Australian is getting ready to regulate bitcoin

applesRyummy

full member

Activity: 126

Merit: 100

Quote from: SHA255 on July 22, 2014, 05:57:54 PM

Quote from: LostDutchman on July 22, 2014, 05:52:11 PM

Quote from: rackcityb1 on July 22, 2014, 05:02:01 PM

Quote from: LostDutchman on July 22, 2014, 04:34:58 PM

Quote from: rackcityb1 on July 22, 2014, 04:26:46 PM

Quote from: spazzdla on July 22, 2014, 04:02:25 PM

Quote from: wolfYella on July 22, 2014, 03:51:04 PM

Quote from: LostDutchman on July 21, 2014, 10:12:48 PM

Quote from: btc2day.cz on July 21, 2014, 07:59:10 PM

It seems that there is a forthcoming regulation on bitcoin in Australia to be released later this year or in 2015. The Financial inquiry commission headed by an ex-banker is due to give its recommendation to the government in November: http://www.smh.com.au/it-pro/business-it/tax-office-responds-to-rise-of-bitcoin-20140721-zuegm.html

Down Under has forgotten its roots.

Don't you think that some level if regulation would somewhat protect consumers?

Regulation only protects the stupid and srcews the average person.. HARD.
May I point you to the "clean water act" where compaines can now pump w/e they feel like into the ground and not tell a soul. Regulation is moronic.

There are a lot of regulations that do not do a good job, and some regulations are excessive, but the goals of regulations are to protect consumers.

Horseshit.

The goals of regulation are to generate taxes, control the individual and expand the power of government.

What part of the NY bitcoin regulation will do any of that?

All of it!

The NY regulations are going to force exchanges to follow AML rules and to hold enough bitcoin to cover the amount of bitcoin that customers hold at the exchange. It also subject exchanges to audits to make sure they hold enough bitcoin as per above. Have you even read the proposed regulations? Are you at all familiar with them?

+1

Very good point

Inotanewbie

sr. member

Activity: 252

Merit: 250

www.CloudThink.IO

Quote from: LostDutchman on July 22, 2014, 06:04:41 PM

Quote from: SHA255 on July 22, 2014, 05:57:54 PM

Quote from: LostDutchman on July 22, 2014, 05:52:11 PM

Quote from: rackcityb1 on July 22, 2014, 05:02:01 PM

Quote from: LostDutchman on July 22, 2014, 04:34:58 PM

Quote from: rackcityb1 on July 22, 2014, 04:26:46 PM

Quote from: spazzdla on July 22, 2014, 04:02:25 PM

Quote from: wolfYella on July 22, 2014, 03:51:04 PM

Quote from: LostDutchman on July 21, 2014, 10:12:48 PM

Quote from: btc2day.cz on July 21, 2014, 07:59:10 PM

It seems that there is a forthcoming regulation on bitcoin in Australia to be released later this year or in 2015. The Financial inquiry commission headed by an ex-banker is due to give its recommendation to the government in November: http://www.smh.com.au/it-pro/business-it/tax-office-responds-to-rise-of-bitcoin-20140721-zuegm.html

Down Under has forgotten its roots.

Don't you think that some level if regulation would somewhat protect consumers?

Regulation only protects the stupid and srcews the average person.. HARD.
May I point you to the "clean water act" where compaines can now pump w/e they feel like into the ground and not tell a soul. Regulation is moronic.

There are a lot of regulations that do not do a good job, and some regulations are excessive, but the goals of regulations are to protect consumers.

Horseshit.

The goals of regulation are to generate taxes, control the individual and expand the power of government.

What part of the NY bitcoin regulation will do any of that?

All of it!

The NY regulations are going to force exchanges to follow AML rules and to hold enough bitcoin to cover the amount of bitcoin that customers hold at the exchange. It also subject exchanges to audits to make sure they hold enough bitcoin as per above. Have you even read the proposed regulations? Are you at all familiar with them?

Yes I am and if this is not expanding the power of government, please tell me exactly what the fuck it is!

AML rules are not anything new, they have been in effect for well over a decade now.

LostDutchman

sr. member

Activity: 476

Merit: 250

Quote from: SHA255 on July 22, 2014, 05:57:54 PM

Quote from: LostDutchman on July 22, 2014, 05:52:11 PM

Quote from: rackcityb1 on July 22, 2014, 05:02:01 PM

Quote from: LostDutchman on July 22, 2014, 04:34:58 PM

Quote from: rackcityb1 on July 22, 2014, 04:26:46 PM

Quote from: spazzdla on July 22, 2014, 04:02:25 PM

Quote from: wolfYella on July 22, 2014, 03:51:04 PM

Quote from: LostDutchman on July 21, 2014, 10:12:48 PM

Quote from: btc2day.cz on July 21, 2014, 07:59:10 PM

It seems that there is a forthcoming regulation on bitcoin in Australia to be released later this year or in 2015. The Financial inquiry commission headed by an ex-banker is due to give its recommendation to the government in November: http://www.smh.com.au/it-pro/business-it/tax-office-responds-to-rise-of-bitcoin-20140721-zuegm.html

Down Under has forgotten its roots.

Don't you think that some level if regulation would somewhat protect consumers?

Regulation only protects the stupid and srcews the average person.. HARD.
May I point you to the "clean water act" where compaines can now pump w/e they feel like into the ground and not tell a soul. Regulation is moronic.

There are a lot of regulations that do not do a good job, and some regulations are excessive, but the goals of regulations are to protect consumers.

Horseshit.

The goals of regulation are to generate taxes, control the individual and expand the power of government.

What part of the NY bitcoin regulation will do any of that?

All of it!

The NY regulations are going to force exchanges to follow AML rules and to hold enough bitcoin to cover the amount of bitcoin that customers hold at the exchange. It also subject exchanges to audits to make sure they hold enough bitcoin as per above. Have you even read the proposed regulations? Are you at all familiar with them?

Yes I am and if this is not expanding the power of government, please tell me exactly what the fuck it is!

SHA255

member

Activity: 72

Merit: 10

Quote from: LostDutchman on July 22, 2014, 05:52:11 PM

Quote from: rackcityb1 on July 22, 2014, 05:02:01 PM

Quote from: LostDutchman on July 22, 2014, 04:34:58 PM

Quote from: rackcityb1 on July 22, 2014, 04:26:46 PM

Quote from: spazzdla on July 22, 2014, 04:02:25 PM

Quote from: wolfYella on July 22, 2014, 03:51:04 PM

Quote from: LostDutchman on July 21, 2014, 10:12:48 PM

Quote from: btc2day.cz on July 21, 2014, 07:59:10 PM

It seems that there is a forthcoming regulation on bitcoin in Australia to be released later this year or in 2015. The Financial inquiry commission headed by an ex-banker is due to give its recommendation to the government in November: http://www.smh.com.au/it-pro/business-it/tax-office-responds-to-rise-of-bitcoin-20140721-zuegm.html

Down Under has forgotten its roots.

Don't you think that some level if regulation would somewhat protect consumers?

Regulation only protects the stupid and srcews the average person.. HARD.
May I point you to the "clean water act" where compaines can now pump w/e they feel like into the ground and not tell a soul. Regulation is moronic.

There are a lot of regulations that do not do a good job, and some regulations are excessive, but the goals of regulations are to protect consumers.

Horseshit.

The goals of regulation are to generate taxes, control the individual and expand the power of government.

What part of the NY bitcoin regulation will do any of that?

All of it!

The NY regulations are going to force exchanges to follow AML rules and to hold enough bitcoin to cover the amount of bitcoin that customers hold at the exchange. It also subject exchanges to audits to make sure they hold enough bitcoin as per above. Have you even read the proposed regulations? Are you at all familiar with them?

LostDutchman

sr. member

Activity: 476

Merit: 250

Quote from: rackcityb1 on July 22, 2014, 05:02:01 PM

Quote from: LostDutchman on July 22, 2014, 04:34:58 PM

Quote from: rackcityb1 on July 22, 2014, 04:26:46 PM

Quote from: spazzdla on July 22, 2014, 04:02:25 PM

Quote from: wolfYella on July 22, 2014, 03:51:04 PM

Quote from: LostDutchman on July 21, 2014, 10:12:48 PM

Quote from: btc2day.cz on July 21, 2014, 07:59:10 PM

It seems that there is a forthcoming regulation on bitcoin in Australia to be released later this year or in 2015. The Financial inquiry commission headed by an ex-banker is due to give its recommendation to the government in November: http://www.smh.com.au/it-pro/business-it/tax-office-responds-to-rise-of-bitcoin-20140721-zuegm.html

Down Under has forgotten its roots.

Don't you think that some level if regulation would somewhat protect consumers?

Regulation only protects the stupid and srcews the average person.. HARD.
May I point you to the "clean water act" where compaines can now pump w/e they feel like into the ground and not tell a soul. Regulation is moronic.

There are a lot of regulations that do not do a good job, and some regulations are excessive, but the goals of regulations are to protect consumers.

Horseshit.

The goals of regulation are to generate taxes, control the individual and expand the power of government.

What part of the NY bitcoin regulation will do any of that?

All of it!

nottm28

hero member

Activity: 574

Merit: 500

I wonder which Australian would do such a thing...

rackcityb1

newbie

Activity: 45

Merit: 0

Quote from: LostDutchman on July 22, 2014, 04:34:58 PM

Quote from: rackcityb1 on July 22, 2014, 04:26:46 PM

Quote from: spazzdla on July 22, 2014, 04:02:25 PM

Quote from: wolfYella on July 22, 2014, 03:51:04 PM

Quote from: LostDutchman on July 21, 2014, 10:12:48 PM

Quote from: btc2day.cz on July 21, 2014, 07:59:10 PM

It seems that there is a forthcoming regulation on bitcoin in Australia to be released later this year or in 2015. The Financial inquiry commission headed by an ex-banker is due to give its recommendation to the government in November: http://www.smh.com.au/it-pro/business-it/tax-office-responds-to-rise-of-bitcoin-20140721-zuegm.html

Down Under has forgotten its roots.

Don't you think that some level if regulation would somewhat protect consumers?

Regulation only protects the stupid and srcews the average person.. HARD.
May I point you to the "clean water act" where compaines can now pump w/e they feel like into the ground and not tell a soul. Regulation is moronic.

There are a lot of regulations that do not do a good job, and some regulations are excessive, but the goals of regulations are to protect consumers.

Horseshit.

The goals of regulation are to generate taxes, control the individual and expand the power of government.

What part of the NY bitcoin regulation will do any of that?

LostDutchman

sr. member

Activity: 476

Merit: 250

Quote from: rackcityb1 on July 22, 2014, 04:26:46 PM

Quote from: spazzdla on July 22, 2014, 04:02:25 PM

Quote from: wolfYella on July 22, 2014, 03:51:04 PM

Quote from: LostDutchman on July 21, 2014, 10:12:48 PM

Quote from: btc2day.cz on July 21, 2014, 07:59:10 PM

It seems that there is a forthcoming regulation on bitcoin in Australia to be released later this year or in 2015. The Financial inquiry commission headed by an ex-banker is due to give its recommendation to the government in November: http://www.smh.com.au/it-pro/business-it/tax-office-responds-to-rise-of-bitcoin-20140721-zuegm.html

Down Under has forgotten its roots.

Don't you think that some level if regulation would somewhat protect consumers?

Regulation only protects the stupid and srcews the average person.. HARD.
May I point you to the "clean water act" where compaines can now pump w/e they feel like into the ground and not tell a soul. Regulation is moronic.

There are a lot of regulations that do not do a good job, and some regulations are excessive, but the goals of regulations are to protect consumers.

Horseshit.

The goals of regulation are to generate taxes, control the individual and expand the power of government.

rackcityb1

newbie

Activity: 45

Merit: 0

Quote from: spazzdla on July 22, 2014, 04:02:25 PM

Quote from: wolfYella on July 22, 2014, 03:51:04 PM

Quote from: LostDutchman on July 21, 2014, 10:12:48 PM

Quote from: btc2day.cz on July 21, 2014, 07:59:10 PM

It seems that there is a forthcoming regulation on bitcoin in Australia to be released later this year or in 2015. The Financial inquiry commission headed by an ex-banker is due to give its recommendation to the government in November: http://www.smh.com.au/it-pro/business-it/tax-office-responds-to-rise-of-bitcoin-20140721-zuegm.html

Down Under has forgotten its roots.

Don't you think that some level if regulation would somewhat protect consumers?

Regulation only protects the stupid and srcews the average person.. HARD.
May I point you to the "clean water act" where compaines can now pump w/e they feel like into the ground and not tell a soul. Regulation is moronic.

There are a lot of regulations that do not do a good job, and some regulations are excessive, but the goals of regulations are to protect consumers.

LostDutchman

sr. member

Activity: 476

Merit: 250

Quote from: spazzdla on July 22, 2014, 04:02:25 PM

Quote from: wolfYella on July 22, 2014, 03:51:04 PM

Quote from: LostDutchman on July 21, 2014, 10:12:48 PM

Quote from: btc2day.cz on July 21, 2014, 07:59:10 PM

It seems that there is a forthcoming regulation on bitcoin in Australia to be released later this year or in 2015. The Financial inquiry commission headed by an ex-banker is due to give its recommendation to the government in November: http://www.smh.com.au/it-pro/business-it/tax-office-responds-to-rise-of-bitcoin-20140721-zuegm.html

Down Under has forgotten its roots.

Don't you think that some level if regulation would somewhat protect consumers?

Regulation only protects the stupid and srcews the average person.. HARD.
May I point you to the "clean water act" where compaines can now pump w/e they feel like into the ground and not tell a soul. Regulation is moronic.

+1

spazzdla

legendary

Activity: 1722

Merit: 1000

Quote from: wolfYella on July 22, 2014, 03:51:04 PM

Quote from: LostDutchman on July 21, 2014, 10:12:48 PM

Quote from: btc2day.cz on July 21, 2014, 07:59:10 PM

It seems that there is a forthcoming regulation on bitcoin in Australia to be released later this year or in 2015. The Financial inquiry commission headed by an ex-banker is due to give its recommendation to the government in November: http://www.smh.com.au/it-pro/business-it/tax-office-responds-to-rise-of-bitcoin-20140721-zuegm.html

Down Under has forgotten its roots.

Don't you think that some level if regulation would somewhat protect consumers?

Regulation only protects the stupid and srcews the average person.. HARD.
May I point you to the "clean water act" where compaines can now pump w/e they feel like into the ground and not tell a soul. Regulation is moronic.

LostDutchman

sr. member

Activity: 476

Merit: 250

Quote from: wolfYella on July 22, 2014, 03:51:04 PM

Quote from: LostDutchman on July 21, 2014, 10:12:48 PM

Quote from: btc2day.cz on July 21, 2014, 07:59:10 PM

It seems that there is a forthcoming regulation on bitcoin in Australia to be released later this year or in 2015. The Financial inquiry commission headed by an ex-banker is due to give its recommendation to the government in November: http://www.smh.com.au/it-pro/business-it/tax-office-responds-to-rise-of-bitcoin-20140721-zuegm.html

Down Under has forgotten its roots.

Don't you think that some level if regulation would somewhat protect consumers?

No.

jbrnt

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Activity: 672

Merit: 500

They are not regulating bitcoin yet, they are contemplating its position in tax. The first thing governments think about is how to grab a share Angry

wolfYella

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Activity: 48

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Quote from: LostDutchman on July 21, 2014, 10:12:48 PM

Quote from: btc2day.cz on July 21, 2014, 07:59:10 PM

It seems that there is a forthcoming regulation on bitcoin in Australia to be released later this year or in 2015. The Financial inquiry commission headed by an ex-banker is due to give its recommendation to the government in November: http://www.smh.com.au/it-pro/business-it/tax-office-responds-to-rise-of-bitcoin-20140721-zuegm.html

Down Under has forgotten its roots.

Don't you think that some level if regulation would somewhat protect consumers?

LostDutchman

sr. member

Activity: 476

Merit: 250

Quote from: btc2day.cz on July 21, 2014, 07:59:10 PM

It seems that there is a forthcoming regulation on bitcoin in Australia to be released later this year or in 2015. The Financial inquiry commission headed by an ex-banker is due to give its recommendation to the government in November: http://www.smh.com.au/it-pro/business-it/tax-office-responds-to-rise-of-bitcoin-20140721-zuegm.html

Down Under has forgotten its roots.

cryptofan5

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Activity: 126

Merit: 100

Wasn't there already some kind of regulation for e-currencies there?

BTCmoons

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Activity: 173

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This should help give bitcoin some level of legitimacy and hopefully will help people want to start using bitcoin

btc2day.cz

newbie

Activity: 13

Merit: 0

It seems that there is a forthcoming regulation on bitcoin in Australia to be released later this year or in 2015. The Financial inquiry commission headed by an ex-banker is due to give its recommendation to the government in November: http://www.smh.com.au/it-pro/business-it/tax-office-responds-to-rise-of-bitcoin-20140721-zuegm.html

Topic: Australian is getting ready to regulate bitcoin (Read 1423 times)