So much for an independent currency taking over the world. First there will be mild regulations and taxes and then more and more until they squeeze the last coin out of us.
Even Coinbase is now threatening on behalf of the government, great!
Topic: [2015-05-02] Be Vigilant on Compliance, Coinbase Warns Bitcoin Startups (Read 820 times)
May 05, 2015, 07:44:21 AM
May 05, 2015, 05:00:50 AM
In other words, "Go fuck yourselves, you can't afford to comply with economic totalitarianism. Regulatory capture RULES!"
May 04, 2015, 08:37:50 PM
That is a great example of how companies use regulations to fight off competition. Now that Coinbase is finally getting its compliance act together, it is using compliance as way to scare away competitors.
If they really wanted to help, they would instead say, "we'll help startups get over the compliance blockades". But they don't.
If they really wanted to help, they would instead say, "we'll help startups get over the compliance blockades". But they don't.
May 04, 2015, 12:50:01 PM
Quote
Hody made it clear that the purpose of regulation in the digital currency industry is about protecting consumers, restricting money laundering and making sure taxes are properly collected.
I believe above part summarizes basically the governments' viewpoints. If all above are satisfied when you deal with bitcoin as a company, I think there will be nothing to ban for using BTC at their services at all.
On the other hand , when you try yo comply with this possible regulative stuff, you should make balance with customer privacy. Otherwise, most of current BTC community dont use your services.
If BTC has to be mass-adopted worldwide and used for everyday TXs, it need to be seen as a no-threat from Nation States. Any medium threathning colletion of tax revenue or facilitating financing of terrorism or insurgencies cannot be tolerated by any Country. If this "peace" can achieved only relinquishing some customer privacy; this maybe need ASAP...after all, we all-ready give away scores of tx details everyday with Credit and Debit cards, Bank wires, etc...so what the bad if BTC if a little less anonymous.
May 02, 2015, 09:58:48 AM
Quote
Hody made it clear that the purpose of regulation in the digital currency industry is about protecting consumers, restricting money laundering and making sure taxes are properly collected.
I believe above part summarizes basically the governments' viewpoints. If all above are satisfied when you deal with bitcoin as a company, I think there will be nothing to ban for using BTC at their services at all.
On the other hand , when you try yo comply with this possible regulative stuff, you should make balance with customer privacy. Otherwise, most of current BTC community dont use your services.
May 02, 2015, 08:19:32 AM
Be Vigilant on Compliance, Coinbase Warns Bitcoin Startups
Full Story: http://www.coindesk.com/be-vigilant-on-compliance-coinbase-warns-bitcoin-startups/
Bitcointalk's Legal sub-board: https://bitcointalk.org/index.php?board=74.0
Quote
One of the largest players in bitcoin has warned fledging startups to remain vigilant on regulatory compliance issues.
Coinbase's associate counsel Sarah Hody urged entrepreneurs to follow the firm's "proactive" stance in front of a packed audience at bitcoin developer meetup in San Francisco’s South of Market district.
Hody, who worked at several different law firms prior to joining the cryptocurrency space, noted that a number of other sectors, including food services and the automotive industry, have regulatory bodies that ensure consumer protection.
Coinbase's associate counsel Sarah Hody urged entrepreneurs to follow the firm's "proactive" stance in front of a packed audience at bitcoin developer meetup in San Francisco’s South of Market district.
Hody, who worked at several different law firms prior to joining the cryptocurrency space, noted that a number of other sectors, including food services and the automotive industry, have regulatory bodies that ensure consumer protection.
Full Story: http://www.coindesk.com/be-vigilant-on-compliance-coinbase-warns-bitcoin-startups/
Bitcointalk's Legal sub-board: https://bitcointalk.org/index.php?board=74.0
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