July 9, 2014 - In This Issue:
Governor Jerry Brown
Polish Finance Ministry: Bitcoin Can Be Used As Financial Instrument

Poland's deputy finance minister Wojciech Kowalczyk has released a document confirming that under the country's existing financial regulations, bitcoin can be considered a financial instrument.

The statement follows a previous inquiry from Michal Pacholski, an opposition member of Parliament for the liberal Twoj Ruch (Your Movement) party. At the time, Pacholski asked Poland's Ministry of Finance to explain the legal status of bitcoin transactions. Specifically, his query focused on whether or not "options and futures contracts can be considered as a financial instrument" if they are denominated in a digital currency. Read more..

"I do think Bitcoin is the first [encrypted money] that has the potential to do something..Like change the world."
 
Peter Thiel, Co-Founder of Paypal
 
EBA: Financial Institutions Should Avoid Bitcoins, Await Regulation

The European Banking Authority (EBA) has published an 'opinion' warning financial institutions to stay away from digital currencies until the industry is regulated.

In the document, which was addressed to the EU council, European Commission and European Parliament, the EBA set out new requirements for the regulation of digital currencies and also instructed financial institutions not to buy, hold or sell digital currencies until new rules are in place. Read more..

 

bitcoin and cash  


Governor Brown Signs Bill Legalizing Bitcoin Use
Governor Jerry Brown has signed bills that recognize the legal use of Bitcoins and other digital currencies in California, repeal a requirement for food handlers to use gloves, and keep minor truants out of lockup facilities, his aides announced Saturday. 
In all, the governor signed 15 pieces of legislation into law, including one that reflects the changing way that technology has Californians doing business. Read more..

Irish Central Banker Envisions Hybrid Bitcoin-Fiat Future

Speaking at the Bitcoin Finance 2014 Conference and Expo in Dublin today, Gareth Murphy, director of markets for the Central Bank of Ireland, made history becoming the first government-backed bank representative to speak at a digital currency conference.

Despite his presence amongst many of the technology's most avid supporters, Murphy used his address to both foretell of the innovation bitcoin could bring to global finance, while warning that the bitcoin community, too, needs to be cognizant of the added pressures their advancement may bring to global economies. Read more..

Bank Of Russia: Bitcoin Should Not Be Rejected

Months after the Bank of Russia first broke its silence on bitcoin and digital currencies with stern warnings regarding their potential treatment under the law, regulators have released new statements that suggest the country is further softening its tone on the subject.

The Wall Street Journal has reported that the country's central bank is now in the process of gathering information about bitcoin and digital currencies. Read more..

 


Philippines Start-ups Aim To Fulfill Bitcoin's Remittance Promise

One of bitcoin's promised 'killer apps,' and one regularly cited as a use case whose time has come, is overseas remittances - providing cheaper and improved services for foreign workers sending money back to their home country. Now, several start-up platforms in the Philippines are setting up the foundations of the infrastructure needed to allow people to send and receive bitcoin easily. Read more..

 

 

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