State Regulators Working to Pen First Bitcoin Rulebook
An established task force of U. S. State regulators are reportedly working to pen the world's first bitcoin rulebook in a move the aims to protect individuals from the perils of digital currency without stifling the development of the technology. "We may be looking at some type of model definitions, or model laws or regulations, and very likely recommendations to either our federal colleagues or to Congress," said David Cotney to news agency Reuters outside of a public hearing on the matter Friday. Cotney serves as the Massachusetts Commissioner of Banks, and was appointed in February as....
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Conference of State Bank Supervisors (CSBS) is a 100-year-old trade organization for state regulators that primarily concerns itself with representing state regulators interests and dealing with issues facing the industry to federal and state authorities. One of their primary invitations is advocating consistent regulations among the financial industry from state to state. The organization announced a new focus on emerging financial technologies in February of 2014. They formed a task force for emerging payment systems whose purpose was to research and develop regulations for those new....
This week, the Conference of State Bank Supervisors (also known as the CSBS) made an announcement of a new task force charged with the task of studying today's changes in payment systems. The Task Force, aptly named the Emerging Payments Task Force, will set their attention on digital currencies and other innovations down the line "to determine the potential impact on consumer protection, state law, and banks and non-bank entities chartered or licensed by the states." The Task Force will engage with a broad range of stakeholders - including fellow state regulators, federal regulators,....
State regulators see the challenge of regulating bitcoin and digital currency as no easy task. Case in point: State regulators right here in Massachusetts are mulling bitcoin regulation in effort to make it clear just the play rules are when it comes to the use of these new, emerging currencies. "We will be trying to come up with a model law or regulations states can use," said David Cotney, commissioner at the Massachusetts Division of Banks to the Boston Herald. "This has gotten a lot of attention, and we want to make sure when we act, we get it right." Cotney is also the chairman of the....
Friday, Ohio regulators banned Bitcoin-for-alcohol sales in the state. Ohio regulators impose a bizarre ban on bitcoin-for-alcohol transactions in the state. Nikhil Chand, founder of CoinNEO and Bitcoin Boulevard, patiently prodded state regulators about the legality of Bitcoin-for-alcohol transactions. The federal Alcohol and Tobacco Trade Bureau gave him the go-ahead. But when the Ohio Department of Public Safety finally issued an official response, it was not what he had hoped for. "Bitcoin cannot be accepted as payment for alcohol in the State of Ohio," state regulators decided. The....
The U.S. Securities and Exchange Commission (SEC) and several state regulators are reportedly investigating the decision by crypto lender Celsius Network to freeze withdrawals.
U.S. Securities Regulators Investigate Celsius’ Withdrawal Freeze
The U.S. SEC and securities regulators in Alabama, Kentucky, New Jersey, Texas, and Washington are investigating the decision by crypto lender Celsius Network to freeze withdrawals, Reuters reported Thursday.
Texas’ director of enforcement Joseph Rotunda explained that officials representing the five state....