Bitcoin News Mash-Up: LocalBitcoins Closes in Germany; SEC Fines Bitcoin Exchange; and More

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Bitcoin News Mash-Up: LocalBicoins Closes in Germany; SEC Fines Bitcoin Exchange; and More

Following are the major Bitcoin news of the day

LocalBitcoins Not Operating in Germany
LocalBitcoins.com, the worldwide seller and buyer of Bitcoin, announced yesterday that they are closing down their operations in Germany, in the wake of “regulatory issues”. The company however shied away from criticizing the regulatory standards that was bothering their business policies in Germany. While it is not known what will happen in the future, LocalBitcoins expect service suspension to be a temporary measure.

SEC Fines Bitcoin Exchanges for Operating without License
Ethan Burnside, the controversial owner of BTC Trading Corp, recently was sacked by Securities and Exchange Commission for operating a trading business without obtaining a license. The lengthy investigation examined BTC Trading Corp’s two subsidiaries – BTC Co and Litecoin Global Exchange – and found out their involvement in executing a total of 426,986 illegal trades from 10,614 registered accounts.

Burnside agreed to pay a hefty fine of $59,308 as settlement and was further banned by court from working in the securities industry for two years.

Blockchain.INFO Official Joins ChangeTip
Dan Held, Blockchain.INFO’s former product manager, recently joined ChangeTip as its new Vice President of Product. The Bitcoin tipping platform is currently recruiting industry veterans to expand its infrastructure under fruitful guidance. In his conversation to CCN, Held said:

“Micropayments unlock an entirely new way to monetize content and users on the internet. And at ChangeTip, we will be working to bring micropayments mainstream. The ability to directly tip your favorite content creator with small amounts of monetary value is deeply impactful.”

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