Don't just help spread rumors from other sources.

There seems to be some confusion about our recent announcement of a partnership with Aqoba allowing us to hold Euro balances legally. There has been an overwhelming response to this development, unfortunately some of the information quoted by journalists is factually incorrect.

This shall serve as a clarification.

In short, Paymium is neither a bank, nor a PSP. And it doesn't need to be.

Paymium, the company behind Bitcoin-Central has partnered with Aqoba, which is a registered PSP. The Crédit Mutuel Arkéa bank (not to be confused with the Crédit Mutuel bank) is the bank that Aqoba is associated with to provide the financial infrastructure a PSP needs.

This allows Aqoba to keep funds on behalf of third-parties in payment accounts ("comptes de paiement") which are different from bank accounts ("comptes de dépôt"). The difference between these is that funds deposited on a payment account may not be used for investments or loaned out. Additionnaly, these accounts have no overdraft capabilities.

These accounts will soon get their own IBAN number, be able to be associated with a debit card, but remain distinct from what is legally referred to as a "bank account".

In short :

Crédit Mutuel Arkéa is the bank that is used by Aqoba for its financial infrastructure needs,
Aqoba is a registered PSP,
Paymium works with Aqoba in order to operate as an intermediary when individuals and corporations wish to engage in the exchange of Bitcoins,
The "Garantie des dépôts" mechanism (which resembles the FDIC) covers our clients against a collapse of the Crédit Mutuel Arkéa bank.
Funds deposited with us will still remain clearly separated from Paymium's funds.

It is still a big development for a Bitcoin exchange to be able to operate legally within the European regulatory framework. Bitcoin-Central is leading the way in this respect. But we're neither a bank, nor a PSP. And we intend to keep it that way.

ego often fades with age when you realize the pitiful skills you have are no better than those of a banker, lawyer, doctor, or anyone else that truly knows their shit. On the other hand, you could just be a raging asshole, those exist in any field of study.

I've bought so much crap off Amazon with them, I wish the difficulty would go back down so I could generate more!

. . . . the only way to win is not to play.

My car already gets 50mpg highway and it was built 12 years ago. 2000 VW Jetta TDI.

503 - Service Unavailable . . . . HA!

Except 3 guys in a rowboat with 20 pounds of IED.

If all the countries in the world take their military budgets for one year and spend the money on space research and exploration, how much farther we could progress as a species.

FARKIN TIME!

ISP - You provide me with access to The Internet, what I choose to do with that access is none of your business. I SO hate what the net has become.

650 miles in 3 minutes? I'm SO there!

Spin it any way you want, if your goal is to have a system that just 'feels like it knows me' then it HAS to collect data on you to personalize the experience.

I stand corrected. The link does not carry rule of law . . . . . but a bit more searching provided the actual regulation.

http://www.usmint.gov/downloads/consumer/FederalRegisterNotice.pdf

Interesting that it doesn't state that it replaces the prior law, I guess we get to choose which law we follow?

You linked an article in a newspaper. I'm referencing the actual law. btw, did you bother to READ the rest of the comments on the /. post you referenced? They pretty much nullified the post.

The last line is most relevant. DOUBLE WRONG!

Section 331 of Title 18 of the United States code provides criminal penalties for anyone who fraudulently alters, defaces, mutilates impairs, diminishes, falsifies, scales, or lightens any of the coins coined at the Mints of the United States. This statute means that you may be violating the law if you change the appearance of the coin and fraudulently represent it to be other than the altered coin that it is. As a matter of policy, the Mint does not promote coloring, plating or altering U.S. coinage: however, there are no sanctions against such activity absent fraudulent intent.

Maybe in Canada, not in the US. If you ARE referring to the US, you are thinking about it's illegal to DEFACE currency, meaning revalue it.