[2016-12-08] Circle Stops Buying and Selling of Bitcoin, Shifts to Social Payments

[btc_manager]

[img]https://btcmanager.com/wp-content/uploa ... itcoin.jpg[/img

Circle announced on December 7 that it would be closing doors to direct Bitcoin selling and buying, as well as the introduction of Spark, a new open-source project that will facilitate the transfer of currency across borders.

For customers that still hold Bitcoin, holdings will still be applicable under Circle’s Bitcoin Insurance Policy. Bitcoin holding customers can still withdraw to their linked bank account, but must first convert to USD, GBP, or EUR depending on the area of the client. Once converted, however, the account will remain in fiat currency...

Read more here:

https://btcmanager.com/news/business/ci ... -payments/


Follow BTCManager for the latest on Fintech, Blockchain, and Bitcoin!

[Rmcdermott927]

In their newsletter it also said that their own upcoming new payments system would be blockchain based.

Rather than admit that this was all due to heightened regulatory pressure, they said "Bitcoin simply does not fit into our business model"., which is hard to believe considering their platform was entirely based on the buying and selling of BTC.