Bitcoin-Central becomes first Bitcoin exchange licensed to operate like a bank

Bitcoin-Central becomes first Bitcoin exchange licensed to operate like a bank

BitInstant may be aiming for a Bitcoin debit card , but it looks like a European Bitcoin exchange will beat it to the punch. After working with French financial regulators, Bitcoin-Central has hammered out a deal with French payment processor Acoba and France’s Credit Mutuel bank to become a payment service provider, which allows it to function much like a bank. According to Bitcoin-Central, it’s the first exchange of the digital currency to be licensed to operate as a bank and function within the framework of European regulations. Customers will now have funds held under their name — rather than that of the exchange — at Credit Mutuel and insured by the Garantie des dépôts , the French analog of the FDIC (Federal Deposit Insurance Corporation)

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Bitcoin-Central becomes first Bitcoin exchange licensed to operate like a bank

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