The Daily Dose

BTC China, until recently the world’s largest Bitcoin exchange, has rolled out an ATM Web app called Picasso that lets you sell Bitcoins in return for cold hard cash — but both parties have to be physically present in order to carry out the exchange. At first glance, this is a highly inconvenient arrangement. A BTC China spokesperson tells TNW that because it isn’t a legal financial institution, it cannot transfer money to bank accounts directly — and in order to circumvent that, the exchange between buyer and seller has to be a physical payment of cash. The move looks likely to be a response to…

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