r/Bitcoin - VISA: "The concept of digital currency — or a

Inside China's mission to create an all-powerful cryptocurrency. Bitcoin miners face severe regulation in China. Instead, the country is creating its own digital currency – and it could be adopted at a fast rate.

Inside China's mission to create an all-powerful cryptocurrency. Bitcoin miners face severe regulation in China. Instead, the country is creating its own digital currency – and it could be adopted at a fast rate. submitted by ngt_ to CryptoCurrency [link] [comments]

ICYMI: Another attack on bitcoin coming from Congress (bill would ban "aggregated transactions," attempts to make "concealment" of data a crime, proposes freezing bank accounts, and would require individual users of "digital currencies" to be regulated to the same level as banks).

Edit: Thanks for the gold, anon redditor, and thanks everyone who commented and contributed, I was surprised to log in and see this thing had shot to the top of bitcoin. Please continue to write your legislators about this and similar legislation, and of course, keep using bitcoin.
The whole text of their proposal: https://www.congress.gov/bill/115th-congress/senate-bill/1241/text
If in the U.S.: Write your representatives to oppose S.1241: https://democracy.io/
Write to Administration to demand a veto of S.1241 or anything like it if it were ever to reach the White House for signature or veto: https://www.whitehouse.gov/contact
An opposition letter to S.1241 has been developed by the Bitcoin Foundation, but I don't think it goes far enough. I think any organizational opposition letter (e.g. from EFF, Bitcoin Foundation, or other org) should call for total and absolute death by fire of S.1241 or anything like it. (See second season of Stranger Things if you have any question about what I mean about death by fire.) https://bitcoinfoundation.org/redraft-%c2%a71241-combating-money-laundering-act-2017/
(The following is my recent letter over the weekend sent to the U.S. Administration regarding S.1241, requesting that a position be taken on the bill to announce that a veto would be provided if the legislation were to be advanced. Please feel free to copy and paste from it or develop your own.)
This is regarding S.1241 - the so-called "Combating Money Laundering, Terrorist Financing, and Counterfeiting Act of 2017."
This proposal is a sick joke. Its proponents have given a fancy name to something that simply put, is designed to attack the American worker and would do absolutely zero in relation to what the title implies.
The bill would brings cryptocurrencies under the umbrella of civil forfeiture. It also would require the DHS to provide, within 18 months of ratification, a report on strategies to detect cryptocurrencies at border crossings, which would be impossible since there is no technology that can do that.
I can put a bitcoin on a paper wallet or memorize seed words in my brain that represent a whole wallet and cross borders physically or virtually, then later reproducing the wallet at will. This law would attempt to prohibit me from exercising my memory to access my resources across borders, a ridiculous approach to finance. Finance is of course cross-border and private.
Section 13 of the proposed Act is just one particularly vicious aspect of it, constituting nothing less than an attack upon the American worker.
Sec. 13 of S.1241 seeks to define anyone issuing, redeeming, or cashing bitcoin as a financial institution, requiring them to comply with the Bank Secrecy Act, 31 U.S.C. §5312 and requiring INDIVIDUALS AND SMALL BUSINESSES to adopt the same formal reporting procedures as financial institutions for the purpose of reporting suspicious financial transactions.
In effect this Act would treat INDIVIDUALS as though they were BANKS and impose the same financial licensing and reporting obligations on them.
Please communicate to those who are pushing S.1241 forward that it will get nothing but a Veto.
Thank you.
submitted by pcvcolin to Bitcoin [link] [comments]

04-06 11:04 - 'Crypto Regulation News: South Korea’s central bank begins pilot program for testing digital currency, US lawmakers considering digital dollar to stimulate economy, Bank of France says Ethereum and Ripple could pow...' (medium.com) by /u/sasha_sh removed from /r/Bitcoin within 16-26min

Crypto Regulation News: South Korea’s central bank begins pilot program for testing digital currency, US lawmakers considering digital dollar to stimulate economy, Bank of France says Ethereum and Ripple could power central bank digital currencies
Go1dfish undelete link
unreddit undelete link
Author: sasha_sh
submitted by removalbot to removalbot [link] [comments]

@Reuters: ICYMI: Regulators are trying to come up with a framework for digital currencies which could have serious ramifications for Bitcoin, @tomwilson1983 says https://t.co/DMDSEci04o https://t.co/AwfFMzPQNC

@Reuters: ICYMI: Regulators are trying to come up with a framework for digital currencies which could have serious ramifications for Bitcoin, @tomwilson1983 says https://t.co/DMDSEci04o https://t.co/AwfFMzPQNC submitted by -en- to newsbotbot [link] [comments]

@Reuters: ICYMI: Regulators are trying to come up with a framework for digital currencies which could have serious ramifications for Bitcoin, @tomwilson1983 says https://t.co/DMDSEci04o https://t.co/eqzY5XNcpJ

@Reuters: ICYMI: Regulators are trying to come up with a framework for digital currencies which could have serious ramifications for Bitcoin, @tomwilson1983 says https://t.co/DMDSEci04o https://t.co/eqzY5XNcpJ submitted by -en- to newsbotbot [link] [comments]

Inside China's mission to create an all-powerful cryptocurrency. Bitcoin miners face severe regulation in China. Instead, the country is creating its own digital currency – and it could be adopted at a fast rate.

Inside China's mission to create an all-powerful cryptocurrency. Bitcoin miners face severe regulation in China. Instead, the country is creating its own digital currency – and it could be adopted at a fast rate. submitted by scgco to GGCrypto [link] [comments]

FUD ALERT! Jackbooted Bankster in charge of the Canadian National Bank says Bitcoin is Gambling, and will be regulated as such. Claims blockchain not necessary if Canada issues a digital currency, using a simple ledger is all that is needed.

FUD ALERT! Jackbooted Bankster in charge of the Canadian National Bank says Bitcoin is Gambling, and will be regulated as such. Claims blockchain not necessary if Canada issues a digital currency, using a simple ledger is all that is needed. submitted by Barkey_McButtstain to Buttcoin [link] [comments]

NYSE Chairman Says Bitcoin (BTC) And Other Digital Currencies Have A Place In The Regulated Market

NYSE Chairman Says Bitcoin (BTC) And Other Digital Currencies Have A Place In The Regulated Market submitted by Ranzware to BitNewsLive [link] [comments]

'Wild West' Bitcoin 'should be regulated'. Digital currencies pose a "litany of risks" and investors have little protection, says an MPs' committee.

This is the best tl;dr I could make, original reduced by 56%. (I'm a bot)
Bitcoin and other digital currencies are a "Wild West industry" and need to be regulated to protect investors, a committee of MPs has urged.
Problems include volatile prices, minimal consumer protection and risks of hacking and money-laundering, says the Treasury Committee.
"Crypto-asset investors are currently afforded very little protection from the litany of risks. Namely, there are no formal mechanisms for consumer redress, nor compensation," said the committee.
"As the government and regulators decide whether the current Wild West situation is allowed to continue, or whether they are going to introduce regulation, consumers remain unprotected," said the Treasury Committee.
CryptoUK, which was set up in February as a self-regulatory body for the crypto-currency industry, said it welcomed the Treasury Committee's recommendations.
"Regulatory oversight is essential to ensuring consumer safety, guarding against malpractice and providing much needed clarity to an industry that is fast maturing."
Summary Source | FAQ | Feedback | Top keywords: committee#1 consumer#2 industry#3 government#4 regulators#5
Post found in /technology, /Bitcoin, /BBCauto and /AutoNewspaper.
NOTICE: This thread is for discussing the submission topic. Please do not discuss the concept of the autotldr bot here.
submitted by autotldr to autotldr [link] [comments]

Bitcoin mentioned around Reddit: 'Wild West' Bitcoin 'should be regulated'. Digital currencies pose a "litany of risks" and investors have little protection, says an MPs' committee. /r/technology

Bitcoin mentioned around Reddit: 'Wild West' Bitcoin 'should be regulated'. Digital currencies pose a submitted by SimilarAdvantage to BitcoinAll [link] [comments]

ICYMI: Another attack on bitcoin coming from Congress (bill would ban "aggregated transactions," attempts to make "concealment" of data a crime, proposes freezing bank accounts, and would require individual users of "digital currencies" to be regulated to the same level as banks). /r/Bitcoin

ICYMI: Another attack on bitcoin coming from Congress (bill would ban submitted by BitcoinAllBot to BitcoinAll [link] [comments]

@WSJ: A British regulator proposed a ban on selling derivatives based on bitcoin and other digital currencies to individual investors https://t.co/UhaHmN8zH8

submitted by -en- to newsbotbot [link] [comments]

Digital Currencies like Bitcoin May be Heavily Regulated in EU as Part of a New 3rd E-Money Directive

submitted by themusicgod1 to Bitcoin [link] [comments]

Global Bank Regulators Attests to the Growth of Bitcoin, Differentiates Crypto from Central Bank Digital Currencies

Global Bank Regulators Attests to the Growth of Bitcoin, Differentiates Crypto from Central Bank Digital Currencies submitted by layuse to CryptoMarkets [link] [comments]

Global Bank Regulators Attests to the Growth of Bitcoin, Differentiates Crypto from Central Bank Digital Currencies - Today's Gazette - Cryptocurrency, Bitcoin, Ripple, Tron, Verge, Cardano News

Global Bank Regulators Attests to the Growth of Bitcoin, Differentiates Crypto from Central Bank Digital Currencies - Today's Gazette - Cryptocurrency, Bitcoin, Ripple, Tron, Verge, Cardano News submitted by khalsz to btc [link] [comments]

Global Bank Regulators Attests to the Growth of Bitcoin, Differentiates Crypto from Central Bank Digital Currencies

Global Bank Regulators Attests to the Growth of Bitcoin, Differentiates Crypto from Central Bank Digital Currencies submitted by layuse to Bitcoin [link] [comments]

Washington state financial regulation department writes that digital currency and Bitcoin is money

On the Department of Financial Institutions (DFI) web page for money transmitters there is a Featured Information section:
http://www.dfi.wa.gov/cs/money-services-providers.htm
The first bullet proclaims that under the Revised Code of Washington (Washington state's law code) digital currencies, crypto-currencies, and specifically Bitcoin are "money."
There are many different digital currencies being used over the internet, the most commonly known being Bitcoin. In Washington, digital currency is included in the definition of "Money" in the Uniform Money Services Act (UMSA), chapter 19.230 RCW
The relevant RCW 19.230.010 definition 16.
Now that specific text doesn't seem to speak at all to digital currencies least of which Bitcoin which is decentralized and not controlled or required to be accepted by any government. Nonetheless the web page does clearly state the that it is considered "money" for their intents and purposes anyway.
I'd say this means that this specific department (DFI) has interpreted the law code to include Bitcoin. Whether courts of law, judges, the state legislature, or even their own judgements or executive actions would include digital currencies remains to be seen. But it's a clear precedent in my book.
I would guess this paragraph was written due to many inquiries into Bitcoin and digital currency money transmission. E.g. people inquiring or apply for licenses for ATMs. But that's, of course, just a guess.
Interesting local development nonetheless. Anybody have any more info?
submitted by FliedenRailway to Bitcoin [link] [comments]

How the Marshall Islands Envisions Its National Digital Currenc... #bitcoin #btc #ico Bitcoin Regulation… https://t.co/vy3sejvTSx - Crypto Dynamic Info - Whales's

Posted at: February 17, 2019 at 03:01AM
By:
How the Marshall Islands Envisions Its National Digital Currenc... #bitcoin #btc #ico Bitcoin Regulation… https://t.co/vy3sejvTSx
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submitted by cryptotradingbot to cryptobots [link] [comments]

Digital Currencies like Bitcoin May be Heavily Regulated in EU as Part of a New 3rd E-Money Directive

submitted by themusicgod1 to europe [link] [comments]

Swedish politician Mathias Sundin pledges to _only_ accept bitcoin for campaign donations, vehemetly fight knee-jerk regulation of digital currency.

Swedish politician Mathias Sundin pledges to _only_ accept bitcoin for campaign donations, vehemetly fight knee-jerk regulation of digital currency. submitted by ziggamon to Bitcoin [link] [comments]

"South Korea...is considering strengthening its bitcoin and digital currency regulations. Reportedly, the regulators want to punish ICOs"

submitted by mayjc to litecoin [link] [comments]

“Bitcoin is a type of digital currency in which encryption techniques are used to regulate the generation of units… https://t.co/RoKm3NC1g5 - Crypto Insider Info - Whales's

Posted at: December 13, 2018 at 03:06PM
By:
“Bitcoin is a type of digital currency in which encryption techniques are used to regulate the generation of units… https://t.co/RoKm3NC1g5
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submitted by cryptotradingbot to cryptobots [link] [comments]

Elon Musk: Bitcoin and Digital Currency Bitcoin Rises: Digital currency beats paper 5 Reasons Why Bitcoin Will NOT Succeed as a Currency! Why Bitcoin Won't Work Bitcoin Faucet: Extrabtc - 4 satoshis every 0 minutes (Faucetpay) Digital currency regulation and the crypto market Interview with Cryptalgo

The model predicts that the Bitcoin price will increase in the long-term because of the decreasing mining rewards and the digital currency’s limited or algorithmically capped supply. In a legal sense, digital money acts exactly as fiat and is regulated by law. You can use it to pay for services, buy goods or simply send to other people. Any currency that can be transferred online falls into the category of digital money, including crypto. Consecutively, one of the main features of digital money is its intangibility. Industry players including Gemini, a regulated cryptocurrency exchange and Anchorage, a digital asset custodian, agree this can be good for the industry. That's an interesting statement for Visa to make ( "The concept of digital currency — or a digital version of cash controlled by a private key — was created more than a decade ago, with the launch of Bitcoin.") as the Whitepaper Bitcoin: A Peer-to-Peer Electronic Cash System that launched this whole thing does not in any way claim that digital cash is its own invention. Senator Ozouf said "This is believed to be the first regulated Bitcoin fund in operation and Jersey is pleased to be paving the way. Fintech, which broadly defines the emerging digital industry in finance, is a sector that I believe holds significant opportunities for Jersey.

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Elon Musk: Bitcoin and Digital Currency

Imagine having money that's free from government control, safe from haircuts and decentralized. There is such a thing - and it's called 'bitcoin'. The cyber-currency's value has increased ten-fold ... Bitcoin as a form of payment for products and services has seen growth,and merchants have an incentive to accept the digital currency because fees are lower than the 2-3% typically imposed by ... World Bank’s Garcia Mora on Fintech Trends, Regulation, Digital Currencies - Duration: 7:23. ... Bitcoin Documentary Crypto Currencies Bitcoins Blockchain Digital Currency ... Trump Wears a Mask & The White House Goes After Fauci The Daily Social Distancing Show - Duration: 8:54. The Daily Show with Trevor Noah Recommended for you. New By the power of digital currency licenses!) Only digital currencies regulated by an emission center such as Europe, for example, have value and weight in the real economy ... Why do 99.9% of ...

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