Arizona promoting bitcoin payment bill

Arizona promoting bitcoin payment bill

Advance a legislative proposal of Arizona state legislator, may allow a resident of the state with bitcoin payment tax.

The media reported earlier this month, the Arizona legislature received legislative proposals, if approved, the taxpayer can use tax payment in bitcoin or other encryption currency. Bill dated January 9th.

Display the contents of the bill:

“Upon receipt of tax, the IRS will be in accordance with the mainstream exchange rate within 24 hours, the encrypted currency into dollars. And after the exchange of dollars in taxpayer accounts”.

Public records show that last week the Arizona Senate Finance Committee has to 4-3 through the move. The bill was in the Senate rules committee approval stage, but the finance committee will increase the possibility of bill endorsement.

The conversation with the local media in ABC15, a state senator, Bill drafting WarrenPetersen, and feedback from voters act requirements.

“Since I started working, I was surprised by the number of encryption currency holders more, than you might guess”.

Isolated witness will activate in the bitcoin network

Isolated witness will activate in the bitcoin network

Isolation of witness (SegWit) has entered the lock up period!

In August 8th UTC, the expansion and upgrade of the proposal finally stepped into the necessary “lock up” period, to meet the activation threshold of 479707 blocks, bitcoin mining pool all in the sign of support for this bill.

Network data show that the block is composed of BitClub dig.

However, this change will not be formally locked before tomorrow, wait for the signals the end of the period.

In addition, this change temporarily or not available. As bitcoin86 in the previous reports pointed out,

But even if this change into the lock up period, bitcoin will not upgrade overnight, there are two reasons:

1. because the isolation witness have a 2 week “grace period”, the new deal in 481824 blocks will not “activate” change is expected in August 21st.

2. although the lock up period can ensure isolation of witness to become part of the network, but bitcoin server still need to update their software, to support the new way of trading.

In August 21st (expected) update, the network will begin to change those who do not support the isolated block.

Isolated witness was first proposed in December 2015, the developer is PieterWuille. He is expected to witness the isolation, a new way to open up several expansion of bitcoin, to support more users.

Although this looks not what good point, but in fact it has been the bitcoin community tireless debate.

Today, the isolation witness locked in the bitcoin network.

Japan quickly embrace bitcoin payment 26 thousand stores to support bitcoin payment

Japan quickly embrace bitcoin payment 26 thousand stores to support bitcoin payment

Recently, two Japanese retail enterprises will soon be announced to accept bitcoin payments, this move may encourage the Japanese domestic consumers to use more bitcoin and other virtual currencies.

BicCamera and BitFlyer cooperation

Japan’s large-scale comprehensive shopping center is located in Tokyo BicCamera and BitFlyer cooperation. BitFlyer operates the largest bitcoin exchange in japan. This Friday, they will start at BicCamera’s Tokyo flagship store is located in Shinjuku, Dole and BicqloBicCamera began the trial of BitFlyer bitcoin payment system.

The bitcoin payment system allows customers to use other encryption currency bitcoin payment of up to 100 thousand yen bill ($904), and will also receive cash bonus points and the same. BicCamera can according to the trend of the use of two stores, continue to introduce bitcoin payment system in other places.

Recruit group to cooperate with the Coincheck

Human resources group recruit group (RecruitHoldings) the retail support department is carrying out cooperation with Tokyo another bitcoin exchange Coincheck. This summer, in the AirRegi system stores, virtual currency will become a new way to pay. At the store sales settlement program RecruitLifestyle by the company recruit group development.

Customer can use the store to provide the tablet computer or other device, as well as their own intelligent mobile phone, you can deduct the bill from the specified bitcoin account. Coincheck will be responsible for bitcoin converted into yen, then put the money into the store.

The application of AirRegi system in Japan about 26 000 restaurants and various retail stores. Enterprises choose to install bitcoin payment system in the original payment system. The application also supports Alipay’s visit to Japan, the China tourists use convenient. Add bitcoin payment will further enrich the tourists.

Support bitcoin payment outlets increased to 260 thousand

At present, Japan has only about 4500 stores to accept bitcoin payments. In addition to the cash payment, Suica, Lotte Edy and other electronic payment has become the main use of market maturity payment.

AirRegi and BicCamera support bitcoin payment, to support bitcoin payment stores increased to 260 thousand, close to 380 thousand Suica outlets, and Edy 470 thousand outlets.

According to statistics, there are more than 20 million people worldwide use bitcoin, the monthly trading volume has increased to 12 trillion yen, but more than 80% users gathered in North America and europe. The use of bitcoin is mainly for investment transactions, of course there are visitors to use bitcoin payment, because tourists can exchange money without payment.

The Japanese authorities hope to improve the convenience of tourists to visit Japan by bitcoin, the way to stimulate domestic consumer desire to buy. In addition, from July this year, Japan will bitcoin trading from the consumption tax, which may give the Japanese domestic virtual currency market boost.

Alaska California proposed legislation to strengthen supervision bitcoin bitcoin transactions carried out to ask permission

Alaska California proposed legislation to strengthen supervision bitcoin bitcoin transactions carried out to ask permission

Recently, according to foreign media news, California Alaska lawmakers are looking to strengthen supervision of the bitcoin method. Lawmakers tried to establish related law about the currency exchange bitcoin, bitcoin companies to apply for bank requirements and the U.S. Securities and Exchange Commission approval, to exchange bitcoin trading business.

3 local time June 15, Alaska California Senator KitoFansler introduced to the media, the House bill 180 could make more bitcoin exchange, electronic money storage and transmission companies emerge, promote such company to increase user interaction and communication based on the method of economic and trade with the United states.

If the bill is passed, the existing relevant bitcoin trading companies need to submit a license application to the state bank and securities commission.

The House bill No. 180 to determine the definition of “electronic currency” through legislation, it will expand the scope of the original electronic money.

It is worth noting that the California area Alaska was instrumental in pushing a digital currency account into the legal regulation act. The House bill No. 180 is the follow-up of the bill.

The new bill highlights the dual direction of legislation in different regions of the United States to regulate bitcoin problems.

In the state of New York and other regions, strengthen supervision bitcoin new regulations have emerged, including the regulations according to the existing technology to update the content. In contrast, in places like New Hampshire, state officials tried to apply for tax exemption for bitcoin traders.

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.

If you want to know more bitcoin related, with “money said” WeChat (micro signal: bishishuo), note: BtcTrade. Before entering the official exchange group.

The central bank hired personnel of research and development of digital currency

The central bank hired personnel of research and development of digital currency


Recently, the people’s Bank of China printed scientific research published by the recruitment information, technical talent recruitment into R & D digital currency.

The 6 position in the architecture design and development of hardware and software system of 5 jobs is mainly engaged in the digital currency and the underlying platform, with the system architecture design experience, block chain technology development and application experience, big data platform development experience is preferred; the key technology used in 1 position mainly research on digital in currency, symmetric and non symmetric encryption algorithm, encryption and authentication etc..

Then, the central bank introduced a digital currency has no timetable? Notes and digital currency can exist in parallel? No money era has really come?

What do the central bank.

An Internet Financial Research Institute of Financial Research Center staff told the “international finance” reporter, “the central bank to block chain technology and digital currency attaches great importance to.”

In January 2016, the central bank held a symposium on digital currency, the central bank governor Zhou Xiaochuan made it clear that the central bank is very concerned about the development of digital currency, “began very early on”.

According to the reporter, in 2014, the central bank set up a special team to issue legal digital currency, a prospective study of digital currency related issues, the central bank issued the legal feasibility of digital currency. In 2015 the Central Bank of the digital currency and operational framework, digital currency key technology, digital currency circulation environment, digital currency facing legal problems, digital currency on economic and financial system, the legal effect of digital currency and private issuance of digital currency relations, international digital currency issuance experience further study, form a series of research report to the people’s Bank issued digital currency, the central bank issued a legal prototype scheme of digital currency has completed two rounds of revision.

The first quarter, Zhou Xiaochuan accepted the media interview, talked about the development of digital currency.

In his opinion, as a generation of currency notes, low technical content, from the point of view of safety and cost, is the new technology and new products to replace is represent the general trend. Especially with the development of the Internet, global payments have undergone tremendous changes, the establishment of circulation system of digital currency, finance for infrastructure construction, promote economic quality and efficiency upgrades are necessary.

Digital currency launch schedule?

Zhou Xiaochuan said, “now we can not say that digital currency, even if the implementation schedule”, “digital currency notes and will still be in a long-term coexistence”.

The central bank digital currency Institute preparatory group leader, deputy director of the division of science and technology Yao Qian recently in an interview that, “launched legal digital currency should be in line with the principle of gradual and orderly progress steadily, can choose one or two closed application scenarios (such as bill market etc.) the first test, observe its effect, the gradual accumulation of experience, at any time to improve and perfect, to be mature after the promotion.”

According to Yao said before, the central bank research group “every day in the discussion and deduction of digital currency problems in circulation, overtime is a homely food. The preparatory team including both technical experts, some experts in financial field.”

As of now, the central bank issued a legal prototype scheme of digital currency has completed two rounds of revision, the core elements can be summarized as: “a coin, two base, three centers, including digital currency base, commercial bank database, authentication center, registration center and large data analysis center. The user through the client security chip based on the use of digital currency. These research results have already been submitted a patent application to the State Intellectual Property office.

What is the direction of organization

Not only the central bank in action.

At the beginning of June, the central bank regulatory agencies and representatives from 90 countries including Chinese representatives gathered in Washington to attend the sixteenth session of the Fed’s headquarters, financial sector policy challenges the international conference, meeting for three days, during which the delegates listened to the report on block chain technology.

The theme of the conference is: “changes in the financial technological transformation of financial industry”. At the meeting, the delegates introduced their progress in the exploration of the blockchain last year and digital currency technology, and put forward their own exploration problems for discussion.

The world bank website, two Chinese CBRC representative and a representative of the Bank of Chinese was invited to attend the meeting, including China CBRC Shanghai regulation Secretary Liao Min. Chinese Hongkong has two representatives of the participants.

Analysis pointed out that in the high level meeting of the central bank, Central Bank of 90 representatives to discuss the blockchain, but for the first time in history, highlights the importance the blockchain has been recognized by financial regulators.

Compared with the central bank that regulatory agencies, non-governmental organizations to use the blockchain more flexible, more exchanges, banks and other financial institutions have carried out test and application test.

2016-2020 years block chain technology research and investment forecast, “the investment adviser Industry Research Center released” shows that in 2015 the global total digital currency block chain investment since 65, to disclose the amount of $490 million, an increase of 35.73% compared to 2014 a total investment of $361 million, total financing amount exceeded $1 billion, major companies such as Ripple, Blocksteam, Chain, DAH, Circle etc. the size of the financing of more than $50 million.

UBS, Deutsche Bank, Bank of Santander, Bank of New York Mellon, and brokers (ICAP) developed the first “multi currency settlement” (utilitysettlementcoin), for in early 2018 to put it into commercial; Citigroup is on their own “Citicoin” solution; Goldman has almost instantaneously allowing the transaction the settlement of the “SETLcoin” patent; JP Morgan (JPMorgan) in advance of similar projects; blockchain investment firm Coinsilium in London Stock Exchange Derivatives Exchange (ISDX) trading of initial public offerings (IPO), the company became the world’s first block chain technology successfully listed; ant gold suit announced the blockchain coming online. First of all, used in the Alipay donation platform; recently, China Bank (601988, shares) Hongkong branch has been in the mortgage of the real estate assessment test uses a block chain system, and plan together with HSBC to provide loans in Hongkong block chain technology services based on mortgage loans.

What is the use of chain block

Whether the central bank or financial institution, the present study is based on block chain technology.

In 2008, bitcoin developer Nakamoto in the “Bitcoin:APeer-to-PeerElectronicCashSystem” was first put forward the concept of chain block. Nakamoto So believes that the block chain technology is the foundation of technology encryption transmission bitcoin transaction information and data structure.

In simple terms, is a kind of distributed block chain to the center of the charge sharing technology, it is the thing to do is to let the parties involved to establish a trust relationship in the technical level. Huo Xuewen of secretary of Party committee of the Beijing Municipal Finance Bureau believes that the block chain has become the underlying technology of financial technology.”

Bitcoin as an example, the blockchain is “a collection of all bitcoin transactions total history books”. Each page of each block is the books, including a number of transaction records, whenever there is a new transaction, the transaction information is marked on a time stamp and a block of related information, and then generate a new block, a new block in the whole network consensus, in accordance with the the time sequence is added to the main block in the chain.

China Financial Academy of Social Sciences researcher Yang Tao believes that from the perspective of financial technology, block chain not only brings new financial operation mode, and vice versa for technology innovation provides important financial scenarios “”.

At present, the blockchain scenario is reflected in many aspects. First of all, the field of payment. This is the original application Gerbaud (Ripple) system. Founded in 2012, based on the Ripple block chain (distributed books Accounting) technology, mainly to provide cross-border payment services. This system is mainly to solve the cross international payment of low efficiency and high cost problems; secondly, the field of credit. Block chain technology with low cost to solve the problem of trust in financial activities. In addition, the blockchain technology can further promote exchanges do open, sharing, can not be tampered with, especially through the block chain technology put a lot of social transactions into the regulation and supervision.

“As long as the use of the logic of equality + consensus projects, can be the blockchain category. In theory, the block chain can be applied to all systems. This is probably the biggest value chain block.” CITIC Securities (600030, shares) analyst Xiao Feifei believes that in the application, development of block chain should be a “short and long-term steady development, three target cooperative forward” pattern.

Secretary Chinese Internet Financial Research Institute of the people’s Bank Financial Research Center Wu Xuchuan believe that the current block that application of this technology chain is infinite possibility in the tip of the iceberg, the continuous development of the block chain can bring revolutionary influence to the bank, medical insurance, notarization, digital copyright, networking and other fields.

As a financial innovation more prominent achievements, blockchain is profoundly changing the financial industry, on the other hand, as a new technology, but also need to guard against the risk.

The past financial systemic risk, is more concerned about the “too big to fail”, but in today’s Internet era, taking into account the network effect of the Internet financial activities, also want to consider “fail” problem. In addition, from the non system risk, the risk of different participants need to pay attention to manufacturing, as well as the parties need to face the risk, such as personal financial consumer protection, risk identification, risk prevention oriented financial technology platform for the enterprise level, such as illegal fund-raising, financial risk management etc..

Huo Xuewen believes that the blockchain era still must do the traditional financial services, Internet financial innovation services and financial supervision services, especially to guard against financial risks. If we do not regulate block chain technology, it will become the source of illegal financial activities.

The cloud makes bitcoin value soaring trend of miners

The cloud makes bitcoin value soaring trend of miners


Although the etheric Fang foundation team is working to improve the block chain, but the encryption currency of the world continue to develop. In order to support its claim, mineral company Hashflare lists three positive trend bitcoin is happening in the world.

The cloud makes bitcoin value soaring trend of miners, the reaction of the market demand

1, available in Japan bitcoin payment bill

Hashflare said: “the price of bitcoin will continue to grow, because Japan announced its new policy to accept bitcoin payments for utilities. This is an important stage in the development of encryption currency, because it means that the trust interests and growth, which will have a positive impact on bitcoin value.”

Accordingly, the company said recently ResuPressInc. announced that the company bitcoin payment service Coincheck, the company said it has partnered with Mitsuwa industrial limited company, allow Japanese users to use bitcoin to pay electricity bills. Will be launched in November 2016, when the service is running after bitcoin users can save the cost of 4-6%.

2, Wright currency value soared

The miners also believe that the crypto currency Wright currency value soaring is a factor to make bitcoin more valuable. It said: “the Wright currency price growth is unstoppable. According to many encryption currency market, China investors seem to be very interested in digital. Considering the lack of global Scrypt hardware user, we can be sure that the value of Wright currency will continue to grow.”

After the Gadex, Wright currency prices surged in August, Coinbase added Wright currency of US dollar transactions. A new integration means that customers can now exchange coins Wright, both for bitcoin, but also directly for dollars.

3, the legal currency devaluation

Some of the global currency, especially the pound, and did not perform well, close to the 31 pounds to the lowest. When the pound began to drop in the value of the deal, Brexit from the vote since the trouble seems to have deteriorated. Like most of the world monetary system, which is based on debt. This is another reason that bitcoin soared in value, Hashflare said:

“Due to the edge of the political and economic changes, many of the classic currencies (such as the dollar, euro or pound) struggling and losing its value. This is one of the main reasons and Wright currency bitcoin development in the global scope.”

Bitcoin is valuable, because of the different currency, it as an independent currency value depends entirely on the market demand.

Block chain support act passed by Congress to vote

Block chain support act passed by Congress to vote

The house has already passed a call for national science and technology innovation policy is not legally binding legislation, including support for digital currency and block chain technology.

The bill was proposed in July, calling for the U.S. government to draft a national policy on science and technology, but also specifically mentioned the digital currency and block chain. The bill is by the state of Indiana on behalf of AdamKinzinger and TonyCardenas with the drafting of the representatives of the state of California.

This afternoon, the bill passed the vote, also issued a notice. Although not legally binding, but the method may be that Congress will digital currency and block chain technology put on the step of the agenda.

The bill is to discuss the technology of the House Committee on energy and commerce, and from supporters of the comments that members of the house are also interested in this problem.

Texas Republican Representative MichaelBurgess said:

“There is no doubt that the technology innovation chain block technology is the most advanced.”

To the end of the next parliament election on November, then it will put forward the relevant substantive and bitcoin blockchain bill remains to be seen.

However, today a bipartisan bill passed by the members of the joint show that the scheme will be further promoted in the next year, whether in the house or in the senate.

The EU will introduce anti-terrorism anti money laundering law, bitcoin in the proposal

The EU will introduce anti-terrorism anti money laundering law, bitcoin in the proposal

EST on July 5th, the European Commission for bitcoin and prepaid cards launched a new anti money laundering regulations proposal, exposure to stage combat terrorist attacks in Paris and Panama \ terrorist money laundering and tax evasion and other issues.

Last November 13th’s terrorist attacks on Paris practice, terrorists have to use a prepaid card. In order to prevent similar incidents in the European Commission released a new anti money laundering bill. The intent of the resolution to improve the national bank account supervision and trust ownership transparency, strengthen the information sharing among European financial think tank, so as to realize the real-time monitoring of suspicious transactions.

The proposal shall not rechargeable prepaid card recharge threshold will be from the original 250 euros down to 150 euros, and led to the virtual currency bitcoin will be included in the anti money laundering law at the same time, a virtual currency platform will need to verify the user’s identity and virtual currency transaction monitoring.

If the proposal is passed, the EU Member States will require the central centralism registration center to cover all the bank and the account owner information. When a suspicious event occurs, the national authorities will obtain relevant information through the registration center. The European Commission Chairman FransTimmermans said: “the terrorists this proposal will help the government to track hidden money to implement criminal activities. Members can share key messages to each other, for example, who is the real owner, a trust fund who is implementing online transactions and use prepaid cards.” If the vote, the bill will come into effect at the end of this year.

At the same time the system loopholes for tax evasion, the Commission has put forward the corresponding proposal. The bill would give the tax institutions to obtain information on anti money laundering rights, and strengthen the supervision of automatic transaction information to the company and trust among the owners, in order to solve the problem of tax evasion by Off Shore Company. In addition, the proposal also strengthened the tax consultant to audit, improve the legal protection for whistleblowers.

At present, the EU is the establishment of a regional regulations do not comply with the EU tax institutions blacklist institutions on the list will be subject to sanctions. The EU said: “I hope to strike the three radical tax system through the establishment of the blacklist.”

The Russian Ministry of finance to withdraw bitcoin ban, but not sure whether the future

The Russian Ministry of finance to withdraw bitcoin ban, but not sure whether the future

According to the opinion of the Ministry of justice, the Russian Ministry of Finance for the so-called currency substitutes (including digital currency bitcoin) creation, flow motion was temporarily withdrawn.

Like last week’s local news sources reported by RNS, the bill (commonly known as the “Russian bitcoin ban”) after being the Ministry of justice dismissed, it is said that because the comment was not adopted, received some negative feedback. From the beginning of this year, the state legislature has been Duma in consideration of the bill.

Discussed are those in Russia issued or outstanding private currency were the degree of punishment. Russia’s report shows that some advocates that should be sentenced to years of prison and fined, but the latest news that within the government about how to regulate the technical differences.

Observers believe that the defects in the bill from the beginning it was doomed to fail.

One of Moscow’s partner at law firm TolkachevandPartners NikitaSoshnikov called the bill “unintelligible”.

Soshnikov told CoinDesk:

“The Ministry of finance does not provide encryption and currency crime of endangering public safety (the basic standard of crime) justification. The wording of the bill, so all kinds of activities about electronic money may be included in the definition of “currency substitution” in.”

In addition, according to Soshnikov, it is said that the act itself also contains many redundant representations, the Justice Department have been criticized.

“The Russian Ministry of Justice said that Russian criminal law has provided similar regulations, have profit using illegal means of payment to be punished for the crime of criminal behavior,” he said.