United States debate digital currency
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United States debate digital currency
Now that consumers can use digital currencies like bitcoin to buy rugs from Overstock.com, pay for Peruvian pork sandwiches from a food truck in Washington, D.C., and even make donations to political action committees, states are beginning to explore how to regulate the emerging industry.
http://phys.org/news/2014-08-states-debate-digital-currency.html
Note:
Although digital currencies are far from widespread in their acceptance, their growing popularity - and potential for misuse - has prompted states to weigh in on what was previously uncharted territory.
“As far as we know, most state laws are completely silent on this topic,” said David J. Cotney, chairman of the Conference of State Bank Supervisors’ Emerging Payments Task Force, which in March began exploring virtual currency.
Among the questions the “task force” will consider, Cotney said, is whether bitcoins should be classified as currencies, investment securities or commodities, which could determine which regulators should apply.
http://www.mass.gov/ocabr/utility/about-david-j-cotney.html
David J. Cotney, Chairman of the Conference of State Bank Supervisors’ Emerging Payments Task Force in 2010.
The CSBSEPTF ?
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I hate these guys.
chairman of the Conference of State Bank Supervisors’ Emerging Payments Task Force
That’s a made up job title if ever I’ve heard one!
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He’s no match for the CEO of Bitcoin!
pantagruelism>
