Italy's Central Bank Welcomes Bitcoin to The Boot
Bitcoin has met few centralized establishment entities who are welcoming it with open arms. Countries like Russia, Ecuador, and Bangladesh have moved to ban it through regulation while countries like Canada and Australia take a more deliberate, and less fearful approach. Italy is taking a very original approach when it comes to what Bitcoin means to them and their central bank's monetary policy. On January 30th, The Central Bank of Italy made an official statement on digital currencies, granting the use of crypto-currencies as legal within the country. Italy Welcomes Bitcoin. Any Strings....
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While countries like Bangladesh and Ecuador are outright banning bitcoin and other digital currencies, Italy has taken an interesting first stance on the matter. In a notice on virtual currencies, published on January 30, the Central Bank of Italy acknowledged the use of virtual currencies as legal in their country. The Central Bank of Italy started off their notice with an explanation of digital currency, then noted that the Financial Action Task Force (FATF) published a paper on digital currencies in relation to money laundering and terrorism. The Central Back then explained that the....
The Central Bank of Italy (Banca d'Italia) is that country's first governmental authority to issue a statement on virtual currencies. It recently published three directives: Warnings on use of virtual currencies (30 Jan 2015). Notice on virtual currencies (30 Jan 2015). Notice of Central Authority for Reporting on virtual currencies (2nd Feb 2015). The "Notice About the use of virtual currencies" (published on the Supervisory Bulletin No. 1, January 2015) is a summary of guidance previously issued by the European Central Bank (ECB), the European Banking Authority (EBA), and the Financial....
If you even casually follow security news, you’re aware that the key governing Microsoft Secure Boot has been found, exploited, and Secure Boot as a “feature” has been rendered meaningless. I’m here to tell you that this is a good thing. Most coverage of the subject has been written in that panicky, alarmist prose that makes for exciting news, but the problem is that the invalidation of Secure Boot is a very positive development for everyone concerned, except for Microsoft. Yes, it shows why backdoors for “the good guys” are a terrible idea — yes, it even has far-reaching implications for....
Yet another international central bank is putting the spotlight on bitcoin by sounding the warning alarm to those who may be inclined to buy, invest in it, or use as, well, a currency. This time around it's Banca d'Italia, Italy's Central Bank. In a recently-released statement, the central bank cautioned that bitcoin (and presumably other digital currency) are not financially stable, are not legal tender, and offers no protection to those who use it and lose it. The Central Bank also noted that bitcoin has the potential to be used for illicit activities, which of course applies to cash,....
Italy has made first step towards Bitcoin by implementing the same regulations as they do to cash. Italians just love cash. There are about 7 million people in Italy, who do not have the bank account and by that I mean that they had never had one. At the same time however, the number of population that downloaded bitcoin wallet places Italy 12th among other countries and this is only what can be traced. Although, on the general technological front Italy is far from the techy countries in EU. That probably is due to distrust to digital means of managing money and as we know, that kind of....