Proposed Italian Amendment Could Block Bitcoin Transactions Exceeding €1,000 By Treating it Like Cash

Jayanand Sagar | January 18, 2014 | 10:16 am

Proposed Italian Amendment Could Block Bitcoin Transactions Exceeding €1,000 By Treating it Like Cash

Jayanand Sagar | January 18, 2014 | 10:16 am

Magnifying Glass ClipAn parliament member in Italy — Sergio Boccadutri — posted a proposed Italian amendment (see his tweet) that would treat bitcoin like cash. Using cash in the country has a cap of €1,000, and it would be no different with bitcoin.

The point? Get bitcoin recognized as a legitimate currency. In addition, this would make sure that businesses accepting bitcoin complied with the country’s anti-money laundering legislation (which again, calls for transactions no larger than the above amount).

In addition to the amendment, Boccadutri, in partnership with CashlessWay will be holding an event on January 30th called “Objective ePayment” with goals to promote awareness of digital payments.

Boccadutri adds that he’s looking to bring “a proactive path on Bitcoin”. (via CoinDesk)

Tags: , , , , ,

NewsBTC is a news service that covers bitcoin news, technical analysis & forecasts for bitcoin and other altcoins. Here at NewsBTC, we are dedicated to enlightening people all around the world about bitcoin and other cryptocurrencies. We cover news related to bitcoin exchanges, bitcoin mining and price forecasts for various virtual currencies.

Get the app

Featuring live charts, price analysis, breaking news, currency converter and more. The only bitcoin app you need!