Bitcoin Exchange Refuses Online Poker Transactions

Poker Fuse – A player at Seals With Clubs (SwC) has reported that Bitcoin exchange Coinbase cancelled his access to their services after he made a deposit onto the world’s leading Bitcoin-only online poker room.

Coinbase stated that it's “a regulated Money Service Business under the FinCEN division of the U.S... Treasury Department” and erroneously claimed that gambling “is illegal under US law.”

The message went directly to caution that “even for those who live outside of the U.S. we can't provide services on your account for the aim of any form of gambling activity.”

Coinbase is a number one Bitcoin exchange. Its online wallet service allows consumers to store Bitcoins, receive them from others, and send them to merchants. However, its website provides an inventory of “Prohibited Businesses” which might be barred from Coinbase services.

The list includes businesses dealing in activities reminiscent of prostitution, stolen goods, extortion, counterfeit products and other illegal undertakings. However, one prohibited business type stands out for its loss of concern over its legality: gambling.

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