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US Treasury Adds Digital Currency Representative to Advisory Group
Coin Desk ^
| 18 March 2014
| Pete Rizzo
Posted on 03/18/2014 10:42:53 AM PDT by Errant
At the latest Bloomberg Breakfast event held in New York on 18th March, David S Cohen, Under Secretary of the US Department of the Treasury, discussed the challenges of digital currencies as part of a broader conversation with the media outlets Matt Miller to air on Bloomberg TV.
In the hour-long talk, Cohen spoke about the organisations role as a global leader in educating consumers and governments on the evolving issue, paying a particular interest to the potential illicit uses of digital currencies, as well as the measures it is willing to take to ensure their proper use.
Most notably, however, Cohen revealed that the Treasury is taking an interest in ensuring that the digital currency industry evolves in a regulated manner despite these concerns.
For the first time, Cohen said, his group will be including an unnamed member of the digital currency community as part of the Treasurys Bank Secrecy Act Advisory Group (BSAAG) in an effort to work toward this goal.
(Excerpt) Read more at coindesk.com ...
TOPICS: Business/Economy; Computers/Internet; Government; Society
KEYWORDS: bitcoin; crypto; currency; treasury
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1
posted on
03/18/2014 10:42:53 AM PDT
by
Errant
To: Lurkina.n.Learnin; nascarnation; TsonicTsunami08; SgtHooper; Ghost of SVR4; Lee N. Field; DTA; ...
Click to be Added / Removed.
2
posted on
03/18/2014 10:43:30 AM PDT
by
Errant
(Surround yourself with intelligent and industrious people who help and support each other.)
To: Errant
Can I pay this years taxes in BitBucks?
3
posted on
03/18/2014 10:50:03 AM PDT
by
JimRed
(Excise the cancer before it kills us; feed & water the Tree of Liberty! TERM LIMITS NOW & FOREVER!)
To: Errant
To: JimRed
Perhaps you will be able to next year, even though the IRS still has time to setup payment through Bitpay! :)
5
posted on
03/18/2014 10:53:26 AM PDT
by
Errant
(Surround yourself with intelligent and industrious people who help and support each other.)
To: JimRed
Can I pay this years taxes in BitBucks? No, but they will be more than glad to tax you (payable in real dollars) on any gains you make in bitcoins.
6
posted on
03/18/2014 10:56:15 AM PDT
by
KarlInOhio
(Republican amnesty supporters don't care whether their own homes are called mansions or haciendas.)
To: Errant
Since bitcoin is bankrupt, it makes sense.
7
posted on
03/18/2014 10:59:06 AM PDT
by
no-to-illegals
(Scrutinize our government and Secure the Blessing of Freedom and Justice)
To: Fester Chugabrew
My takeaway:
Most notably, however, Cohen revealed that the Treasury is taking an interest in ensuring that the digital currency industry evolves in a regulated manner despite these concerns.
They know they can't stop it now, so might as well join. This is true of any technology that proves its metal. Of course, crypto still is a work in progress.
8
posted on
03/18/2014 10:59:11 AM PDT
by
Errant
(Surround yourself with intelligent and industrious people who help and support each other.)
To: no-to-illegals
Since bitcoin is bankrupt, it makes sense. Bitcoin isn't bankrupt. One of the bitcoin exchanges (Mt. Gox) filed for chp. 15. But there are many more exchanges with new ones being added almost monthly now.
9
posted on
03/18/2014 11:01:26 AM PDT
by
Errant
(Surround yourself with intelligent and industrious people who help and support each other.)
To: Errant
yep, I trust all counterfeit.
10
posted on
03/18/2014 11:09:53 AM PDT
by
no-to-illegals
(Scrutinize our government and Secure the Blessing of Freedom and Justice)
To: no-to-illegals
yep, I trust all counterfeit.
Based on the silliness and inaccuracy of your post at #7:
Since bitcoin is bankrupt, it makes sense.
You have no credibility on the subject to me.
I have no problem listening those who argue against the technology when they make rational and accurate points, and if they've done at least a shred of research into the subject.
You appear to have done none of these before weighing in.
To: mmichaels1970
suit yourself ... it is only your money to lose.
12
posted on
03/18/2014 12:42:15 PM PDT
by
no-to-illegals
(Scrutinize our government and Secure the Blessing of Freedom and Justice)
To: no-to-illegals
suit yourself ... it is only your money to lose.
That is a rational and accurate post. I agree with you there.
To: mmichaels1970
Am still looking in the post have tied to in order to find your rational ... your post #11. Were you simply venting because you believe in bitcoins?
14
posted on
03/18/2014 12:50:31 PM PDT
by
no-to-illegals
(Scrutinize our government and Secure the Blessing of Freedom and Justice)
To: Errant
Yeah, and the CEO is a suicide bomber! And, and, and it’s bad!
To: no-to-illegals
Am still looking in the post have tied to in order to find your rational ... your post #11.
Perpetuating false information (i.e. Bitcoin is bankrupt) is a pet peeve I suppose. Your post is only one of many that are putting out incorrect information.
Other incorrect statements that appear here frequently:
CEO of Bitcoin committed suicide.
CEO of Mt. Gox committed suicide.
Bitcoin is worth less than it was a year ago.
Were you simply venting because you believe in bitcoins?
Nope, as you said, it's MY money to lose. I have no problem with folks who decide not to participate, so long as they don't try to impede my freedom to do so.
To: mmichaels1970
What backs bitcoins ... the full faith and credit of what? Anyone betting on bitcoins is doing the unthinkable and giving their money or placing their money into something that is worthless. Am not surprised the fed is now going to place an advisor inside the fed. The fed is always looking for a better way to scam people out of their money. It actual makes sense the fed would want a bitcoin or digital currency representative on the fed. Is another way to remove people from their money. I’ll have fun watching though.
17
posted on
03/18/2014 1:04:48 PM PDT
by
no-to-illegals
(Scrutinize our government and Secure the Blessing of Freedom and Justice)
To: no-to-illegals
“Hi, I’m Fred, I have a bank...you got $1500, I’ll put it right here in my White Suit, front pocket.”
18
posted on
03/18/2014 1:06:55 PM PDT
by
dfwgator
To: dfwgator
I want $2000 in cash first Fred. Then we will talk.
19
posted on
03/18/2014 1:09:33 PM PDT
by
no-to-illegals
(Scrutinize our government and Secure the Blessing of Freedom and Justice)
To: no-to-illegals
What backs bitcoins ... the full faith and credit of what?
Capitalism. A bitcoin is worth what somebody else is willing to pay for it. Bitcoin's value is controlled by "the people". If "the people" lose faith, it loses value. I can live with that.
Considering there are more businesses adding bitcoin support every day, it appears collective confidence is growing rather than fading.
I'll concede that events may occur where that confidence may be shaken or collapse. I just think it is becoming less likely every day.
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