Bitcoin Regulations Not Welcomed by Everyone in Bitcoin Community
Many states have already implemented or considering the implementation of bitcoin regulations, which some fear will restrict the use of bitcoin among the community. There are lots of debates happening in the Bitcoin community. While the most prominent one is on block size, another significant topic is regarding Bitcoin regulations. There are a set of companies and organizations stressing for regulations in the Bitcoin sector , which the opposite camp believes will violate the very principles the digital currency is built on. These debates get hotter each time a new state in the United....
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On July 17, New York became the first state to attempt to regulate Bitcoin and other forms of cryptocurrency (referred to as virtual currency in the proposal). New York Department of Financial Services (NYDFS) Superintendent Ben Lawsky announced the so-called BitLicense proposal on Reddit. While some in the Bitcoin community welcome regulation as a validation of Bitcoin's right to exist, the majority oppose it as the first roots of centralization. Beginning July 24, the public will have 45 days to give feedback to New York state regulators before the BitLicense draft is finalized. In true....
Dogechain (DC) has been incredibly popular among the meme coin community which has welcomed it with open arms. The native token has also done well considering that it launched during a bear market but the crypto winter has eventually caught up with it, as expected. Given this, Dogechain developers have proposed a drastic reduction in […]
The legislators from the parliament of Poland interacted with Bitcoin community as part of a debate organized by the Polish Bitcoin Society. The government in Poland recently had a debate in the Polish Parliament regarding Bitcoin regulations. The event organized by the Polish Bitcoin Society along with Miroslaw Suchon saw lectures by specialists from the Bitcoin and blockchain industry. Cryptocurrencies like Bitcoin occupy a unique position in the monetary system. They are decentralized, supported by a worldwide community instead of central banks and governments. Without control over the....
As many may already be aware, July 17, 2014, the New York Department of Financial Services (NYDFS) issued its proposal for the regulation of virtual currencies (Proposed Regulations).¹. At this point, the Proposed Regulations are exactly that - a proposal. There is a 45-day period of public comment, after which the NYDFS may or may not consider the comments it receives. Then, with any revisions that NYDFS deems necessary, the Proposed Regulations will become final and official. Understandably, there has been quite an uproar about the Proposed Regulations among the virtual currency world,....
Last 17th July 2014, the New York State Department of Financial Services (NYDFS) has officially released its proposed BitLicense regulations, governing virtual currency firms doing business with New York residents or operating in New York. This was the first proposed regulatory framework designed specifically towards virtual currencies. The bitcoin community and businesses dealing with crypto currencies should be aware that during the 45-day comment period, they have the opportunity to provide feedback and request clarification or amendments to the proposed regulations. The comment period....