Amendments to US commercial code differentiate crypto and ‘electronic money’
The updated guidelines seek to clarify the terms of crypto assets lending and specify the status of CBDCs. A joint committee of the United States's Uniform Law Commission (ULC) and the American Law Institute (ALI) finalized amendments to the Uniform Commercial Code (UCC), regulating the specifics of digital asset transactions and crypto-as-collateral secured financings. The amendments are “recommended for enactment in all the States,” although each case of final implementation may vary depending on the State. A final draft of the ULC-ALI Emerging Technologies Committee’s amendments to the....
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Amendments to the tax code have passed the first round of parliamentary consideration in February. In the last few months, the standoff between the Central Bank of Russia (CBR) and the country’s Ministry of Finance over crypto regulation has become the key regulatory plot for the Russian crypto community to follow. Simultaneously, however, another important legislative development has been unfolding somewhat under the radar: negotiations around tax code amendments that would make cryptocurrencies a taxable asset class. Here’s how it went down so far.13% for individuals and 20% for....
A parody of a PayPal Super Bowl commercial that was posted on YouTube has been blocked by the payments company. The video advertisement, PayPal's first promotion during the popular American sporting event, positions the firm as “New Money” versus the more archaic “Old Money”. According to the Wall Street Journal, after bitcoin supporters became “riled” at the ad's claim, Shiloh Silverman, owner of video production firm Silver Park Studio, made a new version of the video. His spoof cut in images of people using bitcoin and replaced “PayPal” with “Bitcoin is newer money”. However, after....
PayPal has put the brakes on a bitcoin-based parody of its Super Bowl commercial that surfaced on YouTube not long after the original advert’s primetime bow. A reimagined version of PayPal’s Super Bowl advert that was published on YouTube has been pulled from the video-sharing platform at the behest of PayPal. PayPal’s commercial proclaims the company’s position as “New Money”, compared to old-fangled “Old Money” such as paper currencies and banking institutions that close before the sight of dusk. Shiloh Silverman, an individual who runs a video production house called Silver Park Studio....
Banco Central del Ecuador (BCE) announced it has officially entered into the first phase of the establishment of its own electronic cash system, asking citizens over 18 years old to open an account using their smartphones. Starting from December 23, Ecuador citizens over 18 years old can open an electronic money account using a simple code that is required to be enter on their mobile phones, reads the official release. This date triggers the beginning of the country's three-phase launch, said the central bank. From mid-February 2015, the second phase will consist in processing the first....
Paypal has an ad coming out for the Super Bowl heralding the advent of “New Money.” Guided by the tunes of Demi Lovato’s hit single “Confident,” the ad directed by Crispin Porter is announcing to the world that something refreshing is coming. Meanwhile, some are asking if the company could also inadvertently bring Bitcoin to the forefront with the new....