Talk about the recent development of Bitcoin: Russia's main ban, Australia's main extension

Russia, actively prohibit

In August this year, the Russian Treasury, for the first time publicly, plans to draft a bill that could be banned from virtual currencies such as Bitcoin, according to the definition of alternative currencies ("Money surrogates").

This 2-page complete draft has been released-it targets businesses and individuals, the main content is a series of administrative fines for the production, use and promotion of virtual currencies such as Bitcoin – if the content of the bill is not adjusted, all production and distribution software supporting alternative currencies in Russia will be hit hard, for example: mining plants, Exchange and other Bitcoin service providers.

Talking about numbers, personal manufacturing of virtual currencies will be fined from 30,000 to 50,000 rubles, about 750 to 1,250 dollars. If officials were to be prosecuted, they would have to take out 60,000 to 100,000 rubles, about 1,500 to 2,500 dollars, and businesses from 500,000 to 1 million rubles, about 12,500 to 25,000 dollars. If engaged in the dissemination and promotion, then the individual penalty 5,000 to 50,000 roubles, officials 20,000 to 100,000 roubles, the enterprise 500,000 to 1m rubles.

Australia, actively explore

On the other hand, the Australian Senate Economic Review Committee issued a statement this week to investigate the effects of virtual currencies such as Bitcoin, which will be presented to Congress next March. The Chairman of the committee is Labour Senator Sam Dastyari, who will lead the team to investigate the potential economic impact of the digital currency in various industries, such as banking and retailing. In addition, the survey also aims to help the Australian government more and more sense of the regulation of virtual currency activities + tax "play".

Commerce Association, the leading industry lobby group ADCCA (Australian Digital Currency Ronald Tucker), praised the plan's vision:

It is necessary to incorporate the virtual currency into the management of the appropriate regulatory bodies, such as the Australian Transaction Reporting and Analysis Centre (Austrac,australian Transaction Reports and analytical Pew), This is a good way to develop the best national consumer protection and security standards.

He also noted that by encouraging innovation and entrepreneurship, Australia's Congress could create more jobs and help the country become a leader in financial technology. At the same time, Tucker also called for an adjustment to the Bitcoin tax scheme, launched by the Australian Tax Office in August this year – the local bitcoin industry is uncomfortable with the virtual currency being used as a taxing supply – under which the Australian exchange's Bitcoin will have to add a 10% tax on the price + A detailed record of mandatory business retention of transactions and price fluctuations.

We'll talk a little more. In August, the Australian Tax Office, based on existing laws, defines the properties of Bitcoin and digital currencies by imposing a sales goods and services Tax (GST) + Capital gains tax (CGT), which is very similar to equity assets. It is "more complicated" for those who convert Bitcoin to Australian dollars--for personal use, and customers with an exchange rate below 10,000 are not taxed, but if you sell bitcoin on the GST-registered exchange, you will personally retain the tax receipts for each transaction.

Melbourne start-up CoinJar, who launched the first Zhang Bitte debit card in Australia, said:

From a number of sides, this scheme has made the status of Bitcoin users in Australia very clear, but we do not think this package is very suitable for our country. Our financial system can be a little more concise. CoinJar will maintain cooperation with the Macao Tax Bureau and help to burnish the package.

Adcca, by contrast, emphasizes self-regulation:

There is a consensus that through the trade associations of several countries, a combination of self-regulation and sound regulation could be the most practical and efficient way to address the needs of international dialogue, as well as the ultimate framework for global financial technology issues such as Bitcoin and other virtual currencies.

In November this year, the G20 Summit was held in Brisbane, Australia, and Tucker pointed out that Australia could play a pioneering role as a spokesperson and discuss the issues of new currencies with the leaders of participating countries on formal and grand occasions. In other words, Adcca last month took part in a "self-regulatory financial forum" organised by the World Bank, the IMF and G20, which is a hot topic.

Richest man: Bitcoin is exciting because it ' s Cheap

In an interview with Bloomberg, Bill Gates shared his insights on Bitcoin and the potential for innovation in the payment industry, with video addresses.

Mr Gates said Bitcoin was "exciting" because it offered cheaper trading networks and

Bitcoin is better than traditional currency, you don't have to put it in one place. You know, in the case of big deals, it's not easy to use traditional currencies.

However, he also said that the current Bitcoin may not be able to attract the mass market, but the key lies in its anonymity-terrorism, money-laundering and so on, the reputation of the coin to stir more complex.

Some customers do not want to be anonymous, but rather they want to know each other's identities. Let's just say that Bitcoin's technology is the key, and you can use this technology, or develop similar technologies, so that you can work with terrorism, money laundering and so on, and people will accept it.

In February this year, Gates launched the AMA on Reddit ("Ask Me Casually"), and several users asked him what he thought of Bitcoin. Gates was evasive at the time, while affirming the digital money network, such as Kenya's Pesa.

Now that I'm talking about Pesa, let's talk about the development of mobile payments.

Pesa was launched at the end of 06, initially as a microfinance product-the goal is to help people in Africa without bank accounts-80% of the population-to enjoy banking services through mobile devices. It can be said that the Pesa "revolutionary" changes in local banks, bills and other funds transfer activities, and now it has entered Afghanistan and other fields.

Yes, mobile payments are growing very rapidly in developing countries.

Australia's Gemini recently published the 2014 World Bank pay report: The use of mobile payments, including in Asia, Latin America, Central Europe and the Middle East, has maintained a strong growth. In the 2012, 25% of the world's non-cash payments occurred in developing countries – a report that even predicted that emerging economies would surpass the developed countries in non-cash payments in 2021.

Not only in developing countries, but also in established capital powers such as Sweden, banks are phasing out cash-paying operations--for example, 200 to 300 branches of the Nordic Union Bank are not prepared for cash. However, there are also "upstream", in Canada, Belgium, Ireland, Slovenia, Greece, are (moderately) lower non-cash payments. However, a Canadian working group on an audit payment system published in 2013 that the transition to a virtual currency would be "Canada's Key" – a shift that would require the cooperation of all stakeholders.

Oh, the report also mentions Bitcoin: it portrays Bitcoin as prepaid retail cards, prepaid mobile wallets, payment aggregates, "hidden and unreported remittance payment tools + Solutions"-reports that these forms of payments could lead to an increase in non-cash transactions. Forbes judged: In 2012, the daily average of the bitcoin was used for 35,000 transactions, and in 2013 the 60,000--grew by more than 70%.

But mobile payments, digital transactions, and their closely related virtual currencies need to overcome many problems if they are to gain benign development. For example: reducing regulatory risk: money laundering, terrorism--this involves a further match between mobile payments and Basel III norms. Also, the use of short-range radio communications technology, digital payment notices and other technical achievements.

You know, technology and finance are shaking up.