Tag Archives: Bitcoin

IMF Chief Suggests IMFCoin Cryptocurrency as Possibility

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“IMF Director Christine Lagarde hinted at the development of a digital currency, similar to the bitcoin, for the organization’s special drawing rights (SDR) mechanism to replace existing reserve currencies.  The international finance organization has already begun exploring the possibility with an External Advisory Group discussion last December. Referring to a possible future situation along these lines, Lagarde said that the prospect of a digital currency as a replacement for reserve currencies that are part of the SDR was not ‘a far-fetched hypothetical.'”

Read more: http://www.investopedia.com/news/imf-chief-suggests-imfcoin-cryptocurrency-possibility/

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The head of the IMF says bitcoin is ‘too expensive for me at the moment’

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“Bitcoin is too expensive for one of the most powerful women in finance.   Christine Lagarde, the head of the International Monetary Fund, on Friday told CNBC’s Sara Eisen that bitcoin is ‘too expensive for me at the moment’ when asked if she would ever buy into the red-hot digital currency.  Lagarde last month gave a soft defense of the cryptocurrency during a speech in London.  She said cryptocurrencies such as bitcoin could ‘give existing currencies and monetary policy a run for their money.'”

Read more: http://www.businessinsider.com/imf-head-christine-lagarde-says-bitcoin-is-too-expensive-for-me-at-the-moment-2017-10

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Bitcoin Now Buys You Citizenship in Pacific Nation of Vanuatu

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“The Pacific island nation of Vanuatu has become the world’s first county to accept the virtual currency bitcoin for its citizenship program.  The Vanuatu Information Centre (VIC) announced that its Development Support Program (DSP) will allow foreigners to qualify for Vanuatuan citizenship through a one-time payment of $200,000 – or its cryptocurrency equivalent.  At current market prices, this puts the price of citizenship for the so-called Paradise Islands at slightly more than 43 bitcoins.”

Read more: http://www.newsweek.com/bitcoin-now-buys-you-citizenship-pacific-nation-vanuatu-680443

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European Central Bank Criticizes Estonian National Cryptocurrency Plans

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“Despite the dismissive statements from the European Central Bank’s president, Estonia may still be able to conduct a launch of a national cryptocurrency if it is to do so through a private-public partnership. The head of Estonia’s E-residency scheme’s public relations department, Arnaud Castaignet, has expressed that the republic plans to move forward with the project – however, made no reference to the potential ramifications of EU obligations with regard to the national cryptocurrency.”

Read more: https://news.bitcoin.com/european-central-bank-criticizes-estonian-national-cryptocurrency-plans/

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Overstock.com to Open Exchange for Legal Crypto-Asset Trading

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“In short, the ATS will offer a legally approved, regulated alternative to a major securities exchange, such as the New York Stock Exchange and Nasdaq.  As such, the platform may be seen as a major step forward for the token space. Simply put, there are currently no other regulator-approved ways for U.S. investors to trade security tokens.”

Read more: https://www.coindesk.com/regulated-icos-arrive-overstock-open-exchange-legal-token-trading/

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Dubai Will Issue First Ever State Cryptocurrency

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“Dubai has officially launched its own cryptocurrency called emCash, according to announcements by local news media outlets. The cryptocurrency would be used for payment of governmental and nongovernmental services.  According to Ali Ibrahim, Deputy Director General of Dubai Economy, the token will be considered legal tender ‘for various government and non-government services, from their daily coffee and children’s school fee to utility charges and money transfers.'”

Read more: https://cointelegraph.com/news/dubai-will-issue-first-ever-state-cryptocurrency

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IMF Head Foresees the End of Banking, Triumph of Cryptocurrency

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“In a remarkably frank talk at a Bank of England conference, the Managing Director of the International Monetary Fund has speculated that Bitcoin and cryptocurrency have as much of a future as the Internet itself. It could displace central banks, conventional banking, and challenge the monopoly of national monies.  Christine Lagarde–a Paris native who has held her position at the IMF since 2011–says the only substantial problems with existing cryptocurrency are fixable over time.”

Read more: https://fee.org/articles/imf-head-predicts-the-end-of-banking-and-the-triumph-of-cryptocurrency/

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Bitcoin Icon Roger Ver Is Starting His Own Country With No Government

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“Roger and the rest of the Free Society team are negotiating with different, undisclosed national governments. The Free Society’s goal is to reach an agreement with a national government that will grant them sovereignty over a piece of the existing government’s land, or a nearby territory.  Free Society will operate with a Voluntarist — or Anarcho Capitalist — structure, where disputes come to resolutions through private arbitration, and services like law enforcement and protection emerge from the free market.”

Read more: https://www.bitsonline.com/roger-ver-country-government/

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Investment firm VanEck calls bitcoin a ‘fad,’ then files for bitcoin ETF

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“Money management firm VanEck is both skeptical of bitcoin and planning to sell a related investment product, illustrating a rising perception that the surge of interest in the digital currency creates a high-risk opportunity that may be too big to miss.”

Read more: https://www.cnbc.com/2017/08/14/investment-firm-vaneck-calls-bitcoin-a-fad-then-files-for-bitcoin-etf.html

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IRS Now Has a Tool to Spy On Bitcoin Users

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“The Internal Revenue Service has purchased specialist software to track those using bitcoin, according to a contract obtained by The Daily Beast.  The document highlights how law enforcement isn’t only concerned with criminals accumulating bitcoin from selling drugs or hacking targets, but also those who use the currency to hide wealth or avoid paying taxes.  The IRS has claimed that only 802 people declared bitcoin losses or profits in 2015; clearly fewer than the actual number of people trading the cryptocurrency—especially as more investors dip into the world of cryptocurrencies, and the value of bitcoin punches past the $4,000 mark.”

Read more: http://www.thedailybeast.com/irs-now-has-a-tool-to-unmask-bitcoin-tax-cheats

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