State of Confusion
From the Emerging Technologies Blog
by Kevin Coleman
UPDATED MAY 2020 - This blog will appear monthly from now on. Today, all organizations depend on technological innovation in order to sustain their existence. Analysis of emerging technologies and identification of those technologies with the greatest potential is essential to being prepared for upcoming projects. The objective of this blog is to establish future oriented technology analysis and insights. This blog was established to provide program and project managers with information about these emerging technologies. These emerging technologies have far reaching repercussions for program and project managers. This blog will jump-start the learning process and allow program and project managers to become proactive.
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Date
In mid-September 2016, a Federal judge in New York issued a ruling that states Bitcoin constitutes a form of money.
Wow, in late July 2016, a Florida Judge ruled that Bitcoin is not money
Wait a minute, in 2016, the European Parliament passed a proposal to set up a task force to monitor virtual currencies, such as Bitcoin. No real decision yet!!!!
But hold on, in 2015 the Commodities and Futures Trading Commission defined Bitcoins and all cryptocurrencies as commodities in their regulatory process.
Time out, in 2014, the IRS ruled that Bitcoin would be considered a taxed property. That is certainly not money.
Hold on, in 2014 the Financial Crimes Enforcement Network (FinCEN) [They Have Guns] provided guidance on bitcoin exchanges and payment processors, finding that they are considered money services businesses under US law.
This technology has certainly created a state of confusion!
Posted on: September 21, 2016 08:48 PM |
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Comments (4)
Please login or join to subscribe to this item
My big concern... the legal status
http://www.projectmanagement.com/discussion-topic/42084/CryptoCurrencies--BitCoin---Here-is-a-technology-that-is-growing-and-will-produce-many-projects-
Kevin Coleman
Subject Matter Expert, Author, Speaker and Strategic Advisor| - Insights
Pa, United States
@ Maria - YOU are not alone!!!!
Tobe Phelps
Director of Digital Experience| Central New Mexico Community College
Albuquerque, Nm, United States
There is always risk and uncertainty with new technologies and forms of currency/property. Just remember how many issues lingered for years after the instantiation of credit cards/debit cards
new presidents around the world, new rules... bitcoin price is dropping...let's see what happen in 2017!
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