Follow The Money: Behind The New York Post Bitcoin Hit
Recently, that illustrious portal, The New York Post, posted a criticism of Bitcoin entitled MIT Students Engineering Bitcoin Scheme. The piece by John Crudele was widely criticized for Mr. Crudele's apparent lack of knowledge in basic economics let alone cryptocurrency. If we follow the money behind The New York Post, we will find that this type of "Yellow journalism" is the norm over there. However, I believe that everyone is entitled to an opinion, and that includes Mr. Crudele. I believe that every journalist, or writer, or hack, is entitled to earn an income, and I believe that John....
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The New York State Department of Financial Services issued a release in mid-November that it plans to hold a public hearing on virtual currency regulation in New York City “in the coming months at a time and location to be determined.” Topics up for discussion include licensing for Bitcoin businesses that are deemed compliant with a potential whole new set of financial rules. The release suggests those news laws would include anti-money laundering regulations and consumer protection requirements. On the agenda also will be a review of money transmission regulations and how effective they....
It seems like there's no shortage of bitcoin exchanges out there. But how can you really know which one to trust? One of the ways is to follow their announcements. If they're ordinarily quiet (see Mt. Gox) you might have something to worry about. If they, on the other hand, are vocal about their operations, that's another story altogether. Enter Vault of Satoshi. I've been following this exchange for some time now, and I personally like what they're doing. The Canada-based exchange announced today the full acquisition of their money service business license in the country (this is similar....
This last Friday, the 27th March the period for public comments on the latest release of the New York's BitLicence proposal had ended. During this period, there were several developments to the proposal, however, many people within the bitcoin community feel that the proposal isn't still fully adequate to the digital currencies industry. Some people believe that new technologies should be seen as an opportunity to update laws and regulations and that this latest release of New York's BitLicence proposal fails to realize that. All the bureaucratic process around the state-by-state....
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....
The Electronic Frontier Foundation explained their position in regards to New York's proposed BitLicense on Wednesday, and the organization that is known for defending individual rights on the Internet did not have many kind words to say about the possible regulations. Also read: Bitcoin Foundation Condemns Lack of Transparency in New York BitLicense. The point of the post by the EFF was to reach out to their community and find people who would be willing to sends comments to the New York Department of Financial Services. Rainey Reitman, the author of the post on the EFF's website, made it....