UMMOA and New York State Bitcoin regulatory environment

Coinbase has submitted an application for a BitLicense in New York State, making it one of the leading bitcoin businesses to seek the necessary regulatory approval.

It should be noted that the UMMOA is based in New York State with concern to the Bitcoin regulatory environment, and uses Coinbase's services for its account and weekly purchase of Bitcoin.

We cannot yet understand whether the BitLicense legislation will have a negative impact on Bitcoin, at least for those residing in New York State, nor can we assure Ummoagians and others that we have so far the people, capacity, and commitment to branch out of Bitcoin.

On a slighty more positive note, as the UMMOA abandons its unsopportive, Italian-only speakers, having already abandoned all support for Italian-language news permanently [1], it can be said that while the UMMOA population falls, the population has also gotten wealthier on a per capita basis at least in a certain way.

The UMMOA Treasury has recently acquired 20 additional troy ounces of silver, and now UMMOA-GEO has total reserves for 105.1 Oz of fine silver (USD value).

However, the value of the UMMOA's over-the-counter ordinary shares has fallen greatly from its past plateau, and the general trend does not seem encouraging.

The UMMOA has neither the additional financial resources, nor the right ideas to counter this general economic downturn of events.

Coinbase: We Have Applied For a New York BitLicense
HMRD Cesidio Tallini [2, 3]
UMMOA Treasury