The latest report of the European Parliament, modify the anti money laundering law, bitcoin market supervision or will start!

The latest report of the European Parliament, modify the anti money laundering law, bitcoin market supervision or will start!

The European Parliament (EP) recently released a new report, the first mention of the other digital currency bitcoin. To combat money laundering bitcoin has become an important goal of the European Commission (EC) 2017. The bitcoin market regulation will be put on the agenda.

Was elected president of the European Commission before, Jean-ClaudeJuncker has set out his policy priorities, the policy is likely to become the guidelines for the next five years the European commission. The bitcoin market supervision or will start.

Hold on “big event” mentality, Juncker lists ten areas in need of reform, to ensure that people can feel the concrete effect.

But this latest report is the first mention of the digital currency, called virtual currency.

Digital currency, bitcoin market in Europe

The European Parliament “focus in 2016” did not mention any figures or virtual currency words.

In this report, a virtual currency appeared in the fight against terrorism. This shows that the European market will start bitcoin regulatory or.

7 2016, the European Commission on the use of digital currency to make further strict management, plan to modify 2015 version 4 anti money laundering law, anonymous digital currency transactions end. May carry on the supervision of digital currency, virtual currency, bitcoin is production supervision may begin.

Mentioned in the report: the flow of funds to modify the anti money laundering law to protect certain high-risk third world countries, given the EU financial intelligence certain power, ensure that the central bank and payment account registration work, reduce the risk of virtual currency and anonymous prepaid card brings.

The anti money laundering law to establish more strict regulatory rules for bitcoin virtual currency, thus combating terrorist financing and anonymous payment purposes. Or will achieve the bitcoin market supervision.

At the end of this report, the European Parliament President MartinSchulz, President of the European Council and the European Commission Chairman RobertFico Jean-ClaudeJuncker said, “to protect the safety of the people” is their main goal in 2017.

One way to achieve this goal is “to improve the ability of combating terrorism, money laundering and terrorism financing, and digital currency just happened to be in the range to be hit”.

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Bitcoin investors new choice is the best hedge assets worldwide

Bitcoin investors new choice is the best hedge assets worldwide

Bitcoin is an alternative currency, and gold is similar, but because of the nature of the digital, available more bitcoin. Gold has always been used as money, but if you use an ounce of gold to the hotel room? It is impossible to complete the task. But bitcoin can do.

In early 2009, is also the beginning of the birth of bitcoin, it set off a revolution in financial technology. The bottom block chain become bitcoin financial technology world hot star. Interestingly, the block chain technology case is not limited to the financial sector, it is also in the inventory tracking, medical and authentication industry to flex its muscles. In the medical field, it can track with sensitive information; WAL-MART used it to carry out the pork supply chain tracking; it can solve the problem of identity theft, ensure the security of personal information.

But in essence, bitcoin is still a kind of currency. The initial purpose is to realize the birth of bitcoin monetary function. At present the most perfect bitcoin is the blockchain case.

In fact, the main factor is the price of currency devaluation. In the past two years, the relationship between RMB and currency price is obviously. Trading volume rose to become the China bitcoin trading center. As a hedge, bitcoin has become more and more popular, the average daily trading volume of China even more than the United States gold ETF. This phenomenon has attracted more and more institutional investors.

With foreign exchange and futures in the past decades, digital currency and assets will create new asset class for investors. If the monetary crisis cannot be effectively checked, institutional investors are likely to hold similar views.

The United States presidential election to a certain extent in order to attract more funds to return, so as to promote the country’s economic development, the idea is admirable, but there is a significant risk. The United States has capital inflows, which means that the market China development is faced with capital outflows situation. Over the past several decades, capital inflows become Chinese accelerant GDP, resulting in an increase of more than 10%. With the development of economy, enterprises, investors and China people accumulated a lot of debt, but this situation will be reversed.

Weakened liquidity brought economic instability, is likely to cause a persistent currency crisis, especially in asia. This situation is likely to attract more institutional investors bitcoin. In addition, people can also harm by Fiat to bitcoin. Despite the recent currency price volatility, but in the past two years, bitcoin has outperformed gold, its volatility is gradually weakened.

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Russia will ban bitcoin indefinitely

Russia will ban bitcoin indefinitely

Russian Deputy finance minister said the country’s central bank and the federal financial authority believes that the use of bitcoin encryption currency will not pose any threat. But the Russian bitcoin regulatory or will.

It is worth noting that the Russian Central Bank Vice President OlgaSkorobogatov said, the central bank once insisted on the implementation of bitcoin ban will no longer be on the agenda.

According to the Russian news agency TASS reported that the country’s deputy finance minister AlexeiMoiseev has been trying to ban bitcoin since 2014, now may be Russian bitcoin regulation. But now his ideas changed, the wait-and-see attitude of encryption currency.

In September 2014 he said: we will discuss this bill in the recent parliamentary meeting (bitcoin ban), is likely to be passed immediately, or at least in the spring force. We are currently waiting for the reply of the law enforcement agencies, they will determine the specific legal measures, their opinions are within the scope of our consideration. But the effect of this act is no suspense.

It seems that the Russian government is not implemented bitcoin ban, but likely to implement Russia bit ratio regulation.

Although the chairman of the Russian investigative committee AlexanderBastrykin said last year bitcoin “to China’s financial stability constitutes a major threat, but after a discussion over the past two years and experts, and other government agencies against the Russian Ministry of finance bitcoin ban, Moiseev told reporters today, bitcoin is not a threat. But the Russian regulatory bitcoin may.

He said: at this stage, we will develop a temporary fence bitcoin. We believe that for economic security considerations, the central bank and the financial authority should monitor the encryption currency. Russian bitcoin regulation may also, at present, the agency does not consider the bitcoin major threat. That is to say, the future of bitcoin may pose a threat, but does not yet exist.

The Russian government officials once insisted to release bitcoin ban, now the attitude has undergone a one hundred and eighty degree shift. There are provisions of the ban, any use of bitcoin in the territory of Russia, people are likely to face up to 7 years in prison. The ban is no longer implemented, the government implemented a wait-and-see policy, but the Russian bitcoin regulatory or will.

No longer ban bitcoin, bitcoin regulatory or will be Russia

In addition to the Ministry of finance, the Russian Central Bank Vice President OlgaSkorobogatova also said publicly that the central bank will not take any measures to prohibit the use of bitcoin. But will the Russian bitcoin regulation.

As a kind of private currency, bitcoin regulation is not simple. The supervision department and the government agreed not to ban bitcoin. On the other hand, we have to see it, and to establish a basis for regulatory framework. So the Russian bitcoin regulatory or will.

Prior to this, Moiseev said the use of bitcoin ban. Although bitcoin in Russia is likely to be regulated, but the mining and use of this encryption currency will no longer belong to illegal activities.

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The user can at any 7-Eleven Philippines convenience store trading bitcoin

The user can at any 7-Eleven Philippines convenience store trading bitcoin

Block chain company Coins.ph recently launched a service, users can be arbitrary in Philippines 7-Eleven convenience stores trading bitcoin. The whole process is very convenient, who can do it, Coins.ph Facebook also uploaded a video tutorial.

The original bitcoin transactions provide bitcoin trading opportunities for Coins.ph users who are unable to obtain financial services. At the same time, this method can further promote the use of bitcoins in the country.

For Philippines’s poor financial inclusion, this new product to those who do not have bank accounts or unable to obtain financial services groups to create opportunities. Anyone can exchange between cash and coins. Those without bank accounts can directly use the electronic trading platform, bitcoin as an investment tool, people can also benefit from the safety of funds to protect themselves.

Bitcoin in Philippines

Although Philippines is still a new bitcoin market, but its appeal is undeniable. From the volume point of view, today’s Philippines ranked twelfth, a total of 666.56?. 9 this month, bitcoin transactions in Philippines rose, January 12th is a record high.

The people of crypto currency interest can also see the trend from Google search. Bitcoin search volume reached the highest point in January 7th this year, when the currency price is more than $1000.

The Philippines government’s draft regulation precisely confirms the country bitcoin interest. Vice governor of Philippines’s central bank NestorEspenilla has publicly said bitcoin money laundering concerns, and to seek further consumer protection.

We are currently conducting related research, plan the virtual currency exchange operator into a more formal regulatory framework.

No bank account of the gospel

Although bitcoin’s ultimate goal is to replace the existing banking system, but we still rely heavily on these financial institutions to carry out exchange between bitcoin and bitcoin currency, after all, has not been universal. However, at present there are a lot of methods to allow consumers to bypass the traditional financial institutions, direct access trading service.

These methods include LocalBitcoins or Paxful P2P market, or even completely to the center of the Bitsquare market. Abra allows users to store their digital content on the mobile phone on the currency, through the Abra network or traditional bank teller routing approach, the money will be sent to all over the world to any mobile phone number, and these digital cash cash. Spare also created a similar bitcoin and cash exchange system, is a win-win for consumers and businesses.

Although the road is long, the bitcoin is not dependent on any central organization target products from the global currency has become increasingly closer. Like this kind of products provided by Coin.ph to ensure that the popularity of bitcoin, who cannot obtain financial services to users of the gospel.

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Israel acknowledged the legal status of bitcoin bitcoin’s upcoming tax

Israel acknowledged the legal status of bitcoin bitcoin’s upcoming tax

Israel now bitcoin community encryption currency in the legal status of the country have access to government departments to clarify. The country’s tax authorities recently announced that Israel and other bitcoin encryption currencies will be considered an asset and can be taxed. Israel will launch the Israeli bitcoin tax.

In many countries in the world, the legal status of bitcoin has been a gray area. Bitcoin is the same as the state of Israel, however, as the Israeli government to clarify their position on the encryption of money, people will now also be rule-based, ready to file the tax. At the same time, some of the encrypted currency community members worry that some prohibitions will make use of the high cost of encryption currency. Israel bitcoin tax is about to begin.

According to media reports, the Israeli tax bureau has been compared in the latest draft of bitcoin and other encryption currency tax rules are clarified in this paper. The agency said, in view of the country from the community multiple encryption currency requirements, the tax department decided on these tax provisions clarify crypto currency. However, it is unclear when the formal implementation of the provisions of the country. But it is certain that Israel will start bitcoin tax.

The Israeli tax bureau has clarified the encryption currency different from the financial assets or equity securities. At the same time, Israel will be taxed bitcoin, bitcoin, Israel encryption currency will not be regarded as a form of currency. If someone wants to sell their encryption currency, then the encrypted currency will also apply to the provisions of the 25% capital gains tax. At the same time, the transaction of encryption currency exchange will also have to charge 17% of the value-added tax (VAT), and then handed over to the government, as well as the enterprise income tax.

The new tax bill will increase the transaction cost of all encryption and the currency of this country, this will make some of the benefits of encryption currency does not exist. In addition, the implementation of the bill is expected to make the enterprise more difficult to accept encrypted currency payment. Israel will start bitcoin tax.

Israel bitcoin has proved himself to be as a form of currency. Israel will begin to levy bitcoin. This digital currency such as gold can satisfy all the properties of the ideal currency. But governments have been hesitant to give bitcoin due to currency, mainly because they are afraid of losing control of the national monetary system.

This situation is expected to continue for a long time, until a country woke up and decided to openly admit that bitcoin is a currency.

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Interpol held the latest digital currency in the Middle East Conference

Interpol held the latest digital currency in the Middle East Conference

    

International law enforcement agencies and government agencies will be held in the anti money laundering and digital currency conference this week.

Support of the conference institutions including the International Criminal Police Organization (Interpol), Europol (Europol), belonging to the Qatar Central Bank anti money laundering and anti terrorist financing Committee (QatarNationalAnti-MoneyLaunderingandTerrorismFinancingCommittee). The meeting place in the Qatari capital of Doha.

Local media reports, the central bank deputy governor, chairman of the financing of terrorism Committee SheikhFahadFaisalAl-Thani called for law enforcement agencies around the world closely.

“We hope this meeting can promote the ability of virtual currency research institutions, experts and practitioners to build the field of organization”.

Interpol has organized such meetings, even to the training needs of digital currency developed.

Last March Interpol organized the four day war game and Simulation of virtual characters blackmail bitcoin scene, more than 60 countries participate in law enforcement personnel.

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The implementation of the cash to the government of India, the central bank began to study the block chain technology

The implementation of the cash to the government of India, the central bank began to study the block chain technology

   

Block chain technology will lead India to cash?

In the India government to implement its controversial territory to cash plan at the same time, a group of researchers to the requirements of the central bank to block chain can help to achieve the goal of investigation.

The Reserve Bank of India (ReserveBankofIndia, RBI) in 1990s to set up a technology research and Development Bank (InstituteforDevelopmentandResearchinBankingTechnology, IDRBT). Last week, the Institute published the first important block chain (white paper related details including trade financing application testing).

In addition to the overall overview of block chain technology and its potential use in the structure of the banking industry in India, the white paper also pointed out that the current assessment of the national currency of India is how to achieve the best books distributed by RS digital timing.

NarendraModi

The prime minister Narendra Modi (NarendraModi) led by the government of India for its start in early November the large bills to abolish the action has been widely criticized. Later, Modi has developed a two pronged plan: at the end of the month, he called on the people of India to accept digital currency; the government of India to amend the law, to assist the implementation of the plan.

Research on technology development bank that can help to achieve the goal of chain block.

The report highlights the successful case of Canada, the Bank of England and other countries.

The authors wrote:

“From a technical point of view, we believe that (block chain) are mature enough, stakeholders awareness is enough, therefore, now is the full digital India rupee the best time.”

road map

The authors also suggest broader India banking sector to try other methods of experimental block chain technology.

First of all, the report suggested that banks consider the establishment of internal block chain network of their own, can help achieve training objectives, and as a test of the block chain technology means.

According to a report:

“The bank can establish an internal use of private block chain. This not only helps them block chain talent training, at the same time to ensure the efficient asset management and cross selling profit opportunities.”

Research on Technology Development Bank said further, based on this, banks can work in AML/KYC, a joint loan and trade finance field.

The authors added:

“In the banking and financial services (BFSI), to other areas favorable BCT application will include supply chain financing, bill discount, union account monitoring and task management system, security service.”

Footprint block chain technology in India

In view of the latest development of block chain technology, the research team will require more extensive use of block chain in India’s financial sector, it is perhaps not surprising.

Last summer, the Reserve Bank of India has called for the study area of domestic banks chain, research and development of banking technology cooperation in the development of possible applications.

RamaGandhi

Deputy governor of the Reserve Bank of India RamaGandhi in a speech on July that:

“Virtualization, cloud computing, block chain processing technology and information technology system has unlimited potential based on large-scale use. The bank can research and Development Bank Technical Cooperation, research and development testing and best use.”

In the middle of 2015, India’s central bank officials pointed out that digital currency can not only strengthen the anti money laundering efforts, can also improve financial inclusion, reduce payments friction.

Since then, many private stakeholders outside the financial institutions and banks started to explore the blockchain cases, using the technology of product development.

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Bitcoin blockchain technology be the first key block chain technology supervision!

Bitcoin blockchain technology be the first key block chain technology supervision!

BBVA (BBVA) chief economist JavierSebastian in a recent research report pointed out that the legal framework needs to create a definition of the legal nature of the block chain technology. To supervise the blockchain technology, bitcoin blockchain technology first become the focus of regulation.

The main task of Sebastian is to BBVA to judge and analyze the digital economy trend, he said the blockchain technology may become a powerful tool to improve the efficiency of the bank.

The implementation of the contract by the invariance of intelligence, transparency and automation features can lay the foundation for new digital business.

BBVA has been one of the bitcoin block chain technology support mechanism. It has invested in Coinbase, and is also a founding member of R3CEV block chain alliance, also held the financial competition.

Bitcoin occupies the core position, bitcoin block chain technology is a key regulatory target.

One of the most important factors to influence the use of regulatory blockchain technology widely used. But because bitcoin is the only example of block chain flexible application in the real world, so the regulation debate focused on bitcoin. So bitcoin blockchain technology first.

It is understood, because bitcoin is seen in some countries for the digital currency, and is seen in other countries for the goods, so the first step in the tax treatment is to coordinate the bitcoin transactions. The sales need to pay value-added tax (VAT).

In October 2015, the European Court exempted from VAT bitcoin transactions.

The next step is to prevent the use of bitcoin money laundering and the financing of terrorism. Block chain supervision, bear the brunt of bitcoin block chain technology.

In July 2016, the European Commission proposed joint follow the “anti money laundering directive” digital wallet providers and currency exchange platform to prevent anonymous bitcoin exchange.

According to reports, this week, the European Parliament and the European Council recommended a revision on the prevention of money laundering and terrorist financing directive, the directive will require electronic currency exchange and wallet identify suspicious activities, including the identification of bitcoin users. Bitcoin blockchain regulated technology.

Block chain become the focus of regulation

According to the research, supervision and other use of the block chain technology, will have a greater destructive effect on financial services, which is at a standstill. However, the unique characteristics of block chain technology based on different cases, there are some common problems.

As an important use case blockchain technology, bitcoin blockchain bear the brunt of technical supervision.

For example, distributed and global characteristics of the blockchain make creating a legal framework to define its legal nature become necessary, including the applicable law and on error responsibility assessment.

In addition, the blockchain immutability led to it as not falsifiable “the only source of truth” this understanding of the debate, as well as the evidence of the existence and the legal effect of stored documents and intelligent contract as valid legal agreement debate.

The data in the report, opinions and views without BBVA independent verification, are based on common estimation method.

Research on the supervision continues

Study on the mechanism of Spain’s foreign bank last month issued a report on the financial services chain block using the work file, expounds the supervision, operation and technical challenges. Bitcoin blockchain technical supervision has been as the focus.

The paper points out that due to the lack of supervision, supervision problem so far has been ignored, but they also gradually aroused attention in, because the research is the necessary conditions for large-scale use.

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Foreign users of bitcoin OTC has great influence China bitcoin market!

Foreign users of bitcoin OTC has great influence China bitcoin market!

Transactions in the Chinese exchange on the part of the user, but they are not Chinese. Many foreign traders (even a lot of “Zhuang” class) also traded here.

In addition, rumors, dollar denominated by over-the-counter (OTC) of bitcoin OTC, than exchange transactions to more. This means that the exchange amount, whether it is Chinese market or in other markets, may be just the tip of the iceberg.

Because a lot of people in the bitcoin OTC, because it is more convenient and more intimate.

There is no doubt that the price impact China market transactions bitcoin is huge. If Chinese market demand for bitcoin dried up, so the price of bitcoin would have been a major blow.

But the trading volume Chinese exaggerated, false conclusions will lead to the value of bitcoin completely from China investors. After all, there are many foreign traders in bitcoin otc.

It really is, China influence in the field of Internet is increasing. The most profitable bitcoin companies in almost all Chinese, it was not an accident. Here the startups and investors are aware of the bitcoin unique utility and historical importance. Speculative potential bitcoin is secondary.

In the worst case: if Chinese exchanges were closed, tired or Chinese traders bitcoin, and transferred to another asset speculation, bitcoin will not disappear. A lot of people will bitcoin OTC, its value proposition is very strong. Before the emergence of these possibilities is extremely low, bitcoin will continue to grow in China.

Chinese traders bitcoin interest will always is a key factor affecting the price of bitcoin. But in view of the increased China influence in the world, it is also suitable for any kind of assets, goods or currency.

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