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| March 23, 2018

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56 years later, Kennedy’s call for a consumer bill of rights is forgotten under Trump

March 15, 2018 |

On this day in 1962, President Kennedy laid out in a speech to Congress the framework for a consumer bill of rights and the crucial role the federal government must play in protecting those rights.

Kennedy’s call to arms is now marked every March 15 as World Consumer Rights Day, which seeks to…

L.A. Times – Business

Japan to Call for Crypto Rules at the G20 Summit

March 14, 2018 |

Japan to Call for Crypto Rules at the G20 Summit

Japanese representatives will push for the adoption of global rules on cryptocurrencies at the upcoming G20 meeting in Argentina. Next week, the summit will gather finance ministers and central bankers in Buenos Aires. Other countries also want to put crypto matters on the table, with signals coming from key members of the European Union.   

Also read: Excessive Crypto Regulation Not Optimal, EU Banking Authority Says

Stringent Regulations Won’t Be Good

Japan, a country with a proactive fintech policy, is going to urge its G20 counterparts to look into cryptocurrencies and agree on some common regulations. Japanese authorities were among the first to adopt a regulatory framework with a mechanism to oversee trading on registered cryptocurrency exchanges. Their new initiative aims at implementing international guidelines for the quickly developing crypto industry.

Japan to Call for Crypto Rules at the G20 SummitAccording to unnamed Japanese officials, quoted by Reuters, Tokyo will urge G20 members to invest more efforts in preventing the use of cryptocurrencies for illicit activities, like money laundering. Other media reports suggest that one of the sources is Japan’s Chief Cabinet Secretary Yoshihide Suga. He has shared his expectations of active Japanese involvement in the G20 discussions on cryptocurrencies and their impact on the global economy.

Differences in each country’s approach, however, are likely to limit the chances of reaching agreement on specific global rules in a joint communique, the official said. Another source confirmed that discussions will focus on anti-money laundering measures and consumer protection, and not so much on how cryptocurrencies could affect the banking system.

The general feeling among G20 members is that applying too stringent regulations won’t be good.

Finance ministers and central bank governors from the Group of 20 will meet in the Argentinean capital on March 19-20. Other nations also plan to put forward ideas for cryptocurrency regulation. In February, high-ranking French and German officials issued a letter urging their colleagues in G20 to discuss the implications of cryptocurrencies, like bitcoin. They stressed on the need for a transnational regulatory approach and announced intentions to jointly propose regulations.

The Trick: Regulate, but Don’t Stifle

The G20 countries intend to discuss issues related to cybersecurity, the fintech sector and cryptocurrencies, Russian Deputy Minister of Finance Sergey Storchak confirmed in the beginning of March. Digitalization has been included in the agenda on ministerial level for the first time. It has been discussed previously only by experts in the Financial Stability Council, Storchak said. In his words, very few of the G20 members regard cryptocurrencies the same way they view fiat money. The Russian official predicted that the summit would most likely confirm that position.

Japan to Call for Crypto Rules at the G20 Summit

What Japan is actually worried about is that some nations have looser regulations, when it comes to cryptocurrencies and their possible use for illicit purposes. Last month, Japanese authorities carried out checks on several exchanges after the theft of over $ 500 million from Coincheck. They revealed almost 700 cases of possible money laundering. In Argentina, the international Financial Action Task Force (FATF) is expected to present a report exploring ways to prevent the use of cryptocurrencies to launder illicit funds.

According to one of the Japanese officials quoted by Reuters, “the trick will be to apply regulations to protect consumers and prevent illicit activity, without stifling innovation in the fast-growing cryptocurrency and fintech sectors”. The G20 countries account for more than 80% of the world’s gross product and trade. Next week’s meeting will demonstrate if they are ready for a measured approach towards cryptocurrency regulation.

Do you expect common rules for cryptocurrencies from the G20 summit? Share your thoughts in the comments section below.

Images courtesy of Shutterstock.

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The post Japan to Call for Crypto Rules at the G20 Summit appeared first on Bitcoin News.

Bitcoin News

National School Walkout: Students to protest gun violence, call for action one month after Parkland shooting

March 14, 2018 |

Thousands of students are set to walk out of classrooms nationwide Wednesday to protest gun violence and call for new gun control measures on the one month anniversary of the Parkland school shooting that left 17 dead and sparked a grassroots wave of activism.
FOX News

Pennsylvania special House election too close to call; 3,900 absentee ballots to be counted

March 14, 2018 |

Democrat Conor Lamb narrowly led Republican Rick Saccone with most precincts reporting in a special U.S. House election in Pennsylvania Tuesday night, but the race was still officially too close to call.
FOX News

Michael B. Jordan Answers Frances McDormand’s Call

March 8, 2018 |

Michael B. Jordan, obviously in need of some good press after indirectly breaking that poor woman’s retainer , has announced his production company will require inclusion riders for all of its projects, Mashable reports. According to the New York Times , the Black Panther star is the first major actor to publicly…

After 911 Call, Officers Were Sent to Wrong House—Fatally

March 8, 2018 |

“It is a coincidence,” says Missouri Highway Patrol Sgt. Bill Lowe, and a deadly one. After a 911 call Tuesday in which women were heard screaming , police were dispatched to a home in Clinton, Mo., where all were shot, one fatally—and it was the wrong home. Lowe says the…

Some Dads Call Their Kids. This One Sent 20K Postcards

February 18, 2018 |

If any dad should get an extra-special Father’s Day gift this year, it should be David Lasseter. Or at the very least, a postcard. That’s what the Georgia patriarch has been sending to his four kids for more than 20 years, ever since he first dropped his oldest daughter off…

On Dec. 13, Stacy London Got a Wake-up Call

February 12, 2018 |

As the former co-host of What Not to Wear, Stacy London dished out straight-up, honest fashion advice. So while you might expect her to be candid in all things, London’s recent essay for Refinery 29 is somehow still surprisingly frank. The celeb holds little back: First her body broke, then…

2 Officers Killed While Investigating 911 Call in Ohio

February 10, 2018 |

Two Ohio police officers were killed in a shooting Saturday afternoon in a Columbus suburb, CBS News reports. According to the Cincinnati Enquirer , someone called 911 from an address in Westerville around noon then hung up. Police chief Joe Morbitzer says officers Anthony Morelli and Eric Joering were “immediately met…


Deondre Francois 911 Call, ‘She’s Tearin’ Up Everything’

January 25, 2018 |

FSU QB Deondre Francois was worried his ex-GF was going to wreck all his stuff — including 2 flat screen TV’s — according to the 911 call obtained by TMZ Sports. Cops responded to a incident at Francois’ apartment earlier this week. Francois…