Proposed Italian Amendment Could Block Bitcoin Transactions Exceeding €1,000 By Treating it Like Cash
An parliament member in Italy — Sergio Boccadutri — posted a proposed Italian amendment (see his tweet) that would treat bitcoin like cash. Using cash in the country has a cap of €1,000, and it would be no different with bitcoin. The point? Get bitcoin recognized as a legitimate currency. In addition, this would make sure that businesses accepting bitcoin complied with the country’s anti-money laundering legislation (which again, calls for transactions no larger than the above amount). In addition to the amendment, Boccadutri, in partnership with CashlessWay will be holding an event on....
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Perianne Boring, the founder and president of the Digital Chamber of Commerce, provided details about the proposed amendment Saturday afternoon. United States senators Mark Warner and Kyrsten Sinema, both Democrats from Virginia and Arizona, respectively, have introduced a new amendment to the infrastructure bill that would lessen the burden on cryptocurrency tax reporting for miners and wallet providers. As Perianne Boring reported Saturday afternoon, the senators are endorsing an amendment that would exclude cryptocurrency miners and hardware and software wallet providers from being....
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Italy has made first step towards Bitcoin by implementing the same regulations as they do to cash. Italians just love cash. There are about 7 million people in Italy, who do not have the bank account and by that I mean that they had never had one. At the same time however, the number of population that downloaded bitcoin wallet places Italy 12th among other countries and this is only what can be traced. Although, on the general technological front Italy is far from the techy countries in EU. That probably is due to distrust to digital means of managing money and as we know, that kind of....