#rob uses the same address as some other llcs

[charmac]

X

[goldira01]

The Commercial Court of Nanterre’s Feb. 26 ruling that Bitcoin (BTC) is a fungible, intangible asset sent some ripples through the French crypto community, and beyond. This may seem surprising, given that this was a lower court decision and, moreover, one that did not declare BTC a currency or fiat money — as some news stories reported — but just a fungible asset like money. 

The ruling is “an important milestone for further development of the crypto market, particularly in France,” Roman Matkovskyy — associate professor at the Rennes School of Business — told Cointelegraph. 

“The French court’s characterization of Bitcoin as financial instrument could be an important development in the legitimization of the cryptocurrency,” added John Wagster, an attorney at Frost Brown Todd LLC, in a statement to Cointelegraph, “but the real significance of the ruling will be determined by if and how it is incorporated into France’s regulatory regime.” Wagster added that the French court has moved the first chess piece, and it will be interesting to see how the French regulatory authorities respond. 

Christopher Giancarlo, senior counsel at Willkie Farr & Gallagher LLP and former chairman of the United States Commodity Futures Trading Commission, told Cointelegraph that he believes that the ruling will probably have an impact in France and perhaps elsewhere, as in the E.U., adding:

“Broadly, legally speaking, how an asset is legally defined is the starting point for how it will be regulated.” 

Fungible, intangible assets

Hubert de Vauplane, an attorney at Kramer Levin Naftalis & Frankel LLP, told Cointelegraph that because in its decision that the tribunal claimed that Bitcoin is a fungible and intangible asset, “consequently, Bitcoin lending only requires the borrower to repay Bitcoins of the same type, quality and quantity to the lender (absent specific provisions to the contrary in the loan agreement).” 

As a result, any gains or advantages accruing to the borrower during the lifetime of the loan can be retained by the borrower. In this instance, the French judges confirmed that because a hard fork leading to the creation of Bitcoin Cash (BCH) occurred during the period of the loan, the borrower is able to keep the BCH received during this time. 

The matter of fungibility seems arcane, but it goes to the heart of the decision. An asset is fungible if it is interchangeable. A grain of rice or a U.S. dollar can be substituted for each another — whatever their origin is — because they are fungible. By comparison, people or works of art or customized sailboats are not interchangeable because they are non-fungible.

If BTC had been ruled by the tribunal to be non-fungible, “it would be a disaster for the market,” said Vauplane, in particular for any future BTC lending or borrowing activities. It would mean the BTC borrower would have to return to the lender the self-same assortment of BTC — i.e., with the same crypto addresses — which, of course, is absurd. “This decision appears to be applicable to any other fungible cryptocurrency or token,” added Vauplane, concluding that “it’s a lower-court decision, but a quality legal decision.” It can still be overturned — by an appeals court, for instance.

A precedent for crypto? 

Still, in the crypto world, institutional recognition is important, even if comes from a lower-level European commerce court. “This ruling in France should legitimize crypto further and could encourage more adoption and new entrants into crypto even if it does not become law,” Rob Odell, co-president and chief product officer of Salt Lending, told Cointelegraph, adding: 

“France is the 7th largest economy in the world by GDP, so it certainly is likely to influence other markets, especially in the EU, initially. In such a new and emerging market and technology like Bitcoin, regulators around the world do look to how other countries’ regulators are viewing cryptocurrencies. So, any ruling France makes will be closely observed by regulators worldwide.” 

In France, the ruling has created excitement with regard to new business possibilities. According to Matkovskyy, “Bitcoin lending now falls under the ‘consumer loan’ [designation], meaning [it is] a transfer of loaned ownership property to the borrower. […] It will facilitate Bitcoin transactions, including lending and repo — i.e., repurchase agreements — a form of short-term borrowing — transactions.” Matkovskyy went on to add:

“It can potentially create a new competition among the banks and stimulate further development of the Bitcoin market. It is estimated that lending accounts for 80% of total value locked in DeFi. Thus, it can potentially unlock some part of it.”

Regulators wield clout

Not everyone was ready to pronounce this a milestone case, however. “I‘m wondering where the news is in this court decision,” Michael Reuter, co-chairman of the European Blockchain Association, told Cointelegraph: 

“From my perspective, rather than the classification of the unit, the handling of commercial (proprietary) trading of Bitcoin and other coins is of more importance.” 

Back in 2014, Germany’s Federal Financial Supervisory Authority, or BaFin, declared Bitcoin a financial instrument in the form of units of account pursuant to the German Banking Act, explained Reuter. But in early March 2020, BaFin stopped the operations of a Berlin-based company that allowed consumers to buy and sell cryptocurrencies through ATMs. The regulator’s enforcement action was arguably more decisive than any legal definition of BTC.

Regulators may be as important as courts or even legislatures when it comes to determining future permissible crypto activities, said Angela Angelovska-Wilson, co-founder and chief legal officer of Sila transaction network. 

“[The U.S. state of] Wyoming passed a bill in 2019 adding further legal clarification on digital assets and cryptocurrencies to encourage blockchain businesses to set up shop in Wyoming, but this has not yet not had a major impact on US federal regulations,” she told Cointelegraph. “It all depends on the importance that a regulatory agency gives to a court ruling.” 

But that doesn’t necessarily mean the Nanterre ruling is inconsequential. “What the French court ruling might do is pave the way for more clear and transparent investment rules concerning Bitcoin itself,” suggested Wagster.

Less impact in the U.S.?

In the U.S., the legal definition of BTC has basically been settled, Giancarlo told Cointelegraph. Since 2015, the CFTC has recognized digital currencies as commodities, and the legal definition of Bitcoin as a commodity has been supported in the courts. So, the Nanterre court ruling is probably “not so important in the U.S.” at least with regard to BTC. However, the definition of other cryptocurrencies is less settled.

Crypto regulation in France, as in the U.S., appears to be evolving organically. This approach has the advantage that it is less likely to stifle technological innovation. But it can be confusing. As Carol Goforth, a law professor at the University of Arkansas, told Cointelegraph in August: “Regulatory authority in the U.S. is split among too many diverse agencies, and they all have their missions and their interests to assert.”

Three baskets of digital assets

The Crypto-Currency Act of 2020 — a bill introduced on March 9, 2020 — by U.S. Rep. Paul Gosar (R-AZ), for instance, classifies digital assets into three categories: crypto-commodity, crypto-currency and crypto-security. Under the proposed legislation, these three categories would be governed, respectively, by the CFTC, the Secretary of the Treasury via the Financial Crimes Enforcement Network and the Securities and Exchange Commission.

Related: Hester Peirce Says SEC Is a Partner to Crypto, as US States Chase Regulations

“Interestingly, the language of the bill would seem to cement the status of digital assets like Bitcoin as crypto-commodities rather than crypto-currencies,” reported Cointelegraph. By comparison, stablecoins would probably fall into the currencies basket. 

The U.S. Internal Revenue Service, for its part, considers BTC to be property rather than currency, noted Odell, going back to 2014. In 2020, for the first time, federal tax forms began asking about taxpayers’ Bitcoin and other cryptocurrency activities:

“While this does mention crypto as a ‘virtual currency,’ this does not change Bitcoin’s status to a currency in the eyes of the IRS,” said Odell, adding that it does mean the IRS is starting to regulate crypto — which is good for the crypto industry.

Related: Bitcoin Is Property, Chinese Court Rules — No Crypto Ban Contradiction

Elsewhere, a Chinese court concluded in July 2019 that Bitcoin should be considered digital property — not a currency. Japan, meanwhile, went the other way, recognizing Bitcoin and other cryptos as “money” in 2016. 

A wake-up call? 

In the end, the actual classification of BTC in the Nanterre court case may be less important than the mere fact that it is being classified. “Bitcoin is already considered a financial instrument by many throughout the world,” affirmed Wagster, adding:

“The recognition by the court of a major European economy carries particular weight. The nomenclature the court uses is not important, but the fact that Bitcoin now falls into a category of financial instruments that will likely be monitored and regulated by the French government is significant.”

Additionally, Cred CEO Dan Schatt told Cointelegraph that this ruling could have a deeper meaning behind it in the long run: 

“The fact that an OECD country is recognizing BTC as an ‘interchangeable’ [i.e., fungible] asset is progress — it’s a wake-up call to banks, institutional investors and regulators that Bitcoin is here to stay. Whether it will actually be used as money is less important than the institutional recognition this will bring, which inevitably leads to an inflow of funds for this asset class.”

[angryconnoisseurface]

French Court Moves the BTC Chess Piece — How Will Regulators Respond?

The Commercial Court of Nanterre’s Feb. 26 ruling that Bitcoin (BTC) is a fungible, intangible asset sent some ripples through the French crypto community, and beyond. This may seem surprising, given that this was a lower court decision and, moreover, one that did not declare BTC a currency or fiat money — as some news stories reported — but just a fungible asset like money. 

The ruling is “an important milestone for further development of the crypto market, particularly in France,” Roman Matkovskyy — associate professor at the Rennes School of Business — told Cointelegraph. 

“The French court’s characterization of Bitcoin as financial instrument could be an important development in the legitimization of the cryptocurrency,” added John Wagster, an attorney at Frost Brown Todd LLC, in a statement to Cointelegraph, “but the real significance of the ruling will be determined by if and how it is incorporated into France’s regulatory regime.” Wagster added that the French court has moved the first chess piece, and it will be interesting to see how the French regulatory authorities respond. 

Christopher Giancarlo, senior counsel at Willkie Farr & Gallagher LLP and former chairman of the United States Commodity Futures Trading Commission, told Cointelegraph that he believes that the ruling will probably have an impact in France and perhaps elsewhere, as in the E.U., adding:

“Broadly, legally speaking, how an asset is legally defined is the starting point for how it will be regulated.” 

Fungible, intangible assets

Hubert de Vauplane, an attorney at Kramer Levin Naftalis & Frankel LLP, told Cointelegraph that because in its decision that the tribunal claimed that Bitcoin is a fungible and intangible asset, “consequently, Bitcoin lending only requires the borrower to repay Bitcoins of the same type, quality and quantity to the lender (absent specific provisions to the contrary in the loan agreement).” 

As a result, any gains or advantages accruing to the borrower during the lifetime of the loan can be retained by the borrower. In this instance, the French judges confirmed that because a hard fork leading to the creation of Bitcoin Cash (BCH) occurred during the period of the loan, the borrower is able to keep the BCH received during this time. 

The matter of fungibility seems arcane, but it goes to the heart of the decision. An asset is fungible if it is interchangeable. A grain of rice or a U.S. dollar can be substituted for each another — whatever their origin is — because they are fungible. By comparison, people or works of art or customized sailboats are not interchangeable because they are non-fungible.

If BTC had been ruled by the tribunal to be non-fungible, “it would be a disaster for the market,” said Vauplane, in particular for any future BTC lending or borrowing activities. It would mean the BTC borrower would have to return to the lender the self-same assortment of BTC — i.e., with the same crypto addresses — which, of course, is absurd. “This decision appears to be applicable to any other fungible cryptocurrency or token,” added Vauplane, concluding that “it’s a lower-court decision, but a quality legal decision.” It can still be overturned — by an appeals court, for instance.

A precedent for crypto? 

Still, in the crypto world, institutional recognition is important, even if comes from a lower-level European commerce court. “This ruling in France should legitimize crypto further and could encourage more adoption and new entrants into crypto even if it does not become law,�� Rob Odell, co-president and chief product officer of Salt Lending, told Cointelegraph, adding: 

“France is the 7th largest economy in the world by GDP, so it certainly is likely to influence other markets, especially in the EU, initially. In such a new and emerging market and technology like Bitcoin, regulators around the world do look to how other countries’ regulators are viewing cryptocurrencies. So, any ruling France makes will be closely observed by regulators worldwide.” 

In France, the ruling has created excitement with regard to new business possibilities. According to Matkovskyy, “Bitcoin lending now falls under the ‘consumer loan’ [designation], meaning [it is] a transfer of loaned ownership property to the borrower. […] It will facilitate Bitcoin transactions, including lending and repo — i.e., repurchase agreements — a form of short-term borrowing — transactions.” Matkovskyy went on to add:

“It can potentially create a new competition among the banks and stimulate further development of the Bitcoin market. It is estimated that lending accounts for 80% of total value locked in DeFi. Thus, it can potentially unlock some part of it.”

Regulators wield clout

Not everyone was ready to pronounce this a milestone case, however. “I‘m wondering where the news is in this court decision,” Michael Reuter, co-chairman of the European Blockchain Association, told Cointelegraph: 

“From my perspective, rather than the classification of the unit, the handling of commercial (proprietary) trading of Bitcoin and other coins is of more importance.” 

Back in 2014, Germany’s Federal Financial Supervisory Authority, or BaFin, declared Bitcoin a financial instrument in the form of units of account pursuant to the German Banking Act, explained Reuter. But in early March 2020, BaFin stopped the operations of a Berlin-based company that allowed consumers to buy and sell cryptocurrencies through ATMs. The regulator’s enforcement action was arguably more decisive than any legal definition of BTC.

Regulators may be as important as courts or even legislatures when it comes to determining future permissible crypto activities, said Angela Angelovska-Wilson, co-founder and chief legal officer of Sila transaction network. 

“[The U.S. state of] Wyoming passed a bill in 2019 adding further legal clarification on digital assets and cryptocurrencies to encourage blockchain businesses to set up shop in Wyoming, but this has not yet not had a major impact on US federal regulations,” she told Cointelegraph. “It all depends on the importance that a regulatory agency gives to a court ruling.” 

But that doesn’t necessarily mean the Nanterre ruling is inconsequential. “What the French court ruling might do is pave the way for more clear and transparent investment rules concerning Bitcoin itself,” suggested Wagster.

Less impact in the U.S.?

In the U.S., the legal definition of BTC has basically been settled, Giancarlo told Cointelegraph. Since 2015, the CFTC has recognized digital currencies as commodities, and the legal definition of Bitcoin as a commodity has been supported in the courts. So, the Nanterre court ruling is probably “not so important in the U.S.” at least with regard to BTC. However, the definition of other cryptocurrencies is less settled.

Crypto regulation in France, as in the U.S., appears to be evolving organically. This approach has the advantage that it is less likely to stifle technological innovation. But it can be confusing. As Carol Goforth, a law professor at the University of Arkansas, told Cointelegraph in August: “Regulatory authority in the U.S. is split among too many diverse agencies, and they all have their missions and their interests to assert.”

Three baskets of digital assets

The Crypto-Currency Act of 2020 — a bill introduced on March 9, 2020 — by U.S. Rep. Paul Gosar (R-AZ), for instance, classifies digital assets into three categories: crypto-commodity, crypto-currency and crypto-security. Under the proposed legislation, these three categories would be governed, respectively, by the CFTC, the Secretary of the Treasury via the Financial Crimes Enforcement Network and the Securities and Exchange Commission.

Related: Hester Peirce Says SEC Is a Partner to Crypto, as US States Chase Regulations

“Interestingly, the language of the bill would seem to cement the status of digital assets like Bitcoin as crypto-commodities rather than crypto-currencies,” reported Cointelegraph. By comparison, stablecoins would probably fall into the currencies basket. 

The U.S. Internal Revenue Service, for its part, considers BTC to be property rather than currency, noted Odell, going back to 2014. In 2020, for the first time, federal tax forms began asking about taxpayers’ Bitcoin and other cryptocurrency activities:

“While this does mention crypto as a ‘virtual currency,’ this does not change Bitcoin’s status to a currency in the eyes of the IRS,” said Odell, adding that it does mean the IRS is starting to regulate crypto — which is good for the crypto industry.

Related: Bitcoin Is Property, Chinese Court Rules — No Crypto Ban Contradiction

Elsewhere, a Chinese court concluded in July 2019 that Bitcoin should be considered digital property — not a currency. Japan, meanwhile, went the other way, recognizing Bitcoin and other cryptos as “money” in 2016. 

A wake-up call? 

In the end, the actual classification of BTC in the Nanterre court case may be less important than the mere fact that it is being classified. “Bitcoin is already considered a financial instrument by many throughout the world,” affirmed Wagster, adding:

“The recognition by the court of a major European economy carries particular weight. The nomenclature the court uses is not important, but the fact that Bitcoin now falls into a category of financial instruments that will likely be monitored and regulated by the French government is significant.”

Additionally, Cred CEO Dan Schatt told Cointelegraph that this ruling could have a deeper meaning behind it in the long run: 

“The fact that an OECD country is recognizing BTC as an ‘interchangeable’ [i.e., fungible] asset is progress — it’s a wake-up call to banks, institutional investors and regulators that Bitcoin is here to stay. Whether it will actually be used as money is less important than the institutional recognition this will bring, which inevitably leads to an inflow of funds for this asset class.”

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The post French Court Moves the BTC Chess Piece — How Will Regulators Respond? appeared first on Tip Crypto.

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[coinfirst]

French Court Moves the BTC Chess Piece — How Will Regulators Respond?

The Commercial Court of Nanterre’s Feb. 26 ruling that Bitcoin (BTC) is a fungible, intangible asset sent some ripples through the French crypto community, and beyond. This may seem surprising, given that this was a lower court decision and, moreover, one that did not declare BTC a currency or fiat money — as some news stories reported — but just a fungible asset like money. 

The ruling is “an important milestone for further development of the crypto market, particularly in France,” Roman Matkovskyy — associate professor at the Rennes School of Business — told Cointelegraph. 

“The French court’s characterization of Bitcoin as financial instrument could be an important development in the legitimization of the cryptocurrency,” added John Wagster, an attorney at Frost Brown Todd LLC, in a statement to Cointelegraph, “but the real significance of the ruling will be determined by if and how it is incorporated into France’s regulatory regime.” Wagster added that the French court has moved the first chess piece, and it will be interesting to see how the French regulatory authorities respond. 

Christopher Giancarlo, senior counsel at Willkie Farr & Gallagher LLP and former chairman of the United States Commodity Futures Trading Commission, told Cointelegraph that he believes that the ruling will probably have an impact in France and perhaps elsewhere, as in the E.U., adding:

“Broadly, legally speaking, how an asset is legally defined is the starting point for how it will be regulated.” 

Fungible, intangible assets

Hubert de Vauplane, an attorney at Kramer Levin Naftalis & Frankel LLP, told Cointelegraph that because in its decision that the tribunal claimed that Bitcoin is a fungible and intangible asset, “consequently, Bitcoin lending only requires the borrower to repay Bitcoins of the same type, quality and quantity to the lender (absent specific provisions to the contrary in the loan agreement).” 

As a result, any gains or advantages accruing to the borrower during the lifetime of the loan can be retained by the borrower. In this instance, the French judges confirmed that because a hard fork leading to the creation of Bitcoin Cash (BCH) occurred during the period of the loan, the borrower is able to keep the BCH received during this time. 

The matter of fungibility seems arcane, but it goes to the heart of the decision. An asset is fungible if it is interchangeable. A grain of rice or a U.S. dollar can be substituted for each another — whatever their origin is — because they are fungible. By comparison, people or works of art or customized sailboats are not interchangeable because they are non-fungible.

If BTC had been ruled by the tribunal to be non-fungible, “it would be a disaster for the market,” said Vauplane, in particular for any future BTC lending or borrowing activities. It would mean the BTC borrower would have to return to the lender the self-same assortment of BTC — i.e., with the same crypto addresses — which, of course, is absurd. “This decision appears to be applicable to any other fungible cryptocurrency or token,” added Vauplane, concluding that “it’s a lower-court decision, but a quality legal decision.” It can still be overturned — by an appeals court, for instance.

A precedent for crypto? 

Still, in the crypto world, institutional recognition is important, even if comes from a lower-level European commerce court. “This ruling in France should legitimize crypto further and could encourage more adoption and new entrants into crypto even if it does not become law,” Rob Odell, co-president and chief product officer of Salt Lending, told Cointelegraph, adding: 

“France is the 7th largest economy in the world by GDP, so it certainly is likely to influence other markets, especially in the EU, initially. In such a new and emerging market and technology like Bitcoin, regulators around the world do look to how other countries’ regulators are viewing cryptocurrencies. So, any ruling France makes will be closely observed by regulators worldwide.” 

In France, the ruling has created excitement with regard to new business possibilities. According to Matkovskyy, “Bitcoin lending now falls under the ‘consumer loan’ [designation], meaning [it is] a transfer of loaned ownership property to the borrower. […] It will facilitate Bitcoin transactions, including lending and repo — i.e., repurchase agreements — a form of short-term borrowing — transactions.” Matkovskyy went on to add:

“It can potentially create a new competition among the banks and stimulate further development of the Bitcoin market. It is estimated that lending accounts for 80% of total value locked in DeFi. Thus, it can potentially unlock some part of it.”

Regulators wield clout

Not everyone was ready to pronounce this a milestone case, however. “I‘m wondering where the news is in this court decision,” Michael Reuter, co-chairman of the European Blockchain Association, told Cointelegraph: 

“From my perspective, rather than the classification of the unit, the handling of commercial (proprietary) trading of Bitcoin and other coins is of more importance.” 

Back in 2014, Germany’s Federal Financial Supervisory Authority, or BaFin, declared Bitcoin a financial instrument in the form of units of account pursuant to the German Banking Act, explained Reuter. But in early March 2020, BaFin stopped the operations of a Berlin-based company that allowed consumers to buy and sell cryptocurrencies through ATMs. The regulator’s enforcement action was arguably more decisive than any legal definition of BTC.

Regulators may be as important as courts or even legislatures when it comes to determining future permissible crypto activities, said Angela Angelovska-Wilson, co-founder and chief legal officer of Sila transaction network. 

“[The U.S. state of] Wyoming passed a bill in 2019 adding further legal clarification on digital assets and cryptocurrencies to encourage blockchain businesses to set up shop in Wyoming, but this has not yet not had a major impact on US federal regulations,” she told Cointelegraph. “It all depends on the importance that a regulatory agency gives to a court ruling.” 

But that doesn’t necessarily mean the Nanterre ruling is inconsequential. “What the French court ruling might do is pave the way for more clear and transparent investment rules concerning Bitcoin itself,” suggested Wagster.

Less impact in the U.S.?

In the U.S., the legal definition of BTC has basically been settled, Giancarlo told Cointelegraph. Since 2015, the CFTC has recognized digital currencies as commodities, and the legal definition of Bitcoin as a commodity has been supported in the courts. So, the Nanterre court ruling is probably “not so important in the U.S.” at least with regard to BTC. However, the definition of other cryptocurrencies is less settled.

Crypto regulation in France, as in the U.S., appears to be evolving organically. This approach has the advantage that it is less likely to stifle technological innovation. But it can be confusing. As Carol Goforth, a law professor at the University of Arkansas, told Cointelegraph in August: “Regulatory authority in the U.S. is split among too many diverse agencies, and they all have their missions and their interests to assert.”

Three baskets of digital assets

The Crypto-Currency Act of 2020 — a bill introduced on March 9, 2020 — by U.S. Rep. Paul Gosar (R-AZ), for instance, classifies digital assets into three categories: crypto-commodity, crypto-currency and crypto-security. Under the proposed legislation, these three categories would be governed, respectively, by the CFTC, the Secretary of the Treasury via the Financial Crimes Enforcement Network and the Securities and Exchange Commission.

Related: Hester Peirce Says SEC Is a Partner to Crypto, as US States Chase Regulations

“Interestingly, the language of the bill would seem to cement the status of digital assets like Bitcoin as crypto-commodities rather than crypto-currencies,” reported Cointelegraph. By comparison, stablecoins would probably fall into the currencies basket. 

The U.S. Internal Revenue Service, for its part, considers BTC to be property rather than currency, noted Odell, going back to 2014. In 2020, for the first time, federal tax forms began asking about taxpayers’ Bitcoin and other cryptocurrency activities:

“While this does mention crypto as a ‘virtual currency,’ this does not change Bitcoin’s status to a currency in the eyes of the IRS,” said Odell, adding that it does mean the IRS is starting to regulate crypto — which is good for the crypto industry.

Related: Bitcoin Is Property, Chinese Court Rules — No Crypto Ban Contradiction

Elsewhere, a Chinese court concluded in July 2019 that Bitcoin should be considered digital property — not a currency. Japan, meanwhile, went the other way, recognizing Bitcoin and other cryptos as “money” in 2016. 

A wake-up call? 

In the end, the actual classification of BTC in the Nanterre court case may be less important than the mere fact that it is being classified. “Bitcoin is already considered a financial instrument by many throughout the world,” affirmed Wagster, adding:

“The recognition by the court of a major European economy carries particular weight. The nomenclature the court uses is not important, but the fact that Bitcoin now falls into a category of financial instruments that will likely be monitored and regulated by the French government is significant.”

Additionally, Cred CEO Dan Schatt told Cointelegraph that this ruling could have a deeper meaning behind it in the long run: 

“The fact that an OECD country is recognizing BTC as an ‘interchangeable’ [i.e., fungible] asset is progress — it’s a wake-up call to banks, institutional investors and regulators that Bitcoin is here to stay. Whether it will actually be used as money is less important than the institutional recognition this will bring, which inevitably leads to an inflow of funds for this asset class.”

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The post French Court Moves the BTC Chess Piece — How Will Regulators Respond? appeared first on Coin First.

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[cryptowavesxyz]

French Court Moves the BTC Chess Piece — How Will Regulators Respond?

The Commercial Court of Nanterre’s Feb. 26 ruling that Bitcoin (BTC) is a fungible, intangible asset sent some ripples through the French crypto community, and beyond. This may seem surprising, given that this was a lower court decision and, moreover, one that did not declare BTC a currency or fiat money — as some news stories reported — but just a fungible asset like money. 

The ruling is “an important milestone for further development of the crypto market, particularly in France,” Roman Matkovskyy — associate professor at the Rennes School of Business — told Cointelegraph. 

“The French court’s characterization of Bitcoin as financial instrument could be an important development in the legitimization of the cryptocurrency,” added John Wagster, an attorney at Frost Brown Todd LLC, in a statement to Cointelegraph, “but the real significance of the ruling will be determined by if and how it is incorporated into France’s regulatory regime.” Wagster added that the French court has moved the first chess piece, and it will be interesting to see how the French regulatory authorities respond. 

Christopher Giancarlo, senior counsel at Willkie Farr & Gallagher LLP and former chairman of the United States Commodity Futures Trading Commission, told Cointelegraph that he believes that the ruling will probably have an impact in France and perhaps elsewhere, as in the E.U., adding:

“Broadly, legally speaking, how an asset is legally defined is the starting point for how it will be regulated.” 

Fungible, intangible assets

Hubert de Vauplane, an attorney at Kramer Levin Naftalis & Frankel LLP, told Cointelegraph that because in its decision that the tribunal claimed that Bitcoin is a fungible and intangible asset, “consequently, Bitcoin lending only requires the borrower to repay Bitcoins of the same type, quality and quantity to the lender (absent specific provisions to the contrary in the loan agreement).” 

As a result, any gains or advantages accruing to the borrower during the lifetime of the loan can be retained by the borrower. In this instance, the French judges confirmed that because a hard fork leading to the creation of Bitcoin Cash (BCH) occurred during the period of the loan, the borrower is able to keep the BCH received during this time. 

The matter of fungibility seems arcane, but it goes to the heart of the decision. An asset is fungible if it is interchangeable. A grain of rice or a U.S. dollar can be substituted for each another — whatever their origin is — because they are fungible. By comparison, people or works of art or customized sailboats are not interchangeable because they are non-fungible.

If BTC had been ruled by the tribunal to be non-fungible, “it would be a disaster for the market,” said Vauplane, in particular for any future BTC lending or borrowing activities. It would mean the BTC borrower would have to return to the lender the self-same assortment of BTC — i.e., with the same crypto addresses — which, of course, is absurd. “This decision appears to be applicable to any other fungible cryptocurrency or token,” added Vauplane, concluding that “it’s a lower-court decision, but a quality legal decision.” It can still be overturned — by an appeals court, for instance.

A precedent for crypto? 

Still, in the crypto world, institutional recognition is important, even if comes from a lower-level European commerce court. “This ruling in France should legitimize crypto further and could encourage more adoption and new entrants into crypto even if it does not become law,” Rob Odell, co-president and chief product officer of Salt Lending, told Cointelegraph, adding: 

“France is the 7th largest economy in the world by GDP, so it certainly is likely to influence other markets, especially in the EU, initially. In such a new and emerging market and technology like Bitcoin, regulators around the world do look to how other countries’ regulators are viewing cryptocurrencies. So, any ruling France makes will be closely observed by regulators worldwide.” 

In France, the ruling has created excitement with regard to new business possibilities. According to Matkovskyy, “Bitcoin lending now falls under the ‘consumer loan’ [designation], meaning [it is] a transfer of loaned ownership property to the borrower. […] It will facilitate Bitcoin transactions, including lending and repo — i.e., repurchase agreements — a form of short-term borrowing — transactions.” Matkovskyy went on to add:

“It can potentially create a new competition among the banks and stimulate further development of the Bitcoin market. It is estimated that lending accounts for 80% of total value locked in DeFi. Thus, it can potentially unlock some part of it.”

Regulators wield clout

Not everyone was ready to pronounce this a milestone case, however. “I‘m wondering where the news is in this court decision,” Michael Reuter, co-chairman of the European Blockchain Association, told Cointelegraph: 

“From my perspective, rather than the classification of the unit, the handling of commercial (proprietary) trading of Bitcoin and other coins is of more importance.” 

Back in 2014, Germany’s Federal Financial Supervisory Authority, or BaFin, declared Bitcoin a financial instrument in the form of units of account pursuant to the German Banking Act, explained Reuter. But in early March 2020, BaFin stopped the operations of a Berlin-based company that allowed consumers to buy and sell cryptocurrencies through ATMs. The regulator’s enforcement action was arguably more decisive than any legal definition of BTC.

Regulators may be as important as courts or even legislatures when it comes to determining future permissible crypto activities, said Angela Angelovska-Wilson, co-founder and chief legal officer of Sila transaction network. 

“[The U.S. state of] Wyoming passed a bill in 2019 adding further legal clarification on digital assets and cryptocurrencies to encourage blockchain businesses to set up shop in Wyoming, but this has not yet not had a major impact on US federal regulations,” she told Cointelegraph. “It all depends on the importance that a regulatory agency gives to a court ruling.” 

But that doesn’t necessarily mean the Nanterre ruling is inconsequential. “What the French court ruling might do is pave the way for more clear and transparent investment rules concerning Bitcoin itself,” suggested Wagster.

Less impact in the U.S.?

In the U.S., the legal definition of BTC has basically been settled, Giancarlo told Cointelegraph. Since 2015, the CFTC has recognized digital currencies as commodities, and the legal definition of Bitcoin as a commodity has been supported in the courts. So, the Nanterre court ruling is probably “not so important in the U.S.” at least with regard to BTC. However, the definition of other cryptocurrencies is less settled.

Crypto regulation in France, as in the U.S., appears to be evolving organically. This approach has the advantage that it is less likely to stifle technological innovation. But it can be confusing. As Carol Goforth, a law professor at the University of Arkansas, told Cointelegraph in August: “Regulatory authority in the U.S. is split among too many diverse agencies, and they all have their missions and their interests to assert.”

Three baskets of digital assets

The Crypto-Currency Act of 2020 — a bill introduced on March 9, 2020 — by U.S. Rep. Paul Gosar (R-AZ), for instance, classifies digital assets into three categories: crypto-commodity, crypto-currency and crypto-security. Under the proposed legislation, these three categories would be governed, respectively, by the CFTC, the Secretary of the Treasury via the Financial Crimes Enforcement Network and the Securities and Exchange Commission.

Related: Hester Peirce Says SEC Is a Partner to Crypto, as US States Chase Regulations

“Interestingly, the language of the bill would seem to cement the status of digital assets like Bitcoin as crypto-commodities rather than crypto-currencies,” reported Cointelegraph. By comparison, stablecoins would probably fall into the currencies basket. 

The U.S. Internal Revenue Service, for its part, considers BTC to be property rather than currency, noted Odell, going back to 2014. In 2020, for the first time, federal tax forms began asking about taxpayers’ Bitcoin and other cryptocurrency activities:

“While this does mention crypto as a ‘virtual currency,’ this does not change Bitcoin’s status to a currency in the eyes of the IRS,” said Odell, adding that it does mean the IRS is starting to regulate crypto — which is good for the crypto industry.

Related: Bitcoin Is Property, Chinese Court Rules — No Crypto Ban Contradiction

Elsewhere, a Chinese court concluded in July 2019 that Bitcoin should be considered digital property — not a currency. Japan, meanwhile, went the other way, recognizing Bitcoin and other cryptos as “money” in 2016. 

A wake-up call? 

In the end, the actual classification of BTC in the Nanterre court case may be less important than the mere fact that it is being classified. “Bitcoin is already considered a financial instrument by many throughout the world,” affirmed Wagster, adding:

“The recognition by the court of a major European economy carries particular weight. The nomenclature the court uses is not important, but the fact that Bitcoin now falls into a category of financial instruments that will likely be monitored and regulated by the French government is significant.”

Additionally, Cred CEO Dan Schatt told Cointelegraph that this ruling could have a deeper meaning behind it in the long run: 

“The fact that an OECD country is recognizing BTC as an ‘interchangeable’ [i.e., fungible] asset is progress — it’s a wake-up call to banks, institutional investors and regulators that Bitcoin is here to stay. Whether it will actually be used as money is less important than the institutional recognition this will bring, which inevitably leads to an inflow of funds for this asset class.”

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[coinretreat]

French Court Moves the BTC Chess Piece — How Will Regulators Respond?

The Commercial Court of Nanterre’s Feb. 26 ruling that Bitcoin (BTC) is a fungible, intangible asset sent some ripples through the French crypto community, and beyond. This may seem surprising, given that this was a lower court decision and, moreover, one that did not declare BTC a currency or fiat money — as some news stories reported — but just a fungible asset like money. 

The ruling is “an important milestone for further development of the crypto market, particularly in France,” Roman Matkovskyy — associate professor at the Rennes School of Business — told Cointelegraph. 

“The French court’s characterization of Bitcoin as financial instrument could be an important development in the legitimization of the cryptocurrency,” added John Wagster, an attorney at Frost Brown Todd LLC, in a statement to Cointelegraph, “but the real significance of the ruling will be determined by if and how it is incorporated into France’s regulatory regime.” Wagster added that the French court has moved the first chess piece, and it will be interesting to see how the French regulatory authorities respond. 

Christopher Giancarlo, senior counsel at Willkie Farr & Gallagher LLP and former chairman of the United States Commodity Futures Trading Commission, told Cointelegraph that he believes that the ruling will probably have an impact in France and perhaps elsewhere, as in the E.U., adding:

“Broadly, legally speaking, how an asset is legally defined is the starting point for how it will be regulated.” 

Fungible, intangible assets

Hubert de Vauplane, an attorney at Kramer Levin Naftalis & Frankel LLP, told Cointelegraph that because in its decision that the tribunal claimed that Bitcoin is a fungible and intangible asset, “consequently, Bitcoin lending only requires the borrower to repay Bitcoins of the same type, quality and quantity to the lender (absent specific provisions to the contrary in the loan agreement).” 

As a result, any gains or advantages accruing to the borrower during the lifetime of the loan can be retained by the borrower. In this instance, the French judges confirmed that because a hard fork leading to the creation of Bitcoin Cash (BCH) occurred during the period of the loan, the borrower is able to keep the BCH received during this time. 

The matter of fungibility seems arcane, but it goes to the heart of the decision. An asset is fungible if it is interchangeable. A grain of rice or a U.S. dollar can be substituted for each another — whatever their origin is — because they are fungible. By comparison, people or works of art or customized sailboats are not interchangeable because they are non-fungible.

If BTC had been ruled by the tribunal to be non-fungible, “it would be a disaster for the market,” said Vauplane, in particular for any future BTC lending or borrowing activities. It would mean the BTC borrower would have to return to the lender the self-same assortment of BTC — i.e., with the same crypto addresses — which, of course, is absurd. “This decision appears to be applicable to any other fungible cryptocurrency or token,” added Vauplane, concluding that “it’s a lower-court decision, but a quality legal decision.” It can still be overturned — by an appeals court, for instance.

A precedent for crypto? 

Still, in the crypto world, institutional recognition is important, even if comes from a lower-level European commerce court. “This ruling in France should legitimize crypto further and could encourage more adoption and new entrants into crypto even if it does not become law,” Rob Odell, co-president and chief product officer of Salt Lending, told Cointelegraph, adding: 

“France is the 7th largest economy in the world by GDP, so it certainly is likely to influence other markets, especially in the EU, initially. In such a new and emerging market and technology like Bitcoin, regulators around the world do look to how other countries’ regulators are viewing cryptocurrencies. So, any ruling France makes will be closely observed by regulators worldwide.” 

In France, the ruling has created excitement with regard to new business possibilities. According to Matkovskyy, “Bitcoin lending now falls under the ‘consumer loan’ [designation], meaning [it is] a transfer of loaned ownership property to the borrower. […] It will facilitate Bitcoin transactions, including lending and repo — i.e., repurchase agreements — a form of short-term borrowing — transactions.” Matkovskyy went on to add:

“It can potentially create a new competition among the banks and stimulate further development of the Bitcoin market. It is estimated that lending accounts for 80% of total value locked in DeFi. Thus, it can potentially unlock some part of it.”

Regulators wield clout

Not everyone was ready to pronounce this a milestone case, however. “I‘m wondering where the news is in this court decision,” Michael Reuter, co-chairman of the European Blockchain Association, told Cointelegraph: 

“From my perspective, rather than the classification of the unit, the handling of commercial (proprietary) trading of Bitcoin and other coins is of more importance.” 

Back in 2014, Germany’s Federal Financial Supervisory Authority, or BaFin, declared Bitcoin a financial instrument in the form of units of account pursuant to the German Banking Act, explained Reuter. But in early March 2020, BaFin stopped the operations of a Berlin-based company that allowed consumers to buy and sell cryptocurrencies through ATMs. The regulator’s enforcement action was arguably more decisive than any legal definition of BTC.

Regulators may be as important as courts or even legislatures when it comes to determining future permissible crypto activities, said Angela Angelovska-Wilson, co-founder and chief legal officer of Sila transaction network. 

“[The U.S. state of] Wyoming passed a bill in 2019 adding further legal clarification on digital assets and cryptocurrencies to encourage blockchain businesses to set up shop in Wyoming, but this has not yet not had a major impact on US federal regulations,” she told Cointelegraph. “It all depends on the importance that a regulatory agency gives to a court ruling.” 

But that doesn’t necessarily mean the Nanterre ruling is inconsequential. “What the French court ruling might do is pave the way for more clear and transparent investment rules concerning Bitcoin itself,” suggested Wagster.

Less impact in the U.S.?

In the U.S., the legal definition of BTC has basically been settled, Giancarlo told Cointelegraph. Since 2015, the CFTC has recognized digital currencies as commodities, and the legal definition of Bitcoin as a commodity has been supported in the courts. So, the Nanterre court ruling is probably “not so important in the U.S.” at least with regard to BTC. However, the definition of other cryptocurrencies is less settled.

Crypto regulation in France, as in the U.S., appears to be evolving organically. This approach has the advantage that it is less likely to stifle technological innovation. But it can be confusing. As Carol Goforth, a law professor at the University of Arkansas, told Cointelegraph in August: “Regulatory authority in the U.S. is split among too many diverse agencies, and they all have their missions and their interests to assert.”

Three baskets of digital assets

The Crypto-Currency Act of 2020 — a bill introduced on March 9, 2020 — by U.S. Rep. Paul Gosar (R-AZ), for instance, classifies digital assets into three categories: crypto-commodity, crypto-currency and crypto-security. Under the proposed legislation, these three categories would be governed, respectively, by the CFTC, the Secretary of the Treasury via the Financial Crimes Enforcement Network and the Securities and Exchange Commission.

Related: Hester Peirce Says SEC Is a Partner to Crypto, as US States Chase Regulations

“Interestingly, the language of the bill would seem to cement the status of digital assets like Bitcoin as crypto-commodities rather than crypto-currencies,” reported Cointelegraph. By comparison, stablecoins would probably fall into the currencies basket. 

The U.S. Internal Revenue Service, for its part, considers BTC to be property rather than currency, noted Odell, going back to 2014. In 2020, for the first time, federal tax forms began asking about taxpayers’ Bitcoin and other cryptocurrency activities:

“While this does mention crypto as a ‘virtual currency,’ this does not change Bitcoin’s status to a currency in the eyes of the IRS,” said Odell, adding that it does mean the IRS is starting to regulate crypto — which is good for the crypto industry.

Related: Bitcoin Is Property, Chinese Court Rules — No Crypto Ban Contradiction

Elsewhere, a Chinese court concluded in July 2019 that Bitcoin should be considered digital property — not a currency. Japan, meanwhile, went the other way, recognizing Bitcoin and other cryptos as “money” in 2016. 

A wake-up call? 

In the end, the actual classification of BTC in the Nanterre court case may be less important than the mere fact that it is being classified. “Bitcoin is already considered a financial instrument by many throughout the world,” affirmed Wagster, adding:

“The recognition by the court of a major European economy carries particular weight. The nomenclature the court uses is not important, but the fact that Bitcoin now falls into a category of financial instruments that will likely be monitored and regulated by the French government is significant.”

Additionally, Cred CEO Dan Schatt told Cointelegraph that this ruling could have a deeper meaning behind it in the long run: 

“The fact that an OECD country is recognizing BTC as an ‘interchangeable’ [i.e., fungible] asset is progress — it’s a wake-up call to banks, institutional investors and regulators that Bitcoin is here to stay. Whether it will actually be used as money is less important than the institutional recognition this will bring, which inevitably leads to an inflow of funds for this asset class.”

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The post French Court Moves the BTC Chess Piece — How Will Regulators Respond? appeared first on CoinRetreat.

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[noisyunknownturtle]

French Court Moves the BTC Chess Piece — How Will Regulators Respond?

The Commercial Court of Nanterre’s Feb. 26 ruling that Bitcoin (BTC) is a fungible, intangible asset sent some ripples through the French crypto community, and beyond. This may seem surprising, given that this was a lower court decision and, moreover, one that did not declare BTC a currency or fiat money — as some news stories reported — but just a fungible asset like money. 

The ruling is “an important milestone for further development of the crypto market, particularly in France,” Roman Matkovskyy — associate professor at the Rennes School of Business — told Cointelegraph. 

“The French court’s characterization of Bitcoin as financial instrument could be an important development in the legitimization of the cryptocurrency,” added John Wagster, an attorney at Frost Brown Todd LLC, in a statement to Cointelegraph, “but the real significance of the ruling will be determined by if and how it is incorporated into France’s regulatory regime.” Wagster added that the French court has moved the first chess piece, and it will be interesting to see how the French regulatory authorities respond. 

Christopher Giancarlo, senior counsel at Willkie Farr & Gallagher LLP and former chairman of the United States Commodity Futures Trading Commission, told Cointelegraph that he believes that the ruling will probably have an impact in France and perhaps elsewhere, as in the E.U., adding:

“Broadly, legally speaking, how an asset is legally defined is the starting point for how it will be regulated.” 

Fungible, intangible assets

Hubert de Vauplane, an attorney at Kramer Levin Naftalis & Frankel LLP, told Cointelegraph that because in its decision that the tribunal claimed that Bitcoin is a fungible and intangible asset, “consequently, Bitcoin lending only requires the borrower to repay Bitcoins of the same type, quality and quantity to the lender (absent specific provisions to the contrary in the loan agreement).” 

As a result, any gains or advantages accruing to the borrower during the lifetime of the loan can be retained by the borrower. In this instance, the French judges confirmed that because a hard fork leading to the creation of Bitcoin Cash (BCH) occurred during the period of the loan, the borrower is able to keep the BCH received during this time. 

The matter of fungibility seems arcane, but it goes to the heart of the decision. An asset is fungible if it is interchangeable. A grain of rice or a U.S. dollar can be substituted for each another — whatever their origin is — because they are fungible. By comparison, people or works of art or customized sailboats are not interchangeable because they are non-fungible.

If BTC had been ruled by the tribunal to be non-fungible, “it would be a disaster for the market,” said Vauplane, in particular for any future BTC lending or borrowing activities. It would mean the BTC borrower would have to return to the lender the self-same assortment of BTC — i.e., with the same crypto addresses — which, of course, is absurd. “This decision appears to be applicable to any other fungible cryptocurrency or token,” added Vauplane, concluding that “it’s a lower-court decision, but a quality legal decision.” It can still be overturned — by an appeals court, for instance.

A precedent for crypto? 

Still, in the crypto world, institutional recognition is important, even if comes from a lower-level European commerce court. “This ruling in France should legitimize crypto further and could encourage more adoption and new entrants into crypto even if it does not become law,” Rob Odell, co-president and chief product officer of Salt Lending, told Cointelegraph, adding: 

“France is the 7th largest economy in the world by GDP, so it certainly is likely to influence other markets, especially in the EU, initially. In such a new and emerging market and technology like Bitcoin, regulators around the world do look to how other countries’ regulators are viewing cryptocurrencies. So, any ruling France makes will be closely observed by regulators worldwide.” 

In France, the ruling has created excitement with regard to new business possibilities. According to Matkovskyy, “Bitcoin lending now falls under the ‘consumer loan’ [designation], meaning [it is] a transfer of loaned ownership property to the borrower. […] It will facilitate Bitcoin transactions, including lending and repo — i.e., repurchase agreements — a form of short-term borrowing — transactions.” Matkovskyy went on to add:

“It can potentially create a new competition among the banks and stimulate further development of the Bitcoin market. It is estimated that lending accounts for 80% of total value locked in DeFi. Thus, it can potentially unlock some part of it.”

Regulators wield clout

Not everyone was ready to pronounce this a milestone case, however. “I‘m wondering where the news is in this court decision,” Michael Reuter, co-chairman of the European Blockchain Association, told Cointelegraph: 

“From my perspective, rather than the classification of the unit, the handling of commercial (proprietary) trading of Bitcoin and other coins is of more importance.” 

Back in 2014, Germany’s Federal Financial Supervisory Authority, or BaFin, declared Bitcoin a financial instrument in the form of units of account pursuant to the German Banking Act, explained Reuter. But in early March 2020, BaFin stopped the operations of a Berlin-based company that allowed consumers to buy and sell cryptocurrencies through ATMs. The regulator’s enforcement action was arguably more decisive than any legal definition of BTC.

Regulators may be as important as courts or even legislatures when it comes to determining future permissible crypto activities, said Angela Angelovska-Wilson, co-founder and chief legal officer of Sila transaction network. 

“[The U.S. state of] Wyoming passed a bill in 2019 adding further legal clarification on digital assets and cryptocurrencies to encourage blockchain businesses to set up shop in Wyoming, but this has not yet not had a major impact on US federal regulations,” she told Cointelegraph. “It all depends on the importance that a regulatory agency gives to a court ruling.” 

But that doesn’t necessarily mean the Nanterre ruling is inconsequential. “What the French court ruling might do is pave the way for more clear and transparent investment rules concerning Bitcoin itself,” suggested Wagster.

Less impact in the U.S.?

In the U.S., the legal definition of BTC has basically been settled, Giancarlo told Cointelegraph. Since 2015, the CFTC has recognized digital currencies as commodities, and the legal definition of Bitcoin as a commodity has been supported in the courts. So, the Nanterre court ruling is probably “not so important in the U.S.” at least with regard to BTC. However, the definition of other cryptocurrencies is less settled.

Crypto regulation in France, as in the U.S., appears to be evolving organically. This approach has the advantage that it is less likely to stifle technological innovation. But it can be confusing. As Carol Goforth, a law professor at the University of Arkansas, told Cointelegraph in August: “Regulatory authority in the U.S. is split among too many diverse agencies, and they all have their missions and their interests to assert.”

Three baskets of digital assets

The Crypto-Currency Act of 2020 — a bill introduced on March 9, 2020 — by U.S. Rep. Paul Gosar (R-AZ), for instance, classifies digital assets into three categories: crypto-commodity, crypto-currency and crypto-security. Under the proposed legislation, these three categories would be governed, respectively, by the CFTC, the Secretary of the Treasury via the Financial Crimes Enforcement Network and the Securities and Exchange Commission.

Related: Hester Peirce Says SEC Is a Partner to Crypto, as US States Chase Regulations

“Interestingly, the language of the bill would seem to cement the status of digital assets like Bitcoin as crypto-commodities rather than crypto-currencies,” reported Cointelegraph. By comparison, stablecoins would probably fall into the currencies basket. 

The U.S. Internal Revenue Service, for its part, considers BTC to be property rather than currency, noted Odell, going back to 2014. In 2020, for the first time, federal tax forms began asking about taxpayers’ Bitcoin and other cryptocurrency activities:

“While this does mention crypto as a ‘virtual currency,’ this does not change Bitcoin’s status to a currency in the eyes of the IRS,” said Odell, adding that it does mean the IRS is starting to regulate crypto — which is good for the crypto industry.

Related: Bitcoin Is Property, Chinese Court Rules — No Crypto Ban Contradiction

Elsewhere, a Chinese court concluded in July 2019 that Bitcoin should be considered digital property — not a currency. Japan, meanwhile, went the other way, recognizing Bitcoin and other cryptos as “money” in 2016. 

A wake-up call? 

In the end, the actual classification of BTC in the Nanterre court case may be less important than the mere fact that it is being classified. “Bitcoin is already considered a financial instrument by many throughout the world,” affirmed Wagster, adding:

“The recognition by the court of a major European economy carries particular weight. The nomenclature the court uses is not important, but the fact that Bitcoin now falls into a category of financial instruments that will likely be monitored and regulated by the French government is significant.”

Additionally, Cred CEO Dan Schatt told Cointelegraph that this ruling could have a deeper meaning behind it in the long run: 

“The fact that an OECD country is recognizing BTC as an ‘interchangeable’ [i.e., fungible] asset is progress — it’s a wake-up call to banks, institutional investors and regulators that Bitcoin is here to stay. Whether it will actually be used as money is less important than the institutional recognition this will bring, which inevitably leads to an inflow of funds for this asset class.”

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[preciousmetals0]

French Court Moves the BTC Chess Piece — How Will Regulators Respond?

French Court Moves the BTC Chess Piece — How Will Regulators Respond?:

The Commercial Court of Nanterre’s Feb. 26 ruling that Bitcoin (BTC) is a fungible, intangible asset sent some ripples through the French crypto community, and beyond. This may seem surprising, given that this was a lower court decision and, moreover, one that did not declare BTC a currency or fiat money — as some news stories reported — but just a fungible asset like money. 

The ruling is “an important milestone for further development of the crypto market, particularly in France,” Roman Matkovskyy — associate professor at the Rennes School of Business — told Cointelegraph. 

“The French court’s characterization of Bitcoin as financial instrument could be an important development in the legitimization of the cryptocurrency,” added John Wagster, an attorney at Frost Brown Todd LLC, in a statement to Cointelegraph, “but the real significance of the ruling will be determined by if and how it is incorporated into France’s regulatory regime.” Wagster added that the French court has moved the first chess piece, and it will be interesting to see how the French regulatory authorities respond. 

Christopher Giancarlo, senior counsel at Willkie Farr & Gallagher LLP and former chairman of the United States Commodity Futures Trading Commission, told Cointelegraph that he believes that the ruling will probably have an impact in France and perhaps elsewhere, as in the E.U., adding:

“Broadly, legally speaking, how an asset is legally defined is the starting point for how it will be regulated.” 

Fungible, intangible assets

Hubert de Vauplane, an attorney at Kramer Levin Naftalis & Frankel LLP, told Cointelegraph that because in its decision that the tribunal claimed that Bitcoin is a fungible and intangible asset, “consequently, Bitcoin lending only requires the borrower to repay Bitcoins of the same type, quality and quantity to the lender (absent specific provisions to the contrary in the loan agreement).” 

As a result, any gains or advantages accruing to the borrower during the lifetime of the loan can be retained by the borrower. In this instance, the French judges confirmed that because a hard fork leading to the creation of Bitcoin Cash (BCH) occurred during the period of the loan, the borrower is able to keep the BCH received during this time. 

The matter of fungibility seems arcane, but it goes to the heart of the decision. An asset is fungible if it is interchangeable. A grain of rice or a U.S. dollar can be substituted for each another — whatever their origin is — because they are fungible. By comparison, people or works of art or customized sailboats are not interchangeable because they are non-fungible.

If BTC had been ruled by the tribunal to be non-fungible, “it would be a disaster for the market,” said Vauplane, in particular for any future BTC lending or borrowing activities. It would mean the BTC borrower would have to return to the lender the self-same assortment of BTC — i.e., with the same crypto addresses — which, of course, is absurd. “This decision appears to be applicable to any other fungible cryptocurrency or token,” added Vauplane, concluding that “it’s a lower-court decision, but a quality legal decision.” It can still be overturned — by an appeals court, for instance.

A precedent for crypto? 

Still, in the crypto world, institutional recognition is important, even if comes from a lower-level European commerce court. “This ruling in France should legitimize crypto further and could encourage more adoption and new entrants into crypto even if it does not become law,” Rob Odell, co-president and chief product officer of Salt Lending, told Cointelegraph, adding: 

“France is the 7th largest economy in the world by GDP, so it certainly is likely to influence other markets, especially in the EU, initially. In such a new and emerging market and technology like Bitcoin, regulators around the world do look to how other countries’ regulators are viewing cryptocurrencies. So, any ruling France makes will be closely observed by regulators worldwide.” 

In France, the ruling has created excitement with regard to new business possibilities. According to Matkovskyy, “Bitcoin lending now falls under the ‘consumer loan’ [designation], meaning [it is] a transfer of loaned ownership property to the borrower. […] It will facilitate Bitcoin transactions, including lending and repo — i.e., repurchase agreements — a form of short-term borrowing — transactions.” Matkovskyy went on to add:

“It can potentially create a new competition among the banks and stimulate further development of the Bitcoin market. It is estimated that lending accounts for 80% of total value locked in DeFi. Thus, it can potentially unlock some part of it.”

Regulators wield clout

Not everyone was ready to pronounce this a milestone case, however. “I‘m wondering where the news is in this court decision,” Michael Reuter, co-chairman of the European Blockchain Association, told Cointelegraph: 

“From my perspective, rather than the classification of the unit, the handling of commercial (proprietary) trading of Bitcoin and other coins is of more importance.” 

Back in 2014, Germany’s Federal Financial Supervisory Authority, or BaFin, declared Bitcoin a financial instrument in the form of units of account pursuant to the German Banking Act, explained Reuter. But in early March 2020, BaFin stopped the operations of a Berlin-based company that allowed consumers to buy and sell cryptocurrencies through ATMs. The regulator’s enforcement action was arguably more decisive than any legal definition of BTC.

Regulators may be as important as courts or even legislatures when it comes to determining future permissible crypto activities, said Angela Angelovska-Wilson, co-founder and chief legal officer of Sila transaction network. 

“[The U.S. state of] Wyoming passed a bill in 2019 adding further legal clarification on digital assets and cryptocurrencies to encourage blockchain businesses to set up shop in Wyoming, but this has not yet not had a major impact on US federal regulations,” she told Cointelegraph. “It all depends on the importance that a regulatory agency gives to a court ruling.” 

But that doesn’t necessarily mean the Nanterre ruling is inconsequential. “What the French court ruling might do is pave the way for more clear and transparent investment rules concerning Bitcoin itself,” suggested Wagster.

Less impact in the U.S.?

In the U.S., the legal definition of BTC has basically been settled, Giancarlo told Cointelegraph. Since 2015, the CFTC has recognized digital currencies as commodities, and the legal definition of Bitcoin as a commodity has been supported in the courts. So, the Nanterre court ruling is probably “not so important in the U.S.” at least with regard to BTC. However, the definition of other cryptocurrencies is less settled.

Crypto regulation in France, as in the U.S., appears to be evolving organically. This approach has the advantage that it is less likely to stifle technological innovation. But it can be confusing. As Carol Goforth, a law professor at the University of Arkansas, told Cointelegraph in August: “Regulatory authority in the U.S. is split among too many diverse agencies, and they all have their missions and their interests to assert.”

Three baskets of digital assets

The Crypto-Currency Act of 2020 — a bill introduced on March 9, 2020 — by U.S. Rep. Paul Gosar (R-AZ), for instance, classifies digital assets into three categories: crypto-commodity, crypto-currency and crypto-security. Under the proposed legislation, these three categories would be governed, respectively, by the CFTC, the Secretary of the Treasury via the Financial Crimes Enforcement Network and the Securities and Exchange Commission.

Related: Hester Peirce Says SEC Is a Partner to Crypto, as US States Chase Regulations

“Interestingly, the language of the bill would seem to cement the status of digital assets like Bitcoin as crypto-commodities rather than crypto-currencies,” reported Cointelegraph. By comparison, stablecoins would probably fall into the currencies basket. 

The U.S. Internal Revenue Service, for its part, considers BTC to be property rather than currency, noted Odell, going back to 2014. In 2020, for the first time, federal tax forms began asking about taxpayers’ Bitcoin and other cryptocurrency activities:

“While this does mention crypto as a ‘virtual currency,’ this does not change Bitcoin’s status to a currency in the eyes of the IRS,” said Odell, adding that it does mean the IRS is starting to regulate crypto — which is good for the crypto industry.

Related: Bitcoin Is Property, Chinese Court Rules — No Crypto Ban Contradiction

Elsewhere, a Chinese court concluded in July 2019 that Bitcoin should be considered digital property — not a currency. Japan, meanwhile, went the other way, recognizing Bitcoin and other cryptos as “money” in 2016. 

A wake-up call? 

In the end, the actual classification of BTC in the Nanterre court case may be less important than the mere fact that it is being classified. “Bitcoin is already considered a financial instrument by many throughout the world,” affirmed Wagster, adding:

“The recognition by the court of a major European economy carries particular weight. The nomenclature the court uses is not important, but the fact that Bitcoin now falls into a category of financial instruments that will likely be monitored and regulated by the French government is significant.”

Additionally, Cred CEO Dan Schatt told Cointelegraph that this ruling could have a deeper meaning behind it in the long run: 

“The fact that an OECD country is recognizing BTC as an ‘interchangeable’ [i.e., fungible] asset is progress — it’s a wake-up call to banks, institutional investors and regulators that Bitcoin is here to stay. Whether it will actually be used as money is less important than the institutional recognition this will bring, which inevitably leads to an inflow of funds for this asset class.”

[harrythegreekblr]

Strzok running ops in the Hilton?

Nigel Glennie, Hilton VP of Communications and Crisis Management (above)

Peter Strzok’s former boss, John Giacalone (jack a LOAN), manages CIA operations in Hilton locations worldwide.

Giacalone was hand-picked by its Board of Directors.

When John retired Feb. 28th, 2016 to work for Hilton, Giacalone was the third highest ranking official in the FBI/CIA.

https://brassballs.blog/home/strzok-worked-for-cia-and-fbi-at-the-same-time-in-counterespionage

What happened to Strzok?

Is he working at the Hilton for his old boss as a contractor for the CIA?

Peter Strzok

https://dougcollins.house.gov/sites/dougcollins.house.gov/files/6.21.18%20Giacalone%20Interview_Redacted.pdf

John Giacalone, Hilton Worldwide

One of Giacalone’s best friends is Brian McCauley.

McCauley worked two jobs at the same time.

At the FBI, he was Deputy Assistant Director International Operations.

At the CIA, he was a Director of Operations, Science, and Technology.

https://www.cia.gov/library/center-for-the-study-of-intelligence/csi-publications/csi-studies/studies/vol-60-no-4/index.html

Brian was the right-hand-man to John Brennan, former Director of the CIA.

McCauley testified at the Bijan Kian Rafiekian/Michael Flynn trial last month.

Brian lied to the court when he said he worked for the FBI.

He left out the CIA part.

McCauley works as a contractor, a non-employee, for the CIA.

He is a double-dipper.

He collects two checks.

One is a retirement check from the federal government.

The other is a check from the CIA as a contractor.

Brian McCauley

https://www.cia.gov/library/center-for-the-study-of-intelligence/csi-publications/csi-studies/studies/vol-60-no-4/index.html

Giacalone worked with Mike Flynn and Peter Strzok in Baghdad in 2005.

In 2005, as the deputy on-scene-commander in the Iraqi theater of operations, Mr. Giacalone coordinated the efforts of the FBI, the intelligence community, and the U.S. military, which resulted in the rescue of kidnapping victim Roy Hallums.

https://www.ohio-register.com/3865180-manbro-r-e-v-llc

John met Bijan Kian Rafiekian at the Naval War College in 2006.

At the time, Kian was a Director and Giacalone was a graduate student.

Mike Flynn (left) and Bijan Kiani Rafiekian (above)

Giacalone was Executive Assistant Director (EAD) for the CIA/FBI in charge global operations for:

counterrorism

counterintelligence

weapons of mass destruction

He ran a Joint Terrorism Task Force out of New York City for two years.

Giacalone managed 500 plus federal agents, NYC detectives, and CIA analysts.

https://dougcollins.house.gov/sites/dougcollins.house.gov/files/6.21.18%20Giacalone%20Interview_Redacted.pdf

The CIA uses rooms in the Hilton as “recording studios” to capture audio and video.

Is surveillance on hotel property limited to threats of national security?

Or is everything on Hilton property recorded for future use?

Where are the backup videos stored?

Who is paying for it?

Customers or taxpayers?

Nigel Glennie is Hilton Worldwide’s VP of Communications and Crisis Management.

He refused to confirm Jack a LOAN’s (Giacalone) hire date of March 1st, 2016.

Glennie responded 17 minutes after the information request, never answering it.

Glennie is responsible to Hilton’s management and stockholders.

He has no duty to respond to anyone else.

Hilton’s Board of Directors include:

John Schreiber, founder of Blackstone Real Estate Advisors

Judith McHale, former Under Secretary to the Secretary of State

Raymond Mabus, former Secretary of the Navy and former Ambassador to Saudi Arabia

Jonathan Gray, President and Chief Operating Officer of Blackstone Group Management LLC

Some say Blackstone is Blackwater, a former group of private assassins.

Some say Blackstone never had any connection to Blackwater.

Where is the headquarters for the CIA?

McClean, Virginia.

Hilton suites are a mile and a half away from CIA headquarters.

https://www.expedia.com/CIA-Headquarters-Hotels.0-l6283768-0.Travel-Guide-Filter-Hotels

https://corporateofficeheadquarters.org/cia/

Besides the Hilton and its Board of Directors, others who want to have the John Giacalone matter covered up are:

Former Special Prosecutor Robert Mueller.

He hired and promoted Giacalone.

Former FBI Director James Comey.

He promoted Giacalone.

Former CIA Director John Brennan.

Both Peter Strzok and John Giacalone worked for Brennan.

https://brassballs.blog/home/strzok-worked-for-cia-and-fbi-at-the-same-time-in-counterespionage

According to his testimony before Congress dated June 21st, 2018, Giacalone (jack a LOAN) said he had:

top security clearance for five years (page ten) that was renewable

Green Badge status allowing him to come and go from FBI offices anytime he pleased (page nine)

https://dougcollins.house.gov/sites/dougcollins.house.gov/files/6.21.18%20Giacalone%20Interview_Redacted.pdf

https://archives.fbi.gov/archives/news/pressrel/press-releases/john-giacalone-named-special-agent-in-charge-of-the-new-york-field-office-counterterrorism-division

https://archives.fbi.gov/archives/news/pressrel/press-releases/john-giacalone-named-assistant-director-of-counterterrorism-division

John (Jack) Lowell Hilton Jr. owned a thousand shares of Flynn Intel stock.

Source is Rob Kelner, former attorney for Flynn Intel Group.

Kelner filled out this public filing.

“Darkshore LLC” is John L. Hilton Jr.

Jack is fluent in Chinese and Italian.

How did he end up with immunity?

How did he end up incorporating a business from an Akron, Ohio Hilton Inn business address?

Jeff Peterson partner with Jack in Peterhill Games LLC.

https://www.scribd.com/document/415081758/Jack-Lowell-Hilton-incorporates-Peterhill-Games-LLC-in-Ohio-three-pages-April-13th-2016

https://www.scribd.com/document/415081758/Jack-Lowell-Hilton-incorporates-Peterhill-Games-LLC-in-Ohio-three-pages-April-13th-2016

https://www.scribd.com/document/415080807/Registration-in-Ohio-of-Darkshore-LLC-Akron-OH-Jack-L-Hilton-Two-Pages-Sept-28th-2015

https://www.scribd.com/document/415080807/Registration-in-Ohio-of-Darkshore-LLC-Akron-OH-Jack-L-Hilton-Two-Pages-Sept-28th-2015

http://www.contactmusic.net/nicky-hilton/news/nicky-hilton-sues-over-hotel_1013752

Nicky Hilton’s proposed venture to set up her own brand of hotels never seemed to get off the ground.

It was interrupted by a:

divorce

childbirth

marriage to a Rothschild

https://en.wikipedia.org/wiki/Nicky_Hilton_Rothschild

Unable to confirm whether former FBI Director Robert Swan Mueller set up a similar program at the Marriott.

[lancecarr]

Review: R؄E Procaster dynamic cardioid studio microphone with WS2

This is my review of the US$229 RØDE Procaster dynamic cardioid studio microphone, which RØDE sent to me together with the RØDECaster Pro. Because there has been so much to cover with the multifaceted RØDECaster Pro mixer/recorder (as indicated in my prior articles), I am only now getting to reviewing the Procaster microphone itself with the WS2 windscreen. However, all of the in-studio recordings I have made for the past few episodes of my BeyondPodcasting and CapicúaFM shows have been done with the Procaster for my voice (not for the remote guests). Ahead you’ll find more information, photos, comments and a recording.

About the WS2 windscreen and why I used it

The RØDE Procaster microphone (Amazon — B&H) is best used with a WS2 windscreen (shown above) to avoid plosives (i.e. pops). I base this assertion based upon other Procaster reviews I have heard, and my initial use of the Procaster in BeyondPodcasting episode 12. That day, I was very anxious to record the first coverage about the RØDECaster Pro together with Memo Sauceda and Rafael Pereira, so I recorded that particular episode with the Procaster microphone without the WS2 (which hadn’t arrived yet). I was as careful as possible to address the Procaster at a 45-degree angle, but still got some plosives which I later reduced using RX 6 software.

The only exception I have ever discovered to this rule was the legendary Australian radio presenter, television personality, disc jockey and voice-over artist Ken Sparkes (1940-2016, may he rest in peace). In the above video, he managed to do what no one else I know has been able (make a popless recording from the naked Procaster), including all of the countless Procaster reviews I have watched and heard in two different languages so far.

It’s always best to prevent plosives before they even hit the microphone, both to save time in post and to cover situations when need you to broadcast live on online radio, online TV, Hangouts, Skype, Zoom or a webinar.

I also find the Procaster “dressed” with the WS2 (shown above) to be as visually pleasing as a US$399 Shure SM7B with one of its two included windscreens (shown below, Amazon — B&H), at a fraction of the price.

Above, the Shure SM7B with its thicker windscreen installed.

The RØDE Procaster currently costs US$229 (Amazon — B&H) + US$20 for the WS2 windscreen = US$249 total.

I know that some people would prefer to use a dedicated pop filter instead of the WS2 windscreen, which also prevents pops. If that is what you prefer, the best one I’m aware of for the Procaster is the BSW RE320POP (currently US$59 from BSW).

The BSW RE320POP costs almost 3 times the price of the WS2. Both the RE320POP and the RØDE WS2 prevent pops very well. I say that based upon personal experience with the WS2 and reviews I have heard with the RE320POP. Why do I call the RE320POP the “best” among dedicated pop filters for the Procaster microphone? Because among dedicated pop filters, I strongly prefer the type like the BSW RE320POP (or like the one RØDE provides that attaches onto the NT1 or on the NT-USB) which are in a fixed position. I dislike the ones that use a gooseneck which (in my experience) tend to slip away from the desired position after a very short time, causing either stress for the operator (to readjust it constantly) or lack of effectiveness. Those pop filters that use a gooseneck also have a tendency to block the face of the person speaking and prevent her/him from seeing an interviewee clearly. I recognize that there may be a very slight loss of high frequencies with some windscreens, but if there is, I can’t really hear the difference and all of the issues covered above issues are infinitely much more important to me.

Practical observations with the Procaster microphone

Output level:

Do to the Procaster’s relatively low output level (-56 dB at 1 kHz), which is typical with most dynamic microphones, you may need a pre-preamplifier like the Simply Sound SS-1 (illustrated above, reviewed here), CloudLifter or FetHead, depending upon the quality and strength of your connected preamp. Fortunately, I find that is not necessary with the preamps in the RØDECaster Pro mixer/recorder (covered in several articles, B&H).

Excellent side rejection:

Several sources, including our friend Ray Ortega, have stated that the RØDE Procaster mic is better at side rejection than the Shure SM7B (even though the both are rated as having a standard cardioid pickup pattern). Notwithstanding, Ray prefers the SM7B for other reasons, as he states in this episode of his Podcasters’ Studio and its episode notes. While we’re comparing these two microphones, I will mention that the dynamic Shure SM7B is rated as having an output level of -59 db, with is 3dB lower than the RØDE Procaster. The SM7B is also a favorite of our friend Bandrew of Podcastage, our friend Rob Greenlee (now of Libsyn) and The Jimmy Dore Show (comedy and political commentary). Fortunately, there is no problem combining an SM7B with a Procaster in a single conversation, as Rob Greenlee and I proved in the recent BeyondPodcasting episode 13, when Rob was still working for VoxNext/Spreaker. The Procaster is made in Australia. The SM7B is now made in México, and I have never tried one to date. I was born in the US, but —so far— have made more audio recordings in Castilian than in English.

Weight:

The RØDE Procaster is quite heavy at 745 grams (1.64 pounds), so if you want to use it with a flexible boom as I do, you must be sure that it can handle that much weight. Fortunately, the Heil PL2T boom (Amazon — B&H) I use handles it fine, since it’s rated to support mics weighing up to 1.6 kilograms (3.5 pounds).

Do you need a shockmount with the Procaster? I received the Procaster with its standard clip, which is working fine. Fortunately, I have not had any issues with shock or the need for the optional shockmount. However, if you live where there are frequent tremors or you tend to bang the table excessively, RØDE offers the optional PSM1 shockmount (B&H).

The Procaster sound

https://www.provideocoalition.com/wp-content/uploads/ProCaster-review.wav

Above is my test recording of the Procaster, in addition to the past few episodes of CapicúaFM and BeyondPodcasting, which you’ll find at the end of this article. This is a 48 kHz WAV file, so listen using unmetered bandwidth to save money. Starting at 1:29, I disabled the RØDECaster Pro’s gate, low cut (high pass) filter and noise gate, so you can hear how the microphone sounds by itself.

Even though the reverb is fortunately very low when using the Procaster in my untreated room, below is the same recording after being processed with a mild treatment with the CrumplePop EchoRemover plugin I recently reviewed.

https://www.provideocoalition.com/wp-content/uploads/ProCaster-review-CrumplePop-Remover.wav

Conclusions

In its price range, I am extremely happy with the sound and build quality of the RØDE Procaster microphone (Amazon — B&H) together with the WS2. I also love how it looks physically for a radio/TV studio environment. It should be on your short list if you are looking for high-end dynamic vocal microphones and want the best bang for the buck.

(Re-)Subscribe for upcoming articles, reviews, radio shows, books and seminars/webinars

Stand by for upcoming articles, reviews, and books. Sign up to my free mailing list by clicking here. If you previously subscribed to my bulletins and no longer receive them, you must re-subscribe due to new compliance to GDPR. Most of my current books are at books.AllanTepper.com, and my personal website is AllanTepper.com. Also visit radio.AllanTepper.com.

Si deseas suscribirte (o volver a suscribirte) a mi lista en castellano, visita aquí. Si prefieres, puedes suscribirte a ambas listas (castellano e inglés).

Suscribe to his BeyondPodcasting show at BeyondPodasting.com.

Subscribe to his award-winning CapicúaFM show at CapicúaFM.com.

FTC disclosure

No manufacturer is specifically paying Allan Tépper or TecnoTur LLC to write this article or the mentioned books. Some of the other manufacturers listed above have contracted Tépper and/or TecnoTur LLC to carry out consulting and/or translations/localizations/transcreations. Many of the manufacturers listed above have sent Allan Tépper review units, including RØDE. So far, none of the manufacturers listed above is/are sponsors of the TecnoTur , BeyondPodcasting CapicúaFM or TuRadioGlobalprograms, although they are welcome to do so, and some are, may be (or may have been) sponsors of ProVideo Coalition magazine. Some links to third parties listed in this article and/or on this web page may indirectly benefit TecnoTur LLC via affiliate programs. Allan Tépper’s opinions are his own. Allan Tépper is not liable for misuse or misunderstanding of information he shares.

Copyright and use of this article

The articles contained in the TecnoTur channel in ProVideo Coalitionmagazine are copyright Allan Tépper/TecnoTur LLC, except where otherwise attributed. Unauthorized use is prohibited without prior approval, except for short quotes which link back to this page, which are encouraged!

The post Review: RØDE Procaster dynamic cardioid studio microphone with WS2 appeared first on ProVideo Coalition.

https://www.provideocoalition.com/review-rode-procaster-dynamic-cardioid-studio-microphone-with-ws2/

[captain-unlikelynutbouquet-blog]

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How much is insurance for a honda rebel on a 15 in a half year old boy in missouri?

How much is insurance for a honda rebel on a 15 in a half year old boy in missouri?

How should i select PIP in car insurance...?

Hi.. I am going to take a car insurance and i am not very much clear about PIP. what is the best option to take as there are 4 PIP options given to me I have a health insurance that covers me till 80 % of the expenses. So if i take PIP option in my car insurance will it cover me the rest of the 20 %? will both the insurances work together? Please let me know. Thanks

Should I get business insurance?

I am an LLC for my small online business (I sell handmade jewelry). Should I also have business insurance? I make under $50k a year.

How much (estimate) would car insurance on a Dodge Challenger se r/t & srt8 be for a 18 year old boy?

I want to know the estimate on a dodge challenger srt8 se r/t and see what the differences are in price. Guessing the srt8 is gonna be alot!!! please just estimate. THANK YOU!

What would it cost to add someone who has a drink drive conviction to my car insurance for a couple of weeks?

It would be third party fire & theft; the same as me.

Looking for icn national insurance?

supposedly an insurance company

Where can I find low cost insurance plans?

I am 19 years old and I want to sign up for health, dental, and vision insurance. What are some insurance plans that I can look into, that are low cost?""

Affordable car insurance for teen drivers?

I am currently 17 and I will have my license for a year on April 28th. I had one minor accident in October but I finally found a car that I can afford payments on that is a really nice car but all the insurance companies are giving me rates over $200 that I can't afford because I don't have the money to pay that and a car payment. Is there anyway I can get the car and get low insurance rates?

How would an insurance company know how much a car has been lowered by?

So I won't get insured if my car has been lowered by more than 50mm. But if I told them it was lowered by 50mm, if I was to lower it any more than that, how would they know?""

How much does a teeth cleaning cost w/o insurance?

I got a mailer coupon from a dentist that says they only charge $46 for a regular cleaning & $29 for an exam & x-ray so total $75. I live in Las Vegas. Seems kinda a cheap gimmick? But what is the average price for exam/x-ray/teeth cleaning w/o insurance?

What affordable health insurance would you recommend for my uninsured 21 year old daughter?

She works full time but her employer charges an outrageous amount of money for health insurance. I know there are many many young people who don't have health insurance, mostly because of the cost of high insurance premiums. But my daughter really needs it cause she has some health issues that will stay with her for a lifetime.""

How expensive is car insurance under my own name rather than my Mom's name?

My mom's car insurance covers me...but they are threatening to take me off her insurance over something stupid. Does anybody have any idea of how much more expensive it is if I get my own car insurance under my name instead? I'm 23, male, in Ontario, Canada.""

""Can I drive someone esles car, I f I dont have car insurance?""

Hi everybody, I have a quick question. My friend sometimes gives me a car. His car is insured and registered. But I don't have a car and don't have a car insurance obviously. Another thing is that he was my roommate and my drivers license are registered for the same address as his dl. Right now I live in another place. I have heard that if your drivers licenses are registered for the same address it might be a problem. So my questions are: - Is that ok for me to drive his car? - And should I change my drivers licens address ? or this is not true about this rumor?""

Im away to buy a car on sunday but have no insurance on it will i need insurance ?

i am buying a car on sunday but have no insurance first car buying and it seems that you need to be 21 to get 1 day insurance so whats the legal way to do it because i dont want to buy car then get stopped and it gets towed away and can i drive it awa if the guys got insurance still on the car but what if he doesnt? is that a risk i shal take or not worth it at all!!! thanks .

Financing a car with insurance?

I live in NJ so car insurance is expensive enough. I wanted to finance a used car, i would put down around $2500 and finance the other $7500. But when you finance a car you need collision insurance. Is it cheaper with a used car? I don't think i can afford both!""

Car Insurance Cost Estimate (UK)?

Iam 21 and 22 this year, i want to know an estimate car insurance cost for any car for a new driver, note i have passed my driving test a few years ago should be around 18, but i didnt really need a car back then. if Sum1 knows roughly how much i should be paying for car insurance please post here. i dont mind having the lowest benefits etc... just want a cheapest price estimate.""

Health insurance for immigrant children?

can someone please help me out im a 17 years old immigrant in florida and i want to try out for soccer and i need insurance but i don't have it what is the cheapest solution you can give me

What will insurance pay?

If my car is totaled, which amount on the Kelly Blue Book will the insurance base payment on.""

Checking Insurance Quotes?

May be a stupid question but can you check different insurance quotes even if you haven't passed your test yet, just to get an idea of how much it will be ?""

Car insurance?

does your physical health affect your car insurance rates?

Rent insurance for tenants?

I am soon to be renting a property with my fiancee and I want to find out about rent insurance. I found a company online that provides insurance for tenants that pays the rent in case of job loss, etc. but now I can't find it. Do such companies exist, and where can I get such insurance? Can anyone recommend any?""

Backed my car into a car parked in the fire lane of a parking lot. what is likely to happen to my insurance?

He wasn't moving, but I didn't see him because he was parked where there weren't supposed any cars behind me, in the fire lane. Its probably my fault cause I was moving... Just wondering what to expect with my insurance rate, etc.""

Elizabeth Minnesota Cheap car insurance quotes zip 56533

Elizabeth Minnesota Cheap car insurance quotes zip 56533

If i report my car stolen will the insurance company ask for the keys?

My car was tolen... But i lost the keys to it. Does either the police or the insurance company ask for the keys?

Do liberals believe lower premiums means affordable insurance?

Do liberals believe lower premiums means affordable insurance?

My medicaid that i used for my pregnancy had expired...? here in texas?

back in august of 2011 & i no longer have insurance. what do i do now? i called my health plan & they said i gotta apply again but i don't know where i can get the application. i really need insurance cause i got upcoming appointments for me & if i don't have insurance, i'm not gonna be able to afford the expenses. anyone know where i can get the application for medicaid here in texas?""

Car insurance address different on license?

My drivers license and car registration address is at my mothers house which is my permanent address and my car insurance address is where Im living now which is a rental house. Do I need to change the address on my license and car registration? I'm always at my mothers house if it makes any difference. Is this illegal? How would i go about making changes if they need to be done and does it cost money? Thank You!!!!!!

Can you have be under two car insurance companies at once?

My dad is considering in buying another car(ideally for me to use) but to avoid the high cost, he wants to be listed as primary driver to both. It seems that usually when youre under one company, I will most likely be forced to be primary on one of the vehicles. So would it be possible to be under two different car insurance companies so that my dad can be primary for both or would this be considered a type of fraud or something illegal?""

Still waiting to hear from car insurance if car is a write off?

its been a week since this guy hit me from behind. he was 100% at fault. how long do i have to wait to find out if my car was a write off? the car is fixable and i need to know how much to fix? want my car back!!!!!

US Maternity Health Insurance?

Hi, I am looking forward to give birth in America so I need to know what kind of Maternity International Health Insurance I need since I am not an US citizen. I need a 1 to 6 months insurance. Can you provide some Companies' names or more info please? Or an approximated price? Thanks.""

On an application for car insurance does having the use of other vehicles increase or decrease the quote?

I'm filling in an insurance comparison and it asks if I have the use of other vehicles, I can drive my dad's but does it make it more or less expensive?""

Auto insurance and baby seat replacement?

I was in an accident a few months ago and I heard recently that the insurance company of the person at fault has to pay for new baby seats since the seats have served their purpose by protecting the children. Anyone else have experience with this? Can I get the insurance compant to pay for new seats?

What is the best insurance for a new driver in nyc?

I've been driving for 2 yrs now but got my license about 2 months ago. Im 21 and limited on cash. I need a cheap auto insurance because driving right now is essential with the MTA fare hike.

Short-term car insurance in California? Advice needed!?

I am going to rent a car in California for 6 weeks. I don't own a car of my own, so I don't have any normal car-insurance policy of my own. I do have a Visa gold-card, that covers collision damage waiver; but I wouldn't want to be without liability etc. Question: Is there any better deal I can get than paying the $10-$15 per day to the car rental company? Any ideas would be very welcome.""

Why do men think they are better drivers than women?

because if that were true our insurance wudnt be alot cheaper than theirs?anyone agree?

Why should a healthy person buy health insurance in 2014?

Because Obamacare eliminates pre-existing condition exclusion, why should a healthy person buy health insurance in 2014? Doesn't it make sense to save your money and buy insurance only once you need it?""

Good student discount for car insurance?

so...i just completed my first year of college, and quite frankly i finished up poorly. my GPA is like a little over 2.4-2.5 and my dad is asking if i'll be able to send my transcript to the insurance (my dad is unaware of my grades). no chance of getting some discount or any at all??...i've kept my grades from my dad for quite some time, and now this is totally gonna blow my cover. i'm screwed aren't i? i'm a full time student and the insurance company is american family. so i guess my question is, do they discount % based on intervals of GPA, or is there just a minimum requirement and it's either you get a discount or not?""

How much can I expect my car insurance to raise per year because of a speeding ticket?

I am 19 years old (so I know the car insurance companies are kinda screwing me to begin with). This is the first time I have been ticketed for anything. The ticket was for 10 over on a highway (80 in a 70) and because it was on the highway it will only add 1 point to my license. This is the only point I have acquired on my license, and I've had a license for 3 years and 4 months. My parents currently pay for my car insurance because I am a college student, and the deal we have is that as long as I am a full time student with over a 3.0 GPA they will pay for my insurance and cell phone bill and I will be responsible for all other expenses (school, rent, food, gas, clothes etc.). I do feel bad about it and I'm hoping it wont cost them too much money. How much of a spike should something like this cause?""

What is the average cost of teenage car insurance in illinois?

I am a 16 year old girl. I am getting a car for christmas. We are looking for a Honda Civic or Honda Accord, probably around a year 2000 or so. I get good grades, mostly A's. I am a girl. I need to know pretty fast how much this is going to cost a month. Thanks.""

Do I have to pay my insurance ticket if I drove an uninsured car while I owned another insured car?

Here is what happened: my mother drove my uninsured car and got a speeding ticket plus an insurance ticket. Since she owns a car with current insurance (its just this one time that she happened to drive my car) will I have to purchase insurance in order for judge to reduce her ticket? Or will the ticket get dismissed because she already had insurance (just on her car)?

How can i get heath insurance?

affordable very cheap

""Can I lose in small claims court if I got into a accident that wasn't my fault, but I didn't have insurance?""

Can I lose in small claims court if I got into a accident that wasn't my fault, but I didn't have insurance?""

Why does car insurance cost more for males than females?

I'm guessing because we tend to drive more dangerously, but how is that legal being sexist like that?""

""I need to get an insurance but not sure which is a good one,?

i am a cleaner and need to get insured for accidental damage as i work in the customers homes. thanks

When can i refinance my car loan ??

i bought a car on June 5th this year ( 200-7-) Now i pay around 425 dollars for it every month , and as per insurance around 198 . i make around 750 dollars a month . i am doing this because i want to be independent from my parents. If i don't start somewhere then i will never be on my own . anyway emotional stuff aside..hehe. When can i refinance my loan , currently it's around 6-7% I think my credit score went high , my equifax is 669 , when i checked right now on creditinform.com. I have chase bank , you think they can lower it ? do you know how much lower they can go ? around 300 maybe? i am goin to take defensive driving class also , i heard that saves a lot of money also on insurance.. Please help , : ) thanks , have a nice day.""

Car Insurance Premium?

I buy a new car on 02nd January 2012 for Rs 7,00,000.00. I paid Rs. 15,000.00 as insurance premium to HDFC for one year. My car met an accident & I claim Rs. 50000.00 to insurance company & claim settled. My question is here, will my insurance premium will be more than Rs 15,000.00 next year or the insurance premium will be calculated as per the car market value in next year ?""

Car insurance for 27 male?

Hello, Im 27 year old male, driving a 2003 mazda protege with 170 000 kms. I live in London Ontario. How much will car insurance be with a clean record?""

Another car insurance question to British drivers!?

My brother's car was written off yesterday [was the other party's fault]. He was told today the car wasn't redeemable so that's that! So he is waiting to see how much they are going to pay him for the loss, but the question is does he have to keep paying full comprehensive insurance when he no longer has a car to drive? Can he now pay a reduced rate until the insurance is sorted out? It seems unfair to continue paying out for fully comp insurance when there is no car to insure!""

Elizabeth Minnesota Cheap car insurance quotes zip 56533

Elizabeth Minnesota Cheap car insurance quotes zip 56533

Selling my car without insurance?

Hi, I live in fayette county, lexington ky, and was wanting to sell my car, but on my local dmv website, it says I have to have a liability insurance, but I don't have one and can't afford it. What should I do?""

Car insurance?

Does anyone know of a website where you can find out how your occupation affects your car insurance quote? im a postman and i was just wanting to know what grade i was in? cheers

How much would nyc car insurance be for a 19 year old insuring only himself? ?

How much would nyc car insurance be for a 19 year old insuring only himself? ?

Does auto insurance cover the vehicle or the driver (California)?

I work on a military installation and I'm required to have the appropriate decals on my car to enter through the gates. I went to renew my decals as they are only good for 3 years and I was denied. My registration has both my dad and I listed (since he paid for the car), but my insurance policy only has him listed because he foots the bill, but I am a covered driver. My vehicle ID number, make, model, and year is listed on both the registration and proof of insurance card. My name is on the registration so I thought this would suffice (especially because they already gave me decals/passes in the past). The marine I was speaking to said that what I am doing is illegal in the state of California and that I must be a policy holder in order to be covered. I always thought that insurance covered the car. Can anyone clarify this issue and reference the California Vehicle Code? I've searched and searched and cannot find accurate clarification. I wanted to be able to print something and show it to him. If I can't find proof then I can't get to work.""

What is the most affordable health insurance in NYC?

My friend doesn't have health insurance and is planning on putting his new baby (born around Oct.) on his policy with him. He's Latin American and has his permanent residence card, but is not yet a citizen. Anyone know of any affordable plans for him to look into in the Manhattan area?""

Car insurance for 18 year old female with '97 Dodge Dakota?

I turn 18 in August and plan on getting my license right after my birthday, but my grandmother has offered to buy me a 1997 Dodge Dakota before I even get my license. Questions I want to ask are: How much is insurance on one of those vehicles? What will be the insurance once I get my license in August? I'm just looking for an estimate so I can figure out how much of my paycheck would be going towards it or even if I could possibly afford the thing. Thanks in advance! =) P.S. I'm an A+, homeschooled, female student if that makes any difference.""

Car insurance for a 16 year old?

I am getting my g2 (I'm in Ontario) soon, and would like to purchase my own car. I can go through my parents insurance, but I couldn't be a secondary driver as there would be 3 cars in the house. Could I put it under my grandfathers name and be a secondary driver? Or just get insurance by myself? How much should I expect to pay? I have done drivers ed if that helps. Thanks !""

""Im 19, live in pittsburgh with a liscense and no car insurance?""

i need to rent a car but im only 19 and i have no car insurance, is there anywhere for me to rent a car?""

Help about choosing car insurance?

I'm 18 and I need to start paying for my own car insurance. Any suggestions for lowering the cost? I live in New York which means my parents are finacially responsible for me until I'm 21. I know that everyone says to try and stick it out but that is not an option. I'm going to be living with a close friend and we need to keep our expenses to a minimum. Any tips concerning car insurance, OR health insurance too would be great.""

How much does auto insurance cost for a 16 year old female?

I was trying to do the online quote thing but i cant because its asks for a phone in order to generate the rates , and im most certainly not about to give them my phone number. No way jose.thats why im asking. -Im a 16 year old female -Dont have a license (yet) -im single -I would be driving a 2001 kia... i think sephia? Idk but it looks like a very basic car. -I have good grades -i have never gotten tickets or DUIS So do any of u have an estimate??? Also please dont comment something irrelevant or pointless...""

Uk car insurance help?

hi i'm 18 years old and i'm getting a car, obviously it needs car insurance can you give me any tips on what to do to get cheap quotes... i'm currently the only 1 in the family that will actually drive, my mum doesn't drive, no dad and when i went to sites like moneysupermarket and confused.com all i get are 4,000 pounds up!!!! per year, dam its a lot more expensive than the car!!! and can u please explain to me what no claims discount is?? and which cover should i get, comprehensive or the other options thank you!""

Will i need cash deposit or visa to get rental car after accident in which other party is at fault?

i did not have insurance at time of accident. i live in california.

Cost of Insurance for Nissan 350Z?

I am 18 years old (about to turn 19) and gonna buy a 350Z (well my parents are). I have always wanted one and I am getting it for looks and commuting only. But to be safe, I will buy a police radar and install a kill switch as soon as I get it. My question is how much would insurance be for a 2004-2005 Nissan 350Z? Would it be better to buy the Z in my parents' name under my parents' insurance? Also, I am curious of how much do any of you pay for a car like a 350Z.""

Is car insurance much cheaper if you have a old car?

I want to buy a 1968 dodge charger and I heard that if it's like 25 years or older car insurance is real cheap is this true

Car insurance company question?

State farm gave me a car insurance quote 6 months ago. I agreed to it and they set up an account. They told me that we would have automatic payments made to them every month and that my coverage would stay the same. My husband and I never checked to make sure they were still automatically withdrawing the payments until today, 6 months later. I tried to call my insurance agent and she quit! I have not been covered since after the first month, and no one ever called to let me know I was no longer insured. HAD SOMETHING HAPPENED, ME AND SOME OTHER DRIVER WOULD'VE BEEN SCREWED. Who do I talk to about this? BTW I switched insurance companies since then and am now covered. I just was wondering who I can complain to about this.""

Car insurance?

1st off i live in new jersey i accidently hit a car but didnt know i did it till later when the dude whose car i hit came up and confronted me.it wasnt my car but my roommates and i dont have insurance.ive offered to pay about 75% of the damage but i dont know if dude still wants to make a claim.i talked 2 the police and he said i could lose my damn lisence for bout 2 yrs.can any1 add a bit of clarity to this for me?

How much insurance would be on a 600cc?

Im deciding on getting a 600cc, or a gsxr 600 around the 2004-2005 range. Im 21 years of age, How much do you think insurance will be for me? I live up in the woods so i know when your in a less populated town and out of the city insurance will be a little cheaper. Thanks""

How much is the insurance for a trampoline?

I am looking into getting a trampoline but I would like to get liability insurance. I have AAA and I was wondering how much my homeowners insurance would go up if I get a trampoline with a net around it

Health insurance question?

so i just got health insurance for me and my family for the first time ever and i dont understand what the deductible is, will the insurance cover anything until we pay the deductible?""

How can i get affordable insurance for my pregnant wife?

im not sure what my options are at this point. my wife is 4 months pregant and her temporary 45 day medical has expired and healthy families wont accept her. we've tried to apply for medical before but were denied due to my income. my income looks more than it is since i have to spend over $500 a month in gas with no compensation. we have very little wiggle room when it comes to income. is there something out there that may be able to help us. we also have two other children but i was able to get them healthy families

Can you get insurance on a vehicle if your license is suspend?

Can you get insurance on a vehicle if your license is suspend?

""Wat types of car insurances are there for a 18 year old in Canada, how much do they cost?""

Wat types of car insurances are there for a 18 year old in Canada, how much do they cost?""

Rear ended in a three car crash. Who's insurance is liable?

I was rear ended in a 3 car crash, I am the first one. Car 2 hit me first ( I feel 2 impact), then car 3 slightly bump the car 2. My rear bumper ( car 1) damaged and the front of car 2 got heavy damage. the rear bumper of car 2 almost no damage. also, the front of car 3 look like new. Problem is car 2 insurance only agreed to pay 50% because they said after car 2 rear end me , car 3 rear end car 2 that make further damage to my rear bumper. Car 3 insurance will not pay anything because base on the damage they found, car 3 can't make any damage to me. The repair cost is less than 1000 ( my deductable) , I don't want to use my own insurance to repair my car, coz I think my ins co will not fight for my 1000 deductable. What I can do? I am not agreed what the car 2 insurance co said. Should I go to small claim court or.... its only 850 dollars.""

How do you find out if someone that hit you has insurance?

the insurance information i was given after someone hit my car turned out to be fake. my insurance company called his company but was told that the policy # does not exist. so is there a way i can find out through DMV or somewhere his true insurance information? if i can't find it, would this qualify as uninsured since i have uninsured drivers coverage? it would waive my deductible and it would pay for the injuries i suffered in the accident but only if he really is uninsured.""

Can car insurance be in both my name and my wifes?

I just sold my car, and am waiting 3 months to buy a new car. My job requires that i have car insurance ( i dont know why since i dont drive for my job) I faxed a copy of my wifes insurance. Can my name be added on to the insurance, or do i need to get seperate insurance?""

Elizabeth Minnesota Cheap car insurance quotes zip 56533

Elizabeth Minnesota Cheap car insurance quotes zip 56533

https://www.linkedin.com/pulse/whats-good-cheap-health-insurance-college-student-kenneth-alvarez/"

[investmart007]

AP Exclusive: Morocco World Cup bid masks homosexuality ban

New Post has been published on https://goo.gl/yg3WWv

AP Exclusive: Morocco World Cup bid masks homosexuality ban

April 16, 2018 (AP)(STL.News) —A FIFA task force arrived in Morocco on Monday to inspect a World Cup bid that obscures one potential impediment to hosting the 2026 soccer showpiece: Homosexuality is a criminal offense in the north African country.

An Associated Press review of 483 pages of documents submitted to FIFA found Morocco failed to declare its anti-LGBT law as a risk factor and provide a remedy, appearing to flout stringent new bidding requirements.

“Morocco’s human rights report presented to the FIFA is an intentional silence on an issue that Morocco knows too well is a crime on its soil,” Ahmed El Haij, president of the Moroccan Association for Human Rights, told the AP.

“It is evident that if Morocco was to host the World Cup, LGBT people coming to watch the games will face a lot of discrimination. The state will not be able to protect them nor will it be able to commit in preventing measures that could be taken against them by both the state and society.”

Under Article 489 of the Moroccan penal code, sexual acts between people of the same sex are punishable by six months to three years in prison.

While World Cup hosts could previously largely shake off concerns from activists, FIFA has demonstrated a growing awareness in recent years of how rights abuses can impact its events.

World Cups must be in environments free of “discrimination based on sexual orientation,” FIFA Secretary General Fatma Samoura wrote to activists last year discussing the forthcoming tournament in Russia. Samoura’s letter reflected a policy incorporated into world soccer statutes in 2013 as scrutiny of human rights mounted in Russia and 2022 World Cup host Qatar.

“Under the new nondiscrimination requirements under FIFA’s statutes and under the Human Rights Policy, one of the red lines is anti-gay activity, laws or policies,” Human Rights Watch director of global initiatives Minky Worden told the AP.

“Morocco, if they’re serious about winning, would need to be prepared to repeal the article of the penal code which punishes people for being gay,” she added.

Unlike when Russia and Qatar emerged victorious in the 2018-2022 FIFA bidding contest eight years ago, prospective hosts for the 2026 tournament were mandated to commission independent human rights reports and provide frank risk assessments that form part of the task force’s evaluation. A bid that scores too low based on technical criteria or fails to meet the tournament requirements can be disqualified by the FIFA Council before soccer nations vote on the 2026 host on June 13.

While the United States-Canada-Mexico bid chose to publish its human rights documents, Morocco repeatedly refused requests from the AP to match the disclosure. The Morocco bid’s international communications team also declined to provide any LGBT policy or how the criminalization of same-sex relations would be addressed during a potential World Cup.

The AP was provided with the human rights annexes to Morocco’s bid book by FIFA only after highlighting the north African nation’s lack of transparency to the soccer world and the up to 207 member nations who will vote in Moscow.

There is a solitary passing reference to LGBT rights in the main 381-page bid book: A narrowly worded pledge by the Moroccan soccer federation to “work to combat all forms of discrimination” including “sexual orientation,” signed by its president, Fouzi Lekjaa.

There is no mention of homosexuality being a criminal offense in the bid book, nor in the 27-page executive page executive summary.

Significantly, it is also omitted from the 33-page human rights strategy in which bids were told by FIFA to own up to “adverse impacts” and provide mechanisms to address them. The equivalent 90-page document from the rival North American bid features 20 mentions of “LGBTQI+” and eight references to “sexual orientation,” pledging to use their leverage to reduce the risk of discrimination and harassment in Mexico and the U.S. in particular.

“It trips you up in a bid like this because then you are submitting documents that don’t accurately reflect the human rights situation in your own country,” Worden said. “And you have missed an opportunity to engage the stakeholders who will come back to criticize you if you don’t uphold international human rights.”

Morocco’s only acknowledgement that homosexuality is outlawed comes within one sentence in a 42-page — nominally independent — “study on the human rights situation.”

Even then, the reference is ambiguous and implies the law might no longer be in place.

The study cites the United Nations Human Rights Council’s “Universal Periodic Review ” of the country, stating “Morocco took note of forty-four recommendations,” including “the decriminalization of homosexual relations.”

How Morocco responded to the recommendation is not provided to FIFA. That could be because Morocco told the UN in August 2017 it “completely rejects” proposals to decriminalize same-sex relations and violence against people based on their sexual orientation.

“Article 1 of the Constitution highlights the special framework of the federative constants of the Moroccan nation, namely, the moderate Muslim religion, national unity with its multiple components, constitutional monarchy and the democratic choice,” Morocco said in a response to the UN last year . “Thus, the Kingdom does not accept these recommendations since they are in contradiction with the above-mentioned federative constants.”

Amnesty International said it was “regrettable” Morocco has yet to repeal the articles in the penal code prohibiting same-sex sexual relations, pointing to cases last year when at least two men were sentenced to six months imprisonment.

“This contravenes the international and regional human rights treaties which Morocco has signed and ratified, including the International Covenant on Civil and Political Rights and the African Charter on Human and Peoples’ Rights,” Amnesty told the AP.

The independence of Morocco’s independent human rights study is debatable since it was co-authored by the country’s National Human Rights Council, whose president was appointed by the king and is on the bid’s human rights committee. The equivalent from the North American bid was produced by London-based Ergon Associates.

“It’s very clear from reading these bids against each other that the united bid of the U.S., Canada, and Mexico are taking this process quite seriously both in the scope and the scale and have admitted to human rights problems that they have that they will need to address,” Worden said. “And there are very serious concerns both on the LGBT discrimination front and on women’s rights (in Morocco). None of those things are mentioned or acknowledged in the bid.”

But one of the members of the bid’s human rights board maintained Morocco is a “friendly and tolerant” country.

“I don’t think that (ban on homosexuality) will be an issue because organizing a World Cup is mainly about infrastructure, being passionate about football, and the ability to organize a safe World Cup,” said Jamal El Amrani, who represents the Junior Chamber International organization in Morocco representing people aged 18 to 40.

“We have our laws and we have our values and maybe FIFA also have their values. … We may have some differences but we just need to have the ability to respect the differences and to be tolerant.”

By ROB HARRIS by  Associated Press – published on STL.News by St. Louis Media, LLC (U.S)

[mystlnewsonline]

New Post has been published on https://www.stl.news/dem-senators-report-warns-of-russian-meddling-across-europe/64932/

Dem senator's report warns of Russian meddling across Europe

WASHINGTON/January 10, 2018(AP)(STL.News)— A new report by congressional Democrats warns of deepening Russian interference throughout Europe and concludes that even as some Western democracies have responded with aggressive countermeasures, President Donald Trump has offered no strategic plan to bolster their efforts or safeguard the U.S. from again falling victim to the Kremlin’s systematic meddling.

The report is the first from Congress to comprehensively detail Russian efforts to undermine democracies since the 2016 presidential election. It wastes no time in calling out Trump personally for what it describes as a failure to respond to Russia’s mounting destabilization activities in the U.S. and worldwide. The report was obtained by The Associated Press in advance of its public release Wednesday.

“Never before has a U.S. president so clearly ignored such a grave and growing threat to U.S. national security,” the report warns.

No Republicans on the Senate Foreign Relations Committee signed on to the 200-plus page report released by Sen.

Ben Cardin of Maryland, the committee’s top Democrat. But even without GOP backing, the report’s recounting of Russian operations in 19 European nations foreshadows the still-unpublished Senate Intelligence Committee’s bipartisan inquiry into Russia’s role during the 2016 U.S. presidential election.

Cardin said in a statement that he commissioned the report so Americans can see the “true scope and scale” of Russian President Vladimir Putin’s efforts to undermine democracy.

“While President Trump stands practically idle, Mr. Putin continues to refine his asymmetric arsenal and look for future opportunities to disrupt governance and erode support for the democratic and international institutions that the United States and Europe have built over the last 70 years,” Cardin said.

Cardin’s inquiry lays blame directly on Putin for a “relentless assault to undermine democracy and the rule of law in Europe and the United States.” Concerned that Trump has failed to identify Russian aggression as a national rallying point, the report urges a “stronger congressional voice” in pro-democracy efforts and funding. The report calls for committee hearings and other bipartisan efforts to aid European nations in countering Russian aggression.

Some policy changes suggested by the report have garnered GOP interest, including the aggressive use of financial sanctions aimed at Russia and pressuring social media companies to be more transparent about Russian political messaging.

The report also pushes for the administration to fully fund and utilize the State Department’s Global Engagement Center, which it says is hobbled by “a lack of urgency and self-imposed constraints” under Secretary of State Rex Tillerson.

The center was created in 2016 to blunt terrorist propaganda. It duties have expanded to include countering Russian propaganda under legislation last year from Sens. Rob Portman, R-Ohio, and Chris Murphy, D-Conn.

Cardin’s report sketches a bleak portrait of European nations besieged by Russian encroachment. It also cites years of cyberattacks, disinformation, clandestine social media operations, financing of fringe political groups, corruption and in the extreme, assassination attempts and military operations that destabilized fledgling democratic governments in the Ukraine and Georgia. The report leans heavily on open source information as well as staff interviews with European diplomats and government officials.

Labeling Russia’s activities an “asymmetric assault on democracy,” the report notes that even elections in countries such as Britain, France and Germany were reportedly targeted by Moscow-sponsored hacking, internet trolling and financing for extremist political groups. The report also credits those nations and smaller European countries, such as Finland and Estonia, for responding quickly and often with effect.

Facebook officials told Cardin’s investigators that Kremlin-backed trolls that stirred up political tensions on its American pages also “pursued a similar strategy in the lead up to the 2017 French political election, and likely before Germany’s national election” last year.

Similarly, Finnish officials told Cardin’s investigators that Finland has ramped up anti-disinformation efforts after Russian-leaning Twitter accounts “began tweeting misinformation and fringe viewpoints” before that nation’s 2015 parliamentary elections — foreshadowing the surge in Russian-sourced fake Twitter accounts that proliferated during the U.S. presidential election.

Senate Intelligence Committee officials have questioned efforts of Facebook and Twitter to accurately determine the extent of Russian political messaging during the 2016 U.S. election. Cardin’s team also noted alarming discrepancies between the extent of Russian troll activity found by independent researchers and far lower figures claimed by social media companies in European countries. The report advocates for social media companies to do a better job of auditing their platforms to determine the full extent of Russian disinformation flowing across them.

Cardin’s report urges Trump to set up an interagency “fusion cell” on Russian interference modeled on the National Counterterrorism Center that was created after the 9/11 attacks. The report recommends that the president convene an annual global summit modeled after similar forums on combating the Islamic State group or homegrown extremists. Rapid response teams should be formed to defend ally countries after cyberattacks, with an international treaty governing the use of cyber tools in peace time.

It calls on the government to increase the amount of aid it provides to promote democracy in Europe and publicly to expose any organized crime and corruption links to Putin. It say social media companies should be required to publicize the sources of funding for political advertisements along the same lines as broadcast and print media.

So far, the president personally has shown little interest in addressing Russia’s activities. During a November trip to Asia, where he met with Putin, Trump said “he said he didn’t meddle” and added: “I really believe that when he tells me that, he means it.”

Other administration officials have been more skeptical of Russian behavior. Defense Secretary James Mattis has said the U.S. is prepared to deter Russian aggression in Europe and the U.S. agreed late last year to allow sales of lethal anti-tank weapons to Ukraine.

CIA Director Mike Pompeo said Sunday on CBS’ “Face the Nation” that the CIA is working diligently to prevent Russia or any other U.S. adversary from interfering in future elections. “I continue to be concerned not only about the Russians but about others’ efforts as well,” Pompeo said.

___ Associated Press writers Eric Tucker and Deb Reichmann contributed to this report.

___ Read the report: http://apne.ws/dJu8IWO

By Associated Press, published on STL.NEWS by St. Louis Media, LLC (TM)

[constructionaccounting]

0233: Contractors Struggle To Save Paperwork Needed For Taxes

This Podcast Is Episode Number 0233 And It Will Be About Contractors Struggle To Save Paperwork Needed For Taxes

Tax Time! Corporate Income Tax Returns are due to the IRS by September 15th for S-Corp and LLC’s filing as an S-Corp

Other types of corporations may be in a fiscal year with varied due dates. The only exception is any emergency extensions granted due to hurricanes (Harvey) or others. Personal Income Tax Returns are due to the IRS by October 15th which falls on the weekend and extended to Monday, October 16th. Keeping Paper Documents is necessary. Most contractors go from one extreme to the other. One extreme is saving everything for decades, and the other is tossing everything out. What To Save? What To Toss Out? We no longer need to print and save every document in file folders and keep adding new file cabinets. Happiness is every document that can be retrieved electronically at any time in the future.

Sharie's Seven Paper Tips...

Sharie’s Paper Tip 101 Save your receipts. If you have it in paper Get a file box and toss in all the gas, food, misc receipts paid by credit card.  Make a note on the receipt. You have the receipt for backup. I remember a story where someone needed to prove where they were. Charges on the credit card statement weren't enough.   Sharie’s Paper Tip 201 Make individual file folders for your state taxes, quarterly payroll reports, W-2’s, 1099’s. Other helpful folders are for your Bond, Liability Insurance, Worker’s Comp Insurance, Tools, Office Equipment and Cell Phones. All the statements you may need to reference over and over again and Receipts with extended warranties. Sharie’s Paper Tip 301 Print a copy of the Contract with your client (electronic signatures is fantastic) use a service that will time and date stamp in case you have an issues. Contracts are great in case of dispute. If all goes well, then The Signed Contract is just another piece of paper. I have heard stories of customers altering the contract, and the contractor did not double check. Magically things happen with software. Be sure what the client signs are the same copy of the contract you sent them and expected to be signed.   Sharie’s Paper Tip 401 Take credit cards. Use multiple services if that is what is available. If you use a service to send your contracts for signature and they have a Merchant Services; then sign up for it. Everything that happens seamlessly is the best. Approval Now + Authorization of Payment means you have real money (their money) to start the job.   OPM (means using Other Peoples Money – meaning you are using the Client’s money to start, continue and finish the job). Build in the Merchant Services Fee into your pricing. Cost of doing business.   Many contractors lost money on Groupon Coupons as customers only would do the One or Two Rooms as was prepaid on the coupon. (Example Carpet Cleaning – Drywall Patching)   Sharie’s Paper Tip 501 Use an invoice built on Excel. Word is pretty and is needed for all the descriptions. But to properly get the money, you expect to be paid Contractors need a form that adds up the money. Do not call all the payments a Job Deposit all the way from beginning to end. Call it a Statement, Progress Invoice, once work is approved it is no longer an Estimate or a Work Order. If you are in a sales tax state (Washington State) and need to collect sales tax; then be sure to add sales tax to every invoice. Customers have selective memory. Be sure to use “Plus Applicable Sales Tax” on the Estimate, Contact and all future billings. If sales tax increases you need to be able to pass the increases on to the customer.   Sharie’s Tip 601 Contractors who are doing remodel projects like to have job costing. To achieve basic job costing reports the accounting software needs to know what job the expenses should apply to. Many contractors will create a single file folder and drop all of the individual receipts in it.   This is handy if they have outsourced their bookkeeping and needed to give their bookkeeping to others to enter into an accounting software (QuickBooks) One simple way to add more detail for bookkeeping is to have accounts with the primary supplier. The person at the counter will ask you if you have a PO (Purchase Order). Purchase Order does not need to be complicated. Job Name and Job Address. Why both name and address? Because the name that pays the bill may not be the same as the Nick Name that you know your client as.    Examples: Bob, Bobby, Rob, Robby, Robert or Bill, Billy, Will, William may be the same person to you but not to the bank, credit card company.   Always exciting when Spouse, Family member or good friend helps pay your invoice. From Accounting side; next week, next month, next year will you remember which job the individual receipts are tied to?   Sharie’s Tip 701 For larger projects – file folder for each invoice especially if you are billing Time & Material or Cost Plus.   Keep good records; customers will randomly want to confirm the cost of some or all of the items.

Does your customer want copies of all receipts?  

Does your customer want to nit pick the price of each 2x4, cost of temp? Service and every dump fee?  

Does your customer Agree Verbally To Change Orders but give excuses when asked to confirm changes on paper or by email?  

Does your customer hide when you ask for payment?

To be better able to assist, we have added our FastEasyAccountingStore.com for the convenience of clients who want to do their bookkeeping and need additional Chart of Accounts and Items Lists to make their QuickBooks File work more efficiently. Option available for Contractors using QuickBooks Desktop (US Version) using our server and continue to do their bookkeeping.        Contractors who want more hands on help to Set Up QuickBooks and want to consider Outsourced Accounting Services using QuickBooks Desktop (access optional) We have a process that begins with chatting about your needs, how and what you are currently doing with your bookkeeping.

Clients range from Brand New Contractor to Seasoned Contractor whether you are currently using Shoe Box, Excel Sheets, QuickBooks Desktop, QuickBooks Online or nothing at all we can help. Looking forward to being of assistance.       Enjoy your day. Sharie

  About The Author:

https://www.fasteasyaccounting.com/free-one-hour-consultation-bookkeeping

Sharie DeHart, QPA is the co-founder of Business Consulting And Accounting in Lynnwood Washington. She is the leading expert in managing outsourced construction bookkeeping and accounting services companies and cash management accounting for small construction companies across the USA. She encourages Contractors and Construction Company Owners to stay current on their tax obligations and offers insights on how to manage the remaining cash flow to operate and grow their construction company sales and profits so they can put more money in the bank. http://www.fasteasyaccounting.com/sharie-dehart/ 206-361-3950 or sharie@fasteasyaccounting.com

I trust this podcast helps you understand that outsourcing your contractor's bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking a holistic approach to your entire construction company and helping support you as a contractor and as a person.

We Remove Contractor's Unique Paperwork Frustrations

We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company!

That is all I have for now, and if you have listened to this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance.

You Deserve To Be Wealthy Because You Bring Value To Other People's Lives!

I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast

This Is One more example of how Fast Easy Accounting is helping construction company owners across the USA including Alaska and Hawaii put more money in the bank to operate and grow your construction company. Construction accounting is not rocket science; it is a lot harder than that, and a lot more valuable to construction contractors like you so stop missing out and call Sharie 206-361-3950 or email sharie@fasteasyaccounting.com

Contractor Bookkeeping Done For You!

Thinking About Outsourcing Your Contractors Bookkeeping Services?

Click On The Link Below:

www.FastEasyAccounting.com/hs

This guide will help you learn what to look for in outsourced construction accounting.

Need Help Now?

Call Sharie 206-361-3950

sharie@fasteasyaccounting.com

Thank you very much, and I hope you understand we do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast.

Enjoy your day.     Sharie

About The Author:

https://www.fasteasyaccounting.com/free-one-hour-consultation-bookkeeping

Sharie DeHart, QPA is the co-founder of Business Consulting And Accounting in Lynnwood Washington. She is the leading expert in managing outsourced construction bookkeeping and accounting services companies and cash management accounting for small construction companies across the USA. She encourages Contractors and Construction Company Owners to stay current on their tax obligations and offers insights on how to manage the remaining cash flow to operate and grow their construction company sales and profits so they can put more money in the bank. http://www.fasteasyaccounting.com/sharie-dehart/ 206-361-3950 or sharie@fasteasyaccounting.com

Our Workflow Removes Your Paperwork Frustrations

For Contractors Who Prefer

To Do Your Bookkeeping

Fast Easy Accounting Do-It-Yourself Construction Accounting Store Is Open

Most Contractors Setup QuickBooks Desktop Version In One Of Three Ways:

#1 EZ Step Interview inside QuickBooks Setup #2 Asked Their Tax Accountant To Setup QuickBooks #3 They Attended A How To Setup QuickBooks Class Or Seminar

And QuickBooks Does Not Work The Way They Want It Too!

The Answer:

#1 Click Here To Buy An Entire QuickBooks Setup For Your Specific Contracting Company

#2 Click Here To Buy Just The Chart Of Accounts For Your Specific Contracting Company

  Short List Of Construction Contractors We Serve

Asphalt ContractorAsphalt Contractor Brand New ContractorBrand New ContractorBrick And Stone ContractorBrick And Stone ContractorCabinet Installation ContractorCabinet Installation ContractorCarpentry ContractorCarpentry ContractorCarpet And Tile ContractorCarpet And Tile ContractorCommercial Tenant Improvement ContractorCommercial Tenant Improvement ContractorConcrete ContractorConcrete ContractorConstruction EmployeesConstruction EmployeesConstruction ManagerConstruction ManagerConstruction Support SpecialistConstruction Support SpecialistCustom Deck ContractorCustom Deck ContractorCustom Home BuilderCustom Home BuilderDemolition ContractorDemolition ContractorDrywall ContractorDrywall ContractorElectrical ContractorElectrical ContractorEmerging ContractorEmerging ContractorExcavation ContractorExcavation ContractorFinish Millwork ContractorFinish Millwork ContractorFlipper House ContractorFlipper House ContractorFlooring ContractorFlooring ContractorFoundation ContractorFoundation ContractorFraming ContractorFraming ContractorGeneral ContractorGeneral ContractorGlass Installation ContractorGlass Installation ContractorGutter ContractorGutter ContractorHandyman ContractorHandyman ContractorHot Tub ContractorHot Tub ContractorHVAC ContractorHVAC ContractorInsulation ContractorInsulation ContractorInterior Designer ContractorInterior Designer ContractorLand Development ContractorLand Development ContractorLandscape ContractorLandscape ContractorLawn And Yard Maintenance ContractorLawn And Yard Maintenance ContractorMasonry ContractorMasonry ContractorMold Remediation ContractorMold Remediation ContractorMoss Removal ContractorMoss Removal ContractorPainting ContractorPainting ContractorPlaster ContractorPlaster ContractorPlaster And Stucco ContractorPlaster And Stucco ContractorPlumbing ContractorPlumbing ContractorPressure Washing ContractorPressure Washing ContractorRemodel ContractorRemodel ContractorRenovation ContractorRenovation ContractorRestoration ContractorRestoration ContractorRoofing ContractorRoofing ContractorSiding ContractorSiding ContractorSpec Home BuilderSpec Home BuilderSpecialty ContractorSpecialty ContractorStone Mason ContractorStone Mason ContractorStucco ContractorStucco ContractorSubcontractorSubcontractorSwimming Pool ContractorSwimming Pool ContractorSwimming Pool And Hot Tub ContractorSwimming Pool And Hot Tub ContractorTile And Carpet ContractorTile And Carpet ContractorTrade ContractorTrade ContractorTree ContractorTree ContractorUnderground ContractorUnderground ContractorUtility ContractorUtility ContractorWaterproofing ContractorWaterproofing ContractorWindow ContractorWindow Contractor

Additional QuickBooks Templates, Resources, And Services

QuickBooks Set Up TemplatesSolopreneurQuickBooks Chart Of AccountsFree StuffQuickBooks Item Lists TemplatesConsulting

We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed

Please Do Not Be Concerned Because If You Are A Contractor

There Is A Good Chance We Can Help You!

Call Now: 206-361-3950

  Additional QuickBooks Templates, Resources, And Services

QuickBooks Set Up Templates   Solopreneur

QuickBooks Chart Of Accounts     Free Stuff

QuickBooks Item Lists Templates     Consulting

  We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed

Please Do Not Be Concerned Because If You Are A Contractor

There Is A Good Chance We Can Help You!

Call Now: 206-361-3950

If you are a blogger, who writes about construction we would like to hear from you.

https://www.fasteasyaccounting.com/guestblogger

                        ��                                           Contractors_Success_MAP, Contractors_Success_Marketing_Accounting_Production, Contractor_Bookkeeping_Services, QuickBooks_For_Contractors, QuickBooks_For_Contractors,Contractors_Success_Map_Contractors_Struggle_To_Save_Paperwork_Needed_For_Taxes

Check out this episode about Contractors Marketing - Accounting - Production (M.A.P.)!

[takebackthedream]

Trump Nominates 'Alligator' Clayton To Run the SEC by Dave Johnson

Saying on the campaign trail that Wall Street banks and hedge funds are “getting away with murder,” President Trump promised voters he would “drain the swamp” and “reduce the corrupting influence of special interests on our politics.” He was playing on the public’s sentiment that Washington is a swamp of Wall Street and corporate interests, connected insiders who feed off of taxpayers.

Trump’s “closing argument” television ad explained exactly who his villains were. Showing clips of Wall Street, stock tickers, a montage of world leaders chumming with Hillary Clinton as well as Lloyd Blankfein, the Chairman and CEO of Goldman Sachs, and billionaire philanthropist George Soros, Trump says in voiceover:

It’s a global power structure that is responsible for the economic decisions that have robbed our working class, stripped our country of its wealth and put that money into the pockets of a handful of large corporations and political entities.

That was then, this is now.

Instead of following up on his promises, Trump has brought so many swamp creatures into his administration that it has become a cliché to say that Trump is filling the swamp with alligators.

Jay Clayton, Trump’s nominee to head the Securities and Exchange Commission (SEC), appears to be one more alligator.

How do we know this? Well, for starters Clayton was, literally, the “Goldman Sachs bailout lawyer.” He represented Goldman and other Wall Street firms during the aftermath of the 2008 financial crisis. So there’s that.

Clayton is a partner at Sullivan & Cromwell, a law firm that is, according to FN Financial News, “more closely associated with Wall Street than perhaps any other law firm.” His wife, meanwhile, works at Goldman Sachs as a wealth management advisor.

Ohio Senator Sherrod Brown describes Clayton as “an attorney who’s spent his career helping Wall Street beat the rap.”

With so many Wall Street ties,”Clayton will be the most financially conflicted SEC chairman in history.” If confirmed, he might have to recuse himself (but not those he hires) from involvement in a huge amount of SEC’s work. According to the Trump Transparency Project,

If confirmed, Clayton will be required to recuse himself “for one year from voting on any particular matter if a firm or individual is being represented by” his law firm, and “for a year from working on matters that involve clients he represented in the past year.” He also will be “recused indefinitely if a deal he previously worked on comes up during SEC litigation.” Based on an analysis of “recent” and “selected” Sullivan & Cromwell clients, it is estimated that Clayton will need to recuse himself from cases involving nearly one-third of the institutions on the Financial Stability Board’s list of “global systemically important banks.

So there’s that, too.

But Clayton’s professional ties are not the only concern.

Rolling Stone’s Matt Taibbi wrote about a “mysterious firm,” WMB Holdings, behind much of Clayton’s “family income.” In fact, WMB accounts for around $4 million a year in “family income.” A pittance to the likes of Trump and those he surrounds himself with, to be sure, but still something to marvel at.

According to Taibbi, things start getting weird when you look deeper into this firm.

Public Citizen for a variety of reasons believes that WMB “may also be the parent of Corporation Service Co. (CSC),” another large business services firm with offices in “Delaware, Australia, France, Hong Kong, Singapore, Sweden, and the United Kingdom.”

Among other things, WMB was for some time listed as the parent of a company called CSC Trust Co., now called Delaware Trust Co.

CSC Global claims 2,500 employees as well as 180,000 corporate customers, while also representing 10,000 law firms. The company appears to do more or less the same things that Clayton says WMB does, dealing with creating legal business entities, management of licenses, upkeep of filings, dealing with service of process, etc.

Companies like these rig the system by helping set up strings of shell companies that make it impossible for law enforcement to track down who owns companies, and whether their money is in tax havens. For example,

Interestingly, when Public Citizen ran the names of WMB and CSC through the Panama Papers database, they found nothing. But when they ran the address common to both companies – 2711 Centerville Rd., Wilmington – through the database, they found it connected with numerous firms whose agent was the infamous Mossack Fonseca, many of them offshore companies.

WMB and CSC help set up shell companies. Like Donald Trump’s offshore companies, for example. Last year the Wall Street Journal looked into some of Trump’s holdings, and how he uses a web of Limited Liability Corporations (LLCs) to conceal the true extent of his holdings, and hence his potential conflicts of interest as president:

President-elect Donald Trump owns a helicopter in Scotland.

To be more precise, he has a revocable trust that owns 99% of a Delaware limited liability company that owns 99% of another Delaware LLC that owns a Scottish limited company that owns another Scottish company that owns the 26-year-old Sikorsky S-76B helicopter, emblazoned with a red “TRUMP” on the side of its fuselage.

Across Mr. Trump’s business, he uses a similar web of privately held LLCs and other entities to house his assets—everything from real estate to a vintage carousel in Manhattan’s Central Park, according to a Wall Street Journal analysis of hundreds of pages of his corporate filings and personal financial disclosures. Fifteen entities, for example, are used to hold his interests in two airplanes and three helicopters.

You get the picture. We’re talking about companies that own companies that hide companies that own companies that own hidden companies.

This matters. Clayton appears to be involved in helping companies hide things like profits, tax obligations, assets and other companies. THIS is who Trump nominated to head the SEC, which is supposed to enforce transparency.

And this is just the tip of an iceberg – the kind of iceberg shell companies help create.

Why Does This Matter?

Why does it matter who is in charge at the SEC? The SEC enforces federal securities laws and regulates Wall Street. The idea of the SEC is that if the public and investors have all the facts about companies at the same time they have a level playing field on which to make investment decisions. Otherwise Wall Street can be rigged to work for those who already have the power and the money, which necessarily means the system works against everyone else.

For some time the SEC has been a “captured” agency, controlled by a “revolving door” for those it is supposed to regulate. Instead of enforcing transparency and open information, the agency has blocked rules requiring companies to companies to disclose political spending (a primary mechanism of agency capture), rules requiring companies to show the “pay ratio” between top executives and the rest of the workforce and other rules. The SEC dodged issuing “tax transparency” rules requiring Exxon, for example, to disclose bribes paid to dictators long enough for Republicans to gain control of the government and repeal them.

So yes, it does matter who runs the SEC. It’s about the bigger picture of a system that works for We the People or a system rigged for a few already-wealthy, already-powerful people. It’s one or the other.

Will Clayton be on the side of Wall Street, or on the side of We The People as head of the SEC? All Clayton’s signs point to his loyalties to The Street. And, really, why else would Trump have appointed him?

[investmart007]

AP Exclusive: Morocco World Cup bid masks homosexuality ban

New Post has been published on https://goo.gl/yg3WWv

AP Exclusive: Morocco World Cup bid masks homosexuality ban

April 16, 2018 (AP)(STL.News) —A FIFA task force arrived in Morocco on Monday to inspect a World Cup bid that obscures one potential impediment to hosting the 2026 soccer showpiece: Homosexuality is a criminal offense in the north African country.

An Associated Press review of 483 pages of documents submitted to FIFA found Morocco failed to declare its anti-LGBT law as a risk factor and provide a remedy, appearing to flout stringent new bidding requirements.

“Morocco’s human rights report presented to the FIFA is an intentional silence on an issue that Morocco knows too well is a crime on its soil,” Ahmed El Haij, president of the Moroccan Association for Human Rights, told the AP.

“It is evident that if Morocco was to host the World Cup, LGBT people coming to watch the games will face a lot of discrimination. The state will not be able to protect them nor will it be able to commit in preventing measures that could be taken against them by both the state and society.”

Under Article 489 of the Moroccan penal code, sexual acts between people of the same sex are punishable by six months to three years in prison.

While World Cup hosts could previously largely shake off concerns from activists, FIFA has demonstrated a growing awareness in recent years of how rights abuses can impact its events.

World Cups must be in environments free of “discrimination based on sexual orientation,” FIFA Secretary General Fatma Samoura wrote to activists last year discussing the forthcoming tournament in Russia. Samoura’s letter reflected a policy incorporated into world soccer statutes in 2013 as scrutiny of human rights mounted in Russia and 2022 World Cup host Qatar.

“Under the new nondiscrimination requirements under FIFA’s statutes and under the Human Rights Policy, one of the red lines is anti-gay activity, laws or policies,” Human Rights Watch director of global initiatives Minky Worden told the AP.

“Morocco, if they’re serious about winning, would need to be prepared to repeal the article of the penal code which punishes people for being gay,” she added.

Unlike when Russia and Qatar emerged victorious in the 2018-2022 FIFA bidding contest eight years ago, prospective hosts for the 2026 tournament were mandated to commission independent human rights reports and provide frank risk assessments that form part of the task force’s evaluation. A bid that scores too low based on technical criteria or fails to meet the tournament requirements can be disqualified by the FIFA Council before soccer nations vote on the 2026 host on June 13.

While the United States-Canada-Mexico bid chose to publish its human rights documents, Morocco repeatedly refused requests from the AP to match the disclosure. The Morocco bid’s international communications team also declined to provide any LGBT policy or how the criminalization of same-sex relations would be addressed during a potential World Cup.

The AP was provided with the human rights annexes to Morocco’s bid book by FIFA only after highlighting the north African nation’s lack of transparency to the soccer world and the up to 207 member nations who will vote in Moscow.

There is a solitary passing reference to LGBT rights in the main 381-page bid book: A narrowly worded pledge by the Moroccan soccer federation to “work to combat all forms of discrimination” including “sexual orientation,” signed by its president, Fouzi Lekjaa.

There is no mention of homosexuality being a criminal offense in the bid book, nor in the 27-page executive page executive summary.

Significantly, it is also omitted from the 33-page human rights strategy in which bids were told by FIFA to own up to “adverse impacts” and provide mechanisms to address them. The equivalent 90-page document from the rival North American bid features 20 mentions of “LGBTQI+” and eight references to “sexual orientation,” pledging to use their leverage to reduce the risk of discrimination and harassment in Mexico and the U.S. in particular.

“It trips you up in a bid like this because then you are submitting documents that don’t accurately reflect the human rights situation in your own country,” Worden said. “And you have missed an opportunity to engage the stakeholders who will come back to criticize you if you don’t uphold international human rights.”

Morocco’s only acknowledgement that homosexuality is outlawed comes within one sentence in a 42-page — nominally independent — “study on the human rights situation.”

Even then, the reference is ambiguous and implies the law might no longer be in place.

The study cites the United Nations Human Rights Council’s “Universal Periodic Review ” of the country, stating “Morocco took note of forty-four recommendations,” including “the decriminalization of homosexual relations.”

How Morocco responded to the recommendation is not provided to FIFA. That could be because Morocco told the UN in August 2017 it “completely rejects” proposals to decriminalize same-sex relations and violence against people based on their sexual orientation.

“Article 1 of the Constitution highlights the special framework of the federative constants of the Moroccan nation, namely, the moderate Muslim religion, national unity with its multiple components, constitutional monarchy and the democratic choice,” Morocco said in a response to the UN last year . “Thus, the Kingdom does not accept these recommendations since they are in contradiction with the above-mentioned federative constants.”

Amnesty International said it was “regrettable” Morocco has yet to repeal the articles in the penal code prohibiting same-sex sexual relations, pointing to cases last year when at least two men were sentenced to six months imprisonment.

“This contravenes the international and regional human rights treaties which Morocco has signed and ratified, including the International Covenant on Civil and Political Rights and the African Charter on Human and Peoples’ Rights,” Amnesty told the AP.

The independence of Morocco’s independent human rights study is debatable since it was co-authored by the country’s National Human Rights Council, whose president was appointed by the king and is on the bid’s human rights committee. The equivalent from the North American bid was produced by London-based Ergon Associates.

“It’s very clear from reading these bids against each other that the united bid of the U.S., Canada, and Mexico are taking this process quite seriously both in the scope and the scale and have admitted to human rights problems that they have that they will need to address,” Worden said. “And there are very serious concerns both on the LGBT discrimination front and on women’s rights (in Morocco). None of those things are mentioned or acknowledged in the bid.”

But one of the members of the bid’s human rights board maintained Morocco is a “friendly and tolerant” country.

“I don’t think that (ban on homosexuality) will be an issue because organizing a World Cup is mainly about infrastructure, being passionate about football, and the ability to organize a safe World Cup,” said Jamal El Amrani, who represents the Junior Chamber International organization in Morocco representing people aged 18 to 40.

“We have our laws and we have our values and maybe FIFA also have their values. … We may have some differences but we just need to have the ability to respect the differences and to be tolerant.”

By ROB HARRIS by  Associated Press – published on STL.News by St. Louis Media, LLC (U.S)