinRepublic’s great reputation in the Asia-Pacific region will enable meXBT to enter a new market at a slow pace and establish itself a leading bitcoin exchange in Singapore. meXBTFounder and CEO, Gabriel Miron, stated about the partnership,“We see this as a first step to allowing highly efficient payments cross-border between Asia and Mexico.”

Ethereum releases Frontier. According to Inside Bitcoins, Frontier, the long-awaited decentralized app network tailored for developers was launched on July 30th. The new Ethereum project is a command-line-only interface developed in a Javascript environment. Developers will be able to build, test, deploy and use decentralized applications on the Ethereum blockchain. Frontier’s goal is to create an innovative decentralized Internet ecosystem achieved globally via its blockchain.

Taxes

The Australian government recognizes the bitcoin as regular currency. As P.H Madore of CryptoCoins News reports, although the bitcoin was widely regarded as an intangible asset in Australia, now the government announces that the bitcoin and other cryptocurrencies should be considered real currencies in terms of taxation. A Senate committee focused on cryptocurrencies is expected to release the final decision in the next days. However, for many people, considering the bitcoin as an intangible asset would boost bitcoin businesses, whereas being a regular currency might have severe implications on bitcoin trading. The new tax regulations, if approved, will affect any company involved with digital assets, including the bitcoin.

Regulation

Poloniex is leaving New York due to BitLicense.As Jamie Redman of Bitcoin writes, the U.S. based cryptocurrency exchange won’t be available to New York residents as of August 8th. BitLicense is recognized by The New York State Department of Financial Services (NYDFS) following Ben Lawsky’s regulation. The new guidelines forces business dealing with the digital currency to apply for the bitcoin license within 45 days of the date of the regulation with August 8th being the deadline for compliance. Poloniex announced that “In accordance with the New York State Department of Financial Services, Poloniex will no longer be allowed to provide services to residents of the State of New York starting on August 8th, 2015.”

Payments

LOT is accepting bitcoin. As Pete Rizzo of CoinDesk writes, the Polish Airlines allow passengers to purchase their tickets via LOT’s website and pay in bitcoin for more than 60 flights to global destinations. Payments are accepted via a third-party service provider that converts bitcoins into fiat currency. LOT has added the bitcoin option in the already existing form of payment, American Express, PayPal, MasterCard and Visa.

Bandago is now accepting bitcoin. As Nuno Menezes of NewsBtc reports, the leader in passenger van rental announced that it will include the digital currency as a formal payment method with the aim to provide its customers with a great range of options in regards to their reservation. Since 2003, Bandago has been unfailingly providing high quality, sophisticated van rental services to touring bands, solo musicians, TV celebrities and film producers. With the acceptance of the bitcoin, the company will provide its customers around the world with the freedom to transfer money instantly and seamlessly for accommodating their travel plans.

Overstock.com finalizes crybtobond deal. According to Katherine Fletcher of CoinReport, the leading online retailer has sold a $5 million digital security First New York Managed Accounts LLCin the form of a cryptobond. The sale aims to serve as an additional proof regarding the safety of exchanging financial instruments through a cryptocurrency ledger. CEP Patrick Byrne states “We welcome First New York, salute the vision of the company’s leadership, and anticipate that this could be the start of a beautiful relationship between our firms.”

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