Bitcoin News Mash-Up: CheapAir Processed Over $1.5m in Bitcoins; NYDFS Introduces Bitcoin Licenses; and More

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Bitcoin News Mash-Up

Following are the major Bitcoin events that took place between July 17th and 18th

CheapAir Processed More Than $1.5 Million in Bitcoins
CheapAir.COM, the world’s first online travel agency to start accepting Bitcoins, has revealed figures that clearly reflected the expansion of Bitcoin economy. The company announced that it has processed more than $1.5 million in Bitcoin in exchange of its services. The great thing is that that these figures have been achieved within only nine months. [Source: GeekSided.COM]

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South African Payment Processor Starts Integrating Bitcoin
South African payment processor PayFast recently integrated Bitcoin on its platform. The project is although in its beta phase, but yet is available for merchants and marketers to try it out. They can now accept and send Bitcoin to/from local and international buyers. To make this possible, PayFast collaborated with the South Africa’s largest Bitcoin exchange BitX.

NYDFS Introduces Bitcoin Licensing for Local Businesses
The New York Department of Financial Services introduced a framework to implement the licensing of Bitcoin-based businesses and released a list of rules and regulations as well. Benjamin Lawsky, New York’s first Superintendent of Financial Services, made this news public via Twitter. His statement reads:

“We recognize that – as the first state to put forward specially tailored rules for virtual currency firms – continued public feedback will be an important part of finalizing this regulatory framework. We look forward to carefully and thoughtfully reviewing public comments on our proposal.”

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

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