Bitcoin News Mash-Up: Political Donations; Japan Defends Bitcoins; and More

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Bitcoin News Mash-Up

Following are the major Bitcoin events that took place between July 10th and 11th

Swedish Parliamentary Candidate Accepts Only Bitcoin Donations
Mathias Sundin, one of the candidates for the upcoming Swedish parliamentary elections, has decided to accept donations only in Bitcoins. The candidate made a few pro-Bitcoin promises as well in case he comes to power. These promises include: Resist knee-jerk regulation of Bitcoin, other digital currencies, and disruptive innovation in general; Continue the education reforms in Sweden; Help develop a tax system that promotes fast growing, innovative companies; and Defend peoples’ right to privacy.

Japanese Government Offers Support to Bitcoin Companies
Japan Authority of Digital Asset (or JADA) is the new organization, launched by the country’s ruling government which has openly come out in offering support to Bitcoin companies in Japan. The organization will introduce ethical standards and codes of conducts for a proper function of Bitcoin businesses.

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The group is devised by a parliamentarian named Mineyuki Fukuda after consulting a number of emerging and leading Bitcoin companies in Japan – renowned cryptocurrency exchange Kraken one among them. The Japanese government has also made its stand clear on not regulating Bitcoin. It has showed further interest towards helping this technology to flourish and self-regulate.

Argentina Government Wants Records of Bitcoin Activities
The Financial Intelligence Unit of Argentina ordered the local financial institutions to report the transactions conducted using Bitcoin and other virtual currencies. They also explained their concerns over the risks involved with cryptocurrencies, citing money laundering as their key reason. The mandate reads:

“Virtual currencies are often traded remotely online. The movement of assets, and that entities from different countries can participate in the same jurisdictions that do not have controls to prevent money laundering and financing of terrorism, make it difficult for regulated entities to detect suspicious transactions.”

To contact the assembler of the stories: Yashu Gola at yashu@forexminute.com

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