Bitcoin News Mash-Up: FinCEN Reaction on Criticism; CDC Now a Nonprofit; and More

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Bitcoin News Mash-Up

Following are the major Bitcoin news of the day

FinCEN Director Clears their Stand on Bitcoin
The Financial Crimes Enforcement Network, or FinCEN, is one of the many government agencies that protects consumers and businesses from finance-related frauds. Its core ethics have thus always collided with the Bitcoin – a cryptocurrency known for its high volatility and use in illegal sectors. The organization have lately been called too strict towards this cryptocurrency. Jennifer Shasky Calvery, the FinCEN director, however rubbished such accusations. As per her words, FinCEN doesn’t want to demonize Bitcoin, but is more inclined towards protecting domestic firms and citizens. It is still committed to minimize regulator impositions for Bitcoin startups, if provided with good faith.

Chamber of Digital Commerce Recognized as Nonprofit
Chamber of Digital Commerce is indeed the key advocate of the cryptocurrency sector on US soil. The Washington-based organization, based on its work for boosting Bitcoin technology among politicians and bureaucrats, has earned itself a reputation of a nonprofit by Internal Revenue Service. The organization will now be able to enjoy the tax exemptions permitted under the IRS guidelines for nonprofits and charitable organizations. The president and the founder of CDC, Mr. Perianne Boring, said:

“To have the IRS recognize our organization is a big step for the digital currency industry because this brings an added level of credibility to our efforts in Washington. This recognition adds legitimacy to our efforts to guide policy makers in sensitively and intelligently addressing blockchain technology.”

Robocoin Launches Bitcoin Wallet
The Bitcoin ATM manufacturer Robocoin now announced the launch of a new Bitcoin wallet, made right under its wing. The company undoubtedly is expanding rapidly when it comes to offering Bitcoin-spitting machines. Its excellent remittance and global banking platform Robocoin 2.0 has also been appreciated among the cryptocurrency community. With its new Bitcoin wallet feature, Robocoin is adding more stars to its uniform. As per the available reports, the company has added a range of security features into this wallet, mainly a two-factor authentication. This Bitcoin wallet is also able to send BTC via SMS.

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

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