Bitcoin News Mash-Up: Bitcoin in Britain; Global Payment Accepting Bitcoin; and More

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Bitcoin News Mash-Up

Following are the major Bitcoin events of the day

British Chancellor Provides a Roadmap to Analyze Bitcoin
British Chancellor George Osborne unveiled a new project to explore the potential role of cryptocurrencies in the UK economy. In this project, the UK’s finance ministry will perform research on digital currencies to analyze their potential risks and benefits. The findings, to be published in September, could pave the way for a new regulatory framework for Bitcoin and other altcoins. Mr. Osborne recognized digital payments for being fast, cheap and convenient. “I want to see if we can use them more for the benefit of the UK economy,” he admitted.

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Global Payments Starts Accepting Bitcoin
Global Payments, Inc. is already famous for being one of the largest payment processors in the world. The company has acquired further applause after signing an agreement with Bitcoin payment processing platform BitPay, after which the former’s customer base will be able to pay payments in Bitcoin. David Mangum, President and Chief Operating Officer of Global Payments, said:

“We focus on delivering innovative products and services to our global customer base, and this relationship provides us the ability to offer our merchants an integrated digital currency payment choice. We are pleased to partner with BitPay to provide next-generation payment solutions to our customers.”

Bitcoin Foundation Requests to Extend Comment Period on BitLicense
The Bitcoin Foundation is trying to get in touch with New York Department of Financial Service to request an extension on BitLicense commenting period. In an open letter addressed to the NYDFS Superintendent Benjamin Lawsky, Global Policy Foundation Director Jim Harper has stated:

“A truly open rulemaking would allow participation far richer than the ability to comment once or twice on draft regulations. The department could take comments and amendments, and interact with commenters, in a better organized and more interactive fashion.”

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To contact the reporter of this story: Yashu Gola at yashu@forexminute.com