EUROPEAN BANKING AUTHORITY ADVISES BANKS IN EU NOT TO BUY, HOLD OR SELL VIRTUAL

[fonzie]

But this a logical problem now, if a bank already holds bitcoins...

...what should they do now?!

They should not hold, but also should not sell them...

  

Burn the private keys!

[gizmoh]

http://www.eba.europa.eu/documents/10180/657547/EBA-Op-2014-08+Opinion+on+Virtual+Currencies.pdf

just read the thing..

"178. The EBA also recommends that EU legislators consider declaring virtual currency exchanges
as ‘obliged entities’ that must comply with anti-money laundering and counter terrorist
financing requirements set out in the EU Anti Money Laundering Directive"


stamp is already doing this.

Bitstamp will now have to revise their AML questionnaire to comply with EU standards.

Question 11) Are you a terrorist?

 

[Wolf Rainer]

The banks are afraid after United States legalized the Bitcoins holding, selling and buying (with the Auction of FBI), so they want create panic in the financial institutions and people and preserv they power.

[JustBetweenUs]

Here's the first thing they want to bring with this regulation:

Scheme governance authority

153. To address risk driver a)
 –
 i.e. that anyone, including criminals, can anonymously create a VC without being held responsible for any changes made to the VC protocol, or other core elements of the VC scheme by others at a later stage
 –
 the creation of an entity that is accountable to the regulator would need to be a mandatory requirement for a VC scheme to be regulated as a financial service and for it to be allowed to interact with existing regulated financial services. 154.
 
The entity would be called the ‘scheme
governance
authority’, which is a non
-governmental entity that establishes and governs the rules for the use of a particular VC scheme.
24
 It is a legal person, and is responsible for maintaining the integrity of the central transaction ledger, the protocol, and any other core functional component of the scheme. The scheme governance authority would be required to comply with regulatory and supervisory requirements of various kinds to mitigate identified risks

[Sandia]

http://mobile.reuters.com/article/idUSL6N0PE4M420140704?irpc=932

TOP NEWS
EUROPEAN BANKING AUTHORITY ADVISES BANKS IN EU NOT TO BUY, HOLD OR SELL VIRTUAL CURRENCIES LIKE BITCOIN UNTIL NEW RULES IN PLACE
Fri, Jul 04 05:00 AM EDT

Which implies:
1. The EBA expects that banks are interested in buying, selling and holding bitcoin, and
2. Once the rules are in place, banks are free to do.

Uber-bullish.  Although I would rather banks did not touch bitcoin.

[dgarcia]

Bitstamp will now have to revise their AML questionnaire to comply with EU standards.

Question 11) Are you a terrorist?

 

Please tell me that this is not true!

A few years ago I filled in this US-ESTA form and I thought:


Must you travel through this country of apparently retards?

1. Are you a spy?
2. Have you the intention to commit terroristical activities in the US?
3. Was you involved into nazi crimes?


Seems that the EU is not more sophisticated 

[Paashaas]

".......Until new rules in place".

This is actually bullish.

+ very very bullish !

+1

Can anyone here remove Falllling from this forum? he keeps trolling and acting like a real retard what results in toxine pages.

[zimmah]

http://mobile.reuters.com/article/idUSL6N0PE4M420140704?irpc=932

TOP NEWS
EUROPEAN BANKING AUTHORITY ADVISES BANKS IN EU NOT TO BUY, HOLD OR SELL VIRTUAL CURRENCIES LIKE BITCOIN UNTIL NEW RULES IN PLACE
Fri, Jul 04 05:00 AM EDT

Which implies:
1. The EBA expects that banks are interested in buying, selling and holding bitcoin, and
2. Once the rules are in place, banks are free to do.

Uber-bullish.  Although I would rather banks did not touch bitcoin.

That is indeed bullish, however it will take a long time for these per a-bears to understand that this news is not bearish.

Seriously I'd expect the people on this forum to be smarter but most of them seem pretty stupid.

[zimmah]

Bitstamp will now have to revise their AML questionnaire to comply with EU standards.

Question 11) Are you a terrorist?

 

1. Are you a spy?
2. Have you the intention to commit terroristical activities in the US?
3. Was you involved into nazi crimes?

YES, yes to all

[maker88]

".......Until new rules in place".

This is actually bullish.

+ very very bullish !

the price droping and dumping told you this is more bear trap than bull trap, stop fooling people !

perhaps you also don't understand what a bear trap is? let me illustrate it for you. V. see the middle? thats where we are. see the right side? can you guess where that is on the time line? probably not, cuz you're dumb.

you say this is a good buying time? then go ahead sell your house and buy bitcoins or stop fooling people

i am buying bitcoins failing. hows that drop to 300 last month coming? oh never happened? imagine that...

[maker88]

http://mobile.reuters.com/article/idUSL6N0PE4M420140704?irpc=932

TOP NEWS
EUROPEAN BANKING AUTHORITY ADVISES BANKS IN EU NOT TO BUY, HOLD OR SELL VIRTUAL CURRENCIES LIKE BITCOIN UNTIL NEW RULES IN PLACE
Fri, Jul 04 05:00 AM EDT

Which implies:
1. The EBA expects that banks are interested in buying, selling and holding bitcoin, and
2. Once the rules are in place, banks are free to do.

Uber-bullish.  Although I would rather banks did not touch bitcoin.

That is indeed bullish, however it will take a long time for these per a-bears to understand that this news is not bearish.

Seriously I'd expect the people on this forum to be smarter but most of them seem pretty stupid.

lets just thank them for the opportunity to keep buying more before it goes to 700

[Dalmar]

PBOC issues warning: price drops 60%
EBA issues warning: price drops 4.5%

Y u so weak EBA?

[Rannasha]

So basically the EBA is recommending its customers (banks) to not prefer a competing product (Bitcoin) over its own product (Euro). Why would this be news in any way?

It's like Coca Cola advising people to not drink Pepsi.

[Tzupy]

...
It's like Coca Cola advising people to not drink Pepsi.

Well, not until Pepsi will be properly regulated! 

It's not bearish, but some idiotic bank clerks may interpret it the wrong way and be difficult about sending / withdrawing fiat to / from exchanges.

[btcxyzzz]

delete this fuckin' topic because it's written in CAPS, no matter the crap in it.

[dropt]

delete this fuckin' topic because it's written in CAPS, no matter the crap in it.

Or rather move it to: Bitcoin Discussion > Press.  WHERE IT BELONGS.

This shit doesn't belong here.  It's not speculation, it's news.  Put it in the news section.

[ElectricMucus]

delete this fuckin' topic because it's written in CAPS, no matter the crap in it.

Or rather move it to: Bitcoin Discussion > Press.  WHERE IT BELONGS.

This shit doesn't belong here.  It's not speculation, it's news.  Put it in the news section.

• News articles may be discussed here on the day of announcement, but afterwards discussion will need to take place in the Press section.

Come on just join the party, tying to spin this as it were "good for Bitcoin" and "really bullish".

[dropt]

Come on just join the party, tying to spin this as it were "good for Bitcoin" and "really bullish".

I tried, but I almost had an aneurism.

[Brewins]

They are fucking stupid or what? Bank's does not Hold/Buy or sell bitcoins, people do.
And bank's can't stop you to spend your money even if it's bitcoin or some other virtual currency.

Banks invest most of their customer's money in other assets other than fiat(foreign currencies, stocks, gold, stuff like that), its called fractionary reserve. They could invest in bitcoin too.

".......Until new rules in place".

This is actually bullish.

+ very very bullish !

1. "keep away from bitcoin!"
2. (secretly buy shit load of bitcoins yourself)
3. "now buy bitcoin!"
4.
5. profit

1 -  "keep away from bitcoin!"
2 - Price drops by less than $20
3 - You can only facepalm yourself by your failure

[Benjig]

http://mobile.reuters.com/article/idUSL6N0PE4M420140704?irpc=932

TOP NEWS
EUROPEAN BANKING AUTHORITY ADVISES BANKS IN EU NOT TO BUY, HOLD OR SELL VIRTUAL CURRENCIES LIKE BITCOIN UNTIL NEW RULES IN PLACE
Fri, Jul 04 05:00 AM EDT

Why would you wait until there are laws or rules that will tax the amount you buy, better to buy now and nobody knew you did it.