Taiwan’s Government Says No To Bitcoin ATMs - Taiwan’s financial superordinate Commission (FSC) won't allow the installation of Bitcoin ATMs in the country because it believes Bitcoins don't seem to be a currency and should thus not be accepted by people or banks as payment, said FSC chairman Tseng Ming-chung. Tseng Ming-chung’s statement was reported yesterday by the Central news organization (link via Google Translate), Taiwan’s state-run news service.
TechCrunch’s John Biggs reportable earlier on that U.S.-based company Robocoin plans to bring its Bitcoin ATMs to Taiwan and hong kong as a part of its global enlargement plans. Robocoin chief executive officer Jordan Kelley told us that “Bitcoin demand in Asia is amazing. we have many Asian countries seeking to enhance shopper capability to buy and sell Bitcoin firmly and safely.” We’ve emailed Robocoin for comment regarding how the FSC’s ban can have an effect on its plans in Asia.
Government attitudes toward Bitcoin dissent wide throughout Asia, but the FSC’s decision is yet one {more|one more} sign that the cryptocurrency’s increasing thought acceptance conjointly means it will return beneath scrutiny by more financial regulators.
The value of Bitcoins plunged in Dec once China’s biggest Bitcoin Exchange, BTCChina, stopped accepting deposits in Chinese yuan. the corporate same that the People’s Bank of China (PBoC) had spoken to many Chinese payment processors and asked them to cease mercantilism with Bitcoin exchanges by January 1. The PBoC had enacted a partial ban on Dec. 5, stating that that “Bitcoins are virtual goods that haven't any position or monetary equivalent and should not be used as currency.”
Shortly after, Bitcoin exchanges in India were pack up once its banking regulator, the depository financial institution of India (RBI), warned users against security and financial risks.
Other regulative bodies in Asia, however, treat Bitcoins differently. In hong kong, for instance, Bitcoins don't seem to be currently controlled by any government organizations or financial organization. In fact, Horizon Ventures, the Hong Kong-based working capital firm of Li Ka-shing, Asia’s richest man, recently created a vote of confidence in Bitcoin by finance in BitPay. The Singaporean government has conjointly set not to regulate Bitcoins.
In the U.S., many government agencies are competitory to manage Bitcoin, but it's currently being treated like cash, which creates a barrier to entry for Bitcoin-based startups. In the UK, the financial Services Authority doesn't contemplate Bitcoin to be ‘flat’ cash or eMoney, and also the European central bank’s read is that Bitcoin is not cash and doesn’t require regulation yet.
As TechCrunch’s microphone Butcher noted throughout the Bitcoin London conference in Gregorian calendar month, the cryptocurrency is being treated in wide different ways by totally different countries: as cash, as associate degree asset category, as the first highly secure P2P global information exchange, as a technology platform and as if it's a startup entity in its own right.
Financial regulations facilitate legitimize Bitcoin, but at an equivalent time, they conjointly subtract many of the items that were seen as blessings of the cryptocurrency, including peer-to-peer exchanges that were free from international sanctions, fees and taxes. Reed too Snapdragon 805-powered Sony Sirius to come at CES
Resouce : techcrunch.com
TechCrunch’s John Biggs reportable earlier on that U.S.-based company Robocoin plans to bring its Bitcoin ATMs to Taiwan and hong kong as a part of its global enlargement plans. Robocoin chief executive officer Jordan Kelley told us that “Bitcoin demand in Asia is amazing. we have many Asian countries seeking to enhance shopper capability to buy and sell Bitcoin firmly and safely.” We’ve emailed Robocoin for comment regarding how the FSC’s ban can have an effect on its plans in Asia.
Government attitudes toward Bitcoin dissent wide throughout Asia, but the FSC’s decision is yet one {more|one more} sign that the cryptocurrency’s increasing thought acceptance conjointly means it will return beneath scrutiny by more financial regulators.
The value of Bitcoins plunged in Dec once China’s biggest Bitcoin Exchange, BTCChina, stopped accepting deposits in Chinese yuan. the corporate same that the People’s Bank of China (PBoC) had spoken to many Chinese payment processors and asked them to cease mercantilism with Bitcoin exchanges by January 1. The PBoC had enacted a partial ban on Dec. 5, stating that that “Bitcoins are virtual goods that haven't any position or monetary equivalent and should not be used as currency.”
Shortly after, Bitcoin exchanges in India were pack up once its banking regulator, the depository financial institution of India (RBI), warned users against security and financial risks.
Other regulative bodies in Asia, however, treat Bitcoins differently. In hong kong, for instance, Bitcoins don't seem to be currently controlled by any government organizations or financial organization. In fact, Horizon Ventures, the Hong Kong-based working capital firm of Li Ka-shing, Asia’s richest man, recently created a vote of confidence in Bitcoin by finance in BitPay. The Singaporean government has conjointly set not to regulate Bitcoins.
In the U.S., many government agencies are competitory to manage Bitcoin, but it's currently being treated like cash, which creates a barrier to entry for Bitcoin-based startups. In the UK, the financial Services Authority doesn't contemplate Bitcoin to be ‘flat’ cash or eMoney, and also the European central bank’s read is that Bitcoin is not cash and doesn’t require regulation yet.
As TechCrunch’s microphone Butcher noted throughout the Bitcoin London conference in Gregorian calendar month, the cryptocurrency is being treated in wide different ways by totally different countries: as cash, as associate degree asset category, as the first highly secure P2P global information exchange, as a technology platform and as if it's a startup entity in its own right.
Financial regulations facilitate legitimize Bitcoin, but at an equivalent time, they conjointly subtract many of the items that were seen as blessings of the cryptocurrency, including peer-to-peer exchanges that were free from international sanctions, fees and taxes. Reed too Snapdragon 805-powered Sony Sirius to come at CES
Resouce : techcrunch.com