Bitcoin News Roundup – 17 Jan. 2016

Recapping the week’s biggest Bitcoins stories from around the web.

Class action lawsuit filed against Cryptsy. As Jamie Redman of News Bitcoin writes, the digital currency exchange has been under inspection following the complaints of many users who faced withdrawal issues when trying to collect their bitcoins. Cryptsy originally reported a severe denial of the server (DDoS), on November 22, and then, following months of uncertainty and rumors of insolvency, it announced that it suspends its services indefinitely. Additionally, Cryptsy claims to have been the target of a bitcoin wallet theft on July 2014, consisting of 13,000 BTC and another one of 300,000 LTC, pointing the finger to the developer of Lucky7Coin as the organizer of the theft.

Emercoin partners with Microsoft to join the Azure marketplace. As Tom Clancy of CryptoCoins News writes, the leading digital currency and blockchain platform has joined forces with Microsoft to deliver their services to the Azure cloud blockchain marketplace. Capitalizing on the growing demand for ground-breaking blockchain services, Emercoin has developed a suite of ready-to-use features that can be a great fit to the Azure platform, offering Azure users the ability to install and use a wide range of innovative solutions and services.

Bitcoin (again) Branded a Failure as Media Erupts Over Mike Hearn Exit – Long-time bitcoin enthusiast and developer Mike Hearn officially “left” the open-source project this week, making clear a previously quiet departure by slamming the door in the form of an impassioned if highly contentious open letter to the community.

ChainHQ gives an edge to the blockchain environment. As Ian Allison of International Business Times reports, BlockchainBriefing, the top-tier distributed ledger technology information and news portal is launching ChainHQ, a searchable database of blockchain investments that tracks and compiles the latest company and blockchain technology developments. The subscriber-only portal has raised nearly $1bn of industry funding and provides its subscribers with information on the legal context of the blockchain technology as well as emerging sector leaders, among other.

Regulation

Bitcoin ban bill submitted to the Russian legislature. As Daniel Palmer of Coin Desk writes, following the long-standing ambiguous legal environment for the bitcoin in Russia, the lawmakers have submitted a new draft bill to the Russian legislature requesting the ban of the bitcoin and digital currencies on Russian soil. On the same page, the Russian Ministry of Finance that is responsible for legislation in the industry has also highlighted the need to ban the use of digital currencies as they may pose a threat to government-issued money. The latest bill, if approved, is expected to effectively ban the use and exchange of “money surrogates” in Russia.

Payments

Netflix ready for the bitcoin. As Amelia Tomasicchio of Coin Telegraph writes, Netflix CFO David Wells has announced during the Citi 2016 Internet, Media  Telecommunications Conference that the company is open to the possibility of accepting bitcoin payments. The California-based multinational provider of on-demand Internet streaming media is already accepting payment sin local currencies in Hong Kong, India, Indonesia, Malaysia, Philippines, Singapore, Taiwan, Thailand, and Vietnam because local governments impose restrictions on the use of credit cards for international transactions. Through the adoption of bitcoin payments, Netflix will be able to accept payments all over the world, but also to keep in line with major competitors such as Dish Network and Lionsgate that have already adopted the bitcoin.

Freemit uses cryptocurrency infrastructure to facilitate global money transfer. As Giulio Prisco of Bitcoin Magazine reports, the fintech startup is about to create a streamlined, low-cost alternative to the currency exchange systems to offer instant access to 3.6 billion customers to their accounts using bitcoin. “Money when you need it, anywhere, in any currency, from anyone, in seconds, NO fees” Freemit’s website reads. The service is expected to start rolling sometime in the year. For now, interested users are signing up in a waiting list.

ypsilon.NET joins forces with BitPay. As Gola Yashu of NewsBtc reports, the leading European travel IT company is integrating BitPay API on its platform to facilitate bitcoin payments. Patrick Götz, ypsilon.NET sales marketing director, states that “As a leading IT company in an industry that is particularly hard hit by credit card fraud, we are always looking for new solutions for payment processing.” The partnership is expected to offer ypsilon.NET a secure method of accepting digital currency payments on their platforms given the “extensive experience of BitPay as a payment processor for bitcoin.

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