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Decision in 2 Weeks

Henry Rotich.

Treasury Secretary Henry Rotich has been reportedly given two weeks to decide whether cryptocurrencies need to be controlled by the Kenyan parliament, Business Daily Africa reported on Wednesday.

National Planning Committee and the Finance questioned Rotich from the country about bitcoin’s use. Specifically, the committee asked”why the Treasury and the Central Bank of Kenya (CBK) allowed individuals to venture into the unregulated cryptocurrency area without being licensed to operate and taxed,” the news outlet detailed and quoted the chairman of this committee, Joseph Limo, saying:

We’re surprised to hear that even the CBK isn’t aware that there’s an ATM in town a lounge at Kenyatta University, and a hotel in Nyeri which trade in bitcoins. There is a bigger problem in Kenya since people are trading billions in space yet the Treasury hasn’t licensed and taxed it for example commerce in bank and M-Pesa transactions.

When to Start Regulating

Rotich admitted that there is a lot of interest in cryptocurrency, adding that he will look into whether there are crypto exchanges operating in the country and best bitcoin casino free play. So far,”I am not aware of people operating locally…But I will endeavour to find out whether we’ve got neighborhood exchangers,” the book quoted him.

After explaining that the bank evaluate their risks to see whether regulation is required now or afterwards and will identify any crypto exchanges, he asserted:

The issue of cryptocurrencies is evolving and we could take a position as a countryBitcoin Casino Reviews: This is a delicate balance between supporting innovation and killing it.

Parliament’s Concerns about Crypto

Capital Business also reported on Wednesday that”Molo Constituency Member of Parliament Kimani Kuria wants cryptocurrencies such as bitcoins to be controlled because of risks associated with digital currencies.”

Citing that”cryptocurrency transactions are anonymous,” Kuria claims they”can easily be used by corrupt government officials seeking to conceal fraudulent money.”

He proceeded to explain,”A person that has billions of cash acquired wrongly needs only to buy several bitcoins that can store value in a system that lacks centralized outsight. Then he could go to another country, recover his money and move on with life.”

In answering a question by the Finance and National Planning Committee, Rotich was”hesitant to respond on the government’s capacity to monitor and regulate cryptocurrency transactions conducted within the Kenyan borders,” the news outlet described. However, he elaborated:

Unlike other investment avenues, no government authorities regulate cryptocurrencies. Due to limited comprehension of the cryptocurrency their unregulated nature and the influx of businesses engaging in it, it’s prone to abuse by criminals, terrorists and extortionists who are currently taking advantage of their space.

What do you think Kenya will do about cryptocurrencies? Tell us in the comments section below.

Pictures courtesy of Shutterstock and Wikipedia.

Need to calculate your bitcoin holdings? Check our tools department.

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5 Cryptocurrency Scams and Frauds You Can Prevent


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Bitcoin Has Come a Long Way in Eight Years CloudBet app

The Bitcoin Whitepaper

“Abstract. A purely peer-to-peer version of electronic money would allow online
Payments to be sent directly from one party to another without going through a
bank. Digital signatures provide part of the solution, but the chief
benefits are lost if a trusted third party is still required to stop double-spending.
We suggest a solution to the double-spending problem using a peer reviewed network.
The network timestamps trades by hashing them into a continuous chain of
hash-based proof-of-work, forming a record that cannot be changed without redoing
the proof-of-work. The longest chain not only serves as proof of this sequence of
events seen, but evidence that it came from the largest pool of CPU power and bitcoin live casino usa. As
long as the vast majority of CPU power is controlled by nodes which are not cooperating to
attack the system, they will generate the longest chain and outpace attackers. The
system itself requires minimal structure. Messages are broadcast on a best effort
basis, and nodes can leave and rejoin the community at will, accepting the maximum
proof-of-work chain as proof of what happened while they were gone.”

Bitcoin Has Come a Long Way in Eight Years

It’s apparent that Bitcoin means many things to a lot of men and women, while thinking about Bitcoin’s Birthdaybitcoin casino us bonus codes bitcoin casino live dealers view it as a store of value, having at the time of publishing an $11.1 Billion market cap it certainly is one.

At the exact same time, others see it as a trade system which enables people sell and to purchase products and services with minimal friction.

Others concentrate the technology of Bitcoin and its technologies as the worth that is true, with uses from storing data to bank transfers.

It is seen by many as much more and all those things. They use it to buy goods and services from an ever-growing collection of merchants and vendors, to part of the earnings in bitcoin.

Bitcoin Is Censorship Resistant

People in countries with currencies that are unstable or low-value use bitcoin to secure their wealth and to move their money. Others use Bitcoin to protect their money from governments who are more prone to seizing capital of its own citizens and morehighest paying bitcoin casino best bitcoin online casino registered and licensed the censorship resistance of Bitcoin provides the disadvantaged, or those a means to make themselves noticed.

Bitcoin has come a long way since Satoshi introduced the whitepaper and launched the genesis block.

Miners and pools’ Bitcoin processing network is one of the most robust networks backing any system in the world. Miners from all over the world participate in the community while there is centralization.

The network of hovers around the 5k to range with several unique versions of software represented. The main Satoshi client, bitcoin core, comprises 84 percent of all nodes at press time.

Birthday Bitcoin! You fought and have grown to become something that frees people but allows them to be their banks, be responsible for their financial future. Furthermore, you have allowed a voice and given those in need an outlet.

The Bitcoin industry continues to find considerable amounts of capital influx on both bitcoin valuebusinesses, and investment in the ecosystem. Furthermore, Bitcoin has spawned a myriad of coins from Litecoin to Zcash. More, contracts and Wise technologies have grown on other coins like Ethereum and RSK, and on the blockchain.

Moving forward, we look forward to what Bitcoin will achieve in the next 8 years.

What are your thoughts on Bitcoin’s 8th Birthday? Tell us in the comments section.

Images via Shutterstock, CoinDance,

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777Coin Casino review 2019 – best bonus

777Coin Inspection


Anonymous Bitcoin casinos are getting to be increasingly popular as gamblers search for better ways to hide their identity online. Simplicity, speed, accessibility and standing are important components to consider when finding a Bitcoin casino that is protected. This inspection will cover all there is to learn regarding the well established 777Coin — such as bonuses, games, security features and customer care.

Reportedly based in the US, 777Coin began in 2013 and is thought to be one of the earliest of this Bitcoin casino production. Ever since then it has shown itself as"provably honest", providing Bitcoin gamblers an assortment of transparent and secure games completely unique to the site. The library includes Blackjack, and enjoyable casino favorites such as Poker, Baccarat, Roulette, in addition to bespoke Bitcoin offerings that are tailored.

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Bitcoin Casino Games

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Bonuses and promotions

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Support & Security

The website offers an alternative for two-factor authentication, and itself is rather stable. Game offerings also supply high transparency — on every name, there is a"Proof" tab which shows player and server seeds. There is also an"Explanation/Verification" tab available on several titles, which thoroughly explains how the result was calculated. 777Coin employs a system which prevents Bitcoins from getting stolen on line.

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