On Thursday, April 23, I spoke at the Bretton Woods Committee seminar, “Digital Payments and Currencies: Global Threat or Opportunity?”  The panel discussed the changes digital currencies and payment systems have brought to the market and the disruptive potential of a future in which they may become more conventional.

An audio clip of the seminar

It’s only been about a week since New York’s outgoing Superintendent of Financial Services Ben Lawsky released the long-awaited “BitLicense” rules for digital currency businesses operating in New York, but it’s not too early to try to assess the potential impact of those rules on the development of Bitcoin-related businesses and emerging financial technologies.

The primary question on everyone’s mind: Are the BitLicense regulations – the product of a nearly two-year rulemaking process – good or bad for Bitcoin? The answer: A little of both. The truth is that the BitLicense rules are a mixed bag, and how you perceive them depends to some extent on whether your glass is half-full or half-empty.Continue Reading Are New York’s BitLicense Rules Good or Bad for Bitcoin?

Last week the IRS announced that Bitcoin would be treated as property, rather than currency, for tax purposes.  That means the virtual currency will be subject to very real capital gains taxes when used to make purchases.  So is this good or bad for Bitcoin?  Well, that depends on whether you view the glass on Bitcoin as half-empty or half-full.
Continue Reading Is the New IRS Rule Good or Bad for Bitcoin?