Roger Ver Pushes For New Economies To Use Virtual Currencies As The Main Means Of Payment
Roger Ver, one of the most popular and controversial figures in the cryptocurrency space. Has been talking about virtual currencies and adoption around the world. He has also spoken about the Bitcoin Cash (BCH) hard fork and how it affected the market.
During the second part of November, the cryptocurrency market experienced a very hard drop that saw Bitcoin moving from $6,300 down to $3,600. According to Ver, this situation occurred due to the hard fork in the Bitcoin Cash network.
The Bitcoin Cash network experienced an upgrade on November 15 in which there were two different proposals. Roger Ver and Jihan Wu were supporting Bitcoin ABC while Craig Wright and Calvin Ayre supported the newly created Bitcoin SV. For some days, both networks were involved in a hash war that seemed to have affected Bitcoin’s network as well and the value of the whole virtual currency market.
Roger Ver mentioned that people have to stop speculating in the market and start building a new economy where these digital assets could be used as real currencies. He mentioned, as usual, that this was the goal of the white paper written by Satoshi Nakamoto.
Although he does not support taxes, he has also mentioned that Bitcoin should be adopted as a payment method for taxes.
On the matter, he commented:
“That’s the goal with the Bitcoin Cash both the ABC camp and SV camp and I wish every cryptocurrency good luck if they’re trying to bring more economic freedoms the world by making them useful as currencies for the world. So I wish everybody good luck.”
Roger Ver explained that hard forks are a good way to proceed if there were conflicting ideas in the space. Bitcoin Cash is a hard for of the Bitcoin network that entered the market back in August 2017. Since that moment, Roger Ver and Craig Wright were working together defending and differentiating Bitcoin Cash from Bitcoin. Nevertheless, the relationship between both got broken when the new network update divided the community.
He went on saying that it is necessary to use all the available tools to make it easy for people to use virtual currencies as money. He said that Ohio, for example, started accepting Bitcoin Cash and Bitcoin through Bitpay for tax payments. At the same time, he mentioned that there are some restaurants in Japan that accept Bitcoin and Bitcoin Cash.
A few days ago, Binance announced that the Binance Coin (BNB) could be used to pay for more than 450,000 hotels around the world through a travel company known as Tripio.
10,000 Retail Shops in France Will Sell Bitcoin, XRP, Ethereum, Litecoin and Dash, Powered by Payments Giant Ingenico: Report
Bitcoin, XRP, Ethereum, Litecoin and Dash are reportedly expanding to 10,000 points of sale throughout France.
Digycode first rolled out its crypto coupons last year. The startup says it’s now expanding to over 10,000 shops through a collaboration with Paris-based payments giant Ingenico, according to local news outlet Cryptonaute. The leading payments firm reported $2.8 billion in revenue in 2017.
“‘The deployment of Digycode is the result of a partnership between Digital Service and Ingenico, and tobacconists equipped with a Devlyx cash registerare, therefore eligible to sell our product for their customers, commented Christopher Villegas, CEO of Digital Service.”
The crypto startup will offer prepaid recharge coupons that can be purchased in three available increments – 20, 50, or 200 euro – by visiting any of the supported locations. Once a customer redeems the coupon on Digycode’s website by using a secret code, the euro is converted into crypto.The company says crypto balances will appear in the user’s crypto wallet as soon as the transaction is confirmed.
Tobacco shops are selling crypto despite regulatory uncertainty.
France’s tobacco federation was granted permission to sell crypto from the French Prudential Supervision and Resolution Authority, according to a report from the French radio network Europe 1.
But France’s central bank is singing a different tune, saying it has not approved retail sales of cryptocurrency. In addition, the Financial Markets Authority, which regulates the country’s stock market, has issued a statement saying no company is licensed to sell crypto in stores.
Crypto-Friendly Wyoming Becomes First US State to Give Bitcoin, XRP, Ethereum, Litecoin, EOS and Altcoin Owners Complete Property Rights
The Wyomng Senate passed SF125 on Thursday. The “Digital Assets” bill will now become law, granting cryptocurrency holders property rights for direct ownership of digital assets. Wyoming is the first state in the US to pass a clear regulatory framework for Bitcoin, XRP, Ethereum, Litecoin, EOS and other altcoins, setting the stage for cryptocurrency investors, entrepreneurs and crypto-related businesses to flourish in the state.
The bill allows people to hold cryptocurrency without the need for an intermediary to own digital assets, and clears the way for banks to offer custodial services for cryptocurrencies.
According to the act, digital assets are considered intangible personal property.
“AN ACT relating to property; classifying digital assets within existing laws; specifying that digital assets are property within the Uniform Commercial Code; authorizing security interests in digital assets; establishing an opt-in framework for banks to provide custodial services for digital asset property as directed custodians; specifying standards and procedures for custodial services under this act; clarifying the jurisdiction of Wyoming courts relating to digital assets; specifying applicability; authorizing the promulgation of rules; and providing for an effective date.”
The bill is expected to come into effect on July 1. It also supports the advancement of tokenized securities.
Caitlin Long, co-founder of the Wyoming Blockchain Coalition, expects the new legislation to attract blockchain companies and talent, making Wyoming a frontrunner in the space with a clear regulatory framework designed to foster innovation and spur adoption of Bitcoin, altcoins, blockchain-based businesses, trading platforms and crypto custodial services.
Bitcoin [BTC] owners receive property rights in the U.S state of Wyoming
The cowboy state of Wyoming in the United States of America has given a boost to the state and indeed the country’s cryptocurrency industry by permitting Bitcoin [BTC] holders to have property rights.
Wyoming saw their state Senate pass the second and third readings of Bill SF0125 – Digital assets-existing law, which would classify virtual currencies under ‘property’, allowing users to hold cryptocurrencies without fear of any government sanctioned regulation and availing third-party storage services for the same.
“AN ACT relating to property; classifying digital assets within existing laws; specifying that digital assets are property within the Uniform Commercial Code; authorizing security interests in digital assets; establishing an opt-in framework for banks to provide custodial services for digital asset property as directed custodians; specifying standards and procedures for custodial services under this act; clarifying the jurisdiction of Wyoming courts relating to digital assets; specifying applicability; authorizing the promulgation of rules; and providing for an effective date”
According to the United States’ legal procedure, individual states have jurisdiction over the property rights within their boundaries and hence, the legislation will differ from state-to-state.
Companies, therefore, now have a free reign over the state they decide to set-up shop in, depending on the favorable regulations available. Since Wyoming looks to be a better option than most states in the US, blockchain and cryptocurrency companies may resettle there.
Caitlin Lon, a member of the Wyoming Blockchain Coalition was delighted with the news and stated:“1/ BOOM! #Wyoming just recognized clear, direct property rights for #digital assets by passing SF125! This means #blockchain cos will prob want to apply WY law to your contracts, domicile here, &/or have a physical presence here. Thx again to the army of ppl who helped over months.”
Furthermore, the new legislation will also protect the property rights for large scale institutional investors. With 2019 heralded as the year of institutional investors looking at the developments with Nasdaq, the NYSE, the Bitcoin ET and BTC Futures, this announcement from Wyoming is indeed crucial to the overarching industry.
This legislation will also peg Wyoming ahead of the state of New York on the list of the cryptocurrency-friendly states, with Long stating the same:“Wyoming protects PROPERTY RIGHTS &, for institutional investors who must own indirectly, it protects ##investors far better than ##NewYork does.”
She added:“Have fun watching the transfer of capital away from NY & into WY in the coming years, esp as securities are increasingly issued on #blockchains!!!”