Italian Amendment Would Treat Bitcoin Like Cash
Italian Parliament member Sergio Boccadutri took to Twitter yesterday to reveal an amendment to a proposed law that would define bitcoin and initiate a process to recognise and regulate the cryptocurrency. The amendment, an addendum to a larger budget proposal called Destination Italy, would seek to trace bitcoin transactions exceeding €1,000 by requiring the identification of the sender in such exchanges. The move would also bring bitcoin transactions in compliance with the nation's anti-money laundering laws, and calls for the Bank of Italy to propose a method of enacting the measure....
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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....
The fourth annual No Cash Day, a digital payment awareness initiative started by Italian lobbying group Cashless Way, took place in Rome on 27th June, with this year's event placing a special emphasis on bitcoin and its related technologies. No Cash Day found Cashless Way organising the second of two discussions on bitcoin that took place in Italy's House of Parliament this June, with the most recent including notable community members such as Robocoin CEO Jordan Kelley and Italian parliament member Sergio Boccadutri, who also served as the event's promoter. Boccadutri has been....
Snoop Dogg was touring in support of his new album, "Bush." Click photo to learn where to buy his album for Bitcoin. The rapper, actor and record producer Snoop Dogg was arrested by Italian authorities at the Lamezia Terme airport with $422,000 in cash stuffed inside of pieces of luggage. The Guardia di Finanza confiscated half of the money based on the money laundering legislation. The 43-year-old rapper, whose real name is Calvin Cordozar Broadus Jr., was on his way to England with the cash in Louis Vuitton luggage, according to an Italian lawyer who represents the entertainer. The....
Legislators are now preparing to welcome BitcoinThe General Assembly of the State of Illinois has announced that it has held a hearing regarding the role of virtual currencies and this meeting included a proposed amendment to Illinois's Transmitters of Money Act. Elizabeth Hernandez, the Democratic representative for area 24 in the Illinois House of Representatives, introduced an amendment to the state's Transmitters of Money Act seeking to clarify the role of cryptocurrencies, and their use, throughout the state. The Financial Institutions Committee hearing took place at 3.30 p.m on....
The White House has endorsed an amendment to the $1 trillion Infrastructure bill that supports proof-of-work over all other consensus mechanisms. However, the crypto community is supporting a different amendment. White House Takes Stance on Infrastructure Bill’s Crypto Tax Amendment The White House has endorsed an amendment to the Infrastructure bill sponsored by Senators Mark Warner, Rob Portman, and Kyrsten Sinema who drafted the original tax provision. This amendment competes with another introduced a day prior that has gained much support from the crypto community. It was....