How Should We Regulate Bitcoin?
Wences Casares, founder of Argentina's first Internet service provider, has moved into the Bitcoin market by founding wallet provider Xapo. He recently shared his views on Bitcoin regulation with the Big Think knowledge forum. Integrate Bitcoin into Existing Regulatory Efforts. Casares offers a simple, straightforward approach. While cryptocoins are brand new, he argues that every aspect of Bitcoin shares some of the characteristics of cash, gold, or of foreign currency. Rather than starting from scratch, we should simply review the laws for the three well-understood currencies and craft....
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India is reportedly working on a new way to regulate cryptocurrencies. “The government is planning to define cryptocurrencies in the new draft bill that also proposes to compartmentalise virtual currencies on the basis of their use cases,” according to a report. How India Will Regulate Cryptocurrencies India is reportedly planning to regulate cryptocurrencies as commodities based on use cases. “The government is planning to define cryptocurrencies in the new draft bill that also proposes to compartmentalise virtual currencies on the basis of their use cases,”....
Authorities in Russia are preparing a number of changes to existing laws in order to adopt rules for the country’s market for non-fungible tokens, or NFTs. A working group has discussed the matter and proposed solutions to legally define and regulate transactions with the digital collectibles. Economy Ministry Takes Initiative to Regulate NFTs in Russia The Ministry of Economic Development in Moscow is planning to put forward several amendments to the Civil Code and the law “On Digital Financial Assets,” to regulate the NFT market in the Russian Federation. The news....
Bitcoiners who are optimistic about Senate cryptocurrency legislation should remain skeptical of the legislators who want to regulate the industry.
The Senate’s economic affairs committee unanimously approved a bill that seeks to regulate the day-to-day usage of bitcoin in financial transactions.
The G7 finance ministers and central bank governors discussed the need to regulate cryptocurrencies during their latest meeting. German Finance Minister Olaf Scholz raised concerns about Facebook’s upcoming cryptocurrency. G7 Sees the Need to Regulate Crypto U.S. Treasury Secretary Steven Mnuchin hosted a discussion on Monday with finance ministers and central bank governors from Canada, France, Germany, Italy, Japan, the U.K., the European Commission, and the Eurogroup. The meeting was also attended by the heads of the International Monetary Fund (IMF), the World Bank, and the....