New Report Challenges Canada’s BTC Regulations, Finance Dept Memo
Anyone who remembers the movie “Reefer Madness” understands that sometimes government warnings are exaggerated. According to the classic anti-marijuana movie a simple puff on a marijuana cigarette would turn an innocent person into a homicidal maniac. This movie was almost 80 years ago but we can see the same tactic being used today with respect to cryptocurrencies. Before Canada become one of the first countries to regulate Bitcoin, its Finance Department issued a memo back in May 2013 prepared for former finance minister Jim Flaherty, saying that the digital currency has raised flags....
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A newly-released memorandum dating back to May 2013 (and obtained via the Canadian Access to Intermation Act) originating at the Canadian Finance Department suggests that bitcoin and digital currencies could serve as "an attractive payment method for criminals," The Canadian Press reports. The internal memo was said to have been prepared for now-deceased finance minister Mr. Jim Flaherty, and while it makes no indication as to what the levels of abuse are, it does make clear that bitcoin can be used for illicit purposed. Sound familiar? That's because cash can be used for these purposes,....
An internal JPMorgan memo reveals that the lender plans to invest $9 billion in technology like robotics and the blockchain, according to Business Insider, which claims to have seen the memo. Daniel Pinto, the head of JPMorgan’s corporate and investment bank, sent the memo, which claims a major priority is to pursue innovative technologies in which they have been investing. Internal working groups have made “significant advances” and will receive additional freedom to create marketing leading platforms in the next year, the memo states. JPMorgan also has established teams for robotics,....
An anonymous Reddit user who self-identifies as bank employee posted a warning saying that his bank received a memo from the national financial institute, with instructions to report anyone who receives more than €1,000 that may be linked to Bitcoin. The five-page memo outlines how surveillance works, how the network is monitored and says that some bitcoin exchanges have been unwilling to cooperate with the authorities. The memo is accompanied by a report, issued by E. U. law enforcement agency Europol, stating that 84 accounts in the country (which hasn't been disclosed) have been flagged....
A new report on Bitcoin regulations in Canada, claims that sweeping legislative efforts should hold still. The report concedes that regulations are necessary, but determined that new legislative measures would be excessive. Canada’s traditional laws already address criminal activities, they found. Bitcoin runs frequently runs into this problem. Legislators are often tempted to support heavy-handed regulations—stricter than the laws already in place. This is partly to purge illicit activity: money laundering, drug purchases, and fraud associated with the new payment method. But they fail to....
The crypto space is abuzz with renewed interest as prominent pro-XRP lawyer and enthusiast, John E. Deaton revealed the existence of an undisclosed XRP memo from years ago. Long-Hidden SEC Memo Unveiled To The Public On August 27, lawyer and digital analyst, Bill Morgan replied to a comment made by a fellow X user, Sandy […]