Bitcoin Exchange Refuses Online Poker Transactions

bitcoin 3Poker 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 is “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 on to caution that “even if you live outside of the US we cannot provide services to your account for the purpose of any type of gambling activity.”

Coinbase is a leading Bitcoin exchange. Its online wallet service allows consumers to store Bitcoins, receive them from others, and send them to merchants. However, its website provides a list of “Prohibited Businesses” which are barred from Coinbase services.

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

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