“Despite reports that the SFC could enact harsh restrictions on bitcoin – one report suggested it would go so far as to ban bitcoin transactions altogether, the SFC issued what amounted to a boilerplate warning to consumers, and blocked financial institutions from holding, investing in or brokering bitcoin transactions. The release indicated that bitcoin fails to meet the definition of a currency according to the criteria set forth by the International Monetary Fund (IMF), as it is not backed by a central bank. Further, the SFC reiterated that digital currencies can be used for illicit means, including money laundering and terrorist financing.”
http://www.coindesk.com/colombia-stops-short-bitcoin-ban-bars-banks-sector/
Related posts:
Revealed: Al-Qaeda’s 22 Tips For Dodging Drones
Google Now Offers End-to-End Encryption on Email
What Is Hemp Plastic
Shock: Federal Reserve Official Calls for End of Fed, Competing Currencies
Egyptian Revolution: What You're Not Being Told
Minnesota City Settles After Cop Uses Mace On Deaf Motorist
China Boosts Economy With Mini Stimulus
The “I Thought Bonds Were Safe” Fallacy…
Drug Policy Alliance: Why isn’t the DEA shut down?
Florida man attacked, arrested for ‘walking on wrong side of the road’
Concealed Guns Are Now Legal in Illinois (But Not Chicago)
New Hampshire General Assembly Approves Marijuana Legalization
Dream Chaser is nearly ready to fly
Carney Gets Ready to Blow Up the World
The Great Beer Conspiracy to Overthrow the U.S.