Quotes from Perianne Boring

The key benefits of a Special Purpose National Bank Charter are uniform regulations, standards, supervision, and authority for emerging financial technology companies to operate nationwide.

The blockchain industry generally agrees that some kind of a national license or charter is the best way to go, similar to the United Kingdom, where there is only one central regulator.

Sir Richard Branson started out as a small business owner and now owns a conglomerate that will give you a ride to the moon. If you pay for your ride with bitcoin, you'll be using the first truly universal currency!

An unsolicited sales pitch may be part of a fraudulent investment scheme. Exercise extreme caution if you receive an unsolicited communication - meaning you didn't ask for it and don't know the sender - about an investment opportunity.

Daniel Masters is a master of the commodities markets with over 30 years experience. His bitcoin strategy is based on the parallels he sees from the oil industry in 1999 to the current state of bitcoin.

Businesses which were slow to recognize the power of the Internet in the mid '90s were quickly left behind. For example, Blockbuster failed to innovate with streaming technology and filed for Chapter 11 bankruptcy in 2010.

I hold no economic interest in any company in this industry; however, I do hold and use digital currency for my personal use. I strive to keep myself non-biased and work with the highest integrity.

The law provides a remedy, charging those who threaten a victim's data for the purpose of extortion. Extending criminal liability to innocent third-party digital currency exchangers, or any other third-party financial institution, would be an utterly unwarranted and unjust misinterpretation both of law and policy.

Exchanging bitcoin on behalf of ransomware victims should not be construed as criminal activity by the exchanger, not as a matter of law nor as sound policy. Such an interpretation would set a precedent that would surely cause real harm to the public, to the blockchain ecosystem, and to the financial services industry as a whole.

Applying criminal law to the exchange of bitcoin on behalf of ransomware victims would create a morally shocking result of re-victimizing a victim. All lawfully operating digital currency exchanges would thereafter refuse to exchange bitcoin for ransomware victims for fear of criminal culpability.

Bitcoin has been described as a decentralized, peer-to-peer virtual currency that is used like money - it can be exchanged for traditional currencies such as the U.S. dollar or used to purchase goods or services, usually online. Unlike traditional currencies, Bitcoin operates without central authority or banks and is not backed by any government.

The IRS issued guidance for virtual currencies on March 25, 2014 that stated virtual currencies, including Bitcoin, are to be treated as property for federal tax purposes. This requires capital gains on virtual currencies to be recorded and reported. The Bitcoin Foundation says this could lead to unrealistic reporting.

In March 2013, FinCEN issued guidance for virtual currency businesses - giving the industry some degree of clarity about how to be compliant on the federal level.