Bitfinex withdraws from Washington State over license issue

Bitfinex withdraws from Washington State over license issue

Digital currency exchange Bitfinex has exited the state of Washington. Bitfinex withdraws from Washington State over license issueLast week, Bitfinex clients received a message from the exchange that it will stop offering its services to residents of the Washington State. According to reports on Reddit, the cryptocurrency exchange gave its current customers in Washington until March 1 “to withdraw their funds and transfer property off the Bitfinex site.”

In a message shared by a Bitfinex user, the digital currency company said it has no plans of securing a money transmitter license, hence the decision to withdraw its services in the state.

Over the past several months, we have been in discussions with representatives of the Washington State Department of Financial Institutions (DFI) about Bitfinex’s business and, specifically, services provided to Washington customers. DFI representatives take the view that we may not offer our platform services to Washington state residents without obtaining a state money transfer license in their state,” Bitfinex said. “At this time, we are not obtaining a money transmitter license in Washington and, accordingly, we will no longer be doing business with verified Washington customers, effective immediately.”

This is the second time in recent days that a digital currency exchange ceased to offer its services. Last week, Coinbase told its customers in Hawaii to close their accounts “within the next 30 days” as the company is exiting the state due to a new policy imposed by the Hawaii Division of Financial Institutions, which requires digital currency businesses to maintain cash reserves in an amount equal to the aggregate face value of digital currency funds held on behalf of customers.

No digital currency business—and frankly, no commercially viable business anywhere—has the capital to supplement every customer bitcoin with redundant dollar collateral,” Coinbase said.

New Bitcoin Games

With Bitcoin casinos, there are so many games to choose from. There are the classics that most gamblers are comfortable with like Bitcoin slots, of which there is a never-ending selection to choose from. There are also games like Blackjack, Roulette, Baccarat and of course many, many varieties of Poker.

With the advent of Bitcoin Games, gamblers are being introduced to a whole new perspective on gaming and gambling with cryptocurrency.

Bitcoin games are often a way of acquiring cryptocurrency. Many of the games include a faucet which drips small denominations of Bitcoin into a player’s wallet. The familiar Bitcoin versions of Blackjack, Roulette, and slots offer a good faucet drip rate at an average of every 10 minutes.

Bitcoin games have seen the introduction of games based around shows that are popular with a massive audience, for example, Bitcoin’s Wheel of Wealth is based on ‘Wheel of Fortune.’

‘The price is Right’, which is another old familiar show, has a similar Bitcoin game based on its gameplay, called ‘Falling Fortune’.

Who could live without the Lottery? Instead of weekly draws like the live show, with Bitcoin Lotteries the draw can be as often as every hour.

Gaming providers are sure to keep on coming up with more radical games that require plenty of player participation, making this industry even more entertaining and attracting new players every day.

New bitcoin casinos

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