Legality of Bitcoin by Country

[Hodor]

https://en.wikipedia.org/wiki/Legality_of_bitcoin_by_country

So why am I posting about BTC legality?  Because the usage of XRP as a token for settlement would face similar regulations, I would think.  (I also realize that usage of XRP as a bridge currency might not face these regulations, depending on interpretation)

Japan and Argentina seem to be the only countries that recognize bitcoin and other tokens as money, but Argentina clarified that they are not to be considered "legal currency".  

A small number of countries like Ecuador and Russia has a ban in place on the use of bitcoin.  
The wikipedia page goes on to detail some interesting stories.  Here's a snippet:

Quote

 

The Federal Election Commission (FEC) deadlocked in November 2013 on whether to allow bitcoin in political campaigns with three Democrat members voting nay, three Republicans voting yea.[120] Political bitcoin pioneers New Hampshire House member Mark Warden[121] and Southern California politician Michael B. Glenn[122] independently from each other accepted bitcoin in their campaigns, and paved the way for others to follow suit. In May 2014, the FEC issued draft guidance to U.S. politicians who want to receive bitcoin donations.[123] It declined to declare bitcoins currency, stating they fit into its "anything of value" definition.[124]

In May 2014, Brett Stapper, co-founder of Falcon Global Capital, registered to lobby members of Congress and federal agencies on issues related to bitcoin.[125]

 

 

Edited August 15, 2016 by Hodor

[kanaas]

https://en.wikipedia.org/wiki/Legality_of_bitcoin_by_country

So why am I posting about BTC legality?  Because the usage of XRP as a token for settlement would face similar regulations, I would think.  (I also realize that usage of XRP as a bridge currency might not face these regulations, depending on interpretation)

Japan and Argentina seem to be the only countries that recognize bitcoin and other tokens as money, but Argentina clarified that they are not to be considered "legal currency".  

A small number of countries like Ecuador and Russia has a ban in place on the use of bitcoin.  
The wikipedia page goes on to detail some interesting stories.  Here's a snippet:

 

The Federal Election Commission (FEC) deadlocked in November 2013 on whether to allow bitcoin in political campaigns with three Democrat members voting nay, three Republicans voting yea.[120] Political bitcoin pioneers New Hampshire House member Mark Warden[121] and Southern California politician Michael B. Glenn[122] independently from each other accepted bitcoin in their campaigns, and paved the way for others to follow suit. In May 2014, the FEC issued draft guidance to U.S. politicians who want to receive bitcoin donations.[123] It declined to declare bitcoins currency, stating they fit into its "anything of value" definition.[124]

In May 2014, Brett Stapper, co-founder of Falcon Global Capital, registered to lobby members of Congress and federal agencies on issues related to bitcoin.[125]

 

 


Once the bigger banks give support, those govs will follow. Power of $$$

[Guest]

3 hours ago, kanaas said:

 Once the bigger banks give support, those govs will follow. Power of $$$

And when that happens, The Great Exodus (from fiat to crypto) could have biblical proportions...

[thinlyspread]

On 8/15/2016 at 3:05 PM, kanaas said:

The Federal Election Commission (FEC) deadlocked in November 2013 on whether to allow bitcoin in political campaigns with three Democrat members voting nay, three Republicans voting yea.

That's interesting. Makes sense to me that they'd be dead opposed like that. Bitcoiners tend to be more... libertarian, shall we say? And libertarians (at least the ones in the USA) tend to swing right more than left. Especially on monetary policy. Probably no direct link but I would imagine Republicans could get much better campaign financing from bitcoins than Democrats could, hypothetically! 

[KarmaCoverage]

Why not run the elections on a Distributed Ledger?

As long as the individual votes cannot be linked to an individual voter, we get transparent elections, and non of the shenanigans.

I get you guys were talking political donations, not political use cases. I remember RL doing a pitch give away a few years ago, and I someone pitched a voting use case, but I think @celticwarrior72 won, or maybe that was someone else.