To donate, please visit press. Org institute. On behalf of members worldwide, i would like to welcome our speaker today and those of you in our audience. Our head table includes guests of our speaker as well as working journalists who are club members. And if you hear applause in our audience, i would note that members of the general public are also attending so its not necessarily evidence of a lack of journalistic objectivity. I would also like to welcome our cspan and public radio audiences. You can follow the hash tag on twitter today using the hash tag npclunch. Ill ask as many questions as time permits. Now its time to introduce our head table guest. I would ask each to stand briefly as your name is announced. From your right, richard strauss, former white house radio director. Barbara cochran, head of the National Press Club Journalism institutes. Yolanda is ceo and former deputy chair of the Democratic National committee. Kathy spiller executive editor of ms magazine. Elle pres
This case, because to me, the anonymity that is associated with users and their wallets would suggest, i really dont need to try to cover who owns the money. Se, thank you. Im out of time. So were going to pass this on to our ranking member. Thank you. We id love to be at your home as e youre explaining to your wife how your Virtual Company gave you a virtual paycheck, using virtual money, but that being ry the case, i assume your business wants more consumers than investors. We are just a merchandise acquirer. We only facilitate payments for the merchants. Were strictly focusing on business acception and adoption of bit coin. T would im just wondering what woulr happen if someone like senator warner cornered the market on vi virtual coins. How would that impact the consumer marketplace . We l its interesting. We look at bit coin being traded in open markets today. Very and china is getting very aggressive in the open market. If we want america to remain a w leader in technology and in
And then the company suck. Com ad gets founded and somebody sets up a fake Facebook Page and pretends to be that company and that Company Loses significant reputation when they choose to stick their head in the sand ann not engage and not Pay Attention to whats happening. Th so my concern, with not getting into regulating this area and being interested in what happens here, is that it will be it could eventually affect our Financial Systems reputation. U. And i understand that. My point is frequently in thesen situations, we think about how t were going to fix it, or facilitate it when we maybe we should leave it alone and warn r people, youre on your own. I think from a consumer a perspective and a user perspective, that this is where we are. Is and i think thats a very fair , point. Stions. Well, we are all left with ao lot of questions. Were going to turn to senator n schumer. First to followup on some of those questions, the separationb of the Payment System to the banking system,
Help pay for needy social spending and poverty reduction, thats important. But also as a very important part of improving governments and combatting corruption, you dont want to face a culture where every time you meet the tan tax man, youre having a long haggle as to how much of your tax payment will go to him or her and how much will go to the treasury. Youre wasting time negotiating with the tax man, you should be negotiating with your customers and suppliers. So there is a twofold impact there. Let me just follow up on that. For those of us who rely on the newspapers and television to inform ourselves of developments, there were these abiding images of pallets of hard currency being exported every day out of cabo to buy. Has that stopped . Because if there is a leakage, and if the money is spent within the country, then even then the economy would profit from it even if it didnt go through the filter of government. Some might think thats not a bad thing. But has there been enough d
The attorneys present particular problems. Does that present the exact home every cell phone has . I was referring to the privilege rule. The court looked at it. The lower courts that have looked at the questions that if a person is arrested holding a briefcase they can open the briefcase whether it is locked or unlocked and look at its contents. They cant just go through for interest. They can look for evidence that is relevant to comal activity and they do that in a way that is minimally invasive of privacy not just for the sake of doing it. Some cell phones have tax returns so you would have a return on the jaywalker looking for a crime. If the court is looking for a rule that limits the ability of the police to search cell phones because cell phones are different from paper items in some respects but not all. The most reasonable rule to apply to be one that says when there is a reason to believe that there is evidence of the crime of the arrest on the phone the officers can look fo