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Licensing Fees and Taxes: The Upside For Governments Embracing Crypto Regulation

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The cryptocurrency and blockchain industries have pretty much stood unregulated ever since the Bitcoin (BTC) ledger was launched back in 2009. This means that for the last 9 years or so years, crypto enthusiasts, exchanges and traders have been enjoying the ride without answering to governments or any laws. This has been a good thing for this is the main point of decentralization through Distributed Ledger Technology.

But as much as John McAfee hates centralized governments, they are a necessary evil to maintain order in the various countries we live in. Whether it be an autocratic or democratic government, its mandate is to provide basic services to its citizens such as security, economic stability and healthcare. Governments achieve this through taxation, levies and fees for specific services.

With more countries embracing Crypto-regulation such as the Philippines, South Korea, Australia, Japan, Malta, Thailand, Kazakhstan and more, the corresponding governments will find a way to get their share of the crypto market action. One form is licensing fees as can be seen in the Philippines. The regulatory body there will rake in a cool $67 Million for issuing the 25 licenses it has set to approve. This means the funds collected can be diverted to other social services in the country.

The country of Australia is also working on taxing crypto profits for its citizens that have been stashed away their crypto loot in foreign jurisdictions. This will involve cooperation between the Australian authorities and other governments they have an agreement with when it comes to such matters of finance. The revenue collected from such individuals will once again probably fund the welfare benefits the country sets to distribute via blockchain technology. The country also aims at being a global leader in blockchain technology, A.I. and quantum computing. All these projects need some sort of funding and it will probably be sourced from taxing crypto trading.

In a nutshell, with cryptocurrencies and crypto-trading, comes a new way for generating revenue for any individual. With any income generated, comes the responsibility of paying taxes to the corresponding jurisdiction we live in. Crypto exchanges are also business entities that must declare profits and pay their dues in licensing fees and taxes accordingly. This is a reality we must embrace no matter how bitter it is to accept.

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IRS Launches International Effort to Investigate Cryptocurrency Tax Crimes

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The United States Internal Revenue Service (IRS) is taking cryptocurrency tax compliance to the international stage, joining tax authorities from four other nations to form a coalition tasked with combating cryptocurrency-related tax crimes.Taking the Cryptocurrency Tax Fight to the Global Stage

In recent times, cryptocurrency trading has reached significant levels and can no longer be dismissed as a fad. Countries appear to be waking up to the reality of the considerable trading volume in the market. Thus, cryptocurrency taxes have become a major topic of discussion in many nations around the world.

With tax payments comes the need for adequate monitoring, regulation, and enforcement to ensure compliance. The IRS has been at the heart of virtual-currency related tax compliance, but now it appears the Agency wishes to take the fight to the international stage.

The IRS has teamed up with tax authorities from the United Kingdom, Canada, Australia, and the Netherlands. Together, they have formed the Joint Chiefs of Global Tax Enforcement (J5).

The J5 Mandate

The purpose of the J5 is to fight transnational tax crimes. Cryptocurrency-related tax offenses are a major focus of the J5. The coalition was formed in response to the call from the Organization for Economic Co-operation and Development (OECD) to reduce tax crimes.

According to a statement released by the IRS:

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Five Nations Join Efforts to Punish Transnational Bitcoin Tax Crime

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Tax enforcement authorities from five nations announced that they have created a united alliance, the Joint Chiefs of Global Tax Enforcement, known as “the J5.” The J5 said they are committed to combating transnational tax crime “through increased enforcement collaboration,” in other words: working together to gather information, share intelligence, and conduct joint operations.

The J5 include the Australian Criminal Intelligence Commission (ACIC) and Australian Taxation Office (ATO), the Canada Revenue Agency (CRA), the Dutch Fiscale Inlichtingen- en Opsporingsdienst (FIOD), the British HM Revenue and Customs (HMRC), and the American Internal Revenue Service Criminal Investigation (IRS-CI).

“We are convinced that offshore structures and financial instruments, where used to commit tax crime and money laundering, are detrimental to the economic, fiscal, and social interests of our countries,” the IRS posted in a statement on their homepage. “We will work together to investigate those who enable transnational tax crime and money laundering and those who benefit from it. We will also collaborate internationally to reduce the growing threat to tax administrations posed by cryptocurrencies and cybercrime and to make the most of data and technology,” they added.

The group met for the first time last week and developed new plans to identify and pursue cybercriminals and those who enable transnational tax crimes, and who enable and assist money laundering. Further updates on J5 initiatives will be announced in late 2018.

Bitcoin has presented millions of individuals around the world with a unique opportunity to generate a massive amount of revenue through intelligent investing.

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New Report Warns EU Policymakers Not to Ban Bitcoin

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New research analysis on cryptocurrencies for the Economic and Monetary Affairs Committee of the EU parliament cautions lawmakers neither to ignore nor “attempt to ban” virtual currencies. A ‘Contemporary Form of Private Money’

The report, provided by Policy Department A at the request of the European Union Parliament’s Economic and Monetary Affairs Committee, is titled Virtual currencies and central banks monetary policy: challenges ahead.

In it, authors Marek Dabrowski and Lukasz Janikowski from the Center for Social and Economic Research consider cryptocurrencies or virtual currencies (VCs) as a “contemporary form of private money.”

Referencing previous shortcoming of private money in the past, the researchers acknowledge that the technological properties of VCs like Bitcoin, for example, make it “relatively safe, transparent, and fast.” However, their “anonymous” and “trans-border” properties admittedly pose a challenge for financial regulators.

“Unlike their 18th and 19th century paper predecessors, VCs are used globally, disregarding national borders,” the report reads. 

VCs ‘Will Remain With Us For a While’

VCs aren’t expected to go away anytime soon, particularly because of their decentralized and apolitical nature. What’s more, the authors urge economists not to downplay the disruptive potential of this new technology.

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Regulatory Progress: Philippines to Regulate Crypto and License 25 Exchanges

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The country of the Philippines was thrust into the global limelight when President Rodrigo Guterte came into power in 2016. The tough, no nonsense former Mayor of Davao City had promised to clean up the country and wasted no time on his war on drugs. The country has once again grabbed the global spotlight by being one of the first to draft cryptocurrency regulations as well as planning to issue licenses to cryptocurrency exchanges.

News coming in from the Philippines indicate that the Cagayan Economic Zone Authority (CEZA) is the government body that has been tasked with drafting rules to safeguard cryptocurrency investors in the country as well as issue the said licenses to a maximum of 25 crypto exchanges. The country, through CEZA, has plans on becoming a fintech hub in not only Asia, but the entire world.

Originally, CEZA had stated it would license only 10 exchanges but the increase in number could be as a result of the government listening to the general popular opinion and sentiments in the country. Initially, the country’s authorities were cracking down on Bitcoin traders as well as mining activities but this stance has since eased with the current news of CEZA drafting crypto regulation.

The CEO and Administrator of CEZA, Raul Lambino is quoted as saying the following when the licenses to be offered were initially only 10:

We are about to license 10 platforms for cryptocurrency exchange. They are Japanese, Hong Kong, Malaysians, Koreans. They can go into cryptocurrency mining, initial coin offerings, or they can go into exchange. The exchange of fiat money into virtual currency, and vice versa, should be done offshore to avoid infringing Philippine regulations.

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South Korea Thinks Real-Name System is Working – Stepping Up Crypto Monitoring

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South Korea’s top financial regulator recently told 23 other countries’ regulators that the kimchi premium has fizzled since the anonymous trading of cryptocurrencies was banned in the country. Now, the government is introducing a new guideline to prevent local crypto exchanges from buying cryptocurrencies at foreign exchanges.

Kimchi Premium Disappearing 

Kim Yong-beom, the vice chairman of South Korea’s top financial regulator, the Financial Services Commission (FSC), attended a meeting of the Financial Stability Board (FSB) in Basel, Switzerland, earlier this week.

The FSB is an international body that monitors and makes recommendations about the global financial system. Its members are financial regulators and central bankers from 24 countries as well as the International Monetary Fund, the Bank of International Settlements, the World Bank, the European Central Bank, and the European Commission.

According to the FSC’s statement issued this week, Kim told other world regulators that “The so-called kimchi premium stood at 0.6 percent on June 19,” Yonhap described. In comparison, he noted that “On Jan. 7, a speculative rally in bitcoin in South Korea prompted investors to pay premiums of 46.7 percent compared with international prices.” The vice chairman was further quoted by the news outlet:

Currently, there are small price gaps in cryptocurrency between local and international markets.

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U.N. Chief of Cybercrime to crypto-hackers: “We will track you down, and we will bring you to justice”

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In an interview for Tech Republic; Neil Walsh, Head of Cybercrime, Anti-Money Laundering and Counter-Financing of Terrorism Department for the United Nations discussed his views on cyber-security, crime and the role of cryptocurrency and blockchain in this new problem.

For Neil Walsh, the Society has evolved thanks to the use of technological tools to the point that it would be difficult to conceive daily life without the use of technologies such as the Internet.

However, the rise of cryptocurencies and blockchain technologies has also generated new forms of criminal activities.

The problem of cybercrime and cybersecurity has caused a strong moral debate on how to combat it without affecting citizens. In this situation, Neil Walsh mentions that any fight must begin by accepting that technology is beneficial and necessary:

“Let’s look at it this way. I hate seeing kids being run over by drunk drivers. But, the solution isn’t banning cars. So, we have to accept that the technology exists and attacking the technology aspect isn’t necessarily the solution to that.

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EOS Set to Amend its Constitution Barely Two Weeks After Mainnet Launch

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In what continues to be one of the most eventful sagas in blockchain history, EOS is set to abolish its controversial constitution. This move comes barely two weeks after the launch of its mainnet.

A Do-over of the EOS Constitution

In a Reddit post by “SonataSystems,” screenshots from the EOS telegram chat show excerpts of a conversation between Dan Larimer and Simon Case. Larimer is the chief technology officer (CTO) of EOS. The discussion can be viewed in the image below.

The proposed changes seem to address many of the burning issues concerning the constitution. The new framework will cover only major blockchain problems like the type the DAO suffered after the hack. This new constitution on the face of it strips power away from the 21 block producers (BPs) who have been accused of monopolizing control of the blockchain. It also significantly limits the oversight responsibility of arbiters like the EOS Core Arbitration Board.

Critics have derided EOS for its apparent lack of decentralization with BPs holding far too much power. Also, many have criticised the need for a constitution or any human form of governance on a blockchain. They argue that one of the fundamental philosophies of blockchain technology is governance by computer code – which unlike humans, is always impartial.

The reaction to the proposed changes has been split between support and those who believe that the plan is yet another failure waiting to happen. A Redditor with the username “jjordan” remarked:

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Six Japanese Crypto Exchanges Respond to Regulator’s Improvement Orders

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Six fully-licensed Japanese cryptocurrency exchanges have responded to the business improvement orders issued by the country’s top financial regulator. Two executives have also resigned from their positions as vice presidents of the recently formed crypto exchange association.

Japan’s top financial regulator, the Financial Services Agency (FSA), issued business improvement orders to six regulated crypto exchanges on June 22. Japan currently has 16 regulated crypto exchanges in total. Bitflyer, Bitpoint Japan, Btcbox, Bitbank, Quoine, and Tech Bureau received instructions to improve their crypto exchange businesses. Out of the six, only Tech Bureau has received two such orders.

Crypto Exchange Association

The Japan Virtual Currency Exchange Association (JVCEA), founded in March, consists solely of the 16 government-approved crypto exchanges. It was formed in response to the hack of Coincheck in order to restore public trust in the industry.

The chairman of the association is Taizen Okuyama of Money Partners. There are four directors: Bitflyer’s Yuzo Kano, Bitbank’s Hiroyuki Noriyuki, SBI Virtual Currencies’ Yoshitaka Kitao, and GMO Coin’s Tomitaka Ishimura. While GMO Coin did not receive a business improvement order on the 22nd, it received one in March.

On Monday, June 25, the association announced that two of its vice chairmen have resigned, stating:

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Crypto Regulation a Top Priority for World Governments

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With the recent rise in mainstream popularity of cryptocurrencies and the ever-present allegations of cybertheft and market manipulation, it has become a top priority for governments to put a lid on the madness.Crimes Without Consequences

The very nature of cryptocurrencies and decentralized, autonomous systems pose a serious threat to the current structure of the global economy, but a more imminent issue in the eyes of world governments is the threat to the security of the average investor.

Between hacks on major exchanges like Bithumb, attacks on the individual cryptocurrency networks such as ZenCash, and phishing attacks on just about every popular crypto site, the world has seen an unprecedented number of cybertheft incidents as a result of the cryptocurrency craze.

Investors who fall victim to these crimes are, more often than not, left with no one to hold accountable for their damages, and they wait in vain for the protection they have come to expect of their local securities and exchange commissions.

Challenges of Regulating New Tech

In order for effective blockchain legislation to be drafted and implemented, however, regulators must understand the intricacies of the rapidly-evolving technology and this education requirement is proving to be a roadblock for many governments. Some, such as the Chinese government, have resorted to banning cryptocurrencies altogether, though this has proven ineffective as China remains a world leader in Bitcoin mining.

Other countries such as South Korea and England are taking their time with regulation, hoping to develop a compromise that is both fair to investors and enforceable.

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EU Adopts New AML Directive to Combat Cryptocurrency Crimes

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The European Union recently adopted a new anti-money laundering (AML) directive specifically targeting cryptocurrencies. It is the fifth AML directive of the EU, and aims to detect, investigate, and prevent financial crimes in the region.Details of the Directive

The directive tagged “Directive (EU) 2015/849” allows Financial Intelligence Units (FIUs) to access cryptocurrency wallet information. These security agencies will be able to identify the owner of a cryptocurrency address, based on this latest policy. A portion of the directive reads:

It is therefore essential to extend the scope of Directive (EU) 2015/849 so as to include virtual currency exchange platforms and custodian wallet providers. Competent authorities should be able to monitor the use of virtual currencies. This would provide a balanced and proportional approach, safeguarding technical advances and the high degree of transparency attained in the field of alternative finance and social entrepreneurship.

The major highlights of the new directive include:

A better understanding of the risks posed by virtual currencies as well as prepaid cards. Improved cooperation between FIUs More comprehensive checks on transactions originating from “high-risk third countries.”

One crucial aspect of the new policy is balancing its objectives of hindering criminal finance without disrupting the region’s payment ecosystem. Commenting on the new directive, Bulgarian finance minister and President of the European Council said:

These new rules respond to the need for increased security in Europe by further removing the means available to terrorists. They will enable us to disrupt criminal networks without compromising fundamental rights and economic freedoms.

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Are China’s Latest Crypto Rankings a Waste of Space?

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The Chinese government has just released its second round of cryptocurrency rankings with two new projects listed and a shakeup in the order that doesn’t really add up.

The ratings are based on three primary sets of criteria; the basic level of technology displayed, usefulness of the application, and the innovativeness of the project. The country’s Center for Information Industry Development (CCID), under the Ministry of Industry and Information Technology, has updated their rankings for the second month now.

China’s Global Public Chain Technology Evaluation Index was officially released on five days at the Shanghai Science Hall. Adding to the 28 original crypto projects this time around was EOS and Nebulas. EOS went straight in at the top, knocking Ethereum down to second spot. This is a surprising decision given the controversy, centralization concerns, and technical glitches that mired its mainnet launch. EOS took one of the biggest hits in the market low yesterday losing over 30% on the week to its lowest price in almost 3 months of just over $7.

The explanation for the CCID’s high regard for EOS came as follows;

“The EOS main network went live on June 10. Although there was an accident such as a short-term suspension, it was highly active in technological innovation, and the software update speed was still one of the new generation public chains that are currently most concerned by the industry,”

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UK’s Cryptocurrency Task Force Concerned Over Recent Exchange Hacks

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The latest hacks in the cryptocurrency industry have had some British MPs questioning whether customers’ funds are safe.

The word “hack” has the ability to send fear into the hearts of many a cryptocurrency holder. Were you affected? Are your funds safe? Will you be compensated if you’re a victim? These are thoughts that run with frightening speed through your mind until you get confirmation.

However, in today’s age of regulation, holders are not the only people on alert. Authorities with their eye on virtual currencies are always ready to ask questions when things go south, as was the case with the recent security breaches of both Bithumb and Coinrail.

Cold Storage is Required

According to Stuff, Iqbal Gandham, the chairman of CryptoUK, sought to reassure authorities by providing some insight. The self-regulating agency represents a range of cryptocurrency trading websites including eToro, Coinbase, and Coinfloor. Gandham has stated that they request that all of their members store at least 90% of their virtual funds offline in an effort to protect them against hacks. He added that “security is improving.”

Lack of Institutional Support

Even though regulation is the name of the game, solid and clear frameworks are still hard to come by. In fact, Gandham believes that this lack of decisive action has made traditional banks wary of working with cryptocurrency exchanges. This, in turn, has resulted in said exchanges working with foreign banks. He explained:

99.9 per cent [of exchanges] have bank accounts in far-flung jurisdictions and UK consumers are sending their money to high-risk jurisdictions.

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US Federal Reserve Launches Cryptocurrency Index

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This week the Federal Reserve Bank of St. Louis added cryptocurrency to their Federal Reserve Economic Data (FRED) database. It’s a seemingly small gesture, but one that signals to most observers crypto’s maturation, at least in the eyes of arguably the most important central banking institution in the world.  

Federal Reserve Bank of St. Louis Adds Four Cryptos to its FRED Database

“FRED has added four series on the prices of different cryptocurrencies,” the St. Louis Federal Reserve posted without much fanfare this week, including “Bitcoin, Bitcoin Cash, Ethereum, and Litecoin. The price data are updated daily and span from as early as 2014 to the present. All data were obtained from Coinbase, a cryptocurrency exchange company, whose overall digital asset performance is depicted in the above graph (Coinbase Index).”

The St. Louis Fed is one of 12 regional banks within the system, collectively constituting the most powerful central bank on the globe. Known to be part of the 8th District, which includes midwestern Fed banks, it is also considered an economic research powerhouse.

It maintains its FRED database at its famed research division. The bank uses more than half of a million data points, derived from 81 sources. Exchange rates, GDP, interest rates, consumer indexes, banking, producer price indexes, among other sectors, comprise its focus. FRED-published statistics carry massive weight in the professional financial world.

That some government agency creates yet another index isn’t particularly newsworthy. However, that both proponents and opponents frequently set cryptocurrencies such as bitcoin cash (BCH) as distinctly operating in defiance of central banks, and how the Fed appeals to crypto bank Coinbase for its metric, means decentralized currencies have come of age.

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Taiwan’s Financial Regulator to Conduct Limited Oversight of Cryptocurrencies

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The Financial Supervisory Commission of Taiwan has indicated its intentions to maintain only a limited oversight of cryptocurrencies. The regulator said it’s going to focus mainly on the enforcement of anti-money laundering policies, while remaining open towards innovations like those coming from the crypto sector.

With the executive power in Taipei still mulling over new regulations for cryptocurrencies and initial coin offerings (ICOs), representatives of Taiwan’s financial regulator indicated their unwillingness to slow down progress in the fintech industry. The Financial Supervisory Commission (FSC) will mainly focus on one of its core duties – overseeing the enforcement of anti-money laundering policies, and will continue to welcome innovations that come with digital currencies.

During a press conference on Thursday, Banking Bureau Deputy Director Sherri Chuang said the FSC prefers to monitor developments and avoid stifling early-stage growth. Quoted by The Taipei Times, she emphasized:

The commission maintains an open stance and welcomes all industry innovations.

Chuang also noted that cryptocurrencies, and the tokens issued through ICOs, which are classified as commodities at this stage, do not currently fall under the commission’s jurisdiction. The regulator is only involved in preventing money laundering through virtual assets, the official reiterated before the media. Sherri Chuang compared the situation with that of the lease finance companies, where the involvement of the regulator is also limited to money laundering prevention.

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‘Money Has Changed Over Time’: US Supreme Court Cites Bitcoin in Positive Light

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What do you think about the Supreme Court’s perspective on Bitcoin and money? Let us know in the comments section below! 

While traders and naysayers alike fret over bitcoin price, the market leader quietly achieved a first in its history. On June 21, Bitcoin appeared in a US Supreme Court ruling for the first time. 

Supreme Court Reevaluates ‘What We View As Money’

As part of the summary comments on the case Wisconsin Central Ltd. v. United States, a judge mentioned Bitcoin while discussing “what we view as money” — suggesting it could at least have a future in how employees receive wages.

Wisconsin Central Ltd. v. United States involved a dispute over whether the railroad company’s worker stock options can be taxed in the same way as money when it constitutes a form of remuneration.

The case, which came to court in April and received its verdict this week, saw a reevaluation of the essence of money — with Supreme Court’s Justice Stephen Breyer arguing parties “should not be trapped in a monetary time warp.”

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Japan’s Biggest Crypto Exchange Halts New Account Signups As Regulators Demand Improvements

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What do you think about BitFlyer’s AML/KYC obligations? Let us know in the comments section below! 

Japanese cryptocurrency exchange BitFlyer suspended new account registrations on June 21, after regulators demanded it improves its security arrangements.

BitFlyer Hit With AML/KYC Cleanup

A tweet and statement confirmed the move, which officials implemented as part of a Business Improvement Order from Japan’s Financial Services Authority (FSA). The statement reads:

We apologize to all concerned and the customers who have caused a great deal of worry and inconvenience due to this business improvement order.

BitFlyer joins a raft of Japanese exchanges which regulators have demanded change their business practices as part of an industry-wide cleanup following Coincheck’s $530 million hack in January.

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US Congressional Members Ordered to Disclose Crypto Holdings

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The House Ethics Committee has informed all US Congress members that they must disclose any investment worth more than $1,000 as of June, 18. All lawmakers on Capitol Hill make an annual financial disclosure but a new memo has informed them that any cryptocurrency purchase or sale that exceeds $1,000 must be reported within 45 days.

Congress Must Disclose Digital Holdings

Cryptocurrency, and it’s most well known token Bitcoin, came to be as a means to disrupt the global banking system. Many of those who initially embraced it were distrustful of the government and saw using the fiat alternative as a way to keep control of their own finances without federal interference. As its popularity rose and then exploded in late 2017 people from all walks of life were pulled into the investment craze.

This new memo from the Ethics Committee means that the public will know if their member of Congress is trading in digital assets, even as regulatory rulings over their status are still being debated. Some see the decision as a way to protect against future conflicts of interest, as when voting occurs on any bill that may affect the way cryptocurrency is officially seen by federal regulatory bodies.

Representatives elected to Congress, and their staff have been required to disclose personal assets for decades, including real estate and investments. In 2012 that was tightened further to include a full disclosure of any holdings in stocks, bonds or derivatives by members of Congress or their family members. Now as investments in digital assets such as Bitcoin become more popular questions of how they should be reported have arisen since, in many cases, they remain unregulated and undefined by the federal government.

The recent memo from the House Ethics committee also included guidelines on crypto related side jobs. Members of Congress are limited to earning $28,050 from employment apart from their work in the house. The memo has informed them that this cap includes crypto mining.

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Bitcoin and PayPal Shake Bank Stocks, According to Jim Cramer

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Do you think banks are already being affected by the rising popularity of Bitcoin and other banking alternatives? Don’t hesitate to let us know in the comments below! 

Days after the Federal Reserve’s major announcement that it would hike short-term interest rates four times instead of three in 2018, bank stocks have failed to improve as expected. Jim Cramer shared his take on the matter, outlining the rising popularity of Bitcoin and other blockchain-based technologies as one of the possible reasons. 

Currently hosting CNBC’s “Mad Money,” Jim Cramer is a former hedge fund manager currently holding shares of PayPal, Amazon, Goldman Sachs, J.P. Morgan, and Citigroup. He shared his thoughts on the reasons for faltering bank stocks, despite the announcement regarding the hike of short-term interest rates.

‘Like Old-Line Brick-and-Mortar Stores’

One of Cramer’s main points is that plenty of young portfolio managers seem to think of banks as outdated institutions which are about to lose their credibility and authority to the emerging modern technological solutions. He explained:

There are plenty of younger portfolio managers who think the banks are like Sears and J.C. Penney: they’re old-line brick-and-mortar stores that are about to lose their relevance thanks to all sorts of new technologies from bitcoin, blockchain, PayPal [and] Square.

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Dash (DASH) No-Need-For-Regulation System

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Cryptocurrency Regulation

Crypto-regulation, specifically in NY – US, are becoming more tolerant on a daily basis. In less a week, the very rare Bitlicense was given two times by the regulators. The Bitlicense was launched in 2015 and has since received numerous complaints from entrepreneurs for the burden that it places on innovation.

In the other side, officials from South Korea are more hesitant when it comes to issuing regulations as it could signal that gov is recognizing the crypto-verse. Member of the National Assembly Committee – Park yong-jin added:

“We fully understand that the government is reluctant towards regulating the cryptocurrency market because it will inevitably lead investors to consider it as the government’s way of legitimizing the market”

But, the Committee member continued adding that the gov officials realized that regardless of what the regulators decide to do, crypto-enthusiasts and the cryptocurrency community will continue to grow which is why the market cannot be left unregulated at all.

Dash (DASH) being Different

One of the characteristics that makes Dash be set apart the other leading coins in the list by market capitalization, is its self-regulation side. Usually consumer protection reasons are those that make the gov officials regulate the market, like shielding from maligned interests or fraud. But, Dash is designed in that way which needs for regulators to step in are unnecessary.

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