The Bitcoin Investment Fund (GBTC) trading is now live. This means that bitcoin finally made it to the international traditional markets. From the slums of the internet cypher community and the uncertainties of volatility to the benches of international financial markets, Bitcoin has come a long and hard way, and finally we can say that is now being recognized as a trusted investment fund.
On Wednesday, March 25 the Securities and Exchange Commission (SEC) adopted new rules to facilitate smaller companies’ access to capital. The new rules presented by the SEC will provide a greater level of confidence from investors and there will be an increased amount of choices. Also Read: Bitcoinist Assistant Editor’s Formal BitLicense Comment These new rules are said to be updated and expanded from Regulation A, an existing exemption from registration for smaller issuers of securities. The
The UK government plans on regulating digital currency exchanges in an effort to support technological innovation while preventing criminal use of such technologies. In a document released along side the announcement of the 2015 budget, the Treasury stated that they intended to apply anti-money laundering regulation to digital currency exchanges within the UK. Also read: Bitcoin Taxes: Working for Bitcoin The Treasury plans to seek consultation later this year to gather views on how the
Navajo Coin recently announced that they will be releasing a new wallet enabling full anonymous transactions. The Navajo Developer team has been working on a new technology that will turn their coin into a fully secure anonymous crypto currency.
Welcome back to Bitcoin Taxes, our special series over Bitcoin taxation with Mr. Daniel Winters. This week, we will be talking about what you should do when you work for Bitcoin rather than fiat currency. As a reminder, be sure to read last week’s article which covered the basics of Bitcoin taxation within the United States if you have not done so already. Each week we will build upon the previous article to cover a
With approval from the Financial Industry Regulatory Authority (FINRA), the Bitcoin Investment Trust (BIT) is set to be the first publicly traded bitcoin fund. The exchange beats the famous Winklevoss Twins in their attempt to create the first Bitcoin ETF. The Winklevoss Twins’ exchange has been ready for more than a year, but has failed to launch due to not getting regulatory approval. The reason for the delay is that they are trying to create
Want to start a new Bitcoin business in California? A new legislative proposal may make you think twice. On February 27, 2015 AB 1326, was introduced by Matt Dababneh as part of the Money Transmission Act. As an Assembly member, Matt Dababneh represents the Banking and Finance Committee as Chairman. He and the state of California want you to pay $5,000 just to start your business and be considered a legal operation. Also Read: OP-ED:
This author’s views do not necessarily reflect those of Bitcoinist.net. In early February, the New York Department of Financial Services (NYDFS) released their revised BitLicense proposal to the public. This revision took place following a 90 day public commenting period for the first BitLicense draft held by the department during the latter part of 2014. Recently, the Department has opened up an additional 30-day commenting period for the revised draft, in which anyone can submit
This author’s views do not necessarily reflect those of Bitcoinist.net. Right now, the New York Department of Financial Services (NYDFS) is holding a 30-day public commenting period for the revised draft of its BitLicense regulation. By now, everyone in the Bitcoin community probably knows what BitLicense is; all cryptocurrency businesses in the state of New York that fall under the regulation’s jurisdiction must apply for a special license in order to operate in the state.
LedgerX is a trading and clearing platform exchange dealing with Bitcoin. The company is currently seeking for regulatory approval from the U.S. Commodity Futures Trading Commission (CFTC) to start dealing with bitcoin. If approved, LedgerX will be the first federally regulated bitcoin exchange and clearing house to list bitcoin options for the institutional market.
In the summer of 2014 Coinbase, a bitcoin wallet and exchange service, proposed changes to the BitLicense draft, which was proposed by the New York State Department of Financial Services (NYDFS). The bill was opened up to a 30-day comment period at which time Coinbase submitted a 15 page proposal for changes to the draft. In December, the NYDFS’s released its revised BitLicense, and while many agree it’s a step in the right direction, Coinbase
Italy recently declared that it would not tax digital currencies like Bitcoin. This is a great step in the right direction for the entire Bitcoin community because it opens up the market for Bitcoin usage. Small, medium and big businesses can accept Bitcoin without the fear of the Italian tax office coming after them for accepting the digital currency as payment for their services and/or products. This ruling also means that crypto exchanges will not be
We are super excited to kick off this new series covering in depth issues with Bitcoin taxes within the United States. Bitcoinist will be partnering with Daniel Winters of Global Tax, LLC to bring you weekly content. This weekly series will run every Thursday up until the tax deadline of April 15th, and after that point, the series will become a bi-weekly publication, as there are still many topics to cover. In addition to the
Daniel Winters of Global Tax, LLC sits down to talk with Scott of Bitcoinist about basic US tax rules for Bitcoin. He is knowledgeable from everything like corporate tax to personal income tax. Daniel has been consulting many people and businesses in the Bitcoin ecosystem as well as recently giving a presentation at the Bitcoin Center in NYC. Daniel was a significant presence at the North American Bitcoin Conference in Miami where we were able to
It was not long ago when certain countries were being very vocal and skeptical towards Bitcoin. For example, France cracked down on all things crypto related due to a combination of fear and poor information. People tend to avoid what they do not understand. However as time progressed and France began to understand what Bitcoin was all about, including the benefits it could give to the economy, they somewhat changed their stance on the currency. This was
The ambitions of a Melbourne-based bitcoin mining pool, Bitcoin Group, to go public has have have been put on hold by the country’s regulators. The company announced back in October of 2014 that they are pursuing an IPO on the Australian Securities Exchange (ASX), around to the Sydney Morning Herald. But a stop order on pre-prospectus publications by the mining company has been issued by the Australian Securities & Investments Commission (ASIC), has put a
“Only mathematicians can “prove” things using pen and paper. The rest of us have to take our ideas pragmatically into the real world and see what works.” David Brin in The Transparent Society (1998) I don’t currently have a car, so when my VA appointments in Little Rock happen, I take the Disabled American Veterans van, which is a volunteer operated transportation service affiliated with the VA. One of the drivers in my town has
On Wednesday, February 4, Ben Lawsky, the Superintendent of the New York Department of Financial Services (NYDFS), released the revised version of the infamous BitLicense. This piece of regulation will require all Bitcoin businesses in New York that deal with transmitting Bitcoin, and exchanging it for fiat, to obtain a license. Holding a license will require businesses to comply with several stipulations, the major ones being capital requirements, record keeping standards, an Anti Money Laundering
While countries like Bangladesh and Ecuador are outright banning bitcoin and other digital currencies, Italy has taken an interesting first stance on the matter. In a notice on virtual currencies, published on January 30, the Central Bank of Italy acknowledged the use of virtual currencies as legal in their country. The Central Bank of Italy started off their notice with an explanation of digital currency, then noted that the Financial Action Task Force (FATF) published
The last several days have been rough and tumble both for the Bitcoin fiat valuation and the new, supposedly regulated Coinbase Exchange. As mentioned by CoinDesk earlier in the week, California regulators are taking exception to the idea that they have given approval for Coinbase’s operation. When probed on the matter, Coinbase spokesman James Watkins said: “The Exchange is also available to users in California and New York. These states fall into a regulatory gray
It seems as though financial figures from all over are beginning to take note of bitcoin, especially with the recent news of regulated exchanges. Every day, people are starting to see bitcoin appear in the headlines either from companies adopting it, its price rallying or falling, or making waves in the financial regulation sector. However, education on the short history still seems to be an issue for people looking to learn all they can about
Coinbase Invites Traders to the Moon with New, Regulated Exchange Coinbase has reinvigorated the Bitcoin market with news that today, Monday the 26th of January, they are launching a new, regulated exchange called Lunar. At the beginning of last month, Coinbase expanded its regular wallet services to include US dollar wallets for people in 16 US states. Since then, they’ve gotten approval in another eight. The wallet service is funded and withdrawn from regular US
The North American Bitcoin Conference got off to a good start on January 17th, despite the tumbling value of Bitcoin in the last couple weeks. The presentations and panels were loaded with heavy weights in the industry, including Jeff Garzik of Bitpay, Henry Yeh of Binary Financial, Dan Morehead of Pantera Capital, as well Sam Dastyari an, Australian Senator, and many others. Several new innovations were on display as well, with Ledger Wallet showing off