India’s finance minister has an inter-ministerial meeting today to examine risks related to virtual currencies like bitcoin.

According to local reports, India’s finance minister Arun Jaitley convened an inter-ministerial meeting to discuss risks related to virtual currencies. The meeting was attended by several prominent decision makers including India’s IT minister, economic affairs minister, the financial services secretary and other senior officials.

First reported by the Press Trust of India (PTI), a non-profit news cooperative, the finance minister discussed ‘several concerns’ related to bitcoin. Details remain scarce and there’s no word on what these ‘concerns’ are. However, no decisions related to digital currencies were taken, according to a PTI source.

In March, the Indian finance ministry formed an inter-governmental committee to research and propose a framework for the future of virtual currencies in the country. The committee has taken cues from existing regulatory and legal structures toward digital currencies from countries like Japan and the United States. Toward the end of May, the government established a public forum to invite citizen comments on virtual currencies. An overwhelming majority called for the legalization of digital currencies in the country.

The last official statement by the government, via India’s central bank, called for caution when using digital currencies, adding that any companies dealing with ‘Bitcoin or any virtual currency’ weren’t licensed or authorized to do so.

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https://www.cryptocoinsnews.com/indias-finance-minister-holds-meeting-discuss-bitcoin-risks/

According to reports, some proposed U.S. legislative framework for virtual currencies will be presented in San Diego sometime between July 14-20. The “Uniform Regulation of Virtual Currencies Business Act” was drafted by the Uniform Law Commission (ULC), a nonprofit that tries to establish a statutory law across many jurisdictions and states.

ULC’s Virtual Currency Committee Framework May Not Be Good for Bitcoin

The man who is currently fighting the New York state financial services department has reported that a new virtual currency act will be revealed to the public soon. Theo Chino has been battling the New York Bitlicense for quite some time and talked with the ULC’s Virtual Currency Committee about the new legislative framework. Chino thinks the new act will not be good for bitcoin-based businesses and he believes the committee doesn’t really understand how the technology works.     

“The last conversation led me to believe that he did not care about the academic research on the true nature of Bitcoin but was more interested in his personal notoriety as the chair of the committee,” explains Chino’s announcement.

     
Read more
https://news.bitcoin.com/upcoming-uniform-regulation-virtual-currencies/

A new virus displaying behavior markedly similar to WannaCry is attacking Russian and Ukrainian company computers.

According to local reports, the Petya virus is locking computers and demanding payment of a $300 ransom in Bitcoins to regain control.

“It blocks computers and demands $300 in bitcoins,” specialist Group-IB stated to RIA Novosti.

“The attack happened from around 2pm. Judging from photographs, it is the cryptolocker [ransomware] Petya. The way it is spreading through local networks is similar to the WannaCry virus.”

WannaCry’s Bitcoin ransomware demands caused havoc worldwide in May after employees were locked out of computers in a range of locations.

The attack exposed antiquated equipment and lax security commonplace in many major corporate and public sector computer networks, with victims such as the UK National Health Service particularly vulnerable due to the extensive use of unsupported Windows XP software.

Even India’s ATM network was feared to be a likely target.

Petya has already claimed major Russian prizes such as gas giants, as well as Ukrainian postal service Novaya Pochta.

The company stated in a Facebook post that it was temporarily unable to service customer requests due to the Petya attack.

https://cointelegraph.com/news/wannacry-some-more-petya-bitcoin-ransomware-attacks

Present day Bitcoin and altcoin development appear to be recounting a theory that played out in the early mining industry. 

As was the pattern during the actual gold rush of the 1800s, while some people took the risk and spent their time looking for gold, other folks watched on non-judgmentally and lucratively supplied the "picks and shovels" that enabled the fever-pitched masses to take a shot at "striking it big."

Drawing on some similarities and contrasts between the actual "gold rush" and the new "digital gold rush" provides a good framework to describe how industries today are being impacted by Bitcoin.

Bitcoin evangelist and technologist Melvin Petties explains how the emergence of Bitcoin has given rise to different kinds of related endeavors, pointing out the attitude of some key players and the impact on the crypto ecosystem.

Picks And Shovels Model: Industries That Make Equipment

According to Petties, in the olden days, the absolute quantity of precious metal was not known so the risk of participation was greater. The big rewards were random yet impactful - whole towns were built from major gold strikes, which made the lure to participate even greater.  People from all walks of life, even the very poor, were compelled to participate and their chances of success were arguably relatively the same.

Continue
https://cointelegraph.com/news/bitcoin-development-similar-to-1800s-gold-rush-expert

Очень интересно, как скажется выход Британии из ЕС на росте биткоина.

Отличные новости

Да, сколько еще будет таких уязвимостей в новых валютах найдено, взлетов и падений...

Скорее всего, валюта так и останется на стадии эксперимента.