Kuwait’s Ministry of Finance said bitcoin does not recognize

Kuwait’s Ministry of Finance said bitcoin does not recognize

According to reports, the Ministry of Finance said Kuwait does not recognize bitcoin, and prohibit financial institutions use bitcoin transactions.

According to the Arabia times, from the Ministry of finance sources explained that after the recent bitcoin prices soaring, the Central Bank of Kuwait does not allow financial institutions, banks and Affiliated Companies bitcoin transactions.

However, the sources added that the Ministry of Finance and central bank are not more common regulatory bitcoin transactions, because they do not recognize bitcoin. In addition, some sources said bitcoin transactions “out of control”, because it is managed through the internet.

The source added, because bitcoin did not get the support of the central government, the central bank risk had asked the Ministry of Commerce and industry departments to take measures to inform consumers of bitcoin.

The Arabia Times reported on 16 December, in the aftermath of the recent rise in the price of Kuwait is in the forefront of citizen bitcoin trading “”. From the public prosecutor’s news that Kuwait law does not prohibit online transactions, because it belongs to the “electronic legal procedure”.

“However, from abroad connected to Kuwait’s bitcoin income is considered illegal and not clean money, because Kuwait law does not consider these currencies,” the source said.

In other parts of the Middle East, Arabia and the United Arab Emirates in February this year the central bank made it clear that bitcoin is not prohibited in the country.

Prior to this, the central bank China in January 1st released a digital payment framework, provides that “all virtual currency (and any transaction) is prohibited”.

The bank said in its update: “these regulations do not include virtual currency,” virtual currency “is defined as any kind of digital unit is used as a medium of exchange, unit of account or a stored value form.”

Citi CEO: bitcoin threat will contribute to the national issue of digital currency

Citi CEO: bitcoin threat will contribute to the national issue of digital currency


Citigroup (Citigroup) CEOMichaelCorbat forecast bitcoin threat will contribute to obtain digital currency state support.

At a summit in New York, told Bloomberg Corbat said, “true enough crypto currency caused threats to the financial system, the government will not despise around data, money laundering and tax, to understand customer needs (KYC) the ability of subversion.

“We are likely to see the government into digital currency, but not encrypted currency, I think money is not good encryption nickname”.

Despite encouraging people to try to use encryption currency, Corbat said, “very poor” encryption currency bottom block chain technology “has the potential, should not be ignored.

Citi has been exploring the issue of encryption currency citicoin, to inhibit the friction of cross-border foreign exchange transactions. With the cooperation of the NASDAQ private equity transactions with blockchain technology.

The Corbat statement issued recently, Goldman (GoldmanSachs) CEOLloydBlankfein says his bitcoin “uncomfortable”, but face the potential.

Australian Senator called for the creation of bitcoin currency type

Australian Senator called for the creation of bitcoin currency type

In August 8th, two Australian senator from different political parties in a speech at the national parliament of Canberra, to discuss the prospect of block chain technology, and urged the Reserve Bank of Australia (ReserveBankofAustralia) to consider the issue of currency like bitcoin.

In the parliament, the Liberal Democratic Party Senator JaneHume and Senator SamDastyari’s efforts to promote the use of the blockchain in Australia or New Zealand, they also set up a chain block group AustralianParliamentaryFriends. The starting point of Dastyari group has made the best explanation, he said, when he first proposed bitcoin topic in the Senate, one of his colleagues came to him and said: “I don’t understand the problem, do they not all those who do not use the melted coins?” Block chain group AustralianParliamentaryFriends will provide a much-needed forum to discuss all things related to digital currency.

Hume said the attendees in August 8th: “the government, academia and the private enterprise is a huge opportunity,” at the same time as the Australian commodity production in Asia’s economic rise in the advantage of the importance of the blockchain Dastyari statement. He stressed that bitcoin has become the financial sector “participant”, other China and Singapore and other countries are actively considering their currency digital, if not action, Australia is also possible in the global economy are left behind:

In the production of cheap goods and services, we can not with our neighboring Asian competition. But we can compete in financial services, but it will mean to make a big and bold decision.”

Have a block chain based currency will bring many benefits, such as combating the informal economy. Australian digital currency business association (ADCA) chairman RonaldTucker said, the more rapid process of settlement and foreign exchange transactions will achieve. In addition, the chief executive of ADCA NicholasGiurietto commented, we must reconsider the existing system architecture, also expressed his optimism for the future development of the ParliamentaryFriendsofBlockchain group:

“When the Australian government and enterprise together, work together to promote the development of the blockchain application, I hope ParliamentaryFriendsofBlockchain can be regarded as a group to create a critical moment.”

In March 2017, Australia initiated a plan to practice block chain technology, recently, University of Sydney (UniversityofSydney) has launched an initiative that use block chain to protect and verify the student records. Indifference to bitcoin and block chain technology seems to have reversed in 2017, toward the good direction step by step, which benefited from the May 2017, the goods and services tax (GST) the use of encryption currency, which also founded the ParliamentaryFriendsofBlockchain group.

As the recession since the global financial crisis of the manufacturing industry, Australia hope that through pioneering distributed ledger technology, with its competitive advantage in financial services; as Dastyari points out, in order to achieve this ambition, from political circles support is necessary:

“For Australia, the problem is that we are followers in the world’s rapid development, or a leader. We need to find a bipartisan way to jointly promote the development of chain block.”

India bitcoin boom coming Bollywood star touted bitcoin

India bitcoin boom coming Bollywood star touted bitcoin

Bollywood news recently reported that celebrities are bitcoin crazy. The famous India artists have been on twitter comment bitcoin. They seem to find that the money is very attractive, but also see its future growth potential. According to a recent article in Bollywood news, some celebrities including: ShilpaShetty, RajKundra, rMadhavan etc. are said to bitcoin interest.

India bitcoin boom attracted big Bollywood

Bollywood stars are likely because bitcoin in India and attracted by the explosive growth of bitcoin.

The India government announced the “waste money order”, other forms of currency like wildfire spread, especially bitcoin. There are many in India bitcoin exchange. Bollywood news website explained:

“India has several online portals can be traded bitcoin. Some of the popular portal website is Coinsecure, Zebpay, Unocoin, BTCXIndia. According to MSN, India is only about 1 million of bitcoin users from all walks of life.”

Celebrities may also be affected by India bitcoin hero AmitBhardwaj.

He is the founder of AmazeMining&ResearchLtd, is the author of “bitcoin entry”.

According to Bollywood News reported that since 2012, he has been surrounded by loyal bitcoin. In recent years, his work and dedication to bitcoin is increasing, India celebrities also tweeted about his message, and the promotion of his book. The influence of Bhardwaj seems to be particularly inspired India superstar bitcoin enthusiasm.

The government pays attention to bitcoin, hot bitcoin craze

Recently, the India government is decided how to regulate bitcoin.

They on the digital currency concerns around India aroused people’s interest.

As everyone knows the Bollywood star has now gathered in the field, and for bitcoin and Tim wood fire. See how India bitcoin craze develops in the future, it will be interesting.

The elimination of Japan bitcoin trading tax trading volume will rise

The elimination of Japan bitcoin trading tax trading volume will rise

According to Japanese media reports, Japan with the tax reform act of July 1st officially announced that from the elimination of bitcoin transactions consumption tax, insiders expect Bill currency trading activity in Japan to activate its trading bills will rise.

In March 27th, the Japanese parliament formally approved the 2017 DDT share tax reform proposals, through the other bills listed bitcoin consumption tax bill and the reform of the. The Act came into force on July 1st, is expected to significantly increase bitcoin currency trading activities in Japan and encryption privacy in currency exchange market.

In April 1st, the Japanese government officially recognized as legal bitcoin payment and money. Since then, the Japanese government has focused on bitcoin traders, the establishment of enterprises and users and build ecological system more effective. The main part of the plan is to make bitcoin currency trading and encryption without friction, allowing traders easy access to encrypted currency, without processing such as tax and other external factors.

Japan bitcoin exchange market has been well regulated, and equipped with a proper knowledge of the customer (KYC) and anti money laundering (AML) system. Japan and South Korea’s anti money laundering policy is very strict, it is difficult to use the potential for arbitrage trader, using bitcoin mobile large sums of money outside of Japan, without triggering a local transaction platform used in anti money laundering system.

Since July 1st the activation of Japan bitcoin tax cuts, bitcoin prices rose from $2450 to $2570. Bitcoin gained momentum is entirely due to the Japanese market is not a fair assessment, because it accounts for only 16.2% of global bitcoin trading market.

However, positive signs of Japan bitcoin trading in Asia may establish a positive precedent, more control of the global bitcoin exchange market share of 65%, and the impact of the price of bitcoin.

The tax bill settlement bitcoin bitcoin ecosystem of Japanese businessman is also very important. Recently, some of the most influential companies in Japan, including the largest electronics retailer BicCamera began to accept Bitcoin as a digital currency and payment.

Soon after, thousands of restaurants, cafes and shops can begin to accept bitcoin, because the biggest point of sale of Japanese machine operator AirRegi in the fall of 2017 to integrate bitcoin.

India suddenly announced that bitcoin is legitimate

India suddenly announced that bitcoin is legitimate


The leading bitcoin exchange Zebpay revealed that the India Government Committee began to support bitcoin.

In April the 14th, the Ministry of finance of India (MinistryofFinance) cross industry commission (Inter-DisciplinaryCommittee) investigation of the legal status of bitcoin actively, consider the supervision of the market.

India bitcoin exchange efforts

In the past three years, India’s three largest bitcoin exchange Zebpay, Coinsecure and Unocoin run self regulatory trading platform, strictly abide by the rules of AML and KYC, although the digital currency industry and the lack of market regulation.

India bitcoin exchange self regulatory efforts that the government of India began to think about and digital currency bitcoin industry, although some politicians have criticized the lack of encryption currency knowledge too.

In March the 24th, the India BJP KiritSomaiya was severely criticized by members of Parliament, because he will bitcoin described as a Ponzi scheme.

The Treasury and the Reserve Bank of India (ReserveBankofIndia) Somaiya in the letter, bitcoin is a Ponzi maze. But Somaiya is unable to understand the structure between the Ponzi scheme and bitcoin some basic differences, and criticism.

Bitcoin legalized in India

Although some politicians hold negative attitude, the India government decided to regulate the market, provide a fair environment for bitcoin exchange, these exchanges have invested a lot of resources, standardization of the market and industry.

In April, India is one of the largest bitcoin exchange CEO Coinsecure MohitKalra said, the India government has finally started to seriously consider the supervision of the bitcoin market.

Finally, the industry has encountered some positive things. Government agencies have taken seriously in the industry. Over the years we have been trying to get their attention, glad everything happens at the appropriate. Coinsecure we saw great growth of users and trading volume. For three months we trend is optimistic about the future”.

In June the 20th, CNBCIndia announced that the government of India committee decided to support the supervision of bitcoin, is currently set up task groups, to create a variety of regulatory framework, short-term plan to complete the bitcoin legalization.

Before the India government announced the news, ARKInvest encryption currency director ChrisBurniske said, India trading volume on the rise. Burniske previously disclosed, India bitcoin trading market with about 11% of the global bitcoin trading against the u.s..

Burniske June the 15th twitter wrote:

Hello, India. We have been waiting for you! Curious about this will make bitcoin where.

India bitcoin legislation may greatly increase the bitcoin transactions in India and related activities.

Block chain – Gold – bitcoin

Block chain – Gold – bitcoin

But an undeniable fact is that gold has been gradually reduced, the world currency, has been weakened as a commodity.

Gold has a history of thousands of years, but only a few years the development of bitcoin, bitcoins, now the mainstream chain is the etheric Fang have the opportunity to reach the height of gold. In the long history, the trafficking of illegal salt problem has been continuously, more and more serious, but in modern times, the illegal salt problem no longer exists, why is this?

But an undeniable fact is that gold has been gradually reduced, the world currency, has been weakened as a commodity.

There are several features:

1, gold has been unable to purchase goods directly

2, there will be gold deposit interest, or even collect management fees

3, the paper gold into pure trading tools, can not directly use

4, with large mining equipment evolution, gold mining costs dropped significantly

In front of a few, indicating the state of the limit, make its function gradually decay, the last one, I feel more deadly. Now is the industrialized society, gold mining costs have dropped significantly, that is to say, gold has been far from ancient times so expensive. Even if one day gold was declared a world currency appreciation, which will lead to a large number of illegal mining of gold, no control.

We give a few examples, the first is the rare earth, rare earth is actually not uncommon, there are a large number of rare earth, the world plainly, yield than gold mostly, but 90% of the world’s rare earths are China output. Later discovered that this China government deficit, and restrictions on the export quotas on rare earth, rare earth prices suddenly soared to several times.

This leads to some phenomena are as follows:

1, some countries such as the United States, because of the rare earth price is high, profitable, so the increase of the rare earth mining

2, Japan and some other countries, from the waste electrical recycling of rare earth

3, the most serious, because of soaring profits lead to Chinese domestic rare earth rare earth, serious illegal mining

Rare earth China limit, may be able to make prices soaring in the short term, but over time, the price of rare earth will be leveled, a government is difficult to control the price of rare earth, the long-term cost of mining with out of touch.

We give an illegal salt problem, in ancient times, salt is a rarity, is the national business general. In the long history, the trafficking of illegal salt problem has been continuously, more and more serious, but in modern times, the illegal salt problem no longer exists, why is this?

In fact, this is mainly the cost, in ancient times, salt manufacturing process is very complex, the cost is very high, it is generally difficult to manufacture, so the salt is not a serious problem. After the Tang and Song Dynasties, technology has been greatly developed in salt, salt production cost is very low, this time, the government is taking on the salt administrative system, government revenues are even half of the country by this time, salt, salt is very serious. When ordinary people can produce salt, salt, a lot cheaper than the cost, in this case, even if the government has developed a very cruel punishment, also cannot avoid the increasingly rampant illegal salt. In modern times, the world has globalization, salt too common, if the government also limits the bureaucracy, a bag of salt to sell 100 yuan, this is impossible, can not restrict. So far, the continuation of the official salt system for thousands of years has been broken down.

Let’s look at the gold, people always remember the middle school political lesson one: the natural gold and silver currency. Think gold is money, is actually not so?

Gold in the thousands of years of history, has been the currency, but in modern times, has been the government credit currency (Fiat) replaced, gold has become a commodity (of course, this product still very expensive). Now the world total monetary value, gross has far more than gold. If one day, one of the countries announced the “gold standard”, let the gold and currency equivalent, it will be a substantial appreciation of the total gold or gold, no amount of money with the equivalence, it’s easy to be manipulated, the country’s gold reserves up. But if gold rose sharply, so the gold mining cost has been greatly reduced, even if the state of all the gold deposits controlled by the state, can not prohibit illegal mining of large, large amounts of gold and foreign input.

In view of this, gold as a natural currency mission, in fact has come to an end, the follow-up is very difficult to restore its original mission. While the new currency is actually the current government issued credit money, and can be regarded as a world currency, is only $. While the dollar such as man-made world currency, is likely to be replaced by a more advanced world currency, bitcoin from the current point of view, is likely to complete this mission.

At present, bitcoin has the following main features:

1, it puts an end to the dollar as currency, you can artificially control the issuance of currency

2, it is convenient to carry and convenient transactions.

3, currency issuance costs, increased with the increase of value

Admittedly, digital currency is still in the initial stage, it may be one of the following stages of development, one of which will become a world currency, and with different properties with previous currency, such as the etheric Fang as a representative of the intelligent property contract.

1, the world a lot of countries have similar digital currency trading system

2, a similar bitcoin ATM machine, you can always take cash, the bitcoin converted into domestic currency

3, can be used to purchase goods

4, a credit certificate issued by financial institutions (commonly known as money), convertible notes with electronic money, they are equivalent

5, world trade in digital currency as a trading currency trading

6, financial institutions recognized as collateral

7, the state announced the link with the digital currency, issued the corresponding notes

Of course, this is a long process, but also is not necessarily a bitcoin virtual currency is likely to win, other. One possibility here is the expression, although these days bitcoin prices have more than gold, but gold is far better than the digital currency currently recognized, but the future or period

Buy a green card for bitcoin? The United States government officials to measure the influence of bitcoin on EB-5 investment immigration plan

Buy a green card for bitcoin? The United States government officials to measure the influence of bitcoin on EB-5 investment immigration plan

The United States immigration service actively measure whether bitcoin can be used to pay the controversial visa project obligations.

Background: one of the U.S. green card or permanent residence is through the EB-5 immigrant investor visa program (EB-5ImmigrantInvestorVisaProgram). The project began in 1990s, in order to have the funds needed to attract overseas investment projects in china.

However, in recent months the EB-5 plan was criticized, saying it has become wealthy investors free money into the United States, investment tools, such as luxury has nothing to do with the intention of the project project. Members of Congress have even hoped to cancel the project.

Trump Trump, a government adviser son-in-law JaredKushner at the first month China openly encouraged the citizens through the EB-5 program project investment in the United States, please Trump heart, caused no small controversy.

Bitcoin Association recently announced: LoriMacKenzie director of the EB-5 office said investors may use bitcoin payment provisions of EB-5 expenses.

March 3rd EB-5 conference in Washington, MacKenzie speech, said the U.S. citizenship and immigration services (USCIS, CitizenshipandImmigrationServices) in the “virtual currency issues, such as bitcoin, bitcoin investment fund” will be transferred to the new commercial enterprises”.

“USCIS can’t give any form of transfer to provide comprehensive insurance, but we will continue to evaluate the petitioner’s evidence, decide whether or not to meet the requirements of the laws and regulations, including directly and indirectly obtained through legal investment funds belonging to the petitioner’s evidence”.

The bottom line: so what does this mean?

For the initial contact block chain of people, it is the United States government concern, but whether it will lead to specific policy adjustment or statement is not clear. USCIS representatives did not immediately comment.

In fact, this is a certain extent at least the past is the main theme, whether bitcoin related activities of the income can be used to meet the requirements of EB-5. It seems that the government should not oppose a consensus, although some experts said last year that the source of funds is a big problem.

But if you cancel EB-5, this question has no meaning. At the same time, Trump is not clear whether the government will cut off the project.

Australia in July this year will be officially recognized bitcoin currency, and stop tax

Australia in July this year will be officially recognized bitcoin currency, and stop tax


In July 1, 2017, bitcoin officially became the currency in Australia will be, and will be exempt from consumption tax. Since then, bitcoin bitcoin traders and investors trading on a regulated exchange and trading platform will no longer pay taxes.

Over the past two years, the Australian currency trading market in the more behind the catch up from behind new markets, such as South Korea, including Japan and South Korea will control more than half of the global bitcoin trading market share.

At present and other digital currency bitcoin related start-up companies, and exchange companies choose to stay out of the country, this phenomenon has two factors: the major Australian banks of the relevant bank service is terminated due to its anti competitive characteristics, the Australian government bitcoin transactions double taxation.

However, from July 1st onwards, bitcoin double tax, transaction tax and goods and services tax will be exempted. In the 2017 to 2018 “to support innovation and FinTech” in the budget, the Australian government wrote:

“The government will assist the digital currency business innovation more convenient to carry out business in the country. From July 1, 2017 onwards, the purchase of digital currency will not be levied on the consumption tax, and digital currency as the currency. At present, consumers in the use of digital money, need to pay two tax, a purchase, another is the use of digital currency stocks to buy other goods and services.”

The government will also provide protection for enterprises and bitcoin exchange

More importantly, the new vision of the Australian government is to promote the development of FinTech and digital currency market, this will prevent local banks and financial institutions have refused to bitcoin company and exchange service phenomenon.

If these problems can be solved in July 1st, then Australia bitcoin market in the user base and the trading volume, will likely usher in rapid development. The document also wrote:

“The development of innovation will drive productivity in australia. This is why the government will invest $1 billion 100 million worth of national innovation and science agenda (NISA) to help Australia to take advantage of new economic opportunities. The government is trying to create Australia as the world’s leading FinTech center, and announced a new package, aimed at the domestic FinTech industry to create a world leader.”

Earlier this week in New Zealand Oakland held “blockchain New Zealand” meeting, bitcoin and security experts AndreasAntonopoulos discussed do not interfere with the Australian government on the local behavior of the bitcoin market, and bitcoin exchange business and influence.

In addition, Antonopoulos also criticized the local government bitcoin tax policy, this policy fundamentally, enterprises and users from Australia to other countries.

“The government can choose what to do, but will make the situation worse encrypted currency transactions — like Australia for all encryption currency transaction tax, or through the control of bank and encourage enterprises to create a fair environment to participate in, so as to make the encryption currency businesses are more likely to survive.”

With this new policy in Australia, will be greatly improved bitcoin local ecological system. The bank will start providing services to bitcoin exchange, traders in the purchase of bitcoin is also no longer need to pay consumption tax.

Bitcoin promote anarchist prosperity

Bitcoin promote anarchist prosperity

Bitcoin to the center is one of the most important characteristics, this is a free feature, but also it can quickly swept the world. This means that bitcoin is not the arbitrary control of small parts. Foreign media found that due to the characteristics of bitcoin, some anarchists are using it for their own lives.

The real bitcoin is fully respect the choice of the market, although it developed by the technical staff, but the development of bitcoin does not depend on their bitcoin, also need to bitcoin miners and operators of the support and cooperation of nodes. These phenomena show the attribute of bitcoin free.

At present, some people use bitcoin free to live a free life, they separated from the state and government. People working in a FreethinkerHouse garden in Texas and life. People in such a way that gives a bitcoin to the center of the significance of new, just like the island in the Pacific Ocean, bitcoin is from the stone on the island and the evolution of currency.

Anarchist Derek? Said Bruiser these people and their living and working area for free unit.

The implementation of these free unit activism to strengthen their activities. Free unit should be voluntary exchanges on the black market, and social change through these market philosophy. Experts and scholars will have this type of activity is called reverse economics.

Free unit to adopt this anti economic philosophy, so bitcoin and other encryption currency can be used to provide the appropriate money for them.

Indeed, many free units can be the main way to use barter way of economic activities, however, cryptography provides alternative, digital, virtual and transferable value storage.

In fact, bitcoin has the ability to help free unit get more development, because it makes these groups more exciting and practical economic life. An interesting side effect of government decentralization is a community or group is only suitable for small. Bitcoin is a part of the decentralization process, and other encryption currency may play a similar role.

Bitcoin allows free cell development, because it is useful for trading in these groups, instead of using a barter system. It provides a complete technical means the same thing for them, but also more practical. In fact, bitcoin is designed as a kind of economic transactions easier and more free technology.

This is the main anti money monetary economics, it will allow more freedom groups illuminate more prosperity and freedom.