Bitcoin Daily: Stripe Ends Support For Bitcoin, bitFlyer Expands In Europe

Digital Coins Europe

Due to bitcoin’s volatility and lengthy transaction times, Stripe has decided to end support for the popular cryptocurrency, TechCrunch reported. Those seeking to use bitcoin on Stripe still have a bit of time – the policy will not take effect immediately, as the company plans to end support for bitcoin on April 23.

But that news may not affect a large swath of the general population, as the cryptocurrency is not that well-known outside of those in digital media – or perhaps those in finance. Only one in six Americans have even heard of bitcoin, TechCrunch reported, according to findings from SurveyMonkey and the Global Blockchain Business Council. The survey also found that a mere 5 percent of people own bitcoin, and the majority of bitcoin owners are male (71 percent of the survey population) and non-white.

Those in the know about Ethereum, however, can trade celebrity tokens on the CryptoCelebrities blockchain, TheNextWeb reported. A blockchain “game,” CryptoCelebrities enables users to spend Ethereum (ETH) on virtual famous people, such as Donald Trump, Vitalik Buterin and Emma Watson.

But there is an interesting twist to the game: There is a limited supply of celebrities, and each is one of a kind. If another user decides they would like the celebrity more than someone else, they can buy it at a higher cost, and its current holder must sell.

And, as the South Korean government cracks down on digital coins and the G20 gears up to debate cryptocurrency regulation, Japanese bitcoin is expanding to Europe, according to Reuters. The Japanese exchange bitFlyer is reportedly capturing high demand, and seeking millions of new users in Europe.

In South America, Venezuela is gearing up to launch its own “petro” cryptocurrency, which will not be available in the nation’s crashing bolivar currency, Reuters reported. Leftist President Nicolas Maduro said the cryptocurrency would be backed by the country’s crude reserves, but his opposition says the move would not be legal.


New PYMNTS Report: Preventing Financial Crimes Playbook – July 2020 

Call it the great tug-of-war. Fraudsters are teaming up to form elaborate rings that work in sync to launch account takeovers. Chris Tremont, EVP at Radius Bank, tells PYMNTS that financial institutions (FIs) can beat such highly organized fraudsters at their own game. In the July 2020 Preventing Financial Crimes Playbook, Tremont lays out how.