<hr/><h4>Bitcoin Futures’ Future: Slow, Measured, No Mom and Pop Investors</h4><div>
<img width="696" height="696" src="https://news.bitcoin.com/wp-content/uploads/2018/02/71439_GRANDPA_TURTLE8x8-768x768.jpg" class="attachment-medium_large size-medium_large wp-post-image" alt="Bitcoin Futures’ Future: Slow, Measured, No Mom and Pop Investors" srcset="https://news.bitcoin.com/wp-content/uploads/2018/02/71439_GRANDPA_TURTLE8x8-768x768.jpg 768w, https://news.bitcoin.com/wp-content/uploads/2018/02/71439_GRANDPA_TURTLE8x8-150x150.jpg 150w, https://news.bitcoin.com/wp-content/uploads/2018/02/71439_GRANDPA_TURTLE8x8-300x300.jpg 300w, https://news.bitcoin.com/wp-content/uploads/2018/02/71439_GRANDPA_TURTLE8x8-1024x1024.jpg 1024w, https://news.bitcoin.com/wp-content/uploads/2018/02/71439_GRANDPA_TURTLE8x8-696x696.jpg 696w, https://news.bitcoin.com/wp-content/uploads/2018/02/71439_GRANDPA_TURTLE8x8-1392x1392.jpg 1392w, https://news.bitcoin.com/wp-content/uploads/2018/02/71439_GRANDPA_TURTLE8x8-1068x1068.jpg 1068w, https://news.bitcoin.com/wp-content/uploads/2018/02/71439_GRANDPA_TURTLE8x8-420x420.jpg 420w, https://news.bitcoin.com/wp-content/uploads/2018/02/71439_GRANDPA_TURTLE8x8.jpg 1600w" sizes="(max-width: 696px) 100vw, 696px"><p><b>Chicago Mercantile Exchange (CME) Chairman and CEO Terry Duffy explained in a recent interview how the decision to list bitcoin futures in the last quarter of 2017 wasn’t made as a result of light or transient causes. Instead, it was a deliberate effort to bring a proven technology to well-financed clients who will help it mature.</b></p>
<p><span><strong><em>Also read:</em></strong> <a href="https://news.bitcoin.com/market-risk-advisory-committee-bitcoin-futures-self-certification-works/" target="_blank" rel="noopener">Market Risk Advisory Committee: Bitcoin Futures Self-Certification Works</a></span></p>
<h2><span>CME’s Chairman and CEO on Bitcoin Futures</span></h2>
<p><span>Scarlet Fu put it bluntly. Did the long practice of self-certification within the commodities exchange industry force out or exclude important players such as Goldman Sachs, for example, who were then saddled with bitcoin futures they clearly didn’t want, poisoning the well? Mr. Duffy, CME Chairman, answered immediately, “No.”</span></p>
<p><span>“I don’t think it does,” he continued, “because we spent a lot of time working with all our clients, talking to them about all our products, educating them about what we’re thinking. At the same time, there is a competitive issue out there that you want to be cautious of. The self-certification process is a big part of why [bitcoin] was put into place [so quickly].”</span></p>
<figure class="wp-caption aligncenter"><img class="wp-image-108068" src="https://news.bitcoin.com/wp-content/uploads/2018/02/Terry_Duffy_CME_Group-1024x839.jpg" alt="Bitcoin Futures’ Future: Slow, Measured, No Mom and Pop Investors" width="496" height="406" srcset="https://news.bitcoin.com/wp-content/uploads/2018/02/Terry_Duffy_CME_Group-1024x839.jpg 1024w, https://news.bitcoin.com/wp-content/uploads/2018/02/Terry_Duffy_CME_Group-300x246.jpg 300w, https://news.bitcoin.com/wp-content/uploads/2018/02/Terry_Duffy_CME_Group-768x629.jpg 768w, https://news.bitcoin.com/wp-content/uploads/2018/02/Terry_Duffy_CME_Group-696x570.jpg 696w, https://news.bitcoin.com/wp-content/uploads/2018/02/Terry_Duffy_CME_Group-1068x875.jpg 1068w, https://news.bitcoin.com/wp-content/uploads/2018/02/Terry_Duffy_CME_Group-513x420.jpg 513w, https://news.bitcoin.com/wp-content/uploads/2018/02/Terry_Duffy_CME_Group.jpg 1200w" sizes="(max-width: 496px) 100vw, 496px"><figcaption class="wp-caption-text">Terry Duffy</figcaption></figure><p><span>Questions of industry self-certification have popped up in frequency tandem to bitcoin’s giant price drop in recent weeks. It even became the central focus of the regulator’s first <a href="https://news.bitcoin.com/market-risk-advisory-committee-bitcoin-futures-self-certification-works/" target="_blank" rel="noopener">meeting of the year</a>, as both CME and its crosstown rival, Chicago Board Options Exchange (Cboe), were asked to defend the tradition in direct contrast with standard stocks and their grueling gatekeeper, the Securities and Exchange Commission (SEC). </span></p>
<p><span>Mr. Duffy expanded his answer to Ms. Fu of <em>Bloomberg</em>, stating “[Our bitcoin futures product] didn’t have to go through a six month review (everybody could look at your intellectual property and do a copycat, lookalike product). We don’t have the same model as the Securities model. Ours is completely different. I think that the self-certification process works. We worked closely with our regulator. We worked more closely with them on this product because of the unique nature of this product.” </span></p>
<p><img class="aligncenter wp-image-108073" src="https://news.bitcoin.com/wp-content/uploads/2018/02/Air_operated_slow_arm_3-1024x1024.jpg" alt="Bitcoin Futures’ Future: Slow, Measured, No Mom and Pop Investors" width="396" height="396" srcset="https://news.bitcoin.com/wp-content/uploads/2018/02/Air_operated_slow_arm_3-1024x1024.jpg 1024w, https://news.bitcoin.com/wp-content/uploads/2018/02/Air_operated_slow_arm_3-150x150.jpg 150w, https://news.bitcoin.com/wp-content/uploads/2018/02/Air_operated_slow_arm_3-300x300.jpg 300w, https://news.bitcoin.com/wp-content/uploads/2018/02/Air_operated_slow_arm_3-768x768.jpg 768w, https://news.bitcoin.com/wp-content/uploads/2018/02/Air_operated_slow_arm_3-696x696.jpg 696w, https://news.bitcoin.com/wp-content/uploads/2018/02/Air_operated_slow_arm_3-1392x1392.jpg 1392w, https://news.bitcoin.com/wp-content/uploads/2018/02/Air_operated_slow_arm_3-1068x1068.jpg 1068w, https://news.bitcoin.com/wp-content/uploads/2018/02/Air_operated_slow_arm_3-420x420.jpg 420w, https://news.bitcoin.com/wp-content/uploads/2018/02/Air_operated_slow_arm_3.jpg 1600w" sizes="(max-width: 396px) 100vw, 396px"></p>
<h2>Bitcoin is a Proven Commodity</h2>
<p><span>Cboe was the first to list bitcoin futures, but CME’s week-later entrance into the ecosystem was largely seen as validation for the decentralized currency’s legitimacy and resiliency. CME is about as mainstream as finance can get. It owns several exchanges, and among its holdings is the Dow Jones index. </span></p>
<p><span>Remaining on the self-certification issue, Mr. Duffy defends the decision to list bitcoin. “At the same time, and I said this on my earnings call this morning, this product has been around for nine years. It’s not like it just showed up yesterday. Volatility [in traditional markets] has been low the last couple of years. What has not been low in volatility? It’s been bitcoin. People are clamoring for some kind of [volatility]. All the sudden this product becomes very much front page news. We’ve all been talking about bitcoin, and there’s been a lot of conversation about,” he explained. That conversation often turned to volatility and risk, and CME is not in the business of introducing more risk but, instead, managing it.</span></p>
<p><img class="aligncenter wp-image-108078" src="https://news.bitcoin.com/wp-content/uploads/2018/02/CME-BTC.width-800.jpg" alt="Bitcoin Futures’ Future: Slow, Measured, No Mom and Pop Investors" width="400" height="224" srcset="https://news.bitcoin.com/wp-content/uploads/2018/02/CME-BTC.width-800.jpg 800w, https://news.bitcoin.com/wp-content/uploads/2018/02/CME-BTC.width-800-300x168.jpg 300w, https://news.bitcoin.com/wp-content/uploads/2018/02/CME-BTC.width-800-768x430.jpg 768w, https://news.bitcoin.com/wp-content/uploads/2018/02/CME-BTC.width-800-696x390.jpg 696w, https://news.bitcoin.com/wp-content/uploads/2018/02/CME-BTC.width-800-750x420.jpg 750w" sizes="(max-width: 400px) 100vw, 400px"></p>
<p><span>“We list [bitcoin futures], and we list it with a whole new group of standards. I said today on my shareholder earnings call I would not reduce any of those standards in order to make money on this product. I think it’s important we take a very slow approach to this, and make sure the product is rolled out properly.”</span></p>
<p><span>Ms. Fu asks indignantly, “So that high initial margin of 43% … under no circumstances would you lower that?” By way of perspective, commodity margins are usually single digits. Mr. Duffy’s answer is somewhat surprising, as it seems he really believes in bitcoin futures for the long term.</span></p>
<p><img class="aligncenter wp-image-108077 size-full" src="https://news.bitcoin.com/wp-content/uploads/2018/02/6b1a1e0ff3a1728cf59da90066688e49_400x400.jpeg" alt="" width="400" height="400" srcset="https://news.bitcoin.com/wp-content/uploads/2018/02/6b1a1e0ff3a1728cf59da90066688e49_400x400.jpeg 400w, https://news.bitcoin.com/wp-content/uploads/2018/02/6b1a1e0ff3a1728cf59da90066688e49_400x400-150x150.jpeg 150w, https://news.bitcoin.com/wp-content/uploads/2018/02/6b1a1e0ff3a1728cf59da90066688e49_400x400-300x300.jpeg 300w" sizes="(max-width: 400px) 100vw, 400px"></p>
<h2>Protecting Ma and Pa</h2>
<p><span>“That’s not what I said,” the Chairman and CEO corrected. “I would not do that in lieu of trying to get volume on it. I think the product needs times to mature. I think we’ve got to get more people involved in it, more commercials involved in this product. One of the reasons we have a five bitcoin per contract, versus our competitors having a one bitcoin contract, is I wanted to make sure I did not attract what is referred to in the business as the ‘moms and the pops’ trading it. I wanted to make sure people had a really good idea about what they’re getting into. I don’t want to attract a craze of people attracting to a marketplace when they’re not quite sure what they’re doing,” he <a href="https://www.bloomberg.com/news/articles/2018-02-01/cme-takes-cautious-stance-toward-crypto-futures-besides-bitcoin" target="_blank" rel="noopener">cautioned</a>. CME’s Chairman defended the high margin rates while the sot price tanked, stating</span></p>
<blockquote class="td_quote_box td_box_center"><p><span>“Now, you look at the price of bitcoin. When we listed it, it was at $19,500 day one CME listed it. Today, it’s around $9,000 a bitcoin. We have a 43% margin, as you referenced a moment ago; we have had an over 50% decrease in that product. We are still holding 43% initial margin on that product today. It goes to show you the risk management processes we have in place for all of our asset classes but especially something like this when people were concerned about a quick break or a quick rally.”</span></p></blockquote>
<p><span>Ms. Fu also asked about the prospect of listing other cryptos. Mr. Duffy pained a little at the question, </span><span>“I’ll be honest with you Scarlet, we have not made a decision if we’re going to pursue other cryptocurrencies or not. I was very clear with the management of my company, and my board and my shareholders: this is new, this is controversial, but at the same time, if you look at the evolution of finance, everything was new, everything was controversial. We’re taking a very measured approach towards cryptocurrencies, and I will tell you right now we have no plans in the immediate future to bring out new cryptos right now,” he remarked candidly.</span></p>
<p><span><em><strong>What do you think of Mr. Duffy’s comments? Let us know in the comments section below.</strong></em><br></span></p>
<hr>
<p><em>Images courtesy of Pixabay, CME.</em></p>
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<p>The post <a rel="nofollow" href="https://news.bitcoin.com/bitcoin-futures-future-slow-measured-no-mom-and-pop-investors/">Bitcoin Futures’ Future: Slow, Measured, No Mom and Pop Investors</a> appeared first on <a rel="nofollow" href="https://news.bitcoin.com/">Bitcoin News</a>.</p>
</div><br/><div>Source: https://news.bitcoin.com/bitcoin-futures-future-slow-measured-no-mom-and-pop-investors/</div><br/><hr/><h4>International Market Maintains Demand for Chinese Cryptocurrency Mining Hardware</h4><div>
<img width="696" height="696" src="https://news.bitcoin.com/wp-content/uploads/2018/02/shutterstock_777329500-768x768.jpg" class="attachment-medium_large size-medium_large wp-post-image" alt="International Market Maintains Demand for Chinese Mining Hardware" srcset="https://news.bitcoin.com/wp-content/uploads/2018/02/shutterstock_777329500-768x768.jpg 768w, https://news.bitcoin.com/wp-content/uploads/2018/02/shutterstock_777329500-150x150.jpg 150w, https://news.bitcoin.com/wp-content/uploads/2018/02/shutterstock_777329500-300x300.jpg 300w, https://news.bitcoin.com/wp-content/uploads/2018/02/shutterstock_777329500-1024x1024.jpg 1024w, https://news.bitcoin.com/wp-content/uploads/2018/02/shutterstock_777329500-696x696.jpg 696w, https://news.bitcoin.com/wp-content/uploads/2018/02/shutterstock_777329500-1392x1392.jpg 1392w, https://news.bitcoin.com/wp-content/uploads/2018/02/shutterstock_777329500-1068x1068.jpg 1068w, https://news.bitcoin.com/wp-content/uploads/2018/02/shutterstock_777329500-420x420.jpg 420w, https://news.bitcoin.com/wp-content/uploads/2018/02/shutterstock_777329500.jpg 1600w" sizes="(max-width: 696px) 100vw, 696px"><p><strong>The future for manufacturers of bitcoin mining hardware in China appears bright despite reports that the Chinese central government will seek to rein in the power consumption of mining companies operating within its borders. Hong Kong-based media outlet, South China Morning Post, has reported that there is considerable international demand for Chinese mining hardware internationally – with Russian buyers representing a significant share of the industry’s demand.</strong></p>
<p><em><strong>Also Read:</strong> <a href="https://news.bitcoin.com/large-european-power-company-will-not-sell-electricity-to-crypto-miners/" target="_blank" rel="noopener">Large European Power Company Will Not Sell Electricity to Crypto-Miners</a></em></p>
<h2>Russian Buyers Provide Demand for Chinese Mining Equipment</h2>
<p><img class="alignright size-medium wp-image-108271" src="https://news.bitcoin.com/wp-content/uploads/2018/02/shutterstock_792752485-300x200.jpg" alt="International Market Maintains Demand for Chinese Mining Hardware" width="300" height="200" srcset="https://news.bitcoin.com/wp-content/uploads/2018/02/shutterstock_792752485-300x200.jpg 300w, https://news.bitcoin.com/wp-content/uploads/2018/02/shutterstock_792752485-768x511.jpg 768w, https://news.bitcoin.com/wp-content/uploads/2018/02/shutterstock_792752485-696x464.jpg 696w, https://news.bitcoin.com/wp-content/uploads/2018/02/shutterstock_792752485-631x420.jpg 631w, https://news.bitcoin.com/wp-content/uploads/2018/02/shutterstock_792752485.jpg 1000w" sizes="(max-width: 300px) 100vw, 300px">South China Morning Post spent time with <a href="http://www.scmp.com/news/china/economy/article/2131838/chinese-bitcoin-mining-machine-sellers-immune-cryptocurrency" target="_blank" rel="noopener">Alex</a>, a 38-year-old Russian businessman visiting China to establish connections with bitcoin mining hardware retailers. The report states that Alex spent three days exploring central Shenzhen, where he compared the products offered by 30 different retailers. Alex claims to have had two or three trips to China over the last 15 years to purchase toys that he resells in Russia, however, this is the first trip that he has undertaken in order to purchase mining hardware.</p>
<p>Alex states that when he first entered the bitcoin mining industry he purchased 200 units in Moscow, for which he paid a 20% premium when compared to the Chinese market. He states that there is far more to consider than just the prices of the hardware he inspects, emphasizing that “It’s about how to choose a true retailer [that I trust].”</p>
<p>For Alex, Shenzhen, in particular, offers too many potential retailers to easily choose from.</p>
<h2>Mining Hardware Vendors Plentiful in Shenzen</h2>
<p><img class="alignright size-medium wp-image-108276" src="https://news.bitcoin.com/wp-content/uploads/2018/02/shutterstock_470145005-300x200.jpg" alt="International Market Maintains Demand for Chinese Mining Hardware" width="300" height="200" srcset="https://news.bitcoin.com/wp-content/uploads/2018/02/shutterstock_470145005-300x200.jpg 300w, https://news.bitcoin.com/wp-content/uploads/2018/02/shutterstock_470145005-768x512.jpg 768w, https://news.bitcoin.com/wp-content/uploads/2018/02/shutterstock_470145005-696x464.jpg 696w, https://news.bitcoin.com/wp-content/uploads/2018/02/shutterstock_470145005-630x420.jpg 630w, https://news.bitcoin.com/wp-content/uploads/2018/02/shutterstock_470145005.jpg 1000w" sizes="(max-width: 300px) 100vw, 300px">South China Morning Post recounted exploring the SEG Plaza in Huaqiangbei, Shenzen – a major manufacturing hub that has comprised a Special Economic Zone since the 1980’s.</p>
<p>The report states that the plaza houses “vendors of mining machines scattered between the fourth and sixth floors in spaces originally occupied by sellers of computer components,” noting that “One mining shop had a Russian translation at the bottom of its ad.”</p>
<p>Whilst South China Morning Post article states that “Russians dominate the list of foreign customers,” it is also reported that “Indians and other Europeans” comprise a significant share of the market demand for Chinese mining hardware.</p>
<p><em><strong>Do you think that China will maintain its dominance over the mining hardware manufacturing market? Share your thoughts in the comments section below!</strong></em></p>
<hr>
<p><em>Images courtesy of Shutterstock</em></p>
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<p>The post <a rel="nofollow" href="https://news.bitcoin.com/international-market-maintains-demand-for-chinese-cryptocurrency-mining-hardware/">International Market Maintains Demand for Chinese Cryptocurrency Mining Hardware</a> appeared first on <a rel="nofollow" href="https://news.bitcoin.com/">Bitcoin News</a>.</p>
</div><br/><div>Source: https://news.bitcoin.com/international-market-maintains-demand-for-chinese-cryptocurrency-mining-hardware/</div><br/><hr/><h4>Ukrainian Law May Separate Mining from Cryptocurrencies</h4><div>
<img width="696" height="696" src="https://news.bitcoin.com/wp-content/uploads/2018/02/shutterstock_790612366_1600-768x768.jpg" class="attachment-medium_large size-medium_large wp-post-image" alt="Ukrainian Law May Separate Mining from Cryptocurrencies" srcset="https://news.bitcoin.com/wp-content/uploads/2018/02/shutterstock_790612366_1600-768x768.jpg 768w, https://news.bitcoin.com/wp-content/uploads/2018/02/shutterstock_790612366_1600-150x150.jpg 150w, https://news.bitcoin.com/wp-content/uploads/2018/02/shutterstock_790612366_1600-300x300.jpg 300w, https://news.bitcoin.com/wp-content/uploads/2018/02/shutterstock_790612366_1600-1024x1024.jpg 1024w, https://news.bitcoin.com/wp-content/uploads/2018/02/shutterstock_790612366_1600-696x696.jpg 696w, https://news.bitcoin.com/wp-content/uploads/2018/02/shutterstock_790612366_1600-1392x1392.jpg 1392w, https://news.bitcoin.com/wp-content/uploads/2018/02/shutterstock_790612366_1600-1068x1068.jpg 1068w, https://news.bitcoin.com/wp-content/uploads/2018/02/shutterstock_790612366_1600-420x420.jpg 420w, https://news.bitcoin.com/wp-content/uploads/2018/02/shutterstock_790612366_1600.jpg 1600w" sizes="(max-width: 696px) 100vw, 696px"><p><strong>Ukrainian legislators should separate the regulation of crypto mining from the legal status of cryptocurrencies. The new approach was proposed by the chairman of an important parliamentary committee who criticized law enforcement agencies for cracking down on crypto miners. Police confiscated mining equipment in a series of raids this week. Authorities claim that coins have been used to finance pro-Russian separatists.</strong></p>
<p><strong><em>Also read:</em></strong> <a href="https://news.bitcoin.com/another-post-soviet-jurisdiction-welcomes-crypto-miners/" target="_blank" rel="noopener"><strong><em>Another Post-Soviet Jurisdiction Welcomes Crypto Miners</em></strong></a></p>
<h2>Just Calculation…</h2>
<p>Ukrainian deputy Olexandr Danchenko, head of the Committee for Informatization and Communications in the Rada, suggested that cryptocurrencies and crypto mining should be regulated separately. He condemned Ukraine’s security services for pressuring miners. “Mining is just calculation”, the MP said during a meeting with digital market experts, business executives and government officials in Kiev.</p>
<p><img class="aligncenter wp-image-108011 size-full" src="https://news.bitcoin.com/wp-content/uploads/2018/02/shutterstock_705855499_1000.jpg" alt="Ukrainian Law May Separate Mining from Cryptocurrencies" width="1000" height="394" srcset="https://news.bitcoin.com/wp-content/uploads/2018/02/shutterstock_705855499_1000.jpg 1000w, https://news.bitcoin.com/wp-content/uploads/2018/02/shutterstock_705855499_1000-300x118.jpg 300w, https://news.bitcoin.com/wp-content/uploads/2018/02/shutterstock_705855499_1000-768x303.jpg 768w, https://news.bitcoin.com/wp-content/uploads/2018/02/shutterstock_705855499_1000-696x274.jpg 696w" sizes="(max-width: 1000px) 100vw, 1000px"></p>
<p>“Ukraine’s share of the global cryptocurrency mining market has shrunk to just 3%”, Danchenko noted, quoted by <em>Interfax-Ukraine</em>. “Separate mining from cryptocurrencies”, he appealed during the consultations. Ukraine’s Deputy Prime Minister and Minister of Economic Development Stepan Kubiv agreed that the issue could be resolved by drafting a relevant bill.</p>
<p>Olexandr Danchenko warned that many Ukrainian miners are leaving the country because of the crackdown by authorities. “Canada is creating optimal conditions for mining and our guys invest their money there”, he said.</p>
<h2>Under Pressure</h2>
<p>Raids on several mining facilities in Kiev, Kiev Oblast (the adjacent region) and Cherkasy Oblast were conducted on Thursday. 400 mining rigs have been confiscated during a search in the <a href="https://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapId=113638267" target="_blank" rel="noopener">PJSC Kvazar</a> plant in the capital. Police have seized more than a thousand graphics cards, 1,500 hard disks, 500 motherboards and several laptops.</p>
<p>According to Ukrainian authorities, proceeds from the mining operations have been used to finance separatist activities in the Eastern Ukrainian regions of Donetsk and Lugansk, <em>Unian</em> reported. Documents with Russian bank details found during the raids proved financial transfers to the territories controlled by the pro-Russian forces. Funds were stored in Qiwi and Yandex wallets.</p>
<p><img class="aligncenter wp-image-108016 size-full" src="https://news.bitcoin.com/wp-content/uploads/2018/02/shutterstock_741661276_1000.jpg" alt="Ukrainian Law May Separate Mining from Cryptocurrencies" width="1000" height="506" srcset="https://news.bitcoin.com/wp-content/uploads/2018/02/shutterstock_741661276_1000.jpg 1000w, https://news.bitcoin.com/wp-content/uploads/2018/02/shutterstock_741661276_1000-300x152.jpg 300w, https://news.bitcoin.com/wp-content/uploads/2018/02/shutterstock_741661276_1000-768x389.jpg 768w, https://news.bitcoin.com/wp-content/uploads/2018/02/shutterstock_741661276_1000-696x352.jpg 696w, https://news.bitcoin.com/wp-content/uploads/2018/02/shutterstock_741661276_1000-830x420.jpg 830w" sizes="(max-width: 1000px) 100vw, 1000px"></p>
<p>“Currency that is officially banned in Ukraine has been used to buy military equipment, weapons and ammunition for the illegal armed groups in LPR and DPR”, Ukraine’s Deputy Prosecutor General Anatoliy Matios said during a briefing in Kiev. Investigators have identified individuals involved in the mining operations. It is not clear why they have set up their farms in Ukraine, when the restive regions border Russia and transferring funds or equipment for the separatists would have been much easier from Russian territory.</p>
<h2>Separate Tracks</h2>
<p>If Ukraine decides to address mining separately, some crypto regulations may be adopted sooner than expected. Similar suggestions have been made in Russia, where legalizing cryptocurrencies has <a href="https://news.bitcoin.com/longest-serving-finance-minister-of-russia-backs-crypto-self-regulation/" target="_blank" rel="noopener">divided institutions</a> but most officials agree that crypto mining can be legalized and regulated. Even Russia’s Central Bank, that has opposed the legalization of cryptocurrencies like bitcoin, recently announced it would <a href="https://news.bitcoin.com/bank-of-russia-allows-crypto-mining-proposes-miners-sell-their-coins-overseas/" target="_blank" rel="noopener">allow crypto mining</a>.</p>
<p>Two bills to regulate cryptocurrencies and mining have been <a href="https://news.bitcoin.com/bitcoin-and-mining-dominate-google-searches-as-ukraine-closes-in-on-legalisation/" target="_blank" rel="noopener">advancing</a> through commissions in the <a href="http://iportal.rada.gov.ua/en" target="_blank" rel="noopener">Rada</a> since October last year. However, no significant progress has been reported in 2018. The new legislation may introduce incentives for miners, including lower electricity rates.</p>
<p>Danchenko’s warning about the exodus of miners from Ukraine comes at a time when <a href="https://news.bitcoin.com/another-post-soviet-jurisdiction-welcomes-crypto-miners/" target="_blank" rel="noopener">other authorities</a> in the post-Soviet space are trying hard to attract miners. <a href="https://news.bitcoin.com/cryptocurrencies-activities-legal-tax-free-belarus-starting-march/" target="_blank" rel="noopener">Belarus</a> will soon complete the process of legalizing the entire crypto sector with tax exemptions for mining companies. Countries like <a href="https://bits.media/news/uzbekistan-voshel-v-top-3-stran-mira-po-vygodnosti-mayninga-bitkoina/" target="_blank" rel="noopener">Uzbekistan</a> offer cheap electricity and other incentives.</p>
<p><strong><em>Do you think that regulating crypto mining can be a first step towards legalizing cryptocurrencies? Tell us in the comments section below.</em></strong></p>
<hr>
<p><em>Images courtesy of Shutterstock. </em></p>
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<p>The post <a rel="nofollow" href="https://news.bitcoin.com/ukrainian-law-may-separate-mining-from-cryptocurrencies/">Ukrainian Law May Separate Mining from Cryptocurrencies</a> appeared first on <a rel="nofollow" href="https://news.bitcoin.com/">Bitcoin News</a>.</p>
</div><br/><div>Source: https://news.bitcoin.com/ukrainian-law-may-separate-mining-from-cryptocurrencies/</div><br/><hr/><h4>A Look At Service Providers and Tools Supporting the New BCH Cashaddr Format</h4><div>
<img width="696" height="696" src="https://news.bitcoin.com/wp-content/uploads/2018/02/Cashaddr-768x768.jpg" class="attachment-medium_large size-medium_large wp-post-image" alt="A Look At Service Providers and Tools Supporting the New BCH Cashaddr Format" srcset="https://news.bitcoin.com/wp-content/uploads/2018/02/Cashaddr-768x768.jpg 768w, https://news.bitcoin.com/wp-content/uploads/2018/02/Cashaddr-150x150.jpg 150w, https://news.bitcoin.com/wp-content/uploads/2018/02/Cashaddr-300x300.jpg 300w, https://news.bitcoin.com/wp-content/uploads/2018/02/Cashaddr-1024x1024.jpg 1024w, https://news.bitcoin.com/wp-content/uploads/2018/02/Cashaddr-696x696.jpg 696w, https://news.bitcoin.com/wp-content/uploads/2018/02/Cashaddr-1392x1392.jpg 1392w, https://news.bitcoin.com/wp-content/uploads/2018/02/Cashaddr-1068x1068.jpg 1068w, https://news.bitcoin.com/wp-content/uploads/2018/02/Cashaddr-420x420.jpg 420w, https://news.bitcoin.com/wp-content/uploads/2018/02/Cashaddr.jpg 1600w" sizes="(max-width: 696px) 100vw, 696px"><p><b>This past January the Bitcoin Cash (BCH) developers and community began implementing a new address format called ‘Cashaddr.’ The new protocol serialization makes BCH addresses distinct from other cryptocurrency formats in order to reduce user error, and the change also bolsters some future network functionalities as well. Over the past two weeks, many BCH supporting businesses and service providers have upgraded to the new format.</b></p>
<p><em><strong>Also read:</strong> <a href="https://news.bitcoin.com/crowdfire-founders-plan-to-launch-indian-bitcoin-exchange/" target="_blank" rel="noopener">Crowdfire Founders Plan to Launch Indian Bitcoin Exchange</a></em></p>
<h2><span>Lots of BCH Infrastructure Providers Implement the New Cashaddr Address Format</span></h2>
<p><span>Just recently the <a href="https://www.bitcoincash.org/" target="_blank" rel="noopener">bitcoin cash</a> development team and the community changed the cryptocurrency’s address format to a </span><a href="https://www.bitcoinabc.org/cashaddr" target="_blank" rel="noopener"><span>new version</span></a><span>. The integration makes it much harder for users to send BCH to a bitcoin core (BTC) address or vice versa. Basically addresses look different and some contain the prefix “bitcoincash:” when displayed. </span></p>
<p><img class="aligncenter wp-image-108433 size-full" title="A Look At Service Providers and Tools Supporting the New BCH Cashaddr Format" src="https://news.bitcoin.com/wp-content/uploads/2018/02/BCHaddy.jpg" alt="A Look At Service Providers and Tools Supporting the New BCH Cashaddr Format" width="830" height="300" srcset="https://news.bitcoin.com/wp-content/uploads/2018/02/BCHaddy.jpg 830w, https://news.bitcoin.com/wp-content/uploads/2018/02/BCHaddy-300x108.jpg 300w, https://news.bitcoin.com/wp-content/uploads/2018/02/BCHaddy-768x278.jpg 768w, https://news.bitcoin.com/wp-content/uploads/2018/02/BCHaddy-696x252.jpg 696w" sizes="(max-width: 830px) 100vw, 830px"></p>
<p><span>Every Cashaddr address is also tethered to a “legacy address”, and the change doesn’t affect the users private and public keys. So far lots of bitcoin cash supporting exchanges and wallet providers have upgraded to the new format over the past two weeks.</span></p>
<h2><span>Services That Support Cashaddr </span></h2>
<p><span>Currently, the service providers and wallets who have integrated the Cashaddr format include Blockchain Wallet, Coinbase, Electron Cash, Bitcoin.com, </span><span>Explorer.bitcoin.com,</span><span> Bitpay, Copay, Coinomi, Hitbtc, Chaintip, Stash Wallet, BTC.com Wallet, </span><span>Bitcoin ABC, Bitcoin Unlimited, Blockchair, and Blockdozer. Other wallets like the iOS client </span><a href="https://twitter.com/itsmaemon/status/953027393052184582" target="_blank" rel="noopener"><span>Unit</span></a><span> have detailed that their development teams plan to implement the address change in the near future. Some companies like Shapeshift are expected to integrate Cashaddr, but the firm has made no statements of this intention. Shapeshift’s hardware wallet business Keepkey has </span><a href="https://twitter.com/bitcoinkeepkey/status/953627474423934976" target="_blank" rel="noopener"><span>stated</span></a><span> Cashaddr functionality will be provided in the future.</span></p>
<figure class="wp-caption aligncenter"><img class="wp-image-108443 size-full" title="A Look At Service Providers and Tools Supporting the New BCH Cashaddr Format" src="https://news.bitcoin.com/wp-content/uploads/2018/02/Wallets.jpg" alt="A Look At Service Providers and Tools Supporting the New BCH Cashaddr Format" width="2100" height="700" srcset="https://news.bitcoin.com/wp-content/uploads/2018/02/Wallets.jpg 2100w, https://news.bitcoin.com/wp-content/uploads/2018/02/Wallets-300x100.jpg 300w, https://news.bitcoin.com/wp-content/uploads/2018/02/Wallets-768x256.jpg 768w, https://news.bitcoin.com/wp-content/uploads/2018/02/Wallets-1024x341.jpg 1024w, https://news.bitcoin.com/wp-content/uploads/2018/02/Wallets-696x232.jpg 696w, https://news.bitcoin.com/wp-content/uploads/2018/02/Wallets-1392x464.jpg 1392w, https://news.bitcoin.com/wp-content/uploads/2018/02/Wallets-1068x356.jpg 1068w, https://news.bitcoin.com/wp-content/uploads/2018/02/Wallets-1260x420.jpg 1260w" sizes="(max-width: 2100px) 100vw, 2100px"><figcaption class="wp-caption-text"><strong>A few wallets that support the new Cashaddr address format. </strong></figcaption></figure><h2><span>Cashaddr and Legacy Format Compatibility </span></h2>
<p><span>Alongside this, there are also wallets that allow you to toggle between both Cashaddr and legacy addresses within the wallet interface. If a user does find some compatibility issues with a wallet that does not support the Cashaddr format, there is a tool that can convert a BCH Cashaddr address to the Legacy format and vice versa. The website Bitcoincash.org has this </span><a href="http://cashaddr.bitcoincash.org/" target="_blank" rel="noopener"><span>tool available</span></a><span> for users who run into wallet compatibility issues. Another converter tool is also available in the Electron Cash 3.1 client.   </span></p>
<p><span>“</span><span>Any legacy bitcoin address format will convert to one and only one Cashaddr format, and the same is true in reverse.  So there will always be two versions (legacy and Cashaddr) of any given address, and they are interchangeable because they correspond to the same set of private and public keys,” explains the Bitcoin ABC development team regarding the Cashaddr addresses relationship with the legacy format.  </span></p>
<blockquote class="td_pull_quote td_pull_center">
<blockquote class="td_quote_box td_box_center"><p><b><i>The address format is just an encoding — To use an analogy, think of the encoding as just a wrapper, or “clothing — Consider the fact that you can always talk to your friends, regardless of what clothes either of you happen to be wearing. In this analogy, what’s underneath the clothes is the raw public key hash (pubkeyHash). You can convert from the old format to the new format, or from the old format to the format and there are several converter tools available.</i></b></p></blockquote>
</blockquote>
<h2><img class="aligncenter wp-image-108437 size-full" title="A Look At Service Providers and Tools Supporting the New BCH Cashaddr Format" src="https://news.bitcoin.com/wp-content/uploads/2018/02/Converter.jpg" alt="A Look At Service Providers and Tools Supporting the New BCH Cashaddr Format" width="1000" height="225" srcset="https://news.bitcoin.com/wp-content/uploads/2018/02/Converter.jpg 1000w, https://news.bitcoin.com/wp-content/uploads/2018/02/Converter-300x68.jpg 300w, https://news.bitcoin.com/wp-content/uploads/2018/02/Converter-768x173.jpg 768w, https://news.bitcoin.com/wp-content/uploads/2018/02/Converter-696x157.jpg 696w" sizes="(max-width: 1000px) 100vw, 1000px"></h2>
<h2><span>Some Providers Show No Intention to Upgrade</span></h2>
<p><span>At the moment there are a few wallets who have no immediate intentions to support the Cashaddr format. On January 17 the wallet provider Jaxx </span><a href="https://twitter.com/Jaxx_Support/status/953694404459618304" target="_blank" rel="noopener"><span>said</span></a><span> they have “no plans to integrate Cashaddr at the moment.” The hardware wallet provider Ledger </span><a href="https://www.reddit.com/r/ledgerwallet/comments/7hcxcw/upcoming_bitcoin_cash_bch_new_address_format/dqqm0j9/" target="_blank" rel="noopener"><span>stated a while back</span></a><span> the company does not plan to support the change. “It’d be significantly easier for everybody to just update the P2PKH and P2SH versions while keeping the same address format, or reuse Bech32, so wallet developers don’t have to support two different but almost similar schemes,” explains Ledger’s chief technical officer (CTO). <a href="https://np.reddit.com/r/TREZOR/comments/7hau2z/will_trezor_support_the_jan_14th_bitcoin_cash/dqpxpk3/" target="_blank" rel="noopener">According</a> to the CTO of the hardware wallet company Satoshi Labs his development team doesn’t plan to upgrade the Trezor software to the new format anytime soon.</span></p>
<p><span>There’s plenty of work around for people who have issues with compatibility between wallet interfaces. However, a great majority of the bitcoin cash ecosystem has upgraded, and other BCH supporting companies plan to do so in the near future. </span></p>
<p><b><i>Is there a wallet that you know that is Cashaddr compatible that’s not mentioned above? Let us know so we can update our list. What do you think about the new format? Let us know your thoughts on this change in the comments below.</i></b></p>
<hr>
<p><em>Images via Pixabay, Bitcoin.com, Blockchain.info, Electron Cash, BTC.com, Bitcoincash.org, Copay, and Bitpay.</em></p>
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<p><i>Need to calculate your bitcoin holdings? Check our </i><a href="http://tools.bitcoin.com/" target="_blank" rel="noopener noreferrer"><i><u>tools</u></i></a><i> section.</i></p>
<p>The post <a rel="nofollow" href="https://news.bitcoin.com/a-look-at-service-providers-and-tools-supporting-the-new-bch-cashaddr-format/">A Look At Service Providers and Tools Supporting the New BCH Cashaddr Format</a> appeared first on <a rel="nofollow" href="https://news.bitcoin.com/">Bitcoin News</a>.</p>
</div><br/><div>Source: https://news.bitcoin.com/a-look-at-service-providers-and-tools-supporting-the-new-bch-cashaddr-format/</div><br/><hr/><h4>UNICEF Asks Gamers to Mine Cryptocurrency for Syrian Children</h4><div>
<img width="696" height="696" src="https://news.bitcoin.com/wp-content/uploads/2018/02/UNICEF-768x768.jpg" class="attachment-medium_large size-medium_large wp-post-image" alt="UNICEF Asks Gamers to Mine Cryptocurrency for Syrian Children" srcset="https://news.bitcoin.com/wp-content/uploads/2018/02/UNICEF-768x768.jpg 768w, https://news.bitcoin.com/wp-content/uploads/2018/02/UNICEF-150x150.jpg 150w, https://news.bitcoin.com/wp-content/uploads/2018/02/UNICEF-300x300.jpg 300w, https://news.bitcoin.com/wp-content/uploads/2018/02/UNICEF-1024x1024.jpg 1024w, https://news.bitcoin.com/wp-content/uploads/2018/02/UNICEF-696x696.jpg 696w, https://news.bitcoin.com/wp-content/uploads/2018/02/UNICEF-1392x1392.jpg 1392w, https://news.bitcoin.com/wp-content/uploads/2018/02/UNICEF-1068x1068.jpg 1068w, https://news.bitcoin.com/wp-content/uploads/2018/02/UNICEF-420x420.jpg 420w, https://news.bitcoin.com/wp-content/uploads/2018/02/UNICEF.jpg 1600w" sizes="(max-width: 696px) 100vw, 696px"><p><strong>The invention of cryptocurrency is a revolution in modern finance but it has far reaching implications in many other fields as well. For example, a new initiative by UNICEF harnesses the power of mining to create a new form of philanthropy.</strong></p>
<p><em><strong>Also Read: </strong><a href="https://news.bitcoin.com/senate-of-nigeria-launches-probe-of-bitcoin-trading-in-the-country/" target="_blank" rel="noopener">Senate of Nigeria Launches Probe of Bitcoin Trading in the Country</a></em></p>
<h2>Mining for Charity</h2>
<figure class="wp-caption alignright"><img class="size-medium wp-image-108297" src="https://news.bitcoin.com/wp-content/uploads/2018/02/shutterstock_630281081-300x200.jpg" alt="UNICEF Asks Gamers to Mine Cryptocurrency for Syrian Children" width="300" height="200" srcset="https://news.bitcoin.com/wp-content/uploads/2018/02/shutterstock_630281081-300x200.jpg 300w, https://news.bitcoin.com/wp-content/uploads/2018/02/shutterstock_630281081-768x512.jpg 768w, https://news.bitcoin.com/wp-content/uploads/2018/02/shutterstock_630281081-696x464.jpg 696w, https://news.bitcoin.com/wp-content/uploads/2018/02/shutterstock_630281081-630x420.jpg 630w, https://news.bitcoin.com/wp-content/uploads/2018/02/shutterstock_630281081.jpg 1000w" sizes="(max-width: 300px) 100vw, 300px"><figcaption class="wp-caption-text">Syrian children playing in a refugee camp</figcaption></figure><p><span lang="en-US">On February 2nd, The United Nations Children’s Fund (UNICEF</span><span lang="en-US">) has launched a new fundraising program meant to help </span><span lang="en-US">finance the needs of protecting </span><span lang="en-US">Syrian kids. Called </span><span lang="en-US">Gamer Chaingers, it uses cryptocurrency mining as a </span><span lang="en-US">method </span><span lang="en-US">to raise funds without asking for monitory donations.</span></p>
<p>People who wish to participate in the innovative <span lang="en-US">UNICEF</span> program can visit its <a href="https://www.chaingers.io/en/index.html" target="_blank" rel="noopener">website</a>, download the mining software and receive simple instructions on how to operate it. According to the displayed statistics on the site, the program already has 249 mining participants as of the time of this writing.</p>
<p><span lang="en-US">T</span><span lang="en-US">he website explains to those unfamiliar with the field that: “Today, humanitarian collections often solicit the same people with the same methods, but cryptocurrencies and their revolutionary approach are an opportunity to raise funds differently. Have you heard of Bitcoin? Ethereum is the same, except that you can more easily ‘mine’ the Ethereum coins via your computer and that money will go directly into the UNICEF wallet.”</span></p>
<p></p>
<h2>Why Gamers?</h2>
<p><img class="alignright size-medium wp-image-108300" src="https://news.bitcoin.com/wp-content/uploads/2018/02/shutterstock_794468068-300x200.jpg" alt="UNICEF Asks Gamers to Mine Cryptocurrency for Syrian Children" width="300" height="200" srcset="https://news.bitcoin.com/wp-content/uploads/2018/02/shutterstock_794468068-300x200.jpg 300w, https://news.bitcoin.com/wp-content/uploads/2018/02/shutterstock_794468068-768x511.jpg 768w, https://news.bitcoin.com/wp-content/uploads/2018/02/shutterstock_794468068-696x463.jpg 696w, https://news.bitcoin.com/wp-content/uploads/2018/02/shutterstock_794468068-632x420.jpg 632w, https://news.bitcoin.com/wp-content/uploads/2018/02/shutterstock_794468068.jpg 1000w" sizes="(max-width: 300px) 100vw, 300px">PC gamers are not exactly the usual crowd that charities target for fundraising and donations, but they now hold a valuable resource thanks to the invention of cryptocurrency mining. Powerful graphics cards are used to render games faster and with higher resolutions, but they can also be used to generate cryptocurrencies.</p>
<p>While <a href="https://news.bitcoin.com/nvidia-tries-to-limit-gpu-sales-to-cryptocurrency-miners/" target="_blank" rel="noopener">professional GPU miners</a> have their systems running without any down time as much as possible, gamers have to eat, study, sleep and work once in a while, and thus have plenty of spare cycles to contribute. <span lang="en-US">UNICEF hopes they will be willing to lend their powerful gaming rigs (and the associated electricity costs of running them) during their down times and thus support the charity without having to make a single money transfer.</span></p>
<p><strong><em>What other new forms of philanthropy are made possible with cryptocurrency? Tell us what you think in the comments section below.</em> </strong></p>
<hr>
<p><em>Images courtesy of Shutterstock.</em></p>
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<p><em>Do you like to research and read about Bitcoin technology? Check out <a class="vglnk" href="http://bitcoin.com/" target="_blank" rel="nofollow noopener">Bitcoin.com</a>’s <a href="http://wiki.bitcoin.com/" target="_blank" rel="noopener">Wiki</a> page for an in-depth look at Bitcoin’s innovative technology and interesting history.</em></p>
<p>The post <a rel="nofollow" href="https://news.bitcoin.com/unicef-asks-gamers-to-mine-cryptocurrency-for-syrian-children/">UNICEF Asks Gamers to Mine Cryptocurrency for Syrian Children</a> appeared first on <a rel="nofollow" href="https://news.bitcoin.com/">Bitcoin News</a>.</p>
</div><br/><div>Source: https://news.bitcoin.com/unicef-asks-gamers-to-mine-cryptocurrency-for-syrian-children/</div><br/><hr/><h4>Japan’s Leading Low-Cost Airline Details Plan to Accept Bitcoin</h4><div>
<img width="696" height="696" src="https://news.bitcoin.com/wp-content/uploads/2018/02/peach-banner-768x768.png" class="attachment-medium_large size-medium_large wp-post-image" alt="Japan's Leading Low-Cost Airline Clarifies Plan to Accept Bitcoin" srcset="https://news.bitcoin.com/wp-content/uploads/2018/02/peach-banner-768x768.png 768w, https://news.bitcoin.com/wp-content/uploads/2018/02/peach-banner-150x150.png 150w, https://news.bitcoin.com/wp-content/uploads/2018/02/peach-banner-300x300.png 300w, https://news.bitcoin.com/wp-content/uploads/2018/02/peach-banner-1024x1024.png 1024w, https://news.bitcoin.com/wp-content/uploads/2018/02/peach-banner-696x696.png 696w, https://news.bitcoin.com/wp-content/uploads/2018/02/peach-banner-1392x1392.png 1392w, https://news.bitcoin.com/wp-content/uploads/2018/02/peach-banner-1068x1068.png 1068w, https://news.bitcoin.com/wp-content/uploads/2018/02/peach-banner-420x420.png 420w" sizes="(max-width: 696px) 100vw, 696px"><p><strong>Japan’s leading low-cost airline, Peach Aviation, has been working to implement a bitcoin payment system. Recently, there were reports that the company may be rethinking its bitcoin strategy following the recent hack of a major Japanese cryptocurrency exchange. Peach Aviation and its bitcoin exchange partner have clarified their position.</strong></p>
<p><em><strong>Also read:</strong> <a href="https://news.bitcoin.com/japans-dmm-bitcoin-exchange-opens-for-business-cryptocurrencies/" target="_blank" rel="noopener">Japan’s DMM Bitcoin Exchange Opens for Business With 7 Cryptocurrencies</a></em></p>
<h2>Peach’s Plan to Accept Bitcoin</h2>
<p>Peach Aviation has recently clarified its plan to accept bitcoin for airline tickets. This is in response to recent media reports that suggest that the company may be halting its plan to accept the digital currency following the <a href="https://news.bitcoin.com/japan-unfazed-exchange-hack-realizing-cryptocurrencies-not-blame/" target="_blank" rel="noopener">hack</a> of a major Japanese bitcoin exchange, Coincheck – where 58 billion yen (~USD$527 million) worth of NEM were stolen.</p>
<p><img class="aligncenter wp-image-108237" title="Japan's Leading Low-Cost Airline Clarifies Plan to Accept Bitcoin" src="https://news.bitcoin.com/wp-content/uploads/2018/02/peach-1024x380.jpg" alt="Japan's Leading Low Cost Airline Clarifies Plan to Accept Bitcoin" width="900" height="334" srcset="https://news.bitcoin.com/wp-content/uploads/2018/02/peach-1024x380.jpg 1024w, https://news.bitcoin.com/wp-content/uploads/2018/02/peach-300x111.jpg 300w, https://news.bitcoin.com/wp-content/uploads/2018/02/peach-768x285.jpg 768w, https://news.bitcoin.com/wp-content/uploads/2018/02/peach-696x258.jpg 696w, https://news.bitcoin.com/wp-content/uploads/2018/02/peach-1392x517.jpg 1392w, https://news.bitcoin.com/wp-content/uploads/2018/02/peach-1068x396.jpg 1068w, https://news.bitcoin.com/wp-content/uploads/2018/02/peach-1131x420.jpg 1131w" sizes="(max-width: 900px) 100vw, 900px"></p>
<p>Operating more than 90 daily flights and servicing 12 domestic and 13 international routes, Peach Aviation claims to have more than 13,000 daily passengers.</p>
<p>The company first <a href="https://news.bitcoin.com/japanese-airline-bitcoin-cryptocurrency-fever/" target="_blank" rel="noopener">announced</a> in May of last year that it would accept bitcoin through a partnership with Japanese cryptocurrency exchange, Bitpoint Japan. In addition, Peach plans to expand its bitcoin payment services “through collaborations with local administrative bodies and local companies.” Peach and Bitpoint plan to jointly implement <a href="https://news.bitcoin.com/japanese-airline-to-install-btms-and-introduce-its-own-bitcoin-wallet/" target="_blank" rel="noopener">various initiatives</a> such as installing bitcoin ATMs (BTMs) at airports as well as introducing bitcoin payments at souvenir shops, restaurants, and accommodation facilities.</p>
<p><img class="alignright wp-image-108238 size-medium" title="Japan's Leading Low-Cost Airline Clarifies Plan to Accept Bitcoin" src="https://news.bitcoin.com/wp-content/uploads/2018/02/bitpoint-300x107.jpg" alt="Japan's Leading Low-Cost Airline Clarifies Plan to Accept Bitcoin" width="300" height="107" srcset="https://news.bitcoin.com/wp-content/uploads/2018/02/bitpoint-300x107.jpg 300w, https://news.bitcoin.com/wp-content/uploads/2018/02/bitpoint.jpg 631w" sizes="(max-width: 300px) 100vw, 300px">“Both companies plan to start the service from the autumn of 2017 and will gradually implement various measures in accordance with various laws and regulations,” they announced in May. However, in December, Peach postponed the timeframe to “start [accepting bitcoin] within the fiscal year,” which ends in March 2018, the Sankei reported.</p>
<h2>Peach’s Plan Only Delayed</h2>
<p><img class="alignright wp-image-108239 size-medium" title="Japan's Leading Low-Cost Airline Clarifies Plan to Accept Bitcoin" src="https://news.bitcoin.com/wp-content/uploads/2018/02/shutterstock_706362790-300x200.jpg" alt="Japan's Leading Low-Cost Airline Clarifies Plan to Accept Bitcoin" width="300" height="200" srcset="https://news.bitcoin.com/wp-content/uploads/2018/02/shutterstock_706362790-300x200.jpg 300w, https://news.bitcoin.com/wp-content/uploads/2018/02/shutterstock_706362790.jpg 500w" sizes="(max-width: 300px) 100vw, 300px">“We are reviewing the timing of service start,” the spokeswoman for Peach’s public relations told Nikkei Online, confirming that the service has been postponed. The reason for the postponement is “the fluctuation of the bitcoin market [which] has been intensifying since the end of 2017,” she said, noting that the company would “like to start the service [but is] waiting for the market to settle.” Peach also denied any reports of it abandoning the bitcoin payment plan. “I’m actually preparing the settlement system,” the spokeswoman was quoted by the news outlet.</p>
<p>Bitpoint Japan also subsequently issued its own statement clarifying the situation. “We will notify you as to the specific service start time and its contents as soon as it is finalized,” the exchange wrote, adding:</p>
<blockquote class="td_pull_quote td_pull_center">
<blockquote class="td_quote_box td_box_center"><p>Currently, we are working diligently to realize this service.</p></blockquote>
</blockquote>
<p><em><strong>Do you think Peach will accept bitcoin soon? </strong><strong><em>Le</em>t us know in the comments section below.</strong></em></p>
<hr>
<p><em>Images courtesy of Shutterstock, Bitpoint, and Peach Aviation.</em></p>
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<p>The post <a rel="nofollow" href="https://news.bitcoin.com/japans-leading-low-cost-airline-clarifies-plan-accept-bitcoin/">Japan’s Leading Low-Cost Airline Details Plan to Accept Bitcoin</a> appeared first on <a rel="nofollow" href="https://news.bitcoin.com/">Bitcoin News</a>.</p>
</div><br/><div>Source: https://news.bitcoin.com/japans-leading-low-cost-airline-clarifies-plan-accept-bitcoin/</div><br/><hr/>Source: https://news.bitcoin.com/