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Russia's Central Bank Meets With Finance Reps for Bitcoin Talks

Published on June 12, 2015 at 12:55 BST
Russia's central bank will meet with representatives from the country's financial markets to discuss bitcoin regulation next week, a local news source claims.

Izvestia, a prominent Moscow-based news outlet, says it is likely that the bank will be supportive of cryptocurrencies.
A loosely translated version of the article, which cited a source close to the central bank, reads:

"The central bank's stance [on cryptocurrencies] has changed over the last year. The source admitted that the central Bank may authorise and regulate bitcoin – in particular, carrying out transfers and payments to individuals and interconnect them."

In conversation with CoinDesk, a spokesperson from the Cryptocurrency Foundation Russia (CCFR) expressed disappointment at the news. The group had previously approached various authorities to discuss regulation, they said, however these attempts proved unfruitful.
Questioning the bank's sudden interest in digital currencies, the spokesperson voiced a desire to see an open dialogue with those knowledgeable about financial freedom and civil rights, but again, seemed doubtful this would happen. "It is unlikely that these people will be heard by officials and their recommendations will be implemented," they said.
"The true supporters of decentralisation will have to forget about their dreams. Russia's regulation will not comply with the ideals of Satoshi Nakamoto."
CoinDesk contacted Russia's central bank for comment but no reply had been received at the time of press. Bitcoin in Russia.
The meeting follows on from statements by The Ministry of the Interior of the Russian Federation (MVD) concerning bitcoin regulation in February.
The domestic agency, responsible for establishing government policy and regulation, suggested it would defer the decision to the central bank prior to taking any policy action.

Earlier this year, Russia's media watchdog cut off access to a series of bitcoin-related websites, including Bitcoin.org, Bitcoin.it, BTCsec.com and bitcoin exchange Indacoin. Three .ru domains were also blacklisted.
Reference News: Coindesk.com

New Jersey Legislators Propose Tax Breaks for Bitcoin Businesses

Published on May 27, 2015 at 16:44 BST

Two New Jersey legislators have introduced a Digital Currency Jobs Creation Act that calls for tax breaks for bitcoin businesses.
The bill is being sponsored by State Assemblyman Raj Mukherji and State Assemblyman Gordon M Johnson. According to a report by the New Jersey Star-Ledger, the 30-page proposal would, if passed, establish a regulatory framework and set in place tax breaks for New Jersey companies that work with digital currencies.
"I want to encourage innovation here in New Jersey. I think there's an opportunity for job creation," Mukherji told the publication in an interview.
The draft text of the bill is currently unavailable for public viewing on the state legislature's website. However, the landing page for the Digital Currency Jobs Creation Act, or A4478, can be found alongside the bill's two primary sponsors.
The proposed bill comes months after the New Jersey Legislature's Assembly Financial Institutions and Insurance Committee held a hearing on how the state should approach regulating digital currencies.
Reference News: Coindesk.com

BTC-e Blames New US Policy for Wire Transfer Issues

Published on May 28, 2015 at 21:11 BST

BTC-e has announced that US dollar withdrawals and deposits sent via bank transfer could be delayed for as long as two weeks.
In a 28th May message posted by the BTC-e support team, the European digital currency exchange blamed “a new American policy” for the anticipated delays.
The message reads:
“Attention everyone who sends us US dollars and trying to withdrawal in US dollars through bank transfer. From tightened for a new American policy correspondence banks in relation to payment institutions deposits and withdrawals of US dollars delayed for 1-2 weeks.”
BTC-e did not immediately respond to a request for comment.
Reference News: Coindesk.com