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Bitcoin-Central licensed to operate just like a bank

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Bitcoin-Central has reached an agreement with French payment processor Acoba and France’s Credit Mutuel bank to become a payment service provider.  This will allow Bitcoin-Central to function much like a bank.  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 equivalent of the FDIC (Federal Deposit Insurance Corporation).  In a few months, Bitcoin-Central will be able to accept direct deposits and even automatically convert hard-earned cash into Bitcoins.


Sources: Engadget
Image credit: Zach Copley, Flickr