Stripe to End Bitcoin Support

Decision is dictated by increased commissions and time of transactions
24 January 2018   509

Stripe, digital payments solution developer, will abandon bitcoin in April this year. As a reason, Stripe called high volatility and a long time confirmation of transactions. Information about this was posted on the company's blog.

Our hope was that Bitcoin could become a universal, decentralized substrate for online transactions and help our customers enable buyers in places that had less credit card penetration or use cases where credit card fees were prohibitive.

Tom Karlo

Stripe Team

However, over the years of its existence, bitcoin from a payment instrument has turned into an asset and has become unsuitable for making transactions that require a transfer in a short time. Over time, the popularity of bitcoin among Stripe users has dropped significantly.

For a regular Bitcoin transaction, a fee of tens of U.S. dollars is common, making Bitcoin transactions about as expensive as bank wires.

Tom Karlo

Stripe Team

Stripe began to support bitcoin payments in 2014 when the rate of cryptocurrency first reached a mark of $ 1,000 and people began to take it seriously. The company insists that it remains optimistic about the future of the cryptocurrency and calls some of the most promising projects: Lightning, OmiseGO, Ethereum, Bitcoin Cash, Litecoin. In addition, in the future Stripe can add support to Stellar, in the initial phase of funding which she took part. 

Arizona to Protect Crypto Nodes Legally

According to the public records, proposed protections for cryptocurrency node operators are moving ahead in Arizona's legislature
21 February 2018   44

On February 6 House Bill 2602 was filed by Representative Jeff Weninger (R.-17). It passed the Arizona House of Representatives on February 20 with 55 out of 60 votes. Now it will be sent to the State Senate.

The bill will prevent governments in the state from imposing restrictions on people who run nodes in their residences.

The bill does not specify whether it is restricted to cryptocurrency miners. However, the bill states that individuals using computing power to either validate or encrypt a transaction on a blockchain are protected.

This is just one out several bills making their way through the Arizona legislature. Another bill by Weninger would formally define the terms "coin", "blockchain," and "initial coin offering" within the state's legal framework.

Another bill recently passed by the Arizona Senate which would empower the state government to accept taxes in bitcoin and other cryptocurrencies.