Bitcoin Platinum: Scam created by a Korean student

The anticipated Bitcoin hard fork Bitcoin Platinum turned out to be a Scam created by a South Korean teenager in order to manipulate Bitcoin prices
11 December 2017   2210

Bitcoin Platinum under the codename BTCPLT was planned to be a fork of the Bitcoin blockchain that should have occurred at block height 498,533 on December 12 of 2017. 

JoongAng, a South Korean daily newspaper published in Seoul and the most popular South Korean mainstream media resource, reported that Bitcoin Platinum case was investigated and it turned out to be a scam developed by a teenager from South Korea.

At the moment of press, these are main market parameters of Bitcoin:

  • Average price: $16 620.20 
  • Marketcap: $278 124 088 820
  • 24h volume: $13 156 000 000

BitPay to Receive New York's BitLicense

Having received BitLicense, BitPay can now conduct business with New York-based companies and consumers
17 July 2018   108

The well-known cryptocurrency processing service BitPay obtained a license to work with virtual currencies in the state of New York. Known also as BitLicense, this license is issued by the New York Department of Financial Services (NYDFS) and grants its holders the ability to conduct activities related to cryptocurrencies in the state.

NYDFS has carefully studied the company's application, including its policy on measures to combat money laundering, customer identification, fraud prevention, cybersecurity. The financial situation of the company was also thoroughly analyzed.

New York state has one of the strictest policies around businesses involved in cryptocurrency and working through the approval processes to obtain a License was important to BitPay. We believe this hard work will pay off as New York presents significant business opportunities for BitPay.
 

Stephen Pair

CEO, BitPay

Having received BitLicense, BitPay can now conduct business with New York-based companies and consumers: the first will be able to use the company's processing services to accept payments in Bitcoin and Bitcoin Cash, the latter will pay for various goods and services using these two BitPay supported cryptos.

Note that BitPay was only the eighth company that received BitLicense. Other license holders are Square, Xapo, Genesis Global Trading, bitFlyer USA, Coinbase, Ripple and Circle. In addition, special permissions for operations with crypto-currencies are exchanged by Gemini and itBit.