Bitcoin exchange gets status of bank

Bitcoin-Central has in Europe, the status of the bank. It is the first time that a bitcoin exchange is a bank. The step makes transactions with banks easier and ensures that users are better protected and are eligible for compensation.

Bitcoin-Central has bank status, thanks to an agreement with the French financial service firms Aqoba and Credit Mutuel. The ‘currency exchange’ is, according to the European law, a Payment Services Provider with an international bank identification number. This makes it possible to use charge cards to spend and real money transactions with accounts from other banks to perform.

Also, certain beschermingsregels now of application, which users, for example, under certain circumstances, be entitled to compensation if the liquidity of the payment service at risk. This would, however, only to the stock of euros, and not applicable to bitcoins.

The step means a huge push in the back from Bitcoin, says Vitalik Buterin of Bitcoin magazine, told the BBC: “the more governments and banks are willing to with Bitcoin to go, how more organizations have come to rely on to the step itself.”