Bitcoin Forum
May 07, 2024, 09:11:05 AM *
News: Latest Bitcoin Core release: 27.0 [Torrent]
 
   Home   Help Search Login Register More  
Pages: [1]
  Print  
Author Topic: [2017-04-29] West Virginia Bill Aims to Define Bitcoin as a Monetary Instrument  (Read 6613 times)
tyz (OP)
Legendary
*
Offline Offline

Activity: 3360
Merit: 1530



View Profile
April 29, 2017, 12:25:29 PM
 #1

West Virginia Bill Aims to Define Bitcoin as a Monetary Instrument

West Virginia bureaucrats are moving forward to define bitcoin and other digital currencies with an anti-money laundering (AML) bill. The state’s latest House Bill 2585 will add bitcoin to the regions’ AML statutes defining virtual currencies as a ‘monetary instrument.’

https://news.bitcoin.com/west-virginia-bill-define-bitcoin-monetary-instrument/
1715073065
Hero Member
*
Offline Offline

Posts: 1715073065

View Profile Personal Message (Offline)

Ignore
1715073065
Reply with quote  #2

1715073065
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
1715073065
Hero Member
*
Offline Offline

Posts: 1715073065

View Profile Personal Message (Offline)

Ignore
1715073065
Reply with quote  #2

1715073065
Report to moderator
1715073065
Hero Member
*
Offline Offline

Posts: 1715073065

View Profile Personal Message (Offline)

Ignore
1715073065
Reply with quote  #2

1715073065
Report to moderator
Qartada
Hero Member
*****
Offline Offline

Activity: 546
Merit: 500


View Profile WWW
April 29, 2017, 05:01:15 PM
 #2

They're trying to give themselves legitimacy by looking like they're helping Bitcoin out somewhat.  It means that some people will see this as progress even though the only reason they're doing this is so they can get away with charging taxes and regulating exchanges more heavily so that it's actually harder to buy and use Bitcoin.

It's better off as an asset.  Bitcoin doesn't need approval from governments.

Or the feigned acceptance of the US.

Razielle
Member
**
Offline Offline

Activity: 62
Merit: 10


View Profile
April 30, 2017, 06:47:04 AM
 #3

Other states are currently considering very similar moves. I agree completely with what the poster has said above about this being a disingenuous, cynical, money grabbing technique.
pixie85
Hero Member
*****
Offline Offline

Activity: 2142
Merit: 524


View Profile
April 30, 2017, 06:37:45 PM
 #4

They aren't helping, they are probably afraid of Bitcoin financing terrorism. There are similar fears in Europe and as a result we are losing the ability to use unregistered burner phones and exchanges are slowly being pressured into not allowing Bitcoin - Fiat conversion without sharing personal details like an ID scan.
BitcoinPanther
Hero Member
*****
Offline Offline

Activity: 1918
Merit: 564


View Profile
April 30, 2017, 09:32:16 PM
 #5

They aren't helping, they are probably afraid of Bitcoin financing terrorism. There are similar fears in Europe and as a result we are losing the ability to use unregistered burner phones and exchanges are slowly being pressured into not allowing Bitcoin - Fiat conversion without sharing personal details like an ID scan.

Well here goes the the saying, "if you cannot beat them, join them".  It seems they already acknowledged and accepted that they will get hard time killing Bitcoins, instead they have decided to adopt it to implement their laws and control it from within, at least this time through exchanges.  It may not be for Bitcoin's sake but it really help Bitcoin to get acknowledgement as currency, thus making those who do not really know bitcoin at peace in using it.
renfangfua
Sr. Member
****
Offline Offline

Activity: 336
Merit: 250



View Profile
May 01, 2017, 02:32:31 AM
 #6

This is all about taxes. West Virginia has a huge gambling casino that the state profits from. So they are not really concerned about hard working Americans getting harmed by gambling. Those are just typical scare tactics. They have to scare you to get you to agree to give up some of your freedoms so that can pretend that they are protecting you.
olyaru
Sr. Member
****
Offline Offline

Activity: 275
Merit: 250



View Profile
May 02, 2017, 05:40:54 AM
 #7

This is all about taxes. West Virginia has a huge gambling casino that the state profits from. So they are not really concerned about hard working Americans getting harmed by gambling. Those are just typical scare tactics. They have to scare you to get you to agree to give up some of your freedoms so that can pretend that they are protecting you.
Most likely they want to legalize their income To avoid punishment. Only the fact is that they will lose much less than the Bitcoin user.
achow102
Full Member
***
Offline Offline

Activity: 196
Merit: 100



View Profile
May 02, 2017, 05:17:10 PM
 #8

This is all about taxes. West Virginia has a huge gambling casino that the state profits from. So they are not really concerned about hard working Americans getting harmed by gambling. Those are just typical scare tactics. They have to scare you to get you to agree to give up some of your freedoms so that can pretend that they are protecting you.
Most likely they want to legalize their income To avoid punishment. Only the fact is that they will lose much less than the Bitcoin user.

I also think that there is some kind of secret scheme. And what they say in the newspapers is just a cover, and in fact there are completely different goals
Pages: [1]
  Print  
 
Jump to:  

Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!