One of the world's largest Bitcoin processors BitPay disappointed in bitcoins

    One of the world's largest Bitcoin processors BitPay is forced to cut its business. The company has reduced about 20 positions. This happened the very next day, after the company canceled the free and unlimited processing service for bitcoin sellers.

    Company CEO Stefan Payr said that such measures are necessary to reduce costs. In addition, they will allow you to "keep up to date" and withstand the rapid growth of the industry.

    BitPay is one of the world leaders in bitcoin processing. The company was one of the first to offer the business services that allow accepting cryptocurrency as a payment. BitPay was founded four years ago. Last year, it attracted a $ 30 million investment from a group of investors, including Index Ventures . Since that time, BitPay has become one of the most expensive startups in the bitcoin industry. The company collaborates with Microsoft , PayPal and Virgin Galactic .

    In June, the company changed its business model. Now, BitPay focuses on developing tools to provide financial services such as accounting and clearing. Apparently, in this regard, information on eight full-time vacancies appeared on the company's website.

    So far, bitcoin processing is not so demanded that it develops a business only in this narrow direction.

    Nevertheless, the general director of the company told Business Insider that the number of customers is still growing. Today it exceeds 60 thousand. According to Payr, the bitcoin industry is a very promising technology, but it needs time to “mature”.

    September 1, Megamind wrotethat Barclays was the first British bank to agree to accept bitcoins. Barclays is one of the largest banks in the UK. Cryptocurrency Bitcoin is becoming more common. It is accepted as payment by some taxi companies, pizzerias, clothing stores.

    At the end of last week , the trial of the US Commodity Futures Trading Commission ( CFTC ) with the operation of the Derivabit bitcoin exchange ended. According to the decree of the Commission, bitcoin and other cryptocurrencies should be considered as a commodity, and for trade it is necessary for them to register their company accordingly, obtain licenses and track transactions.

    In the US, there has been a debate for a long time about what cryptocurrencies are - money or goods, how it is necessary to formalize transactions with them, and most importantly - to pay taxes. The CFTC, in turn, tried to figure out whether cryptocurrencies fall under its jurisdiction.

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