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El Salvador Bitcoin Law: draft bank regulations released for consultation
- zuqar 5y agoThe draft regulation is similar to other existing regulations there, for example the "Electronic Money Providers Regulation". Even with the similarities, I would be surprised that an existing entity could come up with an app so fast as to have something workable by September 7 when Bitcoin becomes legal tender. It also inherits some defects of other Electronic Money and Banking regulations, the main one IMHO is exluding everyone who is under 18 y/o. Others are difficult to implement, like logging the IMEI, which is not provided by every smart phone manufacturer.
- davidgerard 5y agoyeah, there are certain signs of this being put out as quickly as possible.