You can head back to our homepage, or check out some great posts.Published: June 19, 2017 Updated: June 19, 2017 16:02 EST New bill wants travellers to declare bitcoin before entering US Bill to be titled “Combating Money Laundering, Terrorist Financing, and Counterfeiting Act of 2017.” Bitcoin (a form of Cryptocurrency) is set up for another shake up with lawmakers in the United States pushing for a new Congressional bill that will enable governments to monitor travellers’ money focusing largely on digital currency Bitcoin.In an effort for better US border protection and to prevent visitors from bringing in undeclared assets into the country, the aptly named bill, (known as the ‘Combating Money Laundering, Terrorist Financing, and Counterfeiting Act of 2017’ or S.1241 for short) was introduced by Senators Chuck Grassley and backed by a bi-partisan group of senators including John Cornyn, Diane Feinstein and Sheldon Whitehouse.If S.1241 gets approval, it will direct the Commissioner of the U.S.

Customs and Border Protection and the Secretary of Homeland Security to work on developing strategic plan which will identify and work on banning Bitcoin (and other Cryptocurrency) from illegally entering the country.Bitcoin is perfectly legal; however, the digital currency can cause controversy as it is a way for virtual transactions to take place without the need for use of your real name, transaction fees or middle men, with a lot of businesses now starting to accept Bitcoin as a method of payment.The value of Bitcoin can also often dramatically fluctuate in the market place with Bitcoin’s value nearly doubling in the last year alone.The ability to transact anonymously is an appealing prospect for many.For example, the person who invented Bitcoin in 2009, used the alias Satoshi Nakamoto with Nakamoto’s real identity still unknown to this day.This can cause issues with government due to the lack of regulation with the currency, this means that cryptocurrency is wide open to exchanges becoming at risk of price manipulation, fraud and crime despite there being a digital public purchase ledger known as Blockchain.

Again, the problem with Blockchain is its lack of regulation and anonymous transactions.Bitcoin currently trades $350million per day which is small fry in comparison to the FX market which trades at $5 trillion dollars per day.However, the inability to monitor who owns what, is a reason why governments are loath to digital currency, particularly Bitcoin.What will this mean for Bitcoin users if Bill S.1241 get passed?The Digital Currency community will have a sharp eye on the outcome if the bill is successfully passed, as it will most likely lead to the Foreign Account Tax Compliance Act receiving an overhaul and regulate foreign digital currency.It could also lead to regulators working on a system to regulate Bitcoin Exchanges in order to monitor the process of Bitcoin purchases and transactions such as the aforementioned Blockchain.However, current law states that only currency over the $10,000 threshold would have to be declared.This would mean that anyone attempting to enter the US without declaring their Bitcoin currency over that combined value would have their asset blocked from entering the Country.

With Bitcoin’s current market price at over $2000 per coin, it remains to be seen how this would influence the market price should the Bill pass.How One Art Festival Encourages And Celebrates Global DiversitySnapchat Unveils A New Way For You To Stalk Your Friends--And Other Stories You Might've MissedThis Company Delivers Wine In Bottles, Cans--And Soon, Kegs?Grindr For Equality Is Turning The Gay Hookup App Into A Trusted Source Of Health And Wellness InfoTravis Kalanick Is Out--Where Does Uber Go From Here?General Stanley McChrystal’s Remedy For A Divided NationWhy Webcams And The Internet Are Tools For ArtHow The VP of Global Marketing At Facebook Got Her Start Serving Sandwiches At A TheaterHappy 30th Birthday To The GIF!Seattle's Space Needle Is Getting A Major Facelift--And Other Stories You Might've MissedHow Previously Working For An Oil Company Helped Shape This Jigsaw Employee’s ValuesEver Wanted To Eat Your Beer?bitcoin wallet android safe

Well Now You CanFrom Film FX To The U.S.Department of Defense: Inside Zoic’s Revolutionary LabUPDATED: March 18, 2014, at 6:09 p.m.Clover Food Lab, a vegetarian and vegan restaurant chain located on Holyoke St., installed the first Bitcoin ATM in Harvard Square Monday morning.The ATM is the second that Liberty Teller, the same company that introduced an ATM to South Station last month, has constructed.“Our ultimate goal is to make Bitcoin accessible to people everywhere, and South Station was a huge start,” co-founder of Liberty Teller Chris Yim said.litecoin volume“But we had a lot of demand...for something in Cambridge.” Yim, who last month before installing it in Clover, said that Ayr Muir, CEO and founder of Clover Food Labs and fellow MIT graduate, was excited about the prospect of a Bitcoin ATM at his restaurant."[Yim]litecoin hardware list wiki

asked if we would help him out with a little experiment to see if a high-traffic, fast-food restaurant like ours would be a good site for one of the first Bitcoin ATMs in the country," Muir said in a statement to Boston Business Journal."We're giving it a go and we're excited to see what happens."Theethereum buy visaBitcoin ATM, which is smaller than a standard ATM and rests on a stand, allows customers to scan their Bitcoin wallet address—essentially their Bitcoin bank account—and convert their cash to Bitcoin.bitcoin wallet in linuxThe ATM does not currently, however, allow customers to convert Bitcoin (BTC) to U.S.ethereum price feeddollars.The introduction of the ATM comes after several meetups of Harvard’s Bitcoin Club, an informal group started by an alleged Harvard Business School alumnus who calls himself "John Harvard Bitcoin."

The group convenes periodically to discuss virtual currency, and "John Harvard Bitcoin" offers attendees free Bitcoins and .Neither members of the club nor The Crimson have been able to confirm the self-described alumnus's identity.At the last meeting, attendants said they received around .03 BTC from "John Harvard Bitcoin," a figure that represents approximately $20 according to the $623 price of a single Bitcoin at press time.According to "John Harvard Bitcoin," the club will be holding a Bitcoin panel at HBS that will feature Yim on Mar.24.Yim said that although he is still working out how he will balance his company’s time between South Station and Harvard Square, he is excited to attend the panel and help provide for the demand he sees for Bitcoin in the Square.“Whenever we are not at the machine or working on the locations...we will definitely try to go out to the [Harvard Bitcoin Club] meetups.It’s great to see all the interest,” he said.Follow him on twitter .Read more in Metro News Former Boston Mayor Thomas Menino Diagnosed With Cancer