TutorTeddy - Free College Homework Help and Statlance - Statistics Help Postponing Doing Business Using Bitcoin or Litecoin Due to Unclear Regulations
TutorTeddy's market survey revealed that college students are quite excited about using the Bitcoin or other crypto or digital currencies to meet their various needs like getting help for homework.
However, during the hearing in New York last month by Benjamin Lawsky, Superintendent of New York State Department of Financial Services, it became clear that regulations are not defined enough for businesses like TutorTeddy to accept them right now.
TutorTeddy will continue to monitor development and recommendations of a task force set up for regulating crypto or digital currency ( "State Regulators Form Task Force to Study Changing Landscape in Payment Systems." State Regulators Form Task Force to Study Changing Landscape in Payment Systems. Conference of State Bank Supervisors, 20 Feb. 2014. Web. 20 Feb. 2014. http://www.csbs.org/news/press-releases/pr2014/Pages/pr-022014.aspx. )
The Task Force includes the following regulators from nine states:
- David J. Cotney, Commissioner of Massachusetts Division of Banks
- Jan Lynn Owen, Commissioner of California Department of Business Oversight
- Drew J. Breakspear, Commissioner of Florida Office of Financial Regulation
- Kevin B. Hagler, Commissioner of Georgia Department of Banking and Finance
- Benjamin Lawsky, Superintendent of New York State Department of Financial Services
- Greg Gonzales, Commissioner of Tennessee Department of Financial Institutions
- Charles G. Cooper, Commissioner of Texas Department of Banking
- G. Edward Leary, Commissioner of Utah Department of Financial Institutions
- Scott Jarvis, Director of Washington Department of Financial Institutions
As soon as TutorTeddy gets some comprehensive guidance from the states and federal regulators, they will come on board to make their accounting help (http://tutorteddy.com/free_accounting_homework_help.php) or Finance help (http://tutorteddy.com/free_finance_homework_help.php) or Statistics help (http://tutorteddy.com/site/free_statistics_help.php) customers able to pay using Bitcoin, Litecoin or other crypto currencies.
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