st434u Posted July 18, 2014 Posted July 18, 2014 http://www.cnbc.com/id/101845028 Cliffs: *All firms who transact in crypto-currencies will be required to hold BitLicenses. *100% reserves required by law. *Keep receipts of all transactions. *Report any illicit activity within 24 hours. *Licensees will be subject to examinations whenever we want, and at least once every two years.
Triumph Posted July 18, 2014 Posted July 18, 2014 "...proposing to issue a "BitLicense" that would protect consumers, prevent money laundering and enforce cyber security." I love how the writer doesn't even get past the first sentence and has to mention how the law will 'protect' the little people.
NumberSix Posted July 18, 2014 Posted July 18, 2014 I haven’t had a chance to read up on this in depth; but I believe this is a good thing, because the USA will fall way behind other countries in Bitcoin use and innovation. The last thing I want is the corrupt evil empire that is the USA being propped up by Bitcoin. I feel the real action will be in emerging markets with strong grey/black market activity.
J-William Posted July 18, 2014 Posted July 18, 2014 That's great they may as well just draw a big target on their back and say bitcoin not allowed in New York. I mean how many small innovative startups are going to start in New York using bitcoins? I know the answer! not a single single one.
Triumph Posted July 19, 2014 Posted July 19, 2014 On 7/18/2014 at 12:50 AM, NumberSix said: I haven’t had a chance to read up on this in depth; but I believe this is a good thing, because the USA will fall way behind other countries in Bitcoin use and innovation. The last thing I want is the corrupt evil empire that is the USA being propped up by Bitcoin. I feel the real action will be in emerging markets with strong grey/black market activity. You have too much faith in the virtue of other nations, but I can't argue that the USA is becoming more evil. The only good news is that virtue and virtuous people stand out the worse things get.
NumberSix Posted July 21, 2014 Posted July 21, 2014 On 7/19/2014 at 8:13 PM, Triumph said: You have too much faith in the virtue of other nations, but I can't argue that the USA is becoming more evil. The only good news is that virtue and virtuous people stand out the worse things get. I don't have faith in other nations; its just, in general, the other governments are weaker and don't have the ability to do evil on a global scale. How many countries can drone bomb the other side of the world, or contribute billions of dollars to prop up corrupt regimes?
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