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Bill: Cryptocurrency Act
Details
Submitted by[?]: Liberté et Égalité
Status[?]: defeated
Votes: This is an ordinary bill. It requires more yes votes than no votes. This bill will not pass any sooner than the deadline.
Voting deadline: February 4487
Description[?]:
| recognizing the dangers of fiscal evasion, money laundering, speculation, financing of terrorism and financial contraband that are around the cryptocurrencies Understanding cryptocurrencies as a non-formal monentational instrument. Considering the advantages of having a state cryptocurrency to digitize the monetary system and perform operations more easily. 2. Kizaki Bank and the central bank are authorized to generate their own cryptocurrencies. 3. Only financial institutions authorized by the Ministry of Finance may generate cryptocurrencies. 3.1 The algorithms, if used, must be authorized and generated by the Ministry of Science and Technology and must have the purpose of helping the work of the research centers. 4. The central bank is authorized to carry out the corresponding activities in order to digitize all the bills in circulation, keeping the metal coins of low value. 5. All authorized cryptocurrencies will have to link the currencies to the issuer and to the persons participating in the exchange or operation. The anonymous cryptocurrencies are prohibited and their use will be punished as tax evasion |
Proposals
Article 1
Proposal[?] to change Government policy on cryptocurrency.
Old value:: The government has no policy on cryptocurrency
Current: Cryptocurrency is legal and regulated, the state will issue it's own cryptocurrency.
Proposed: Cryptocurrency is legal and regulated, select private institutions can issue cryptocurrency.
Debate
These messages have been posted to debate on this bill:
| Date | 11:01:41, November 17, 2018 CET | From | Liberté et Égalité | To | Debating the Cryptocurrency Act |
| Message | recognizing the dangers of fiscal evasion, money laundering, speculation, financing of terrorism and financial contraband that are around the cryptocurrencies Understanding cryptocurrencies as a non-formal monentational instrument. Considering the advantages of having a state cryptocurrency to digitize the monetary system and perform operations more easily. 2. Kizaki Bank and the central bank are authorized to generate their own cryptocurrencies. 3. Only financial institutions authorized by the Ministry of Finance may generate cryptocurrencies. 4. The central bank is authorized to carry out the corresponding activities in order to digitize all the bills in circulation, keeping the metal coins of low value. 5. All authorized cryptocurrencies will have to link the currencies to the issuer and to the persons participating in the exchange or operation. The anonymous critpomonedas are prohibited and their use will be punished as tax evasion. |
| Date | 11:11:04, November 17, 2018 CET | From | Liberté et Égalité | To | Debating the Cryptocurrency Act |
| Message | Cryptocurrencies are a double-edged sword. On the one hand, they streamline day-to-day operations, as they do not have to rely on the physical currency, transactions are quick and reliable. On the other hand, anonymity means that transactions are few if not outrageous. This law aims to regulate a digital market, promote digital currencies and reduce tax evasion in the same period. Urbán Ktisztina Aggie |
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Voting
| Vote | Seats | ||
| yes |
Total Seats: 165 | ||
| no | Total Seats: 430 | ||
| abstain | Total Seats: 0 |
| Random fact: In order for a Cabinet bill to pass, more than half of the legislature must vote for it and all of the parties included in the proposed Cabinet must support it. If your nation has a Head of State who is also the Head of Government, then the party controlling this character must also vote for the bill, since the Head of Government is also a member of the Cabinet. If any of these requirements are not met, the bill will not pass. |
| Random quote: "[In the West] unpopular ideas can be silenced, and inconvenient facts kept dark, without any need for an official ban." - George Orwell |