The IMF Is Talking & Vouching for Virtual Currencies and Blockchain Tech
While presenting a new report about virtual currencies at the World Economic Forum, Christine Lagarde, the director of the International Monetary Fund (IMF) speaks for virtual currencies and their underlying technology’s potential to become a powerful tool. A new report by the International Monetary Fund praised the benefits and innovation that comes with virtual currencies. It calls for a balanced regulatory framework that should be mindful of the innovation at hand. IMF Managing Director Christine Lagarde presented the report at the World Economic Forum during the panel Transformation of....
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For those of you that were not able to view the US Senate hearings on Virtual Currencies [read: Bitcoin] do check out these highlights. Youtube user hromlery has been kind enough to highlight prominent US officials talking about Bitcoin. Even one year ago, nobody could have imagined this.
The Financial Action Task Force [on Money Laundering], also known as FATF, has released a new report focusing on virtual currencies. Specifically, the report covers "key definitions" and "potential AML/CFT risks" of these emerging payment methods. The FATF conducted research into the characteristics of virtual currencies to make a preliminary assessment of the ML/TF risk associated with this payment method. An important step in assessing the risks and developing an appropriate response, is to have a clear understanding of the various types of virtual currencies and how they are controlled....
In its final report on virtual currencies and distributed ledger technology concerning the likes of bitcoin and blockchain tech, the European Parliament’s Committee on Economic and Monetary Affairs has spoken about the possibility of revising existing EU payment laws, due to the innovations afforded by virtual currencies and blockchain technology. The European Parliament’s Committee on Economic and Monetary Affairs (ECON) has recently released its final report (PDF) on virtual currencies (VC) and blockchain or distributed ledger technology (DLT). In it, the ECON lists the opportunities and....
In an effort to warn the public about the risks associated with virtual currencies, USA.gov published a list of Five Things You Should Know About Virtual Currencies. The article aims to simplify what virtual currencies are all about and why people should think about the risks involved before choosing to invest in it. It defines virtual currencies as a digital form of money that can be used for purchasing goods and services typically online and can also be exchanged for other currencies such as the U. S. dollar. Risks of Virtual Currencies. The article also warned that these types of....
Regulation of virtual currencies is one of the most interesting topics in the European Parliament. A new report throws light on the technology. The importance of virtual currencies and its underlying blockchain technology is being recognized by the European Union, resulting a favorable outlook towards the cryptocurrency industry by the European Parliament. The recent report published by the European Parliament stands as an evidence of its stance towards virtual currencies. The opinion report on virtual currencies and virtual currency technology was published by the Committee on the....