New York Bitcoin Hearing Features Troubling Regulatory View
Mister Bitcoin gets sworn in at the New York Bitcoin hearings. Most of the Bitcoin hearings held by various governments around the world have been rather boring, but yesterday's New York Bitcoin hearing actually offered something different. These hearings usually consist of Bitcoin entrepreneurs and specialists advising regulators on what they should do to foster Bitcoin-related innovation in the local country, but the regulators will usually reply simply with, "9/11." Up to this point, it's pretty much been Bitcoin experts talking to a brick wall that doesn't want to share much about its....
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View the full video of the Senate Homeland Security and Governmental Affairs Committee hearing on virtual currencies here. Don't bother running from regulation, said an influential agency director at a key government hearing on Monday 18th November - because in the long term, there's nowhere to hide. FinCEN director Jennifer Shasky Calvery warned virtual currency companies against fleeing US shores in the hope of more lenient regulatory frameworks elsewhere. "If business is going to leave the United States based on perceived or actual regulatory burden, I always believe that they're going....
Read CoinDesk's report on the first day of the hearing here. Read CoinDesk's report on the second day of the hearing here. Read VC Fred Wilson's reaction from attending the hearing. Read a roundup of the community's reaction to the hearings. You can watch the full video from both days here. Stay tuned to CoinDesk for more updates on developments, and be sure to follow us on Twitter for live tweets of bitcoin events. The New York Department of Financial Services is shortly to begin its hearing about bitcoin and other digital currencies. Taking place in the 4th Floor Boardroom of 90 Church....
View the full video of the Senate Committee on Banking, Housing, and Urban Affairs hearing on virtual currencies here. It was refreshing to see a Senate hearing kick off half an hour early for a change, and in a place with far more sitting room than room 538 of the Dirksen Senate Office Building. Just before 15:00 ET, while aides were still preparing that room for the two-hour session, Senator Jerry Moran posted a question on reddit: "I'm one of the Senators attending today's US Senate Banking Committee hearing related to bitcoin. What would you like me to know?" He wanted wider input on....
View the full video of the Senate Committee on Banking, Housing, and Urban Affairs hearing on virtual currencies here. The Present and Future Impact of Virtual Currency hearing taking place today at the US Senate will be webcasted live on C-SPAN3. The Committee on Banking, Housing and Urban Affairs' Subcommittee on National Security and International Trade and Finance, and Subcommittee on Economic Policy will meet in open session. This is the second of two hearings on digital currency this week, the first being held by the US Senate Committee on Homeland Security and Governmental Affairs....
Since the New York Department of Financial Services (NYDFS) released its proposed regulations for bitcoin businesses on 17th July, the wider digital currency community has been locked in a heated debate over what the passage of the policies would mean for the future of the nascent industry. As put forth by Bitcoin Foundation director Jon Matonis in a recent CoinDesk opinion piece, the growing consensus in the Western world, if one can be derived, is that the NYDFS framework goes too far, threatening to stifle innovation in its bid to protect consumers. If true, the NYDFS proposal could be....