Minnesota Commerce Commissioner Mike Rothman Warns About Bitcoin
Warnings against the usage of Bitcoin are nothing new in the for Bitcoin enthusiasts, and the recent statement by the Minnesota Commerce Commissioner is not mentioning anything the world hasn’t heard before. The recent “manhunt” to identify Satoshi Nakamoto – the creator of Bitcoin and blockchain technology – showcased the popular digital currency’s mystery aspect. That doesn’t mean Bitcoin buyers should be worried about anything just yet, though. There is no denying Bitcoin is gaining popularity in recent months, which is catching the attention of government officials all over the world.....
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Minnesota's commerce commissioner has warned consumers in his state to be wary of bitcoin despite no reported bitcoin-related problems, according to Minneapolis The Star Tribune. The warning marks the third U. S. state regulator in a month to issue such a warning. Mike Rothman, the Minnesota commissioner, acknowledged that legitimate businesses are using bitcoin and developing legitimate uses for it to buy and sell goods. He also says there are no reports in Minnesota of consumers being scammed with bitcoin. He nonetheless warns there is a dark side to bitcoin and since it's not backed by....
Minnesota lawmakers are weighing a proposal that would prohibit Bitcoin (BTC) and other cryptocurrency kiosks across the state, as concerns mount over the role the machines play in financial scams. According to a CBS report, members of the Minnesota House Commerce Finance and Policy Committee took up the issue Thursday after DFL Rep. Erin Koegel, […]
Now that Bitcoin is gaining more popularity all over the world; the time has come – once again – for central banks to warn about the potential dangers of digital currency. Just a few days ago, a similar warning was issued by the Minnesota Commerce Commissioner. But this time, it’s the central bank of Kenya issuing a statement on trading or holding Bitcoin and other virtual currencies. Similar to how most central banks in the world would respond, Kenya’s central bank is not a big fan of the “dangers” represented by Bitcoin and other digital currencies. Bitcoin is not regulated in Kenya at....
U.S. Senator Mike Lee has raised concerns that adopting the crypto tax provision in the $1.2 trillion infrastructure bill will stifle innovation and make Americans poorer. He explained that cryptocurrencies are not like securities and cannot be regulated with the same policies, noting that to do so would drive innovation offshore. Senator Mike Lee Warns Passing Unproven Legislation Will Stifle Innovation While outlining concerns he has about numerous provisions in the $1.2 trillion infrastructure bill during the Senate session Saturday, U.S. Senator Mike Lee from Utah drew attention to the....
A commissioner with the U.S. Securities and Exchange Commission (SEC) has warned that the securities market regulator has dropped the ball on crypto regulation. “We’re not allowing innovation to develop and experimentation to happen in a healthy way, and there are long-term consequences of that failure,” said the commissioner.
SEC Commissioner Warns About the ‘Failure’ of Crypto Regulation
SEC Commissioner Hester Peirce expressed concerns that the U.S. has dropped the ball on the regulation of cryptocurrencies in an interview with CNBC on the....