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Bitcoin => Legal => Topic started by: btc2day.cz on July 21, 2014, 11:59:10 PM



Title: Australian is getting ready to regulate bitcoin
Post by: btc2day.cz on July 21, 2014, 11:59:10 PM
It seems that there is a forthcoming regulation on bitcoin in Australia to be released later this year or in 2015. The Financial inquiry commission headed by an ex-banker is due to give its recommendation to the government in November: http://www.smh.com.au/it-pro/business-it/tax-office-responds-to-rise-of-bitcoin-20140721-zuegm.html


Title: Re: Australian is getting ready to regulate bitcoin
Post by: BTCmoons on July 22, 2014, 12:11:58 AM
This should help give bitcoin some level of legitimacy and hopefully will help people want to start using bitcoin


Title: Re: Australian is getting ready to regulate bitcoin
Post by: cryptofan5 on July 22, 2014, 12:12:19 AM
Wasn't there already some kind of regulation for e-currencies there?


Title: Re: Australian is getting ready to regulate bitcoin
Post by: LostDutchman on July 22, 2014, 02:12:48 AM
It seems that there is a forthcoming regulation on bitcoin in Australia to be released later this year or in 2015. The Financial inquiry commission headed by an ex-banker is due to give its recommendation to the government in November: http://www.smh.com.au/it-pro/business-it/tax-office-responds-to-rise-of-bitcoin-20140721-zuegm.html

Down Under has forgotten its roots.


Title: Re: Australian is getting ready to regulate bitcoin
Post by: wolfYella on July 22, 2014, 07:51:04 PM
It seems that there is a forthcoming regulation on bitcoin in Australia to be released later this year or in 2015. The Financial inquiry commission headed by an ex-banker is due to give its recommendation to the government in November: http://www.smh.com.au/it-pro/business-it/tax-office-responds-to-rise-of-bitcoin-20140721-zuegm.html

Down Under has forgotten its roots.
Don't you think that some level if regulation would somewhat protect consumers?


Title: Re: Australian is getting ready to regulate bitcoin
Post by: jbrnt on July 22, 2014, 07:57:43 PM
They are not regulating bitcoin yet, they are contemplating its position in tax. The first thing governments think about is how to grab a share  >:(


Title: Re: Australian is getting ready to regulate bitcoin
Post by: LostDutchman on July 22, 2014, 08:00:02 PM
It seems that there is a forthcoming regulation on bitcoin in Australia to be released later this year or in 2015. The Financial inquiry commission headed by an ex-banker is due to give its recommendation to the government in November: http://www.smh.com.au/it-pro/business-it/tax-office-responds-to-rise-of-bitcoin-20140721-zuegm.html

Down Under has forgotten its roots.
Don't you think that some level if regulation would somewhat protect consumers?

No.


Title: Re: Australian is getting ready to regulate bitcoin
Post by: spazzdla on July 22, 2014, 08:02:25 PM
It seems that there is a forthcoming regulation on bitcoin in Australia to be released later this year or in 2015. The Financial inquiry commission headed by an ex-banker is due to give its recommendation to the government in November: http://www.smh.com.au/it-pro/business-it/tax-office-responds-to-rise-of-bitcoin-20140721-zuegm.html

Down Under has forgotten its roots.
Don't you think that some level if regulation would somewhat protect consumers?

Regulation only protects the stupid and srcews the average person.. HARD.  
May I point you to the "clean water act" where compaines can now pump w/e they feel like into the ground and not tell a soul.  Regulation is moronic.


Title: Re: Australian is getting ready to regulate bitcoin
Post by: LostDutchman on July 22, 2014, 08:18:15 PM
It seems that there is a forthcoming regulation on bitcoin in Australia to be released later this year or in 2015. The Financial inquiry commission headed by an ex-banker is due to give its recommendation to the government in November: http://www.smh.com.au/it-pro/business-it/tax-office-responds-to-rise-of-bitcoin-20140721-zuegm.html

Down Under has forgotten its roots.
Don't you think that some level if regulation would somewhat protect consumers?

Regulation only protects the stupid and srcews the average person.. HARD.  
May I point you to the "clean water act" where compaines can now pump w/e they feel like into the ground and not tell a soul.  Regulation is moronic.

+1

;)


Title: Re: Australian is getting ready to regulate bitcoin
Post by: rackcityb1 on July 22, 2014, 08:26:46 PM
It seems that there is a forthcoming regulation on bitcoin in Australia to be released later this year or in 2015. The Financial inquiry commission headed by an ex-banker is due to give its recommendation to the government in November: http://www.smh.com.au/it-pro/business-it/tax-office-responds-to-rise-of-bitcoin-20140721-zuegm.html

Down Under has forgotten its roots.
Don't you think that some level if regulation would somewhat protect consumers?

Regulation only protects the stupid and srcews the average person.. HARD.  
May I point you to the "clean water act" where compaines can now pump w/e they feel like into the ground and not tell a soul.  Regulation is moronic.
There are a lot of regulations that do not do a good job, and some regulations are excessive, but the goals of regulations are to protect consumers.


Title: Re: Australian is getting ready to regulate bitcoin
Post by: LostDutchman on July 22, 2014, 08:34:58 PM
It seems that there is a forthcoming regulation on bitcoin in Australia to be released later this year or in 2015. The Financial inquiry commission headed by an ex-banker is due to give its recommendation to the government in November: http://www.smh.com.au/it-pro/business-it/tax-office-responds-to-rise-of-bitcoin-20140721-zuegm.html

Down Under has forgotten its roots.
Don't you think that some level if regulation would somewhat protect consumers?

Regulation only protects the stupid and srcews the average person.. HARD.  
May I point you to the "clean water act" where compaines can now pump w/e they feel like into the ground and not tell a soul.  Regulation is moronic.
There are a lot of regulations that do not do a good job, and some regulations are excessive, but the goals of regulations are to protect consumers.

Horseshit.

The goals of regulation are to generate taxes, control the individual and expand the power of government.


Title: Re: Australian is getting ready to regulate bitcoin
Post by: rackcityb1 on July 22, 2014, 09:02:01 PM
It seems that there is a forthcoming regulation on bitcoin in Australia to be released later this year or in 2015. The Financial inquiry commission headed by an ex-banker is due to give its recommendation to the government in November: http://www.smh.com.au/it-pro/business-it/tax-office-responds-to-rise-of-bitcoin-20140721-zuegm.html

Down Under has forgotten its roots.
Don't you think that some level if regulation would somewhat protect consumers?

Regulation only protects the stupid and srcews the average person.. HARD.  
May I point you to the "clean water act" where compaines can now pump w/e they feel like into the ground and not tell a soul.  Regulation is moronic.
There are a lot of regulations that do not do a good job, and some regulations are excessive, but the goals of regulations are to protect consumers.

Horseshit.

The goals of regulation are to generate taxes, control the individual and expand the power of government.
What part of the NY bitcoin regulation will do any of that?


Title: Re: Australian is getting ready to regulate bitcoin
Post by: nottm28 on July 22, 2014, 09:03:18 PM
I wonder which Australian would do such a thing...


Title: Re: Australian is getting ready to regulate bitcoin
Post by: LostDutchman on July 22, 2014, 09:52:11 PM
It seems that there is a forthcoming regulation on bitcoin in Australia to be released later this year or in 2015. The Financial inquiry commission headed by an ex-banker is due to give its recommendation to the government in November: http://www.smh.com.au/it-pro/business-it/tax-office-responds-to-rise-of-bitcoin-20140721-zuegm.html

Down Under has forgotten its roots.
Don't you think that some level if regulation would somewhat protect consumers?

Regulation only protects the stupid and srcews the average person.. HARD.  
May I point you to the "clean water act" where compaines can now pump w/e they feel like into the ground and not tell a soul.  Regulation is moronic.
There are a lot of regulations that do not do a good job, and some regulations are excessive, but the goals of regulations are to protect consumers.

Horseshit.

The goals of regulation are to generate taxes, control the individual and expand the power of government.
What part of the NY bitcoin regulation will do any of that?

All of it!


Title: Re: Australian is getting ready to regulate bitcoin
Post by: SHA255 on July 22, 2014, 09:57:54 PM
It seems that there is a forthcoming regulation on bitcoin in Australia to be released later this year or in 2015. The Financial inquiry commission headed by an ex-banker is due to give its recommendation to the government in November: http://www.smh.com.au/it-pro/business-it/tax-office-responds-to-rise-of-bitcoin-20140721-zuegm.html

Down Under has forgotten its roots.
Don't you think that some level if regulation would somewhat protect consumers?

Regulation only protects the stupid and srcews the average person.. HARD.  
May I point you to the "clean water act" where compaines can now pump w/e they feel like into the ground and not tell a soul.  Regulation is moronic.
There are a lot of regulations that do not do a good job, and some regulations are excessive, but the goals of regulations are to protect consumers.

Horseshit.

The goals of regulation are to generate taxes, control the individual and expand the power of government.
What part of the NY bitcoin regulation will do any of that?

All of it!
The NY regulations are going to force exchanges to follow AML rules and to hold enough bitcoin to cover the amount of bitcoin that customers hold at the exchange. It also subject exchanges to audits to make sure they hold enough bitcoin as per above. Have you even read the proposed regulations? Are you at all familiar with them?


Title: Re: Australian is getting ready to regulate bitcoin
Post by: LostDutchman on July 22, 2014, 10:04:41 PM
It seems that there is a forthcoming regulation on bitcoin in Australia to be released later this year or in 2015. The Financial inquiry commission headed by an ex-banker is due to give its recommendation to the government in November: http://www.smh.com.au/it-pro/business-it/tax-office-responds-to-rise-of-bitcoin-20140721-zuegm.html

Down Under has forgotten its roots.
Don't you think that some level if regulation would somewhat protect consumers?

Regulation only protects the stupid and srcews the average person.. HARD.  
May I point you to the "clean water act" where compaines can now pump w/e they feel like into the ground and not tell a soul.  Regulation is moronic.
There are a lot of regulations that do not do a good job, and some regulations are excessive, but the goals of regulations are to protect consumers.

Horseshit.

The goals of regulation are to generate taxes, control the individual and expand the power of government.
What part of the NY bitcoin regulation will do any of that?

All of it!
The NY regulations are going to force exchanges to follow AML rules and to hold enough bitcoin to cover the amount of bitcoin that customers hold at the exchange. It also subject exchanges to audits to make sure they hold enough bitcoin as per above. Have you even read the proposed regulations? Are you at all familiar with them?

Yes I am and if this is not expanding the power of government, please tell me exactly what the fuck it is!


Title: Re: Australian is getting ready to regulate bitcoin
Post by: Inotanewbie on July 23, 2014, 12:59:42 AM
It seems that there is a forthcoming regulation on bitcoin in Australia to be released later this year or in 2015. The Financial inquiry commission headed by an ex-banker is due to give its recommendation to the government in November: http://www.smh.com.au/it-pro/business-it/tax-office-responds-to-rise-of-bitcoin-20140721-zuegm.html

Down Under has forgotten its roots.
Don't you think that some level if regulation would somewhat protect consumers?

Regulation only protects the stupid and srcews the average person.. HARD.  
May I point you to the "clean water act" where compaines can now pump w/e they feel like into the ground and not tell a soul.  Regulation is moronic.
There are a lot of regulations that do not do a good job, and some regulations are excessive, but the goals of regulations are to protect consumers.

Horseshit.

The goals of regulation are to generate taxes, control the individual and expand the power of government.
What part of the NY bitcoin regulation will do any of that?

All of it!
The NY regulations are going to force exchanges to follow AML rules and to hold enough bitcoin to cover the amount of bitcoin that customers hold at the exchange. It also subject exchanges to audits to make sure they hold enough bitcoin as per above. Have you even read the proposed regulations? Are you at all familiar with them?

Yes I am and if this is not expanding the power of government, please tell me exactly what the fuck it is!
AML rules are not anything new, they have been in effect for well over a decade now.


Title: Re: Australian is getting ready to regulate bitcoin
Post by: applesRyummy on July 23, 2014, 01:00:41 AM
It seems that there is a forthcoming regulation on bitcoin in Australia to be released later this year or in 2015. The Financial inquiry commission headed by an ex-banker is due to give its recommendation to the government in November: http://www.smh.com.au/it-pro/business-it/tax-office-responds-to-rise-of-bitcoin-20140721-zuegm.html

Down Under has forgotten its roots.
Don't you think that some level if regulation would somewhat protect consumers?

Regulation only protects the stupid and srcews the average person.. HARD.  
May I point you to the "clean water act" where compaines can now pump w/e they feel like into the ground and not tell a soul.  Regulation is moronic.
There are a lot of regulations that do not do a good job, and some regulations are excessive, but the goals of regulations are to protect consumers.

Horseshit.

The goals of regulation are to generate taxes, control the individual and expand the power of government.
What part of the NY bitcoin regulation will do any of that?

All of it!
The NY regulations are going to force exchanges to follow AML rules and to hold enough bitcoin to cover the amount of bitcoin that customers hold at the exchange. It also subject exchanges to audits to make sure they hold enough bitcoin as per above. Have you even read the proposed regulations? Are you at all familiar with them?
+1

Very good point