Search results “Bitcoin exchange money transmitter regulations”
Bitcoin's Regulatory Nightmare Is About to Get More Frightening
Let’s say you want to start a Bitcoin company in the U.S., chances are you’re going to need a Money Transmitter License, or rather 51 of them, because 47 states three territories and the District of Columbia each have their own permitting process for any business that handles money on behalf of its customers. This regulatory maze is thwarting the plans of many Bitcoin startups. "Some [of our] applications have been in for over a year, and we're not able to determine the path forward because it's not a clear process," says Megan Burton, CEO of the Bitcoin exchange firm CoinX, at a May 16, 2014 public hearing of the Conference of State Bank Supervisors' Emerging Payments Task Force. Fred Ehrsam, cofounder of the Bitcoin Wallet firm Coinbase, said at a public event in New York City last month that becoming compliant in just half the states has so far taken his company "two years and cost $2 million." But dealing with the states is just the beginning. Bitcoin firms also have to abide by the rules of the Federal Consumer Financial Protection Bureau and the U.S. Treasury’s Financial Crimes Enforcement Network, which just sent a chill through the industry by fining the the cryptocurrency startup Ripple Labs $700,000 for allegedly violating its rules. "It takes lawyers in each state, criminal background checks in each state, bonds in each state," says Jerry Brito, who's the executive director of Coin Center, an industry advocacy group. "It's a huge barrier to entry." Instead of working to sort out this regulatory mess, government officials are piling on even more red tape. Benjamin Lawsky, New York State’s top financial regulator, has spent the last year hammering out the details of the so-called BitLicense, a new regulatory regime that will apply to virtual currency companies that serve customers in New York. "Right now the regulation of the virtual currency industry is still akin to a virtual wild west," Lawsky said at a public hearing on the BitLicense that was held on January 29, 2014 in New York City. Lawsky points to a slew of recent headlines about drug sales, alleged money laundering, and theft in the Bitcoin world. But these activities are already illegal under existing laws and regulations, and New York already requires that companies obtain a Money Transmitter License. The latest draft of the BitLicense doesn't say whether companies will be required to obtain both. "It doesn't acheive any purpose to require two licenses," says Brito. "When you do the background check for one license, what's the point of doing a background check for another license?" While the final details of the BitLicense won’t be released until later this month, the most recent draft duplicate federal regulations that already on the books. "It has an anti-money laundering provision, which is something that's unprecedented," says Brito. "Anti-money laundering is something...handled at by the Financial Crimes Enforcement Network at the Treasury Department. So now if you are a business, not only do you have to file Suspicious Activity Reports and Know Your Customer forms for the federal government, but now you also have to do it for a state as well." "We already have rules against fraud and hacking, so really what we're left with is something that's really onerous and burdensome not just for American companies but for companies all over the world," says Bruce Fenton, who's the executive director of the Bitcoin Foundation. What the Bitcoin industry really needs is for regulators to simplify the rules and processes that are already on the books. Not only would that clear the path for small innovative startups that can’t afford a legal team, it would also leave consumers better protected because companies would be accountable to one agency. "Ideally a small startup could go to one place, wherever that is, and follow clear and simple rules to get licensing," says Brito. "We don't know when the next Facebook is going to come along started by a guy in his dorm," says Fenton. "What if he had to spend $4 million to start that? We never would have seen it. We may not even know what kind of innovations are around the corner if we stifle them before they have a chance to start." 3 minutes and 23 seconds. Written and produced by Jim Epstein. Go to http://reason.com/reasontv for downloadable versions and subscribe to Reason TV's YouTube Channel to receive automatic updates when new material goes live
Views: 18479 ReasonTV
Everything You Need To Know About Money Transmitter Licensing
This week on Around the Coin, Faisal Khan, Brian Roemmele, and Mike Townsend discuss everything about money transmitter licenses, including how they work, who needs one, and how bitcoin plays a role. Around the Coin.
Views: 2140 Around The Coin
CryptoTaxPrep.com Presents: What's A Money Transmitter?
CryptoTaxPrep.com is the industry leader in Cryptocurrency Tax Preparation. Visit us at https://CryptoTaxPrep.com to learn more and sign-up. Federal and state laws require people to be licensed as money transmitters if they transmit funds from one person to another. Over the past few years, a number of individuals and businesses have been arrested and charged with financial crimes related to the unlicensed transmission of Bitcoin or other crypto coins. But does that mean you must register yourself as a money transmitter if you buy virtual currencies for friends or family?
Views: 5971 Happy Tax Franchising
FINCEN Says Money Transmitter Laws Apply To ICO's!
Hello WrenchGang, I am able to be reached by email which can be found on our "About" Page on Youtube located at the link below https://www.youtube.com/cryptonews/about I can also be contacted by all members of our Patreon via direct message on Patreon. If you would like to help donate to keep this show rolling you help by signing up for our Patreon at patreon.com/mattbeasley Or you can contribute to our effort to provide engaging discussions and crypto advice by donating Crypto to one of the addresses below. Bitcoin 377tYv4dHqo2gXajcjirjuXgQvPbWhv443 Ethereum 0x9b1956a6743e5e5383A012C4615443391E11BC08 Litecoin MAnasq344SrCa4M7Bx3zKVSiedzj8cJfT8 Bitcoin Cash qpjtfxc7wrud87alt809ntfxsdhyl3d9tqq58f7hxr Due to some issues behind the scenes and in order to protect my well being and my families well being I have been forced to disable comments and chat on our Youtube videos. We have also disabled our Twitter account. This will allow our broadcasts to stay on topic and not be interrupted by people who do not contribute to our conversation in a positive manner. I have done as much as I can to ward off the situation but it has reached a point now where I cannot let it continue. Hopefully in the near future we will be able to resume our conversations in the chat but for right now that is not possible. I appreciate each and everyone of you that has supported the show since day one and continues to support. Your not in this alone I am right here with you guys all the time. Note*** I am not a financial advisor and by no means should even be consider an expert in how to manage your money. I do these shows to have open conversations about the shape of the crypto markets and sometimes share my own personal opinion on how the markets might behave in the future.
FinCEN Registration & Money Transmitter Licenses
Question: Does registration on FinCEN give you a money transmitter license? About Faisal Khan Faisal Khan is a banking / payments consultant specializing in cross-border payment system and a digital money evangelist. He is the co-host of Around the Coin, a weekly podcast on Payments & Fintech with over 18,000+ listeners. Mr. Khan is a talent scout for Series A & B financing for various fintech VCs/funds. He is also a frequent contributor to popular Q&A site Quora where he has been a Top Writer 6 consecutive years. Comments for this video have been disabled, please use this link to comment/contact: https://faisalkhan.com/contact/ SCHEDULE A FREE 15 MINUTE CALL: https://faisalkhan.com/calendar/ Website: - Faisal Khan: https://faisalkhan.com - Twitter: https://twitter.com/babushka99 - Facebook: https://www.facebook.com/faisalkhanpaymentconsultant/ - LinkedIn: https://www.linkedin.com/in/faisalkhan99/ - Quora: https://www.quora.com/profile/Faisal-Khan-1 - Podcast: http://www.aroundthecoin.com - Blog: https://faisalkhan.com/blog/ - Blog on Medium: https://blog.faisalkhan.com/
Views: 79 Faisal Khan
Fear of a Bitcoin unfriendly New Hampshire money transmitter law makes Poloniex suspend NH accounts
New Hampshire does not seem to be very libertarian when it comes to associating Bitcoin and money transmitters. Poloniex is trying to deal with the horrible NH law while outside the USA exchanges like BTC-e ignore such obstacles. Are you a Steem Power parasite? The Poloniex Press release- https://poloniex.com/press-releases/2016.09.21-notice-to-new-hampshire-residents/ Old article that talks about New Hamshire's money transmitter law: bravenewcoin.com/news/new-hampshire-money-transmitter-rule-change-will-include-bitcoin-businesses/ A recent article that explains the current New Hampshire Poloniex debacle- https://www.cryptocoinsnews.com/cryptocurrency-exchange-poloniex-to-suspend-new-hampshire-accounts-due-to-regulations/ Buy your Bitcoin Trezor storage device here: https://buytrezor.com/?a=c81d29b7bbf1 Buy Bitcoin at Coinbase here: https://www.coinbase.com/join/528aa4ec443594782100003a Support the cause if you like what I have to say: BTC: 124ZqLGRePVx4P6YSDLnzjETZ1ByFsDTfb ETC: 0x36ab30f3ef5165e29b5fcefbc06511004c16ed31 Monero: 47MnZvoKVeZL4xhczW3t7zTnHQhJ3wkJ2Yxgyh2iWKTDhqrvdxjg41xZXrJhzn4yXxGVCJyNBroxK738rHKfGPWkQRQ2jj1 LTC: LaFAfLv9XoadM3kPDpMoPKcxHWYQop8uSs ETH: 0x7386dbca3e8da787cc39190802fcba85a07ea5a9 DASH: Xfew368HijpMxSQNosJvyfMPw4enigg7CZ Vcash (XVC)= VbRjaqW1GocDweAM7MVve4z2PWRKYWWTYs I ACCEPT EVERY ALTCOIN! This video explains what to do to get me to list, talk about, and create a payment address for your favorite Altcoin: https://www.youtube.com/watch?v=VD9GOslS4zg My latest Steemit post: https://steemit.com/bitcoin/@bitcoinmeister/my-bitcoin-pitch-to-african-nations-ethereum-classic-usd1-speculation-and-the-fed-and-btc My Steemit: https://steemit.com/@bitcoinmeister/posts https://www.youtube.com/c/BitcoinMeister http://disruptmeister.com/ Watch more of my Bitcoin videos here: https://www.youtube.com/playlist?list=PLLgyAakZPtCVQKl6naVHUfOiICFG8BYMp Adam Meister is available for an hour long Bitcoin/cryptocurrency consultation where he can walk you through the Trezor installation process and help you move your Bitcoins to the Trezor. He will answer all your questions in that hour. Trezor is just one Bitcoin topic that Adam can help you with, you can ask his advice on anything cryptocurrency related. From marketing and promotion to Altcoins to storage and the buy and hold philosophy. Adam's hourly rate is .2 Bitcoin. Feel free to email: Adam AT TrezorHelp DOT com to set up a Skype/phone consultation or to arrange an in person appearance or speaking engagement. Adam is available to speak at conferences around the world. https://www.youtube.com/watch?v=zThSLOl-s6w Follow Adam on Twitter here: https://twitter.com/TechBalt.
Views: 480 BitcoinMeister
FinCEN Releases Rules Classifying Bitcoin Exchanges, Buyers And Miners As Money Transmittors
BREAKING: FinCEN Releases Regulations Classifying Digital Currency Exchanges And Possibly Even Buyers And Miners As Money Services Businesses Get More Details and links to reddit articles pointing to the SEC sending out hundreds of inquiry letters to bitcoin companies in regards to unregistered securities as the founders of GHash.io and CEX.io, Ltd. receive subpoenas from the SEC here: http://www.followthecoin.com/?p=3872 Like us on Facebook http://facebook.com/followthecoin Follow us on Twitter http://twitter.com/followthecoin Check out more news at http://followthecoin.com/news
Views: 3279 Follow The Coin
Liberty Lobby - Week 3 - Exempting Virtual Currency Users from Money Transmitter Regulations
HB 436 would carve out an exemption for bitcoin and other virtual currency users from the money transmitter regulations, but there are some problems. Here's the full hearing video.
Views: 374 FreeKeene
Money Transmitter Basics 01
Money Transmitters and other money services businesses are required to comply with the US Bank Secrecy Act as well as state banking laws requiring money transmitter licenses. This is a short video that introduces viewers to MSB and MTL compliance requirements as a function of their business model. This is not legal advice.
Views: 9677 Adam Atlas
Write the Rules, Win the Game. Regulating Bitcoin.
Ben Lawsky to step from the NY State Department of Financial Services to start his own legal consulting firm to advise companies on digital currencies. North Carolina is heightening its regulations on Bitcoin. A new bill passed by the house aims to revamp existing regulations called the NC Money Transmitter Acts.
Views: 374 Money & Tech
Fintech Podcast - Episode 5 - Money Transmitter License Agent
If you are trying to be an agent of someone else's money transmitter license, you might want to know about this. Website: - Faisal Khan: https://faisalkhan.com - Twitter: https://twitter.com/babushka99 - Facebook: https://www.facebook.com/faisalkhanpaymentconsultant/ - LinkedIn: https://www.linkedin.com/in/faisalkhan99/ - Quora: https://www.quora.com/profile/Faisal-Khan-1 - Podcast: http://www.aroundthecoin.com - Blog: https://faisalkhan.com/blog/ - Blog on Medium: https://blog.faisalkhan.com/ Royalty-Free Music by BenSound: http://www.bensound.com/
Views: 123 Faisal Khan
Save Bitcoin Businesses In California: Withdraw AB-1326
Petition: https://www.change.org/p/matthew-dababneh-california-state-house-california-state-senate-save-buttonwood-sf-withdraw-ab-1326 References: [*] http://leginfo.legislature.ca.gov/faces/billNavClient.xhtml?bill_id=201520160AB1326 [*] http://www.meetup.com/Buttonwood-SF-P2P-Cryptocurrency-Trading/ [*] http://bitcoin-otc.com/trust.php [*] https://www.cryptoconsortium.org/ [*] http://www.datauthority.org [*] http://www.digitalcurrencycouncil.com/ On Independence Day 2013, I held the first ever Buttonwood SF meetup, a face-to-face bitcoin trading meetup not unlike the Satoshi Squares held elsewhere all around the world. Then in May 2014, in response to a story which claimed that Ross Ulbricht had attended Buttonwood to sell his Silk Road bitcoins, I was quoted by Forbes reporter Kashmir Hill as saying, “If it turns into an act of civil disobedience to trade Bitcoin at Buttonwood, I would question if that’s the type of world I want to live in.” Well, if California State Assembly Member Matthew Dababneh gets his way, that will be the type of world that all Californians will be living in. Assembly Member Dababneh has introduced a bill, AB-1326 which "would prohibit a person from engaging in this state in the business of virtual currency" without either a mandatory license or a special exemption from the State. Banks, licensed money transmitters, specific State agencies, and merchants who accept bitcoin for goods and services are among those excluded; retail bitcoin traders such as those who attend Buttonwood SF are not. I have posted a petition on Change.org requesting that Assembly Member Dababneh withdraw his bill, and further requesting that the State Legislature consider against introducing in the future any similar legislation which would impose upon bitcoin businesses any special regulation, registration, or licensing requirements. If you support the free trade of bitcoin among private individuals and businesses, please sign my petition and share it with your social and professional networks. Should AB-1326 pass, I will have little choice but to shut down Buttonwood SF for fear of political persecution. Your signature and feedback is appreciated.
Views: 192 P2P Connects Us
Crypto Weekly (3/11/18) - Bitcoin crash, regulation incoming, Plasma Cash and more!
Let's talk about the last week in crypto! ** Note: Any opinions in this video to not represent investment or financial advice. Mention of specific projects does not imply endorsement. Always seek advice from a certified financial advisor. ** ### Find the video helpful? ### Support my work and get access to exclusive perks on Patreon: https://www.patreon.com/ummjackson ### Follow me on Twitter ### https://twitter.com/ummjackson ### Links mentioned ### - https://www.bloomberg.com/news/articles/2018-03-07/bitcoin-s-tokyo-whale-sold-400-million-and-he-s-not-done-yet - https://www.fool.com/investing/2018/03/11/sec-to-bitcoin-investors-you-should-demand-regulat.aspx - https://www.coindesk.com/fincen-money-transmitter-rules-apply-ico-developers-exchanges/ - https://coincentral.com/coinbase-poised-launch-crytpocurrency-index-fund/ - https://beta.techcrunch.com/2018/03/08/qarnot-unveils-a-cryptocurrency-heater-for-your-home/ - https://www.coindesk.com/vitalik-reveals-new-idea-plasma-scaling-ethereum-event/
Views: 3668 Jackson Palmer
What Facebook is doing with money transmitter licenses & future uses for Bitcoin.
This week on Around the Coin, Brian Roemmele, Faisal Khan, and Mike Townsend cover the recent ETA conference, why Facebook money transmitter licenses are so important, and future uses for the Bitcoin block chain.
Views: 253 Around The Coin
New York State Considering New Regulatory Guidelines for Bitcoin
New York State Considering New Regulatory Guidelines for Bitcoin Benjamin M. Lawsky, the superintendent of New York State's Department of Financial Services said that his department has "launched an inquiry into the appropriate regulatory guidelines that it should put in place for virtual currencies," the most prominent of which is bitcoin. Preliminary inquiries have found that there are virtual currency businesses acting as money transmitters. http://allthingsd.com/20130812/new-york-state-considering-new-regulatory-guidelines-for-bitcoin/ http://www.wochit.com
Views: 97 Wochit News
Adam Tracy Explains Money Service Business Registration
Cryptocurrency and payments attorney Adam S. Tracy explains money service business registrations and the requirements of FINCEN money service businesses --- A former competitive rugby player, serial entrepreneur and, trader attorney, Adam S. Tracy offers over 17 years of progressive legal and compliance experience in the areas of corporate, commodities, cryptocurrency, litigation, payments and securities law. Adam's experience ranges from commodities trader for oil giant BP, initial public offerings, M&A, to initial coin offerings, having represented both startups to NASDAQ-listed entities. As an early Bitcoin adapter, Adam has promoted growth of cryptocurrency and offers a unique approach to representing crypto-clients. Based in Chicago, IL, Adam graduated from the University of Notre Dame with dual degrees in Finance and Computer Applications and would later obtain his J.D. and M.B.A. from DePaul University. Adam lives outside Chicago with his six animals, which is illegal where he lives. Bitcoin website: http://www.bitcoin-lawyer.org Primary website: http://www.tracyfirm.com Twitter: https://twitter.com/TracyFirm Youtube: https://www.youtube.com/channel/UCVOa8Iy_RIkmRPwuQliPKfw Linkedin: https://www.linkedin.com/in/adamtracy/ Facebook: https://www.facebook.com/thetracyfirm/ Instagram: @adamtracyattorney Telegram: @adam_tracy Skype: @adamtracyesq Email me: [email protected]
Views: 210 Adam S. Tracy
Adam S Tracy Talks AML vs. KYC Requirements in Cryptocurrency
Cryptocurrency compliance attorney Adam S. Tracy explains the difference between Anti-Money Laundering (AML) v. Know-Your-Customer (KYC) requirements and its application in cryptocurrency ventures --- A former competitive rugby player, serial entrepreneur, trader and attorney, Adam S. Tracy offers over 15 years of progressive legal and compliance experience in the areas of corporate, commodities, cryptocurrency, litigation, payments and securities law. Adam's transactional experience ranges from initial public offerings, mergers and acquisitions to initial coin offerings, representing the pure startup to NASDAQ-listed entities. As an early Bitcoin adapter, Adam Tracy has been deeply involved in the growth of cryptocurrency and offers a unique, proprietary approach to representing crypto-clients. Adam resides in Chicago, IL with his six dogs/cats, which he is fairly certain is illegal in the town in which he lives. Bitcoin website: http://www.bitcoin-lawyer.org Primary website: http://www.tracyfirm.com Twitter: https://twitter.com/TracyFirm Youtube: https://www.youtube.com/channel/UCVOa8Iy_RIkmRPwuQliPKfw Linkedin: https://www.linkedin.com/in/adamtracy/ Facebook: https://www.facebook.com/thetracyfirm/ Instagram: @adamtracyattorney Telegram: @adam_tracy Skype: @adamtracyesq Email me: [email protected] TRANSCRIPTION: So there's a great deal of confusion over AML, Anti-Money Laundering, and KYC, Know Your Customer, and I see a lot of people interchanging them and or assuming the same thing, and they're not. AML is an overall program or policy to prevent the proceeds of criminal activities from flowing through money service businesses. And money service businesses is anything from a bank to the crypto space, a money transmitter, or a money remitter, which is what you see exchanges like coinbase or even cracking get at the state level. That state level license, which was originally was created for purpose of sending things like Western Union and money orders and things of that nature, is what triggers your money service business registration with FinCEN, which is the US Federal Government Official Crimes Network. And that's where your AML policy requirements are triggered. So, AML is sort of the umbrella of requirements and regulatory requirements with respect to being a money service business. KYC, or Know Your Customer, is really an element of AML, almost like a department. The biggest issue with KYC, which is really more pertinent for crypto currency based operation, is CIP, which is Customer Identification Procedures. These are simple things like collecting certain quantitative and qualitative information about a person. So we're talking about basic information - address, name, phone number, tax ID, or passport number, something similar numeric that would be unique to that individual. That's how you can meet your KYC burden. And it's an ongoing burden because, not only do you have to collect and follow the CIP procedures when you on board a client, but you're an ongoing requirement with respect to transactions and suspicious transactions - suspicious transactions being certain denominations, transactions with certain countries or places. And then also, there's a list kept by OFAC, which is Specially Designated Nationals (SDN) List, which you have to consistently scrub your clients both, individual and corporate, against to make sure they're not in the list, which is deemed to be known sponsors of money laundering, terrorism, and things of that nature. So, KYC from a cryptocurrency standpoint, whether it's an exchange or even mining operations, where there is some transfer of FIAT currency to cryptocurrency and back, you really have a medium or a modicum of requirements from the KYC side. And even if you're an exchange that doesn't accept FIAT currency, where you're just trading cryptocurrencies, right, you still ideally would have to register as a money service business so that AML and KYC would trigger in. Now at the AML level, there's sort of a broader policy - a lot of it's very expansive probably not entirely relevant to most crypto ventures - but it does require some ongoing policing at a higher level to understand where the sources and uses of funds that are coming through your company. And it also requires the filing of SARS, or Suspicious Activity Reports, if you're within the United States, which refers to certain transactions or patterns of transactions that, for instance, are meant to be below the five thousand dollar threshold, or a series of transactions that are broken up into smaller amounts to evade detection coming from certain locales and the like. And it's a very broad thing.
Views: 1358 Adam S. Tracy
What is MONEY TRANSMITTER? What does MONEY TRANSMITTER mean? MONEY TRANSMITTER meaning - MONEY TRANSMITTER definition - MONEY TRANSMITTER explanation. Source: Wikipedia.org article, adapted under https://creativecommons.org/licenses/by-sa/3.0/ license. SUBSCRIBE to our Google Earth flights channel - https://www.youtube.com/channel/UC6UuCPh7GrXznZi0Hz2YQnQ In the legal code of the United States, a money transmitter or money transfer service is a business entity that provides money transfer services or payment instruments. Money Transmitters in the US are part of a larger group of entities called money service businesses or MSBs. Under federal law, 18 USC § 1960, businesses are required to register for a Money Transmitter license where their activity falls within the state definition of a money transmitter. Forty-nine US states (sans Montana) regulate money transmitters although the laws vary from one state to the other. Most of the states require a money transmitter surety bond with widely ranging amounts from as little as $25,000 to over $1 million and maintaining a minimum capital requirement. There is an association of state regulators, the Money Transfer Regulators Association (MTRA) that seeks to create uniformity and common practices and efficient and effective regulation of money transmission industry in the United States of America. The MTRA membership consists of state regulatory authorities in charge of regulating money transmitters and sellers of traveler’s checks, money orders, drafts and other money instruments. The money transmitters themselves have a separate association, the National Money Transmitters Association (NMTA) to have a voice in shaping and developing this industry. A related international association, the International Money Transfer Conferences (IMTC), brings together the money transfer industry once a year for the IMTC Miami conference. In 2012 the IMTC brought together close to 400 participants, 67% from the US. The Financial Crimes Enforcement Network (FinCEN) of the U.S. Treasury Department requires MSBs to register. It is also a felony to engage in money transmission without a license in any state that requires a license to operate. Internet and mobile-based payment services are also required to seek a state money transmitter license to offer services to individuals residing in the state. FINCEN has also ruled that Informal Value Transfer Systems (IVTS) are considered money transmitters for the purposes of registration and licensing. FINCEN defines an IVTS as "any system, mechanism, or network of people that receives money for the purpose of making the funds or an equivalent value payable to a third party in another geographic location, whether or not in the same form". These are known as Hawala in the Middle East, Afghanistan and Pakistan, as "hundi" in India and '"fei ch’ien" in China. In regulations enacted in 2012 under the Dodd-Frank Act the Consumer Financial Protection Bureau (CFPB) extended its regulation under a "Remittance Rule" that added some additional protection for US consumers who send money electronically to foreign countries. The rule targets any remittance institution defined as consumer-to-consumer transfers of low monetary value, made via money transmitters, banks or credit unions, through wire transfers or Automated Clearing House (ACH) transactions, to businesses as well as to individuals in foreign countries.
Views: 35 The Audiopedia
Wyoming's Money Transmitter Act.
Coinbase declares it will no longer be offering its services in Wyoming. Wyoming's State division of banking recently passed "The Wyoming Money Transmitter Act" requiring a special license for companies offering hosted bitcoin wallet services to maintain %25 of its reserves in fiat.
Views: 232 Money & Tech
Bitcoin Cryptocurrency and FinTech Lawyer Patrick Murck
Bitcoin, cryptocurrencies, and blockchain technologies do not live in a separate world where regulations and laws do not apply. These technologies are rapidly converging with complex regulations from different countries, including AML / KYC, local taxing authorities such as the IRS in the United States, the SEC, FinCen and more. A new breed of attorney is learning and developing expertise in Bitcoin, cryptocurrencies and blockchain technology. If you’re thinking of starting and operating a related business and you want to know what laws may apply to you (ex: being considered a money transmitter), then this podcast is critical to listen to. Even if you buy and sell bitcoin locally, you may fall under state and or federal laws regarding money transmission. Listen, Subscribe, Review this podcast. Donate bitcoin to keep us going using our public key on future tech podcast dot com
How to open a bitcoin coinbase account bangla toutiral
Coinbase account link: https://www.coinbase.com/join/5ac3404b95cc7b17824caa4c Coinbase, Inc., the company which operates Coinbase and GDAX in the U.S., is licensed to engage in money transmission in most U.S. jurisdictions. Most of Coinbase’s money transmission licenses cover US Dollar Wallets and transfers. In some states, money transmission licenses also cover digital currency wallets and transfers on the platform. In other states, no money transmission license is required to operate a digital currency business Coinbase is also registered as a Money Services Business with FinCEN. Coinbase is required to comply with a number of financial services and consumer protection laws, including: The Bank Secrecy Act, which requires Coinbase to verify customer identities, maintain records of currency transactions for up to 5 years, and report certain transactions. The USA Patriot Act, which requires Coinbase to designate a compliance officer to ensure compliance with all applicable laws, create procedures and controls to ensure compliance, conduct training, and periodically review the compliance program. Most states’ money transmission laws and corresponding regulations. International Currently, no license is required to operate a digital currency business in any other country where Coinbase operates.
Will Bitcoin Replace Current Currency?
Despite its link to now-closed Silk Road, an anonymous Internet marketplace for illegal drugs like heroin and cocaine and criminal activities such as murder for hire, Bitcoin users think the controversy may help the internet currency grow into the mainstream. Supporters say using Bitcoins offers benefits including lower fraud risk and increased privacy, though critics argue the anonymity it offers makes the currency a magnet for drug transactions, money-laundering and other illegal activities. "The short answer of what is a Bitcoin is that it is the currency of the Internet. It's digital currency that people can use just like they use cash. Except they don't have to be right across the table from each other. They can be anywhere in the world. It's entirely borderless," explained Marco Santori, a business lawyer and Chairman of the Bitcoin Foundation's Regulatory Affairs Committee. Santori said although Bitcoin transactions are private, they are not completely anonymous. "People who really know the technology, they refer to it as 'pseudonymous'. So transactions are not anonymous. They can be private in that you might not know who you are transacting with on the other side of the world, but everybody in the world knows you made that transaction," said Santori. On Wednesday (October 2), The Federal Bureau of Investigation (FBI) announced it shut down "Silk Road," and arrested its alleged owner, Ross William Ulbricht, 29, known online as "Dread Pirate Roberts," in San Francisco. The site, which has operated since early 2011, also offered tutorials on hacking ATM machines, contact lists for black market connections and counterfeiters, and guns and hit men for sale, according to the charges. More than 900,000 registered users of the site bought and sold drugs using the digital currency Bitcoin. In recent media reports about the growing popularity of Bitcoin, the Silk Road website has emerged as part of a darker side to the use of digital currencies. Santori said it is a mistake to try to use Bitcoins to hide criminal activity. "It's a terrible tool for money laundering. And it's a terrible tool for criminal activity either. Now that the Silk Road has been shut down, I think that people have really telegraphed their confidence in that statement. Without the Silk Road, people still want Bitcoins. Even without the Silk Road, it's more expensive now to get a bit coin then it was before. I think people saw Silk Road as real weight on the leg of Bitcoin moving toward mass adoption and now that's been released." While Bitcoins, which are not backed by a government or central bank, have begun to gain a footing among some businesses and consumers, they have yet to become an accepted form of payment on the websites of major retailers such as Amazon.com. And like paper money, Bitcoin is a regulated currency. "Bitcoin is in fact heavily regulated. It is very heavily regulated. Those who exchange Bitcoins for other digital currencies or exchange Bitcoins for dollars are money transmitters under the Bank Secrecy Act. And so they have to register with the federal government, report suspicious activity, record, collect and verify and under some circumstances customer information, just like a bank does," said Santori. Bitcoin fees are lower than most bank fees, which makes it attractive to many consumers. Fees charged by Bitcoin firms are typically far less than those charged by banks, credit card companies or other online payment processors. Coinbase charges merchants a 1 percent fee to convert Bitcoin into local currencies, but is currently waiving it for the first $1 million (USD). Atlanta-based BitPay charges a flat 0.99 percent fee. The firm, which has raised $2.7 million, said over 10,000 approved merchants in 164 countries use its platform to accept Bitcoin payments. "Really, I see a future, not too far off, where people really have a meaningful choice in currency. They have a choice in the way that they transact. They don't have to have.. They don't always have to send dollars or some derivative of a dollar. They can send a Bitcoin," added Santori. With the arrest of Ulbricht, the FBI is now the latest holder of Bitcoins. According to the charges against Ulbricht, Silk Road generated sales of more than 9.5 million Bitcoins, roughly equivalent to $1.2 billion. There are currently about 11.8 million Bitcoins in circulation. With Ulbricht's arrest, authorities said they seized $3.6 million worth of Bitcoins.
Views: 695 NTDTV
Bitcoins bounce around after Chinese trading crackdown - economy
A Chinese government crackdown on domestic trading of the virtual currency bitcoin is starting to... euronews, the most watched news channel in Europe Subscribe for your daily dose of international news, curated and explained:http://eurone.ws/10ZCK4a Euronews is available in 13 other languages: http://eurone.ws/17moBCU http://www.euronews.com/2013/12/18/bitcoins-bounce-around-after-chinese-trading-crackdown A Chinese government crackdown on domestic trading of the virtual currency bitcoin is starting to have an effect. A leading Shanghai-based exchange platform has said it will stop taking yuan deposits. BTC China, which is the world's largest bitcoin exchange in terms of volume, was responding to new regulations under which financial institutions were banned from trading them. Beijing said that was to prevent money laundering. Individual trading was not banned. BTC's decision sent the price of the virtual currency down sharply. The yuan-bitcoin exchange rate fell dramatically two weeks ago when the Chinese restrictions were first announced. The dollar price almost halved then having been just over 1,100 dollars. They had started the year at less than 14 dollars. Over the past two months, the value of bitcoin relative to the dollar has skyrocketed some 800 percent as speculators have piled into the currency, according to bitcoinity.org. *"Chilling effect"* The US government is also keeping a close eye on businesses linked to Bitcoin. The Treasury Department's anti money-laundering unit has this week contacted many of them saying they may have to comply with US law and regulation as money transmitters. Bitcoin has grown popular among users who lack faith in the established banking system. It has also raised concerns among law-enforcement authorities that digital currencies could be used for laundering money. The letters have had a "chilling effect" on Bitcoin businesses, which are intimidated by the threat of civil and criminal sanctions for non-compliance, said Jon Matonis, executive director of the Bitcoin Foundation, an advocacy group. Find us on: Youtube http://bit.ly/zr3upY Facebook http://www.facebook.com/euronews.fans Twitter http://twitter.com/euronews
The Truth About Bitcoin
Stefan Molyneux looks at the rise of Bitcoin and discusses its history, mining, fees, altcoins, regulatory hypocrisy, worldwide awareness, comparisons to gold, anonymous transactions, possible government attacks and what the future holds for the decentralized cryptocurrency. Bitcoin Address: 1Fd8RuZqJNG4v56rPD1v6rgYptwnHeJRWs Litecoin Address: Lbxr3M8oezWaguEBc35MoyvQT88C85Sqpi The True Value of Bitcoin: What You Really Need To Know https://www.youtube.com/watch?v=Cs6F91dFYCs Bitcoin vs. Gold: The Future of Money - Peter Schiff Debates Stefan Molyneux http://www.youtube.com/watch?v=mFcTJAQ7zc4 Bitcoin Whitepaper by Satoshi Nakamoto https://www.youtube.com/watch?v=GWH0kTEqYsg& 0:00 How the ruling class controls human livestock. 1:35 How Bitcoin works 8:47 What is money? Is Bitcoin money? (come on, what do you *think* the answer is? :) ) 15:04 Demographics 19:47 Why Bitcoin is better than predecessors 26:54 History (skip here to hear him say "Satoshi" funny) 28:50 Purchasing power of government-issued money going down 40:03 Bitcoin's future popularity 42:15 Big Banks and Big Government hate Bitcoin! 45:00 Not anonymous by default but can be if you want it A very special thanks to Kristov Atlas, author of the upcoming comprehensive guide to bitcoin anonymity, for his assistance with this presentation. Get the latest updates on his book at: http://www.anonymousbitcoinbook.com This video is for information and illustrative purposes only and is not, and should not be regarded as investment advice or as a recommendation regarding any particular security or course of action. Freedomain Radio is 100% funded by viewers like you. Please support the show by signing up for a monthly subscription or making a one time donation at: http://www.fdrurl.com/donate Get more from Stefan Molyneux and Freedomain Radio including books, podcasts and other info at: http://www.freedomainradio.com Amazon US Affiliate Link: www.fdrurl.com/AmazonUS Amazon Canada Affiliate Link: www.fdrurl.com/AmazonCanada Amazon UK Affiliate Link: www.fdrurl.com/AmazonUK Stefan Molyneux's Social Media Facebook: https://www.facebook.com/stefan.molyneux Twitter: https://twitter.com/stefanmolyneux Google+: https://www.google.com/+StefanMolyneux_Freedomain_Radio Linked In: http://www.linkedin.com/pub/stefan-molyneux/5/72a/703 Freedomain Radio Social Media Facebook: https://www.facebook.com/Official.Freedomain.Radio Twitter: https://twitter.com/freedomainradio Google+: https://www.google.com/+FreedomainradioFDR LinkedIn: http://www.linkedin.com/company/freedomain-radio Message Board: http://board.freedomainradio.com Meet-Up Groups: http://www.meetup.com/Freedomain-Radio/ Blogspot: http://freedomain.blogspot.com/ iTunes Podcasts: https://itunes.apple.com/us/podcast/freedomain-radio!-volume-6/id552010683
Views: 830405 Stefan Molyneux
Money Transfer Alliance Program
A brief presentation on how small & medium, independent money transfer operators, holding valid money transmitter licenses can be part of a money transfer alliance program. We will be starting with MSBs based in the US first and then expanding to remittance companies worldwide.
Views: 886 Faisal Khan
Bitcoin ATM Regulation - Regulatory Review Webinar Series (Part 3)
Robocoin, Lamassu… these bitcoin ATM providers might be coming to a city near you. They allow for the purchase of bitcoins for cash, and vice versa, and are an attractive starting point for prospective bitcoiners. However, are bitcoin ATMs legal? We delve into the answers by looking at the regulatory framework imposed on the manufacturer, bitcoin ATM operators, and the consumer.
Views: 324 Payment Week
Are regulated Bitcoin exchanges coming to America?  .::. Flipside Bits 17
Tips: 1ERyQN2h8jZ4VdJBEte92bZ34BgBp2v6iZ -= DJ BOOTH =- Twitter: https://twitter.com/djbooth007/ Web: http://www.flipsidebits.com/ -= EPISODE 17 =- Owners of 1% of all bitcoins, Cameron and Tyler Winklevoss announced that they will be launching a regulated bitcoin exchange named Gemini - which is the Latin word for “twins”. The exchange will be operated out of New York, and this announcement comes before the BitLicence has even been finalised. The winklevii also plan to launch a bitcoin ETF, but who knows when that will actually happened. It's currently with the SEC waiting for approval. The twins have always been bullish on bitcoin recently saying the marketcap could easily reach $1 trillion. But the Winklevoss just cant catch a break. Not only does every article about them mention their lawsuit with Mark Zuckerberg over the claim he stole their idea of Facebook, but now Coinbase has come along to steal their thunder. Not only has Coinbase announced they will be launching a bitcoin exchange, they ACTUALLY launched one! Let's not get carried away. The Coinbase Exchange is only licensed to operate in 14 US states and in 8 that dont need licenses. Plus, the California Department of Business Oversight released a statement denying that Coinbase is licensed to operate in the state under existing money transmission laws, and New York's Department of Financial Services says they have not issued any license to Coinbase yet either. While taking a bit of a jab at Coinbase, Cameron Winklevoss told Pete Rizzo at Coindesk that: "We aren't interested in trying to find a way to be semi-operational, or operate around the fringe or hack our way in." Although the Coinbase Exchange is backed by the New York Stock Exchange, many order types are not available just yet and reviews have suggested that it may have been released a bit too soon. It's great looking software, but lacking features found in high-end trading platforms. Now, Coinbase are claiming to be the *first* regulated bitcoin exchange in America. Well, no. not true... at all. Most US states require exchanges to have a money transmitter license, which is regulated. Therefore there are many regulated bitcoin exchanges operating in the US already such as CampBX, Kraken, Coinfloor, coinX, coinmarket, cryptsy and others. So then why is this a big deal? Well, Coinbase are playing the marketing game. The winklevii announced their exchange, so Coinbase HAD to announce something about their own. It's no coincidence that Coinbase received $75 million in venture capital funding last week. If you're a US-based investor or large volume trader, would you feel comfortable sending millions of dollars to Slovenia or China? US regulated exchanges encourage those millions of dollars to stay within US borders, all backed by FDIC insurance and partner banks. So Coinbase launch an unfinished and limited exchange, while the Winklevoss are trying to get everything in order before officially opening their doors. Then there's LedgerX who has received over $1.5 million funding and have yet to launch their fully regulated Bitcoin derivatives exchange and clearing house. Why is regulation so serious? If approved by the CFTC, LedgerX would be the first regulated Bitcoin options platform to list and clear fully-collateralized, physically-settled Bitcoin options for the institutional market. LedgerX has also applied for registration with the CFTC as a swap execution facility and as a derivatives clearing organization. -= KEEP THE FUN HASHING THROUGH THE BLOCKCHAIN =- Thanks for everyone who tipped, commented and liked. Please Subscribe. Tips: 1ERyQN2h8jZ4VdJBEte92bZ34BgBp2v6iZ
Fintech Podcast - Episode 1 – What constitutes as a money transmitter
What is a money transmitter? Who is one, and what is a simple way to find out if my company or my startup idea would constitute as a money transmitter? Website: - Faisal Khan: https://faisalkhan.com - Twitter: https://twitter.com/babushka99 - Facebook: https://www.facebook.com/faisalkhanpaymentconsultant/ - LinkedIn: https://www.linkedin.com/in/faisalkhan99/ - Quora: https://www.quora.com/profile/Faisal-Khan-1 - Podcast: http://www.aroundthecoin.com - Blog: https://faisalkhan.com/blog/ - Blog on Medium: https://blog.faisalkhan.com/ Royalty-Free Music by BenSound: http://www.bensound.com/
Views: 178 Faisal Khan
The Bitcoin News Show #72 - Overt ASICBoost Patent, PoW Change, Future of Hardware Wallets
The Bitcoin News Show for the week of March 5th with your host @theonevortex and panelists @danrobinson @bitstein @francispouliot_ with special guest @slushcz! Quick Bits: Current Mayer Multiple (spot price / 200 MA): Make sure to join Adam Meister, Andy Hoffman, Mike Krieger, Jack Mallers and myself in person in Denver on April 25th and ask us questions! https://www.eventbrite.com/e/bitcoin-legends-all-star-panel-qa-tickets-44062329614 Shoutout to DJ Booth 007 (@djbooth007) for making a bot that helps warn people about crypto scam tweets on twitter https://twitter.com/djbooth007/status/970474714844942337 Twitter Pledges Action on Crypto Scams After Account Bans https://www.coindesk.com/twitter-pledges-action-crypto-scams-account-shadow-bans/ The coin PAC found itself in the top 3 of coinmarketcap for a few hours due to it's creation of 7.8 trillion coins and around ~40btc of volume https://twitter.com/MindsFiction/status/972161962481201153 More and more regulation coming down on ICOs as FinCEN suggested that Money Transmitter Rules should Apply to ICOs https://www.coindesk.com/fincen-money-transmitter-rules-apply-ico-developers-exchanges/ 'All Funds Are Safe': Binance Denies Crypto Hack Rumors https://www.coindesk.com/funds-safe-binance-denies-crypto-hack-rumors/ Topics Overt ASICBoost patent and PoW Change https://bitcoinmagazine.com/articles/halong-mining-first-bitcoin-mining-hardware-producer-implement-overt-asicboost/ https://bitcoinmagazine.com/articles/slush-pool-now-compatible-asicboost-miners/ Hardware wallets, what's happening and where is the industry going? https://preorder.trezor.io/
Views: 6911 World Crypto Network
Coinbase Renews Money Transmitter License in Wyoming, Reopens Services in State
Coinbase has announced that it has renewed its money transmitter license in Wyoming three years after terminating its activities in the state. The move marks a significant shift in the working relationship between the crypto exchange giant and state regulators following the expiry of the previous license in June 2015. Working With Regulators In a Medium post , Coinbase said that its Wyoming customers can now access the full range of its products, including Coinbase Consumer, Coinbase Market, Coinbase Prime and Coinbase Custody . The blog post described the move as one that will spur innovation and economic activity for individuals, families and communities across the state. Coinbase went on in the statement to highlight its newfound cooperation with Washington state regulators. Coinbase welcomed the opportunity to work with Wyoming House of Representatives Majority Floor Leader David Miller, State Senator Eli Bebout, members of the Blockchain Task Force and their colleagues to find a solution that allows cryptocurrency custodians and exchanges to reestablish operations. We are also grateful for the assistance of Commissioner Forkner, Deputy Commissioner Mulberry, along with the examiners and staff from the Wyoming Division of Banking in their prompt approval of our money transmitter application, the post reads. Going further, Coinbase hailed its return to Wyoming as proof that regulators, lawmakers and cryptocurrency companies can work together to encourage innovation by finding ways to accommodate cryptocurrency trade under existing money transmission laws, even exempting them when necessary. The post specifically mentions the removal of the requirement to double-reserve cryptocurrency assets of Wyoming residents as a critical point of the agreement reached with regulators, enabling it to return to the state. Concluding with what some will see as a statement of intent from a platform that has recently been engaged in an aggressive growth phase, Coinbase states: ...We seek excellence in compliance and advocate for common-sense policies that allow for innovation. We will continue collaborating with legislators and regulators across the U.S. and worldwide as we work to create an open financial system for the world. #regulation #coinbase #money transmitter #Wyoming
Views: 2 bitcoin news
Does Crypto Need A Reset?
crypto is getting a bit weird lately. too many useless coins, too much money spread out to useless or stagnant projects. Sign up with coinbase. buy or sell 100 dollars in crypto currency and get 10 dollars of bitcoin for free with this link to coinbase. https://www.coinbase.com/join/59ab37900671d100b3c25cc5 Want to donate to the channel? Donate Litecoin and send me an email saying how much you sent and I'll try to thank you at the end of the next video! https://steemit.com/@mrsotko Litecoin donation address: LZaQgPhBvQT6PC2gAnLsQGPPaYDPm5dyNx Ethereum donation address: 0x125DE6B8FAb078701e0b11ECb1A6bDF3aF9E73dc Bitcoin donation address: 144vfND4SGhYxyjAWKHBETGncuwdYKmoyG [email protected] https://www.reddit.com/r/CryptoCurrency/comments/8qsj7i/possibly_a_restart/ https://verifiedtopics.com/report-suspicious-transactions-at-korean-exchange-coinrail-months-before-hack/ https://verifiedtopics.com/chinese-newspaper-wants-crypto-reinstated-with-rules/ https://verifiedtopics.com/really-un-tethered-bitcoin-price-manipulation-returns-with-new-research/ https://verifiedtopics.com/as-bitcoin-futures-volumes-increase-credit-agencies-look-to-downgrade-dealers/
Adam S. Tracy Talks Cryptocurrency & State Property Laws
Cryptocurrency lawyer Adam Tracy explains the possible implication of state property laws including unclaimed property laws on bitcoin exchanges and other companies handling cryptocurrency. --- A former competitive rugby player, serial entrepreneur, trader and attorney, Adam S. Tracy offers over 15 years of progressive legal and compliance experience in the areas of corporate, commodities, cryptocurrency, litigation, payments and securities law. Adam's transactional experience ranges from initial public offerings, mergers and acquisitions to initial coin offerings, representing the pure startup to NASDAQ-listed entities. As an early Bitcoin adapter, Adam Tracy has been deeply involved in the growth of cryptocurrency and offers a unique, proprietary approach to representing crypto-clients. Adam resides in Chicago, IL with his six dogs/cats, which he is fairly certain is illegal in the town in which he lives. Bitcoin website: http://www.bitcoin-lawyer.org Primary website: http://www.tracyfirm.com Twitter: https://twitter.com/TracyFirm Youtube: https://www.youtube.com/channel/UCVOa8Iy_RIkmRPwuQliPKfw Linkedin: https://www.linkedin.com/in/adamtracy/ Facebook: https://www.facebook.com/thetracyfirm/ Instagram: @adamtracyattorney Telegram: @adam_tracy Skype: @adamtracyesq Email me: [email protected]
Views: 119 Adam S. Tracy
KCN New Hampshire has softened the regulation of cryptocurrency
Information partner CoinIdol - https://coinidol.com/ Information partner - Bitcoin Garden http://bitcoingarden.tk/ KCN New Hampshire has softened the regulation of cryptocurrency New Hampshire enacted a cryptocurrency-related law. The House of Representatives voted to facilitate the regulation of remittances in the cryptocurrency. The bill 436 sponsored by bitcoin activists Barbara Biggie and Keith Ammon, exempts individuals and companies that use virtual currency for the transfer of funds, from having to register as a company providing money transfer services. The drafts will come to force in 60 days, after sign by the governor of the state Chris Sununu. Do you like our video? Donate: BTC: 1JdRXQuqicwSyn61cd9jyXzAk2QUfu4KEW To add subtitles: http://www.youtube.com/timedtext_cs_panel?tab=2&c=UCWN9FtDP3d-jfJu83pGARxw
Views: 56 KCN News
FinCEN: Miners aren't MSBs + Bitcoin Human Rights + APPSFORCOINS.com | Morning Bit Ep 31
Your morning cup of Bitcoin news | Morning Bit Ep 31 1. FinCEN: Miner's don't need to register as Money Tranmitters or Money Service Businesses (w/ caveat) -- Article: http://www.coindesk.com/fincen-bitcoin-miners-need-not-register-money-transmitters/ 2. Bitcoin is a Human Rights Issue (largely opinion) -- Blog Article: http://www.naavi.org/wp/?p=2146 Book - Confessions of an Economic Hitman: http://www.amazon.com/Confessions-Economic-Hit-John-Perkins-ebook/dp/B001AFF266/ Follow-up Book - A Game As Old As Empire: The Secret World of Economic Hit Men and the Web of Global Corruption: http://www.amazon.com/Game-As-Old-Empire-Corruption-ebook/dp/B003M5HL5M/ 3. APPSFORCOINS - Get iOS apps for Bitcoin -- Site: http://www.appsforcoins.com/ Also -- If your company or project has stickers, buttons, or whatever, send it our way and I'll post it on the wall -- maybe even feature you! I want to see Bitcoin companies (especially transactional focused companies) get adoption and grow in the market! Mail to -- Attn: Morning Bit PO Box 861 MILL VALLEY, CA 94942 Contact Us Anytime! @morningbit @stephensprinkle Note: Logos other than our 'B' logo or stylized 'MorningBit' logo are the property of their respective copyright holders and are in no way associated with Morning Bit nor do they endorse Morning Bit unless explicitly stated. Logos are used under fair use for news + commentary.
Views: 293 MorningBit
Visa CEO: Bitcoin Not a Threat -- FinCEN Miners not Transmitters -- Bitcoin Worldwide
sponsored by http://DigitalBitcoin.org -- the revolution will not be centralized! January 31, 2014 -- London, England -- MadBitcoins: For people on the go! The MadBitcoins Subscriber Index is at 2315. If you thought everything was digital now.... Wait until you see 2315. Deep Star VI just arrived in the Andromeda Galaxy. Human beings are finally getting out of here. Colonizing the Milky Way is so two hundred years ago. Vote MadBitcoins for the Shorties! Here are Today's MadBits: Bitcoin prices remained in the $850 range, with CoinDesk BPI reporting a last of $846, a high of $852 and a low of $839. Litecoin was at $21 dollars and 10 cents a coin. This episode of MadBitcoins is sponsored by Viewers Like You! Special thanks to donors 0.0022308, 0.007 (Bitcoin, James Bitcoin), 0.001 (good to see Double 0 1 checking in as well) and last but not least 0.0012 -- MadBitcoins thanks you for your generous support. 1.) Visa CEO Doesn't See Bitcoin As Business Threat http://www.coindesk.com/visa-ceo-bitcoin-threat/ 2.) FinCEN Declares Bitcoin Miners, Investors Aren't Money Transmitters http://www.coindesk.com/fincen-bitcoin-miners-investors-money-transmitters/ 3.) The United Nations of Bitcoin http://www.businessinsider.com/countries-who-watched-bitcoin-hearings-2014-1 4.) Bittylicious accepts Peercoin and Worldcoin! Sellers wanted! https://bittylicious.com/ 5.) Pose a Pet .net -- now accepts Doge coin http://www.poseapet.net/ Don't forget to tune in TODAY -- LIVE at 3:00 PM PST for The Bitcoin Group -- The Best Minds, the Sharpest Satoshis, The Bitcoin Group -- http://TheBitcoinGroup.com https://twitter.com/thebitcoingroup Buy MadBitcoins Stickers at Orwellia.com: http://www.orwellia.com Subscribe to MadBitcoins with Bitcoins (pay what you want): http://www.madbitcoins.com -------------------------------------------- all the things you ever wanted to know about MadBitcoins: Video Background -- Mondex Design http://www.mondexdesign.com/ Music -- Forstzombie3000 http://www.youtube.com/watch?v=LAzrmyAWOkg Georges Méliès - A Trip to the Moon (Le Voyage dans la Lune) http://en.wikipedia.org/wiki/A_Trip_to_the_Moon MadBitcoins Rotating Coin Graphic by Nym3r1a Bitcoin Price Chart -- Coindesk Bitcoin Price Index (BPI) http://www.coindesk.com/price/ Litecoin Price Provided by: https://btc-e.com/exchange/ltc_usd Donate Bitcoins to MadBitcoins! 1PtAdf3LbwrPfX87dQ8TMuKEzuMUZtg1z1 Other Crypto Currency Donations and More information: http://www.madbitcoins.com * * * * * * * * * * * * * * * * * * * * * * * * Subscribe to MadBitcoins Today! * * * * * * * * * * * * * * * * * * * * * * * *
Views: 1491 MadBitcoins
North Carolina Senate Passes Virtual Currency Bill
Following a majority vote of the North Carolina Senate, the General Assembly of the state has now approved the amendment of a statutory article – the North Carolina Money Transmitters Act. The move will see the term “virtual currency” added to the existing law. Bitcoin exchanges and other industry companies in North Carolina will now be mandated to obtain a money transmitter license following a vote by members of the North Carolina Senate. http://www.altcointoday.com/north-carolina-senate-passes-virtual-currency-bill/ Donate Bitcoin: 18ijbmxHTaeX6d8nQCDnfYyEcGcrZMNv7i
Views: 32 Defango
Cryptocurrency Exchanges Fall Short in Safeguarding Funds: Report
In April 2018, former New York Attorney General Eric Schneiderman sent off inquiries to more than a dozen cryptocurrencyexchanges to learn more about their internal operations. Now, after months of investigation, the New York Attorney Generals office has made its findings public. A report titled Virtual Markets Integrity Initiative, released on Tuesday, September 18, 2018, confirms what many already know to be true: Many cryptocurrency exchanges do not have proper consumer protections in place and are often targets for market manipulation. The questionnaire originally went out to 13 crypto exchanges. Ten voluntarily complied with the study, but four did not respond, arguing they did not serve customers in New York. But, after investigating three of those non-responders Kraken, Binance, and Gate.io the New York Attorney Generals office referred Binance, Gate.io, and Kraken to the Department of Financial Services for potential violation of New Yorks virtual currency regulations. Kraken, the only one of the four based in the U.S., was the most vociferous in its refusal to respond to the inquiry, calling the initial request ill-prepared and an overly broad fishing expedition that asks questions irrelevant to the stated objective and misses obvious questions that actually would be helpful. Report Highlights The report highlights three broad areas of concern. First, exchanges dabble in several lines of business that would normally be carefully monitored in a traditional trading environment. Platforms often simultaneously offer a venue of exchange, perform a role similar to broker-dealers, and act as money transmitters. At the same time, many also have their own large crypto holdings and even issue their own cryptocurrencies. Each role has a markedly different set of incentives, introducing substantial potential for conflicts between the interests of the platform, platform insiders and platform customers, the report states. As an example, the report points out that exchange employees often trade on their own platforms, even though they may have access to information about future trades or upcoming coin listing. Second, the report claims that many exchanges make little or no effort to halt abusive trading activities. Platforms lack robust real-time and historical market surveillance capabilities, like those found in traditional trading venues, to identify and stop suspicious trading patterns, the report says. What is more, there is often no way to monitor suspicious trading across multiple platforms, and few platforms seriously restrict or even monitor the operation of bots, the report states. Those factors, coupled with the concentration of virtual currency in the hands of a relatively small number of major traders, leave the platforms highly susceptible to abuse. Finally, the report argues that safeguards for customers funds are often limited or illusory. Exchanges lack a consistent approach to third-party audits that serve to show that exchanges own the coins or fiat money they claim to hold. That makes it difficult or impossible to confirm whether platforms are responsibly holding their customers virtual assets as claimed. Concerns over market manipulation in cryptocurrency exchanges have been popping up again and again. In thinly traded markets, it becomes very easy for so-called whales or large holders to move the price of bitcoin, or any cryptocurrency, in whatever directly they want. The report comes at a time when the U.S. Justice Department is investigating crypto market manipulation, and the Securities and Exchange Commission (SEC) has rejected numerous bids for bitcoin exchange-traded funds (ETFs) on the basis that cryptocurrency markets are simply too vulnerable to fraud and manipulation. #report #attorney #exchanges #trading #New York
Views: 2 bitcoin news
Grandma Needs License to Transmit Money Order? Bitcoin Assets Seized
What next? Bitcoin assets seized because they have no license to transmit money. Here's Why The Feds Seized Assets From The World's Biggest Bitcoin Exchange http://beforeitsnews.com/banksters/2013/05/heres-why-the-feds-seized-assets-from-the-worlds-biggest-bitcoin-exchange-2433050.html
Views: 692 traitorsbeware
News Updates 2/19
Here's what happened this week in Money & Tech: In the wake of recent Mt. Gox developments, disgruntled trader Kolin Burges flew from London to Tokyo on Friday to confront the Japan-based company behind Mt. Gox, setting up protest outside their Tokyo offices, but receiving no answers. Mt. Gox's response came Saturday, announcing that they have implemented a solution to mitigate any further transaction malleability issues, followed by another announcement on Monday that users will soon be able to make withdrawals again. In similar news, fellow digital currency exchange Bitstamp announced Friday that it would resume Bitcoin withdrawals, which it did the following day, having developed a solution to thwart the same cyber attacks that had caused their own intermission. However, experts agree that a more comprehensive fix still needs to be implemented for the special software used to interact with Bitcoin's core blockchain protocol code, known as the reference implementation. While that shouldn't take more than a week, Bitstamp and others in the Bitcoin community are confident that "the core protocol remains sound" in the meantime. After six months of exhaustive hearings, New York Superintendent of Financial Services Benjamin Lawsky announced Tuesday that they will "likely have to proceed with issuing some form of specially tailored Bit License" to incorporate Bitcoin and other digital currencies into the current money transmitter regulations, which would make New York the first US state to legislate for these cryptocurrencies. Similarly, California state assembly member Roger Dickenson introduced a new bill to the Senate Banking and Finance Committee just the previous week to legalize alternative and digital currencies in California, when "used for the purchase of goods and services or the transmission of payments." The Canadian government also announced Tuesday that they plan to "toughen" rules and regulations "to address emerging risks, including virtual currencies such as Bitcoin, that threaten Canada's international leadership in the fight against money laundering and terrorist financing." Israeli regulators are still undecided about Bitcoin, but that hasn't stopped a new Bitcoin Embassy from forming in Tel Aviv as a haven for new Bitcoin startups, which already totals over two dozen around Israel, combining their strengths in hi-tech fields like cryptography, fraud prevention, and semiconductors. Silk Road 2 administrator "Defcon" posted on Thursday that the reincarnated online black market was hacked and emptied out of its escrow account of over 4,400 Bitcoin, worth roughly $2.6 million dollars. Defcon then followed up with another post Sunday promising to pay back all $2.6 million in Bitcoin stolen from their customers and vendors, pledging that "This leadership and this community will not stop until you are completely repaid." In similar news, Kickstarter has issued their own apology after hackers acquired some of their users' personal information on Wednesday, including phone numbers, mailing and email addresses, user names, and encrypted passwords. However, CEO Yancey Strickler insisted that "No credit card data of any kind was accessed by hackers" and that there was no "unauthorized activity of any kind on all but two Kickstarter user accounts." Since the hack, the company has improved their security measures and are working with law enforcement closely. A new alt coin called SolarCoin has been created to promote the use of solar energy, and will be earned by exchanging 1 SolarCoin for every megawatt hour of solar-powered electricity generated back to the grid. Another digital currency NoFiatCoin (XNF) has emerged in Germany, this time backed by silver and gold coins as a more trustworthy, sophisticated version of e-gold. As founder Robert Reyes put it, "If everything else collapses, precious metals will still have value, which is why we are different." NoFiatCoin can be bought with U.S. dollars through Bitstamp, or exchanged for Bitcoins through the Ripple open payment system. Then when you want to cash out, you will be physically mailed the current value in silver and gold coins. The original creator of Mt. Gox Jed McCaleb has announced his next endeavor, inviting alpha testers to join him on a secret Bitcoin project "building something that will be better for Bitcoin and better for you." The little information currently available can be found at secretbitcoinproject.com. Watch on the Money & Tech website at http://www.moneyandtech.com/feb19-news-update/
Views: 149 Money & Tech
California Approves Regulations on Bitcoin.
The California State Assembly approves AB1326. Calling for Bitcoin companies to be watched over by the government. The bill will require digital businesses to obtain a annual license from the Department of Business Oversight.
Views: 311 Money & Tech
Exclusive: Bitcoin promoter to plead guilty to unlicensed money transmission
For more Latest and Breaking News Headlines SUBSCRIBE to https://www.youtube.com/user/SuperNewsPlanet Bitcoin entrepreneur Charlie Shrem has reached a plea deal to resolve U.S. charges that he engaged in a scheme to sell over $1 million of the digital currency to users of illicit online marketplace Silk Road, his lawyer said Friday.Shrem, the former vice chairman of the Bitcoin Foundation, will plead guilty next Thursday in New York federal court to unlicensed money transmission, Marc Agnifilo, his lawyer told Reuters in an email.Prosecutors had previously charged Shrem with operating an unlicensed money transmitting business, money laundering conspiracy and failing to file suspicious activity reports with government banking authorities.Federal authorities shut down Silk Road last year, though a new Internet marketplace under the same name was launched in November. Prosecutors contend Silk Road enabled users to buy and sell illegal drugs and other illicit goods and services.Soon after his arrest in January, Shrem stepped down from his role at the Bitcoin Foundation, a well-known trade group. He was previously CEO of BitInstant, a bitcoin exchange company.A notice of a plea hearing in the case of Shrem and his co-defendant, Robert Faiella, was included in a calendar distributed by court officials earlier Friday.It was not immediately clear if Faiella, a Florida man who faced similar charges as Shrem, will plead guilty or move ahead with trial Sept. 22. He has previously pleaded not guilty.But Faiella, 54, is expected to fly to New York for the hearing, according to a court order filed Friday.A lawyer for Faiella did not respond to requests for comment. A spokesman for Manhattan U.S. Attorney Preet Bharara declined comment.Prosecutors are pursuing a separate case against Ross William Ulbricht, the man accused of creating and operating Silk Road under the name "Dread Pirate Roberts." He is set to face trial Nov. 3.The case is U.S. v. Faiella, U.S. District Court, Southern District of New York, No. 14-cr-00243. TAGS abc breaking news, bbc, bbc football, bbc iplayer, bbc news, bbc news america, bbc persian, bbc sport, bbc weather, bbc world news, breaking celebrity news, breaking election news, breaking late news, breaking local news, breaking music news, breaking news, breaking news alerts, breaking news canada, breaking news headlines, breaking news in atlanta, breaking news in nigeria, breaking news india, breaking news pensacola florida, breaking news plane crash, breaking news story, breaking sports news, business expensive news home media world, christian world news, cnn, cnn breaking news, cnn money, cnn news, cnn news breaking news, cnn news world, detroit breaking news, global news, headline, headline news, health care technology news, hot latest global news, internet technology news, las vegas breaking news, latest breaking news, latest celebrity news, latest information technology news, latest music news, latest news, latest news headlines, latest news update, latest sports news, live breaking news, local breaking news, local news today, msn breaking news, nbc breaking news, nbc world news, news of the world, news report us world, news today news, news updated daily, solar technology news, sports news today, technology news, the latest news, today news, us news and world, us news and world report, us news and world report magazine, us news and world report web site, us news world report, world news, world news daily, world news headlines http://www.makemeitexpert.com http://www.amwaynutrilitedaily.com Application Packaging And SCCM Training http://appinfotechnology.blogspot.in/
Views: 72 Super News Planet
SEC Concludes ICO's are Securities - MUST WATCH - Cryptocurrency News
Check out my website: http://www.cryptomarketinvestments.com/ Join my discord channel for daily updates: https://discord.gg/ataWVp3 Get started investing here with Bitcoin and Ethereum: https://www.coinbase.com/join/568594103a19051e30000366 View your holdings and plot charts using this link, on coinigy: https://www.coinigy.com/?r=f919892d Donations are not expected by any means but highly appreciated! BTC: 16cZRNkQkMDJ5h9QyjtLeKSfq28DvRvHvw ETH: 0x0770DeD44c91C4B21aa69BB0443a37a191A5d84f STEEM: clayford08
Views: 2032 Crypto Clay
Bitcoin Foundation is Wrong! BitcoinLaw - "FinCEN and BitCoin Miners"
FinCEN released Guidance on March 18, 2013 regarding BSA Regulations to Virtual Currencies. The Bitcoin Foundation issued guidance on March 19, 2013 to the Bitcoin community in s response to FinCEN. Bose Law Firm disagrees with the Bitcoin Foundation in its interpretation of the Guidance to cover miners of bitcoins and other decentralized virtual currencies who mine such coins and convert them for personal use. Bose Law Firm, PLLC. 703-926-3900. http://www.bitcoinlitigation.com http://www.boselawfirm.com http://www.bitcoinfoundation.org http://www.bitinstant.com http://www.fincen.gov/statutes_regs/guidance/pdf/FIN-2013-G001.pdf
Blockchain, Crypto & the Law - Adella Toulon Foerster
Nexus Embassy Conference 2017 at the Aspen Meadows, home of the Aspen Institute. Blockchain, Crypto & the Law - Adella Toulon Foerster and Jason Seibert with Cogent Law Group, LLP discuss Blockchain, Crypto and the Law. Like crypto-currencies themselves, Adella Toulon-Foerster lives in the intersection of technology, finance, law, and entrepreneurship. Adella co-founded a consultancy in 2001 which built online gold-based payment systems, providing her with uniquely long-term experience and perspective on alternative financial systems. She has guest lectured at the University of South Carolina, given testimony for a United Nations committee, and presented at conferences around the world. She is the co-founder of the Caribbean Blockchain Association, Senior Research Fellow at the Financial Technology Institute at New World University, and she serves as an editor of Ledger, the premier University of Pittsburgh peer-reviewed scholarly journal covering the crypto-currency space. She has worked, invested and advised start-ups in the crypto space for almost a decade. Adella holds two degrees in law, for which she wrote dissertations on international financial centers and on the impact of Bitcoin on traditional banking systems. Her present focus is on financial regulations, compliance programs, money transmitter laws, ICOs, Crypto hedge funds, FinCen requirements and guidance, and helping startups in the crypto-currency space successfully navigate those ever-changing regulations so they can reach their goals. Adella is the Director of the FinTECH law practice at the Cogent Law Group, LLP in Washington, DC and is working on the launch of the first ever crypto-currency Incubator on the east coast.
Views: 792 Nexus Earth
Why U.S Restrictions on ICOs and Exchanges Is Likely
The U.S Senate met on February 6th to discuss "virtual currencies" such as Bitcoin. Many interpreted this meeting as bullish for Bitcoin and other cryptocurrencies, primarily off the back of CFTC Chair Giancarlo's testimony and the idea of a "thoughtful regulatory approach." Steemit Post: https://steemit.com/cryptocurrency/@cryptovestor/why-u-s-restrictions-on-icos-and-exchanges-is-likely While many caught onto the theme that ICOs were not liked by anyone, I think many didn't logically take it to the next step. If all ICOs are securities, aren't many altcoins as well? And if they are, what becomes of exchanges that enable the trading of these altcoins? It was mentioned many times at the hearing that exchanges weren't adequately regulated due to state-specific legislation and the idea that money transmitter licenses weren't designed for such secondary market trading. There were other red flags as well, such as the idea of escalating Bitcoin to FSOC as a systemic risk or that the principle idea behind Bitcoin is to replace the U.S dollar which is NOT how we want regulators to view Bitcoin as they will see it as a much bigger threat. Another important detail that many seemed to ignore was that the focus of the meeting seemed to be on how blockchain was valuable, but cryptocurrencies weren't. The only people who seemed to argue against this idea was CFTC Chair Giancarlo and Senator Warren. Instead, the focus was on how blockchain technology could help regulators do their jobs through increased transparency of data. This usually is a fancy way of saying "more power to government and less privacy." It begins with good intentions, but that's usually what it devolves to. All in all, there were many details most chose to ignore from the hearing that I wish were discussed more. There were obviously some bullish elements to it as well, but they have been discussed to death in media and hence I've chosen not to cover them. I hope that we do see a "thoughtful regulatory approach," but it appears a bumpy road ahead is likely. ================ If you like my content, you can support me through using ANY of the affiliate links below (I receive small compensation). The beauty of affiliate links is that I can pick and choose what I like rather than have companies approach me - everything I linked below (with the exception of Trezor since I like Ledger), I use myself frequently. ================ My Recommended Hardware Wallets: If you want to store your cryptocurrencies safely, the best way is through a hardware wallet. Seriously - look it up and you'll find plenty of information supporting this claim. There are alternatives such as paper wallets, but these are convenient and my choice for cold storage (offline): Ledger Nano S: http://amzn.to/2hZPj0q Trezor: http://amzn.to/2AxD9TN Ledger Blue (expensive): http://amzn.to/2hk7xst I personally prefer the Ledger Nano S, but the Trezor is such a close second that it really doesn't matter which one you go with. Ledger Blue is premium and convenient, but not necessary. ================ My Favorite Book for Investing in Crypto: Cryptoassets: http://amzn.to/2zKDdCF This book is, bar none, my favorite book for investing in cryptocurrencies. It doesn't bog you down with technical jargon, but instead focuses on all the elements you should understand before you invest. It's a comprehensive book for both beginners and experts. Beginners will find information about major cryptocurrencies (not just Bitcoin) as well as details on historical market events (that you can draw on for future) and events to watch for moving into the future. Experts will find the chapters on valuation particularly useful. For those of you involved in traditional investing, this book is even more of a godsend as finance info is explored (correlations with other asset classes, ETFs, etc). ================ My Recommended Exchanges: Coinbase / GDAX / Bittrex https://www.coinbase.com/join/5a08b12e305a1401d79d10e0 If you sign up to Coinbase using link above, you and I will both receive $10 each after you buy your first $100 of Bitcoin using Coinbase. Coinbase is much less intimidating for beginners. Once ready, move up to GDAX for cheaper or zero fees. For altcoins, I recommend Bittrex. ================ Legal Stuff: I am a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for me to earn fees by linking to Amazon.com and affiliated sites. None of what I provide in my videos is investment advice. Please do your own due diligence. ================ My Platforms: Twitter: https://twitter.com/Truth_Investor SteemIt: https://steemit.com/@cryptovestor Medium: https://medium.com/@Truth_Investor Seeking Alpha: https://seekingalpha.com/author/truth-investor/articles
Views: 35430 Crypto Investor
Fear and regulation in the cryptocurrency / blockchain / bitcoin / ICO space
Mark Manney discusses fear and regulation in the emerging Web 3.0 economy. Mark is the creator of "I am" by Infobeing (www.infobeing.com). Token Launch November 23rd, 2017.
Views: 75 Belove
PNN #151 DC Phantom Planter Faces Jailtime
PNN #151 Show Notes http://bit.ly/12UUah2 http://WeUseCoins.com Metro Rips Out Phantom Planters Flowers at Dupont Circle Station http://www.washingtonpost.com/local/metro-rips-out-phantom-planters-flowers-at-dupont-circle-station/2013/07/06/4220cef4-e5ce-11e2-80eb-3145e2994a55_story.html Female Inmates Sterilized in CA Prisons http://intellihub.com/2013/07/08/female-inmates-sterilized-in-california-prisons/ ...Dr Defends... http://www.lifesitenews.com/news/doctor-defends-illegal-sterilizations-of-female-inmates-in-california-it-sa UK Bitcoin Exchanges Do Not Have To Register with Gov http://www.coindesk.com/hmrc-uk-bitcoin-exchanges-dont-have-to-register-under-money-laundering-regulations/ (Netherlands, UK, Canada) Costa Rica Accidentally Legalizes Gay Marriage http://www.independent.co.uk/news/world/americas/costa-rica-accidentally-legalises-gay-marriage-8691185.html Washington DC man Henry Docter, age 52, calls himself the Phantom Planter. Last month, he took it upon himself to plant Morning Glories, Cardinal Flowers, and Cypress Vines at the Dupont Metro North Station. He planted over 1000 flowers than would bloom red, white, and blue from August to October. But, instead of greenery today and colors to come, the boxes along the escalators at the station now feature dirt, a few straggling stems and the occasional discarded soda can. The Phantom Planter said, quote "It never occurred to me that Metro would think it was more efficient to rip out the plants than to let someone water them." Apparently, despite living in Washington, DC, the planter has no understanding of how government works. Just weeks ago, Michael McBride, the manager of Metro's Art in Transit Program, said, quote "We want to meet with the community and see what the community would like. We will move forward with their wishes, as long as they are reasonable, sustainable and safe." No meetings have taken place since then. Metro tore out the foliage without waiting to solicit the neighborhood's opinion, as it said it had planned to do. Docter has engaged in stealth gardening in public places for more than three decades. He describes his work as performance art. He went public about it for the first time last month after the government formally threatened to arrest and jail him if he watered, weeded or otherwise cared for the flowers he'd planted. A Web petition defending him has attracted more than 3,600 signatures. Docter said, "The fact is, not all performance pieces end in comedy. The flowers have been uprooted, but the memory of the gift remains in our brain, and that's something that no bureaucrat . . . can ever take away." The Center for Investigative Reporting has found that Doctors under contract with the California Department of Corrections and Rehabilitation sterilized nearly 150 female inmates from 2006 to 2010, without required state approvals. In violation of prison rules, at least 148 women received tubal ligations during those five years -- and there are perhaps 100 more, dating back to the late 1990s, according to state documents and interviews. Dr. James Heinrich, who acted as obstetrician at Valley State, actually said that rendering unwilling inmates unable to procreate, was a good thing, because it saved the state money on welfare. Gay marriage is already legal in over a dozen countries worldwide, but Costa Rica may set the remarkable precedent yet -- by being the first to allow same-sex unions by mistake. This week, the Costa Rican Legislative Assembly voted for a change to its "Law of Young People", which covers social services and marriage laws. It was only once the bill had passed, did unwitting conservative lawmakers realise, that their liberal counterparts had inserted language, that could open the door to civil unions for gay couples. Bitcoin exchanges operating in the UK do not have to register with the government under money laundering regulations. Agents of the British government suggested they are keeping a close eye on bitcoin and said they may decide to change their stance in the future on how the digital currency is regulated. Meanwhile, in the US, the Department of Financial Institutions in California is charging the Bitcoin Foundation for operating as a money transmitter, which the Foundation denies. Read their formal response in the show notes. This means Bitcoin will not be regulated in Canada, the Netherlands, and now the UK. Learn more about Bitcoin at WeUseCoins.com This episode made possible in part by friends of Blockchain.info. Try the free bitcoin wallet at Blockchain.info. Subscribe at Youtube.com/PeaceNewsNow and watch us on the Next News Network. For Peace News Now, I'm Derrick J, reminding you that Peace is the way! http://WeUseCoins.com http://PeaceNewsNow.com http://twitter.com/PeaceNewsNow [email protected] Donate: 1PeaceUVNF3zoFXjMPoTN6S3ssDrhgxTEJ
Views: 264 Peace News Now
The Legal and Regulatory Environment of Cryptocurrencies
On February 5, the Richard Paul Richman Center for Business, Law, and Public Policy hosted Regulating Cryptocurrencies: The Future of Bitcoin, Ether, and Other Tokens. The discussion brought together Columbia's own fintech expert R.A. Farrokhnia; Commissioner Brian Quintenz of the Commodity Futures Trading Commission (CFTC); as well as Gary DeWaal and Lee Schneider, leading legal experts on blockchain at ‎Katten Muchin Rosenman LLP and McDermott Will & Emery, respectively. In this video, 2 of 3, Brian Quintenz, Lee Schneider, and Gary DeWaal discuss pressing issues facing users, regulators, and gatekeepers of cryptocurrencies. For more content from the Richman Center, visit https://www8.gsb.columbia.edu/richman/
Crypto news: FIrst crypto bank, 15k fake bots and crypto giveaways on Twitter,  and more.
Please feel free to listen to our podcasts on Soundcloud and iTunes for your convenience. Soundcloud: https://soundcloud.com/cryptoonetv iTunes Podcast: https://apple.co/2LwdrnY Follow the links in the description to read more about the news mentioned in this video: Main news: https://cointelegraph.com/news/no-coffee-for-bitcoin-starbucks-clarifies-as-media-misrepresent-its-new-crypto-venture and https://www.ccn.com/starbucks-clarifies-coffee-for-bitcoin-media-reports/ https://cointelegraph.com/news/coinbase-returns-to-wyoming-after-successfully-renewing-money-transmitter-license https://cointelegraph.com/news/researchers-reveal-network-of-15k-crypto-related-scam-bots-on-twitter Blitz news: https://www.ccn.com/ethereum-classic-jumps-10-on-a-day-of-crypto-markets-retreat/ and https://www.ccn.com/ethereum-classic-becomes-the-6th-cryptocurrency-listed-on-robinhood-crypto/ https://www.ccn.com/multi-billion-dollar-idea-australian-tech-entrepreneur-plans-crypto-bank-launch/ https://www.ccn.com/indian-state-government-launches-countrys-first-blockchain-district/ https://www.coindesk.com/japanese-crypto-exchanges-file-to-form-self-regulatory-organization/ Upcoming ICO https://www.pavocoin.com https://www.silkchain.io https://path.network Crypto Events: https://www.442.travel/bcs https://www.eventbrite.com/e/blockchain-bitcoin-was-just-the-beginning-tickets-48608726008?aff=es2 and http://www.mileoneinc.com https://www.thetokenforum.com/ Rates: https://coinmarketcap.com/ru/gainers-losers/ https://coinmarketcap.com/ Subscribe to CryptoOneTV: https://www.youtube.com/channel/UC98RRbgMMAJ_T50TaUCw1sA/?sub_confirmation=1 Follow CryptoOneTV: Twitter: https://twitter.com/cryptoonetv Facebook: https://www.facebook.com/cryptoonetv Telegram: https://t.me/cryptoonetv Soundcloud: https://soundcloud.com/cryptoonetv iTunes Podcast: https://apple.co/2LwdrnY BitcoinTalk: http://bit.ly/2LPKB29
8/4/14 - Xapo faces criticism, Russia & Kyrgyzstan ban Bitcoin, & Curecoin takes on cancer
http://moneyandtech.com/Aug-4-news-update/ Bitcoin wallet provider Xapo began shipping out its much-anticipated debit cards on Thursday, and immediately began receiving negative backlash from the community, disgruntled with the unexpectedly high accompanying fees and limits. When first announced, Xapo disclosed only a one-time $15 dollar shipping and handling fee. Upon release of the cards, Xapo then updated its fees information to include a monthly $4.95 service fee, plus $1 dollar declined transactions costs, and added fees for domestic and international ATM transactions - which were met with a great degree of frustration from customers who had signed up with the expectation of only the one-time $15 dollar fee. No word has been heard yet on the reason for these additional fees, or what will happen next. But Xapo is expected to publish a blog statement soon addressing these concerns, so we will update you as we know more. Online cryptocurrency platform and wallet MyBigCoin.com announced on Friday plans to go public and seek to file for an IPO, joining a very exclusive club with the few digital currency-centric companies that are publicly held. The company hopes to gain approval for their IPO within the next sixty days, which their consensus statement says ""would help further their operational objectives, while lending further credibility to the company's proprietary digital currency system."" This is a big step forward for the digital currency community, as more and more companies seek to gain legitimacy and respect among consumers, peers, and the more traditional worlds of finance and investment. The Russian Ministry of Finance is reportedly preparing a bill that will officially ban cryptocurrencies, after a draft of the bill was released by major Russian publication Ria Novosti on Friday. According to the report, the new bill will prohibit any money substitutes or ""surrogates"" to the Russian ruble which would “infringe the rights of conscientious people”, and would include digital currencies such as Bitcoin. In addition, the Ria Novosti report revealed that “the Finance Ministry proposes to introduce administrative or criminal responsibility for the production and implementation of monetary surrogates operations with them, and to restrict access to information resources, providing production and operations with surrogates.” If implemented, as suspected, the end of this year or early 2015, this bill could put a serious damper on the digital currency community in Russia, and any progress which could have otherwise had a potentially positive impact on the country’s economic situation. The central bank of Kyrgyzstan has issued new statements reiterating the national law that all use of bitcoin and other digital currencies as a form of payment is currently illegal. The statements specifies that “Under the legislation of the Kyrgyz Republic, the sole legal tender on the territory of our country is the national currency of Kyrgyzstan som. The use of ‘virtual currency’, bitcoins, in particular, as a means of payment in the Kyrgyz Republic will be a violation of the law of our state,” then going on to warn of bitcoin's risks, including “the lack of security,” “high risks of exchange rate volatility and loss of value,” and “no guarantee of refund.” The Bitcoin Foundation has filed an amicus brief formally expressing their strong viewpoint in the matter of the Florida state criminal case of LocalBitcoins.com user Pascal Reid, who faces charges of operating an unauthorized money transmission business and money laundering. In their filing, the Foundation requested that Reid's charges as an unauthorized money transmitter be dismissed, given that he was operating as an individual, not as a corporate entity, and a money transmitter is defined as “a corporation, limited liability company, limited liability partnership or foreign entity qualified to do business in the state”. However, the filing was not intended to support the defendant and his actions, but rather to ensure that the broader Florida bitcoin community is not unduly restricted in their ability to transact with the digital currency as a result. As Global Policy Counsel Jim Harper put it, “The case illustrates the need for clarity in bitcoin regulation, both civil and criminal, and that’s a reason why we participated.”
Views: 386 Money & Tech