UK-Based Lazycoins Says Beta Phase Successful, Looking to Target London Merchant Adoption

The UK-based bitcoin exchange startup, Lazycoins, says that its beta phase was a success and that it is now fully launching trading services.

The exchange first launched about a month and half ago. It claims to now have 10,000 registered users, although traded volume appears low--a total of less than 1 BTC has been traded during the past 24h, according to its market history.

Lazycoins says it employs features such as 2-factor authentication (2FA), Cold Storage Cold Storage Cold storage is a computer system or mode of operation that is designed for the retention of inactive data, in this case private keys for cryptocurrencies. This helps put up resilient barriers against theft by hackers and malware, and is often a necessary security protocol especially dealing with large amounts of Bitcoin.In order to “own” a cryptocurrency, one must be in control of a cryptocurrency’s private keys. As such, private keys are long strings of random characters that can be used to se Cold storage is a computer system or mode of operation that is designed for the retention of inactive data, in this case private keys for cryptocurrencies. This helps put up resilient barriers against theft by hackers and malware, and is often a necessary security protocol especially dealing with large amounts of Bitcoin.In order to “own” a cryptocurrency, one must be in control of a cryptocurrency’s private keys. As such, private keys are long strings of random characters that can be used to se Read this Term and "a server facility...deep in the Swiss Alps that deploys multi-level state-of-the-art security systems."

It charges a fee of 0.23% per trade. There are no fees on withdrawals.

It has also obtained Money Laundering Regulations registration through Her Majesty's Revenue & Customs (HMRC) office, operating under the trading name Crypto Software Solutions as a Bureau de change.

Also planned for launch is LazyPay, to help local merchants accept bitcoin. There is also LazyTV, which features cryptocurrency-related videos.

It remains to be seen how successful the exchange will be in what has become a saturated market, although order book driven, GBP-denominated offerings are harder to come by.

It also remains to be seen how a recent action plan for digital currency Regulation Regulation Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Read this Term by the UK Treasury may shape the industry. A major component of the framework is related to anti-money laundering (AML), with a focus on digital currency exchanges.

The government is also planning on working with the British Standards Association (BSI) and the local industry to define voluntary standards. It has also earmarked £10 million for research, bringing together the Research Councils, Alan Turing Institute and Digital Catapult with the industry.