By CCN Markets: In a legislative move that only Bizarro World could love, the New York State Senate has passed a bill that makes possession of a flamethrower for recreational use a crime. The bill now moves to the Assembly. Even more bizarre, this bill appears to be the direct result of everyone’s favorite circus ringmaster, Elon Musk. The Boring Company Flamethrower Eighteen months ago, Elon Musk and The Boring Company introduced a $ 500 flamethrower that uses propane. Ever-a-sucker for anything Elon Musk announces, 20,000 orders for The Boring Company flamethrower were placed. Perhaps Tesla owners grew impatient waiting for
The Senate of the U.S. state of Wyoming has passed a bill which defines cryptocurrency as property and establishes rules including for allowing banks to provide crypto custodial services. For secured transactions, however, the bill recognizes cryptocurrency as money subject to some of the same rules as money in the state.
Crypto Bill Passes Wyoming Senate
A bill defining digital assets as property passed the Wyoming Senate 28-1 with one excused Thursday. The bill classifies “digital assets, including cryptocurrency, as legal property,” the Wyoming Tribune Eagle reported. In addition, “It would subject cryptocurrency to some of the same rules as money by expanding existing laws,” the publication described.
Nouriel Roubini, an economist best known for his predictions of the 2008 housing bubble, and Peter Van Valkenburgh, Coin Center’s director of research, testified before the U.S. Senate Committee on Banking, Housing and Community Affairs in a hearing on cryptocurrency and blockchain on October 11, 2018.
“We need to sort through the static,” said Banking Committee Chair Idaho Republican Mike Crapo, describing a need to better understand both the opportunities and the challenges in cryptoland. The testimony comes at a time when bitcoin has lost two-thirds of its value since the beginning of the year and U.S. regulators are trying to figure out how to regulate thousands of ICOs that have flown in the face of decades old securities laws.
Noted economist Nouriel Roubini sounded off on virtual currency and blockchain in a recent Senate hearing. The NYU professor classified cryptocurrency as a big scam and a bubble.
Prominent economist Nouriel Roubini is one of the few who accurately predicted the 2008 financial crisis.
Currently a professor at the New York University Stern School of Business, Roubini has been a notable and colorful critic of cryptocurrency and blockchain technology. He made a number of passionate arguments against both at a recent hearing on Capital Hill on October 11th.
The hearing was titled “Exploring the Cryptocurrency and Blockchain Ecosystem.”
The US senator and potential presidential contender who suggested cryptocurrency “hurt” American families repeated concerns about the industry on October 11, saying it was “easy to steal.”
Warren Argues For Consumer Protection ‘Balance’
In a Senate Banking Committee hearing, Elizabeth Warren voiced fresh worry over the current regulatory climate in Washington, implying balanced rules should come into force.
At the same time, Warren poured scorn on ICOs, alleging “a lot of small investors” were being “scammed” by them, Forbes reports.
“The challenge is how to nurture productive aspects of crypto with protecting consumers,” the publication quotes her as saying.
The United States Senate Committee on Banking, Housing, and Urban Affairs held an informational hearing today titled “Exploring the Cryptocurrency and Blockchain Ecosystem.” The speakers included Dr. Nouriel Roubini, Professor of Economics and International Business, New York University Stern School of Business; and Mr. Peter Van Valkenburgh, Director of Research, Coin Center. Both gave testimonies on
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Noted Bitcoin critic Nouriel Roubini will deliver a speech on cryptocurrency and blockchain to the U.S. Senate today, and it is unlikely that the man known as “Dr. Doom” will mince his words. Nor will the economist concern himself too much with the truth, as his prepared testimony is filled with exaggerations and inaccuracies that the cryptocurrency community has already started to gleefully pull apart.
Silk Road founder Ross Ulbricht is currently serving a double life sentence plus 40 years for his role in operating the infamous Silk Road website. Ulbricht is not eligible for parole. He is currently imprisoned at the high-security United States Penitentiary, Florence High, in Colorado. In August, Maine State Senator and current U.S. Senate Candidate
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In today’s edition of The Daily we cover stories about a well known economics professor and outspoken crypto-skeptic who is going to speak about the subject at the U.S. Senate, bitcoin-buying service Coinmama adding support for SEPA bank accounts holders, and more.
Crypto-Skeptic Professor to Speak at US Senate
Renowned economics professor Nouriel Roubini (commonly known as Dr. Doom) is set to tell American politicians about all the ills he sees in the cryptocurrency ecosystem. The Senate Banking Committee lists him as a witness at a hearing on “Exploring the Cryptocurrency and Blockchain Ecosystem” to be held Thursday, October 11.
The U.S. senate Committee on Banking, Housing, and Urban Affairs is set to have a full committee hearing on Oct. 11 entitled “Exploring the Cryptocurrency and blockchain Ecosystem.” At the upcoming hearing, the two witnesses currently scheduled are Coin Center Director of Research Peter Van Valkenburgh, and New York University Professor Nouriel Roubini. Roubini, a noted
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Brendan Eich, the CEO of Brave, has written a letter to the U.S. Senate Committee on Commerce, Science and Transportation urging them to implement GDPR-like legislation in the United States.
GDPR stands for General Data Protection Regulation and works to secure the data and privacy of all individuals within the European Union (EU) and the European Economic Area (EEA). In addition, it addresses the exporting of personal data outside these two organizations. GDPR seeks to give individuals control over their personal information and simplify the regulatory atmosphere for international business ventures.
The chief executive of cryptocurrency-funded web browser Brave has penned a letter to the U.S. Senate calling for legislators to adopt data privacy regulations comparable to those recently implemented in Europe. Brave CEO Calls for a U.S. GDPR Writing in the letter dated Sept. 28 and addressed to the U.S. Senate Committee on Commerce, Science,
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A bill that seeks to create a task force to combat the use of cryptocurrency in financing terrorism has just passed the House of Representatives. House Resolution 5036 (H.R.5036), which purports to establish the “Independent Financial Technology Task Force,” was sent to the House of Representatives on Wednesday, September 26, 2018, before it passed an unanimous voice vote and has now moved to the Senate for consideration.
The proposed bill, which was introduced by Representative Ted Budd, is seen as a positive move from U.S. lawmakers, which aims to mitigate the use of cryptocurrencies in terrorist financing. The task force would focus on researching the ways in which terrorism could be financed through cryptos and propose actions to curb such activity.
Bitcoin regulations may be on the way as the US Senate Banking Committee is scheduled to meet with top market regulators in February over cryptocurrency.
The noose may be tightening around Bitcoin and its digital brethren in the United States in the coming months. According to Reuters, the Senate Banking Committee will be meeting with some top financial regulators in early February. Their topic of concern – cryptocurrency.
Are Regulations Coming?
Right now, there are no federal regulators that oversee cryptocurrency within the US. The government (and most importantly, the IRS) view crypto as property that’s subject to capital gains taxes.