New Zealand bitcoin exchange to close, cites uncooperative banks

Feb. 13, 2017

A New Zealand bitcoin exchange, BItNZ, has announced on its website it will close Apr. 15 since banks in that country will not allow accounts to trade bitcoins. The exchange has advised users to withdraw all funds.

BitNZ thanked customers on Reddit for their support, noting it has processed more than 11,000 bank transactions since 2011.

The exchange raised the question of whether there is a fairness regulator, claiming the banks' actions are anti-competitive.

BitNZ also operates bitcoin ATMs, according to its website.


Topics: Bitcoin


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