“Western Union raised compliance-related cost guidance from 3.5 percent to 4.5 percent in 2013, up from 2.5 percent last year. Contrasted with bitcoin exchanges like Mt. Gox, Bitstamp, and Coinbase, who currently pay zero, Western Union is finding it harder and harder to compete. The bitcoin exchange’s status as a tax-free, regulatory-exempt money transfer apparatus might not last long in the States – that is, if regulators have their way. On Oct. 1 the New York Department of Financial Services subpoenaed several bitcoin startups, stating that ‘regulations need to be in place,’ and if regulation killed bitcoin’s viability as a liquid value transfer vehicle, ‘so be it.'”
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Tip Freedomwat.ch Staff with Bitcoin
Tip Freedomwat.ch Staff with Bitcoin
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