Senate recognizes legitimate benefits of Bitcoin
Both the DOJ and the SEC have told a US Senate committee hearing that Bitcoin represents a legitimate financial instrument, delighting investors and speculators at the idea of wider acceptance from the mainstream. Their comments came ahead of a hearing called by the US Senate Committee on Homeland Security and Governmental Affairs to look into the potential of digital currencies, and the risks they may pose. This just a month after the FBI shut down the Silk Road, an unregulated online marketplace that become the go-to website for anyone seeking mail-order drugs. Silk Road payments were....
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A bill aimed at getting the state of Utah to accept bitcoin for states services passes its first reading in the Senate. The bill has now passed its first Senate reading having already passed through the House of Representatives with a slim majority of 38 Yes votes against 36 No's. Utah state representative Marc K. Roberts introduced the proposal, Bill H.C.R 6, to the Clerk of the House of Representatives on February 10. “THEREFORE, BE IT RESOLVED that the Legislature of the state of Utah, and the Governor concurring therein, recognizes the potential benefits that could come from the....
The reports of the United States Department of Homeland Security, provided for the hearing of the US Senate Committee on this Monday has a wide range of positive opinions. They concluded that digital currency is a legitimate financial instrument, and its widespread use has significant benefits for consumers. Opinion of state agencies considerably increases the chances of official recognition by the authorities of digital currency. According to their written agency representatives reports published this week – digital money offer real benefits and carry some risks as any other payment....
The current chairman of the US Commodity Futures Trading Commission (CFTC), Timothy Massad, will likely step down early next year. While he recognizes the potential benefits of blockchain technology, his replacement may be even more pro-blockchains. Massad Sees Blockchain’s Benefits. “The innovations that may be created through financial technology such....
As announced last week, the French Senate met today in Paris to hold a hearing on bitcoin, it's benefits, and it's downsides. Reddit.com user 'mmitech' took the opportunity to post notes about what took place at the meeting the meeting here. According to the user's bullet points, it would appear as if the French government is keen to "catch up" with bitcoin. They don't clearly understand it yet, nor do they know how they'll regulate it, but they've recognized at this juncture that banning the digital currency is not an option. Overall, the French Senate's outlook on bitcoin seemed....
“I think we need to look closely at how to encourage their use for legitimate activities while curtailing their use for malign and illegal activities,” Janet Yellen wrote.