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Scotcoin - Welcoming Better Regulation

Welcoming Better Regulation

For the past 2 years, Scotcoin has performed KYC checks on all purchasers via the official exchange. We wholeheartedly welcome better regulation – and are leading the way!

 

Bitcoin and other digital currencies are a “Wild West industry” and need to be regulated to protect investors, a committee of MPs has urged. | BBC News

‘Wild West’ Bitcoin ‘should be regulated’ – FULL ARTICLE

 

 

Better Blockchain regulation needed – says former White House Regulator

Former White House financial regulator and Goldman Sachs partner, Gary Gensler, today called for better blockchain regulation.  He suggests that both Ether and Ripple may well have issues surrounding American securities regulations because of the way they have been traded.  Bitcoin remains unaffected but it opens up the debate on more regulation within the cryptocurrency world.

Mr Gensler joins the world famous M.I.T. lab as a lecturer and has no virtual currency investments himself, said he was not tied to any coin’s winning the race. But he does think changes are necessary before blockchains can go mainstream.

FULL ARTICLE:

US and UK regulation of Fintech

This is from an article on Cointelegraph by Joshua Althauser

The differences he highlights are extremely important, and will assist the UK and Scotland in particular with its charge into Fintech and Blockchain technology, as well as make crypto currencies more mainstream.

Based on the policies involving cryptocurrencies and Blockchain technologies, UK moves to liberalization of cryptocurrencies while the US looks into more regulations.

The World Bank estimates $429 bln of remittance market in 2016. This is mostly from migrants sending remittances to their home nations,  mostly done through traditional banks and other non-bank payment systems, and P2P systems.

To leverage this growing industry, the UK is finding ways to integrate Britain’s interbank payments and encourage further liberalization of P2P systems. Consequently, It is exploring ways to officially integrate cryptocurrency, testing Ripple’s Blockchain technology for cross-border payments. Read more