Paxum Ditches Bitcoins

Paxum which is a company that came up after the ePass fiasco has been struggling to find it’s way.  Most recently they have announced an issue with Bitcoin.

Here is their official announcement about it.

Over the course of the last two weeks, Paxum has been in communication with our banking partners, Mastercard, and our auditors to evaluate the best interests of Paxum (and its clients) in relation to Bitcoin.

After much discussion and consideration it has been decided that, though Bitcoin’s are not illegal, they are considered high risk. At Paxum we do not want to jeopardize our clients, or our business model, in any way. In light of that, and after considerable consultation, we have chosen to take the pro-active step of ceasing all business with Bitcoin and Bitcoin Exchangers.

This situation has also been discussed with Bitcoin Exchangers, who completely understand the motives behind this decision.

Thank you for your time.