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| June 20, 2018

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Bills headed for state Senate would put limits on payday, auto-title lending

June 20, 2018 |

State legislators killed a bill that would have reshaped much of California’s consumer lending market, but two more-modest bills made it through the state Assembly and now move on to the Senate.

One would stop borrowers from taking out more than one payday loan at a time; another would cap interest…


L.A. Times – Business

Judge Says Kansas Secretary of State Has to Take Classes

June 20, 2018 |

A federal judge ruled Monday that Kansas cannot require documentary proof of US citizenship to register to vote, finding such laws violate the constitutional right to vote in a ruling with national implications. The ruling by US District Judge Julie Robinson is the latest setback for Kansas Secretary of State…
Newser

‘Horror Plant’ Discovered in Another US State

June 18, 2018 |

What ScienceAlert calls a “giant horror plant” has made its way to yet another US state, and people who come in contact with it could feel the pain. Virginia Tech’s Massey Herbarium tweeted last week it had IDed a giant hogweed (aka Heracleum mantegazzianum ) plant in Clarke County, later…
Newser

1 State or 3? Californians Will Decide

June 13, 2018 |

Every effort to split the state of California , and there have been several, has ultimately failed. But a new one led by Silicon Valley venture capitalist Tim Draper has already gotten farther than most. Draper’s plan to split California into three separate states of roughly equal population—Northern California, from…
Newser

Dynasty? Golden State Just Made a Powerful Case

June 9, 2018 |

Stephen Curry scored 37 points, Kevin Durant added 20 and a triple-double, and the Golden State Warriors stamped themselves a dynasty after winning their second straight NBA title and third in four years Friday night. The Warriors beat the Cleveland Cavalier 108-85 to complete a sweep and perhaps drive LeBron…
Newser

Putin: Cryptocurrency Has Its Place, No State Can Have Own Crypto

June 8, 2018 |

Putin: Cryptocurrency Has Its Place, No State Can Have Own Crypto

Cryptocurrency has its place in the world and Russia should carefully consider when and how to take part in the process of its development, Vladimir Putin said in his annual Q&A session with Russian citizens. The president noted that “by definition” neither Russia, nor any other country could have a national cryptocurrency. Putin also mentioned the saga around Telegram, in the light of seeking “civilized” decisions.

Cows and Cryptocurrencies

Putin: Cryptocurrency Has Its Place, No State Can Have Own CryptoFrom potholes to spaceports, the Direct Line with Vladimir Putin usually covers it all. It is hard to imagine there is absolutely no preparation or plot behind the scenes, but one has to admit – four hours of questions can be a grueling challenge for anyone’s concentration and intellectual power.

Putin sounds adequate on just about any topic, and almost all the time. Well, this year he was unprepared to answer at least one question: “Why is cow meat called ‘beef’?” To his credit, the deputy prime minister for agriculture, Alexey Gordeyev, didn’t know the answer either…

This year’s program aired in a redesigned format, touched a bit here and there. And, as with any “rationalization” in a former Soviet, Slavic country, the change was met with a proper dose of criticism.

As a new feature of the 2018 “Direct Line” – bloggers and vloggers were allowed to ask questions on behalf of their followers. This is how cryptocurrency came into the spotlight, and this time the president was abreast of developments.

No National Crypto, ‘by Definition’

Vlogger Artiom Khokholikov tested Putin with a couple of questions that “all youngsters are interested in” – will Russia have its own cryptocurrency, and if, will it be controlled by the state? Also – does the president think that in the near future cryptocurrency will replace completely the standard fiat money?

Starting with the cryptoruble topic, Putin remarked the question was somewhat incorrect. Neither Russia, nor any other country can have their own crypto, “by definition,” he educated the nation. “If we talk about cryptocurrency – this is something that goes beyond national borders,” explained the president.

Ticking another box, Putin mentioned the “so called mining,” which, as he pointed out, is not regulated in Russia. The situation, however, will change soon with the adoption of the new legislation currently under review in the Duma. Then he emphasized authorities in Moscow have a very “accurate” attitude towards the whole crypto subject.

Russia Should Consider its Participation

Of course, the omnipresent talking points of central power were to be expected from the strongman of a strong state. “In the overwhelming majority of countries cryptocurrency is not a means of account. It is partially used in Japan, but in other countries it doesn’t work,” Vladimir Putin said.

Putin: Cryptocurrency Has Its Place, No State Can Have Own CryptoThe president went on to remind of the official position of Russia’s Central Bank that cryptocurrencies cannot be a means of payment or saving, and that digital money is not backed by anything. That means, he stressed, that “We have to treat this very accurately and carefully.”

“Nevertheless”, Putin changed the tone, “such phenomenon has its place in the world, it is developing! We have to carefully analyze, watch what’s going on, and see at what stage and how we can participate in this process and use it, including by the way, to avoid any restrictions in the sphere of international financial activity.”

Putin Suggests ‘Civilized’ Approach to Telegram

The Russian head of state touched another topic that concerns the crypto community – the fate of the messaging service Telegram. Prohibition is the easiest way to go, he noted, but also suggested that it’s necessary to seek civilized ways to solve the problem.

Russian authorities have been trying to block the messenger since April 16, following a decision by the Tagansky District Court of Moscow from April 13. So far, their attempts have been unsuccessful and Telegram has managed to circumvent the imposed restrictions.

Putin: Cryptocurrency Has Its Place, No State Can Have Own Crypto

Russian special services claim the app has been used by terrorists and have requested its encryption keys. However, the company founded by Russian entrepreneur Pavel Durov has refused to hand them over.

According to Russian media, many members of the local Telegram community have interpreted Putin’s comments as a signal to the country’s telecom regulator, Roskomnadzor, and the Federal Security Service, FSB, to ease the pressure on the messenger.

Do you think Russia will eventually legalize and adopt cryptocurrencies? Tell us in the comments section below.


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The post Putin: Cryptocurrency Has Its Place, No State Can Have Own Crypto appeared first on Bitcoin News.

Bitcoin News

How Suspect’s Car Door Handle Hurt Him in Golden State Killer Case

June 2, 2018 |

After four decades of hunting for the Golden State Killer, a pivotal piece of evidence that may have sealed the case was DNA evidence secretly lifted from the suspect’s car door at a Hobby Lobby parking lot in Roseville, Calif., reports the Los Angeles Times . Newly released court documents paint…
Newser

A Calm Chinese Stock Market? It’s Engineered by the State

June 2, 2018 |

Regulators warn traders if they place sell orders that are too big, especially at politically sensitive times. This hidden hand is about to affect a larger number of overseas investors when Chinese stocks are added to a global index on June 1.
WSJ.com: What’s News Asia

Only 1 More State Needs to Ratify Equal Rights Amendment

June 1, 2018 |

Illinois has ratified the Equal Rights Amendment a mere 36 years after the deadline for ratification, 46 years after it passed Congress, and 97 years after it was introduced. The amendment, which calls for men and women to have equal rights under state and federal law, was approved by 35…
Newser

State bill would put car dealers in driver’s seat for newfangled subscription services

June 1, 2018 |

The rise of Uber and Lyft has made clear that a growing number of people are perfectly content not to own a car. Automakers, in turn, have responded by introducing their own ride-sharing services in hopes of meeting changing consumer tastes.

Now another trend is emerging: so-called subscription…


L.A. Times – Business