Bitcoin Hearings Day 1: Bitcoin Hits 'Tipping Point' with New York Regulators
The full video of the 28th January New York bitcoin hearing can be viewed here. Stay tuned to CoinDesk for more updates on today's hearing, and be sure to follow us on Twitter for live tweets. Fear, uncertainty and doubt (FUD) is a term often used in bitcoin circles to describe feelings about the prospect of regulation concerning virtual currencies, and there may be no better phrase to convey the mood at the start of the New York Department of Financial Services' (NYDFS) first day of public hearings on virtual currencies. Following a prolonged and palpable excitement in the boardroom, an....
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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....
If day one of the New York Department of Financial Services (NYDFS) hearings on virtual currencies was characterized by a circus-like atmosphere and initial tension from both parties, day two saw the emergence of a loose consensus of regulatory goals that could benefit the bitcoin community as well as help regulators bring stability and safety to the market. Members of the bitcoin business community continued to express a desire for reasonable regulations, and named wallets and exchanges as the best places for initial oversight. Further, academics and regulators began to define the space....
The dust has settled from the virtual currency hearings in New York City this week. We saw a mixture of speakers, including law enforcement agents warning of digital currencies' many potential dangers, VCs getting hot under the collar over the regulation debate, regulators musing about whether they should license miners or not, and one vehemently anti-bitcoin academic. New York state has almost 20 million people - around 6% of the US population - and houses the heart of its financial services industry. It was a good place for the first state-level inquiry into the regulation of....
The Bay Area's leading poverty-fighting organization recently accepted its first Bitcoin donation. Bart and Brad Stephens of Stephens Investment Management donated 20 bitcoins to Tipping Point Community on February 6."Bitcoin is a disruptive innovation in the field of financial technology," Bart Stephens said. "Tipping Point is an innovator and a disruptive force in philanthropy. We have supported Tipping Point since its inception and we are excited by this pioneering gift. Both Tipping Point and Bitcoin share a bright future, bringing benefits to consumers and families in need....
While Congress is planning multiple hearings, it's less clear what financial regulators might do.