US Government Not Passing Bitcoin Regulations

According to White House official, there's a long way to go before the U.S. government starts regulating bitcoin
16 February 2018   305

During an interview, Rob Joyce, special assistant to the president and White House cybersecurity coordinator told that the government is concerned about cryptocurrencies but it is still a long way from developing an official regulatory framework.

I think we’re still absolutely studying and understanding what the good ideas and bad ideas in that space are,” he said of cryptocurrency regulation. “So, I don’t think it’s close.

Rob Joyce

Special President's assistant and White House cybersecurity coordinator

According to him, the White House is concerned about the ability of criminals to use cryptocurrency to violate anti-money laundering policies at traditional financial institutions. Bitcoin is a decentralized and digital, unlike fiat currencies such as the dollar it’s not backed by a central authority.

Due to the fact that transactions are anonymous, the coin has been accused of making it easier for those engaged in illicit activities to hide their money. Joyce also stated that the government hasn’t figured out instantiation of bitcoin and other cryptocurrencies yet.

20 % of University Students gain Cryptocurrency with Aid

The Student Loan Report along with Pollfish interviewed 1,000 university students with related loan debt
23 March 2018   157

It took them for 4 days to collect the data (from March, 16 till March, 20 of this year). All the participants were to ask the following question: Have you ever use student loan money to invest in cryptocurrencies like bitcoin?

The results were remarkable. The poll revealed that 21,2  % of current students with the loan debt have used aid money in order to fund a cryptocurrency investment. So, over one-fifth answered in the affirmative.

Drew Cloud, the leader of the Student Loan Report, clarified that the younger Americans are more active investors as they are rather optimistic about cryptocurrency. Therefore the students want to get involved in this subject in any way possible. Drew Cloud sincerely thought the percentage would be lower. He considers that any college student's budget is thin and limited, therefore some extra money may be used on rest, groceries, or books.

The Student Loan Report approved: student loan debtors would be to pull off such a manipulation as they are given their remaining loans to be used on “living expenses”. From time to time they borrow more than they end up needing for studies. College debtors`spending of the money is not officially tracked and this allows the leftover means to be spent in the way preferred by the student. Another important factor is loan debt payments often do not occur until after graduation, and generally 6 months after.

Mr. Cloud claimed that cryptocurrency was the most prevalent investment of 2017. The young Americans consider that digital money is a savvy way to spend their refund checks. Some students even suggest that they would be able to quickly pay their debts off (because “not long ago every virtual currency was experiencing seemingly unstoppable growth”).

A significant shortcoming from the survey are data concerning how much the average student of the university spent of their financial aid on cryptocurrency. It also would have been interesting to know what types of digital means students favoured.