PHOENIX – further people are Utilizing digital currency, and some Arizona lawmakers are trying to make it easier to use.
Two bills have passed out of the finance committee, 1 which would allow the Utilize of Bitcoin and other cryptocurrencies to be used to pay state taxes, the other protects it from capital gains like other currencies.
Sen. Petersen said it would too keep the state money with creating a further efficient way to receive payments.
He said with the changing price of cryptocurrencies the state would Must set up a system for instant exchange, very payments are accurate.
Petersen said these bills going to help keep Arizona at the forefront of this new technology.
Japan’s digital currency push
But a growing number are showing an interest in bitcoin and other digital currencies.
Telecom operator net Initiative Japan set up a new firm earlier this month.
18 main firms going to invest in the firm to set up a virtual currency exchange.
The new venture plans to begain operating the exchange in October.
Users going to be enable to of trade digital currencies with the Japanese yen.
BoG unfazed with digital currency inroads in Ghana
as declared in The Bank of Ghana is confident it ought be enable to of regulate activities on the Utilize of digital currencies in Ghana, with the passage of the new laws on electronic financial payments in Ghana.
The renewed optimism follows the launch of Finchcoin, the premier Ghanaian manufactured digital currency.
Already, the central bank has cautioned the public against transacting business in digital currencies as the act isn’t permitted under law.
However in an interview with Citi Business News, the Director of Communications at the Bank of Ghana, Bernard Otabil assured the bill is currently in in parliament hence its passage ought sanitize the financial industry.
Mr. Otabil insisted which the BoG is doing all it has to ensure which digital currencies are properly regulated.
Lawmakers worry digital currency helping human traffickers avoid detection
Lawmakers at a Tuesday hearing discussed ways to crack drop on human traffickers who are Utilizing new financial tools to avoid detection.
The House Financial Services Subcommittee on Oversight and Investigations heard from witnesses on the increasing Utilize of cryptocurrencies and encrypted communications, including on smartphones, which make it harder for authorities to catch traffickers.
“Implementing these new measures can move reporting rates on human trafficking cases from a 15 percent success average [with standard reporting] … to an 85 percent success average in case detection,” Shelley said.
Prepaid gift cards have too become a popular form of payment for human traffickers, Bassem Banafa, a financial forensics consultant, told the panel.
Banafa says companies which process cryptocurrency payments can be important gatekeepers in targeting human traffickers.
collected by :John Locas