Bitcoin is Potential National Threat, Says U.S. Regulator
The last century of financial regulation within the world’s largest economy, in the United States, has bred a literal treasure chest of regulatory bodies that look more like an alphabet soup than any cohesive form of governance. It is difficult to tell if one made-up group of regulators are just created to boost national employment numbers, protect the proletariat, or to check another set of fact-checkers who guard a larger, established thiefdom. Speaking of thiefdoms, private companies like The Federal Reserve, in association with federal organizations like the SEC and the Treasury....
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The United States government just can't quite decide whether to regulate bitcoin, or deem it a threat by declaring it a form of financial terrorism. The digital currency regulated only by mathematics is now being seen by government officials as an emerging threat, possibly to national security. According to IB Times, a counterterrorism program being conducted by the Combating Terrorism Technical Support Office (CTTSO), a division of the Department of Defense (DoD), is seeking help from vendors asking for information on "state-of-the-art technologies" that could potentially pose a threat to....
South Korea is deliberating on four crypto-related bills for the regulation of cryptocurrencies. “We are currently doing groundwork by searching for and analyzing data on 578 coins that have various forms,” the chairman of the country’s top financial regulator reportedly said. South Korea Prepares to Regulate Crypto Industry The South Korean National Assembly’s National Policy Committee is currently deliberating on four cryptocurrency-related bills for the regulation of crypto businesses and protection of investors, Business Korea reported Wednesday. The....
U.S. state securities regulators have revealed that cryptocurrency investments are their top investor threat this year. “Before you jump into the crypto craze, be mindful that cryptocurrencies and related financial products may be nothing more than public facing fronts for Ponzi schemes and other frauds,” one regulator warned. Crypto Is the Top Threat for US Securities Regulators The North American Securities Administrators Association (NASAA) released its “annual list of top investor threats” Monday. The NASAA, formed in 1919, is a nonprofit association of....
The new Acting Comptroller of the Currency, Michael Hsu, has requested a review of the cryptocurrency standards established by the top U.S. banking regulator. He is also urged to “reassess any conditional national trust charters and halt the approval of any additional charters to nonbank entities” during the review. Top Banking Regulator Reviewing Crypto Policy Michael Hsu, the new administrator of the federal banking system and chief executive officer of the Office of the Comptroller of the Currency (OCC) has requested a review of the regulator standards for cryptocurrencies.....
Western Union CEO Hikmet Ersek has said his company is open to the idea of using bitcoin, but only once the digital currency is fully regulated. In an interview with Bloomberg TV, Ersek discussed how the company deals with security concerns and its role as a global jobs creator. However, the bitcoin bombshell is what makes the interview most interesting for cryptocurrency enthusiasts and investors. Regulation vital. When asked about the potential threat coming from bitcoin, which offers a far cheaper way to move value around the globe, especially considering Western Union's "expensive"....