Anonymity and privacy, and bath there are new laws that are required to end the possibility of anonymity or to address that in some way. I think, you know, as i stated in my comments, we are very focused within our business on having very deep levels of identity verification, we view that as critical. Others within the Digital Currency world, particularly within geographies that dont have the same type of regulatory regimes do not. There are other things we need to be thinking about that could address those issues. I think that arena needs additional and careful consideration. Thank you. I think there is broad consensus among the panel here, i was very heartened to hear the first panels message, and i think we have a lot of consensus, ill pick two issues to give you an answer. First, i was interested in listening to the gentleman from the secret service that said that centralized currencies pose the greatest risk as far as Money Laundering. And bit coin, because of their nature, they w
Kazakhstan russia melrose businessman in three countries open joint ventures students can study of any receipt and ordinary students and equal rights to employment. Someone is too much to do this. Heroes is going to Congress Considers that it is a valid on the twentieth anniversary of its establishment as when the sun historical agreement on establishment of this Integration Association austin are still a country show their interest economic potential is very high the problem of the economies of the three countries will amount to two point two trillion dollars billabong of investor production to three countries will make one point five trillion us dollars to a specialist dusty or asian economic integration provides us with the overall strategic Advantage Properties events in general we see Huge Positive role specific result of eurasia integration process. Well check in with the numbers comparable to perform such vocal about the removal of the eurasian economic unit revival of the sovie
Disagreement at all on those points. As it relates to areas i just dont think there is use for the laws at the exchange level. Know your customer, those kinds of provisions. The greatest challenge, the greatest area we have to grapple with is how do we enforce the enforcement techniques. And the fact that this is a global phenomenon. This is something that was just issued in march of this year. The guidance that directors just talk about, the Financial Action task force, their guidance on this issue was just issued this summer, i think in july. My sense is that most of the world is not applying Money Laundering principles. Getting from here to there is really the issue that the four of us would have to grapple with. Thank you. How do you go about reconciling the consensus . Ill take the second part first. I dont know that i heard a lot of disagreement or anything we would generally disagree with from this panel or even really from the first panel. I was heartened by that. I think that
Traditional methods where those arent possible. You dont need as much regulation on the consumer side in the long term to the midterm as the system grows up. In the short term, consumers should be aware this is a high risk environment, and its not quite ready for mass adoption today. That time is it coming, but its not here yet. Thank you. Mr. Allen opinion. I dont think i have much to add, other than to say, one of the groups i met with are industry leaders. They view as the other panelists do, Virtual Currency akin to cash. There is no fdsc. There is not that level of protection. So i think it has to be viewed as high risk, and i think the points that the other pannists made about the fact that Consumer Protections are part of a work in progress, but certainly something we need to be aware of. The in anticipation, this hearing is asking our staff tell me a little bit, who was the creator, who are the creators . And im told that the protocol was developed by either by a programmer or
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