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Florida Court Appeals For Bitcoin To Be Considered As Legal Tender

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The Florida Third District Court has appealed earlier this week for Bitcoin to be considered as a legal tender since the number one asset does not correlate with the definition of money but still acts as a medium of exchange. In our bitcoin news below in the text, we are about to find out more.

Michell Espinoza, a resident of Miami Beach, was charged back in 2016 with two counts of money laundering because of operating as an unauthorized money transmitter while it was trading on the website LocalBitcoins.com. Teresa Pooler, the judge in the case, dropped it saying that Bitcoin is not considered as money according to the law in Florida.

Now, however, the Third District Court in Florida has taken the Espinoza case again and argued that despite the fact that Bitcoin is not proper money, is a medium of exchange and should be considered as a legal tender.

Since the beginning of Bitcoin, there are hundreds of debates about whether the asset should be considered as money. BTC users claim that Bitcoin is real money and argue that it can be used as a medium of exchange but that it can also be used as real money. The people who argue that bitcoin cannot be considered as money, state that Bitcoin is much more close to gold because of its constant fluctuating value and that it should go under security laws.

Despite the debates, some countries such as Venezuela, have already recognized Bitcoin as a legal tender.

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Regulation

Democratic US Presidential Candidate Advocates For Clear Crypto Regulations

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us presidential candidate
The Democratic US presidential candidate for the 2020 elections, Andrew Yang, has recently called out for clear regulations on digital assets. As Yang revealed, the key operative points were carried out in a policy published on his campaign website. For those of you who don't know, Andrew Yang is featured in our latest cryptocurrency news and is known to the world as an entrepreneur who contributed $120,000 towards the establishment of Venture For America (VFA) which is an accelerator that is aimed towards building new startups in emerging cities. He is also an active US presidential candidate and as part of his campaign - stands for the implementation of cryptocurrency and digital assets regulation in the country. As the release notes, Yang outlined that the government has failed to develop and launch a national framework for regulating digital assets, while several federal agencies claim other conflicting jurisdiction. However, as a US presidential candidate, Yang stresses the obvious need to define how digital assets need to be treated and regulated so that investors could proceed with all the relevant information.
“We should let investors, companies, and individuals know what the landscape and treatment will be moving forward to support innovation and development. The blockchain has vast potential," Yang said.
The US presidential candidate Yang is definitely one of the many big names calling out for crypto regulation. His act definitely moves the waters and introduces certain regulatory certainty for businesses and regulators in the United States. He further pointed out that both crypto and digital asset markets develop faster than regulations can keep up. Featured on many best cryptocurrency news sites for his crypto-positive statement, Yang continued:
“Create clear guidelines in the digital asset world so that businesses and individuals can invest and innovate in the area without fear of a regulatory shift."
With this the US presidential candidate proved that he is interested in cryptocurrencies and wants to be recognizable in the world of crypto. In January, there were reports showing that the US States Senator and cryptocurrency critic Elizabeth Warren had announced her bid for president in 2020. Speaking at a Senate Bank Committee hearing in October, Warren asserted that “the challenge is how to nurture productive aspects of crypto with protecting consumers.”    
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Regulation

Andrew Yang Democratic Candidate Advocates For Clear Crypto Regulation

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andrew yang
Andrew Yang is the Democratic United States presidential candidate for the upcoming 2020 elections and he is a strong advocate for better crypto regulation. Yang made multiple points on digital assets policies on his campaign website that we are looking into further in the coming altcoin news. The article on the website explains how the government failed to launch a national framework for digital currencies. Andrew Yang claims that some of the federal agencies have conflicting jurisdictions. Andrew Yang is an entrepreneur who donated up to $120,000 to establish Venture for America which is basically a booster for new startups. He is now running for president in 2020. His presidential campaign is based on the implementation of crypto and digital assets into the country and their regulation. In the press release, he pointed out that digital assets should be treated differently and regulated in order to ensure investors they have all the relevant data they need:
 “We should let investors, companies, and individuals know what the landscape and treatment will be moving forward to support innovation and development. The blockchain has vast potential.”
On the website, you can also see that Andrew Yang pointed out that cryptocurrency and digital assets markets are developing quickly and the regulatory bodies cannot follow the fast development. As we can read in the latest cryptocurrency news, he also pointed out:
 “Create clear guidelines in the digital asset world so that businesses and individuals can invest and innovate in the area without fear of a regulatory shift.’’
Back in January, the United States Senator and well-known crypto critic Elizabeth Warren made an announcement for her presidential run in 2020. While she was speaking at the Senate Banking Committee hearing back in October 2018, she stated that ‘’the challenge is how to nurture productive aspects of crypto with protecting consumers.’’ Elizabeth Warren also made clear that the average American consumer could become a victim of a crypto scam. As for Andrew Yang, he announced his candidacy in the 2020 elections in November 2017. At the start of this month, representatives Darren Soto (D) and Warren Davidson (R) introduced the Token Taxonomy Act. This reintroduced act will exclude cryptocurrency from being classified under security. The act also enables the introduction of regulatory certainty for regulators and business in the US blockchain industry. It also clarifies the relationship between government initiatives and regulatory rulings. As for Andrew Yang, we wish him good luck.
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Regulation

US Federal Jury Convicts Two Romanian Cybercriminals Of Cryptojacking

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Two Romanian citizens were convicted by a US federal jury of using malware to steal credit card credentials and to mine cryptocurrencies. In the coming altcoin news, we read more of the court’s decision. According to an announcement from the United States Department of Justice, the two Romanian used malware in order to be able to perform cryptojacking and to steal credit card data. The suspects stole other data as well which was later sold on the darknet markets but also they engaged in online auction frauds. Per the Department’s reports, Radu Miclaus, 37 and Bogdan Nicolescu, 36, were convicted by the federal jury after a 12-day trial. Both of the cybercriminals were charged with wire fraud, aggravated identity theft, conspiracy to traffic in counterfeit service marks, conspiracy to commit money laundering and more than a dozen other accounts related to wire fraud. Both of them should be sentenced on August 14th in the Northern District of Ohio. The criminal activities were conducted from Bucharest, Romania by both cybercriminals, and one other person who also pleaded guilty. The malware was developed a long time ago in 2007 and was spread via emails. The emails posed as legitimate communications from companies such as Western Union and Norton AntiVirus. Per the press release, the recipients who were unlucky enough to click on the attached file got their malware on their device. The malware harvested email addresses from the victims’ devices and managed to spread the malware to millions of users. The virus redirected traffic to websites such as eBay, PayPal, and Facebook to almost identical websites for phishing. Finally, the case was under a joint investigation by the Romanian National Police and the US Federal Investigation Bureau. As previously reported in the best cryptocurrency news site, crypto frauds are circling the crypto industry after the bitcoin wallet service Electrum got under attack and lost millions of dollars. An AT&T Cybersecurity report shows that cryptocurrency mining activities are the most targeted objectives of hackers. Also, at the end of March, the Trojan Malware for android phones turned out to target users of apps such as BitPay, Coinbase, JPMorgan and Bank of America.
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Regulation

Is China Going To Ban Crypto Mining?

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On April 9, the coming altcoin news showed that many coins are mined in China - and that the Chinese government agency is considering the elimination of crypto mining in the country. Since China has been hosting the majority of mining pools on its land, the global crypto industry is definitely taking a big hit if something like this happens. According to the reports by Reuters which are in the latest cryptocurrency news, Chinese authorities have been spearheading the "blockchain before Bitcoin" approach since 2017 and the country's initial coin offerings (ICOs) ban which also banned traders from trading on crypto exchanges. As of now, people in China are eligible to hold cryptocurrencies but are prohibited from trading them. The mining industry has also been subject to regulation of this kind. In February 2018, CNN Money published a report in which the Chinese government pushed crypto miners to make "an orderly exit" from the industry mostly due to tax issues and mining, both of which were seen as dangerous for the environment. Another article published on Quartz a month earlier stirred the atmosphere and showed that the country's top internet-finance regulator which is the Leading Group of Internet Financial Risks Remediation, has ordered local authorities to use all of their available options including “measures linked to electricity prices, land use, tax, and environmental protection” - to force miners to shut down their business. In response to this crackdown, some of the largest mining players in China chose to move shop or even change their main line of business. For example, the Chinese ASIC chip manufacturer and mining outfit Bitmain has been experiencing significant difficulties caused by the bear market - and decided to turn to artificial intelligence (AI) as an alternate revenue source. “As a China company, we have to be prepared,'' Bitmain's chief then said. The company also planned to relocate to Texas but had to cancel its plans due to the market collapse which occurred earlier this year. If implemented, the new ban is likely to have a strong impact on the global crypto industry. In such case, part of the mining economy could move underground but the overall scope of mining operations won't be the same for China. DC Forecasts is proud to be among the best cryptocurrency news sites in 2019. We welcome you to read our latest Bitcoin news, analyses and more!
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