No, the EBA's Bitcoin Regulation Proposals Aren't All Bad
The European Commission's proposal to regulate digital currency exchanges and custodial wallets has a bit of a bad rep. Announced in July, the executive branch of the European Union is advising that wallet providers be brought under the scope of its anti-money laundering (AML) and countering terrorist financing (CTF) regulations, and doing so has raised many controversies. Perhaps most notable have been the European Commission's proposed definition of "virtual currencies" and its alleged proposal to build a database of users. Both have stoked concerns in the industry. New topics....
Related News
Bitcoin Improvement Proposals (BIP) are proposals for making change to the Bitcoin network. These proposals on the blockchain are activated after gaining the required consensus from the Bitcoin community. While it is a standard practice for Bitcoin Core developers to introduce BIPs, these may require more than just technical expertise to ensure positive growth of Bitcoin as a currenc. Over the past two years, a number of Bitcoin Improvement Proposals have been put forth by various members of the Bitcoin community. These proposals call for the block size to be increased from anywhere....
The idea of bitcoin regulation remains a hotly debated topic to this day, as many have claimed that this will just end up stifling innovation. One of bitcoin's defining characteristics is that it is decentralized, which means that there is no central monetary authority or government overseeing its activity. The "regulation" and security of the industry are upheld through the consensus-based decision-making model more commonly called the bitcoin protocol, as transactions aren't considered valid unless they're verified and recorded on majority of computers in the network. Bitcoin Regulation....
“What is clear is that if we embrace these developments, Australia has an enormous opportunity to capitalize on the convergence between finance and technology,” Treasurer Josh Frydenberg said. The Australian government is seriously consider the rollout of central bank digital currency (CBDC) and has backed numerous forward-looking regulatory crypto-proposals as part of a new “payments and crypto reform plan.”Treasurer Josh Frydenberg says the reforms "will firmly place Australia among a handful of lead countries in the world."The reform plan is said to be the biggest shake-up of the....
US Representative Steve Stockman (R-TX) received widespread praise from the bitcoin community this week after submitting a bill to US Congress that would prohibit any state or federal regulator from passing bitcoin regulation for the next five years. Though it may face difficulties appealing to lawmakers who aren't well-versed in the technology, Stockman staunchly advocates for the bill, known formally as the Cryptocurrency Protocol Protection and Moratorium Act, which he views as integral to promoting future job creation in the US. Speaking to CoinDesk, Stockman indicated that he believes....
Perhaps the biggest bitcoin-related question on everyone's mind is, "Can bitcoin be regulated?" The argument has been going on for some time, and various experts suggest that the possibility of bitcoin regulation is not entirely unlikely. After all, New York's BitLicense proposal, which requires businesses delving into the art of cryptocurrency to acquire licenses before conducting operations has been cramming news sources, and rumors are abound that it could take effect as early as January of next year. California is now in line to tackle bitcoin regulation. While no true push has been....