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

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.

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Lazycoins says it employs features such as 2-factor authentication (2FA), cold storage 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.

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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 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.

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