French Senate will Debate on Bitcoin Regulation
While the efforts by the French Senate to combat terrorism and organized crime are commendable, the decision to make Bitcoin regulation more strict could end up hurting the local economy more than anything. The regulation of Bitcoin and digital currency will be debated upon in France, as the government is taking the risk of money laundering and terrorist funding very seriously. Although there is little to no proof to back up these claims, authorities feel the need to debate further on Bitcoin regulation. Bitcoin’s public image of being a currency used primarily by Internet criminals is....
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Read our earlier post about the French Senate Hearing's outcome here. Watch the videos below:
As announced last week, the French Senate met today in Paris to hold a hearing on bitcoin, it's benefits, and it's downsides. Reddit.com user 'mmitech' took the opportunity to post notes about what took place at the meeting the meeting here. According to the user's bullet points, it would appear as if the French government is keen to "catch up" with bitcoin. They don't clearly understand it yet, nor do they know how they'll regulate it, but they've recognized at this juncture that banning the digital currency is not an option. Overall, the French Senate's outlook on bitcoin seemed....
The French Senate has released a new report focusing on the type of regulation the government should apply on bitcoin transactions. Titled 'Regulation in the face of innovation: public authorities and the development of virtual currencies', the report follows a meeting of the committee of finance on 23rd July and is based on communication between committee president Philippe Marini and Senate member Francois Marc. It was inspired by a joint meeting held by the Senate, Treasury, customs, the Banque de France, TracFin (which deals with money laundering issues) and bitcoin specialists in....
The French Senate recently published a report on bitcoin which warned that a continued focus on the digital currency's risks could distract from its true potential, especially its "nearly inexistent" transaction fees and robust security. Though the document calls for some level of state regulation, it seems fair to say that the French government's approach to bitcoin is becoming increasingly positive. But do changes at Senate-level reflect a real shift in French attitudes towards digital currencies? Is bitcoin really catching on in the country? Advocacy centres and hackathons. "The....
Brazilian Bitcoin Regulation: A new study looking at the economic impact of Bitcoin on behalf of Brazil's Federal Senate has advised against the regulation of digital currencies - at least for now. The 18 page report by Cesar Rodrigues van der Laan has been hailed by some digital currency enthusiasts for recommending a 'Bitcoin friendly' approach to regulation, but at the same time presents a generally pessimistic analysis of Bitcoin's chances of future success within the Brazilian economy. "Given their limited current range, especially in Brazil, we do not see systemic risk to the....