Sunday, February 12, 2017

The battle for sandbox in Czech Republic

Bitcoin Reporting on one battle to protect the  sandbox. Martin Sip operates the local sandbox advocate in Czech Republic. CeEO of a tech hub making sandbox technology work. I excerpted the part of the interview containing the key point, letting government spy code into the sandbox.
Cryptoanarchy Institute To Refuse Following EET Law – Interview with Martin Šíp

BC: The Czech Republic’s Ministry of Finance has decided to enforce stricter Bitcoin policies in the region. Can you explain what this entails?
MŠ: Until last year, the Czech Republic didn’t have any specific laws concerning Bitcoin. However, from January 1st, there is a new regulation which enforces AML/KYC procedures for virtual currency exchanges. Every customer has to be identified.
BC: Recently some reports claimed the Ministry of Finance had visited and fined Paralelní Polis. Is this true and if so what happened?
MŠ: Recently, Paralelní Polis has opposed a new Czech financial regulation, EET, which enforced real-time reporting of every business cash transaction to the Ministry of Finance. Paralelní Polis has refused to abide by this law by publicly denouncing it. Two weeks ago, our cafe ‘Bitcoin Coffee’ was visited by two financial officers checking on EET compliance. According to them, they found out that Bitcoin Coffee doesn’t adhere to the EET law. We are awaiting the official response.

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