TutorTeddy - Free College Homework Help and Statlance - Statistics Help Postponing Doing Business Using Bitcoin or Litecoin Due to Unclear Regulations

Price volatility of Bitcoin and lack of clear regulation have prompted TutorTeddy - Statistics Help and Accounting Help Service to be on the sideline.

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Cambridge, MA (PRWEB) February 25, 2014

TutorTeddy's market survey revealed that college students are quite excited about using the Bitcoin or other crypto or digital currencies to meet their various needs like getting help for homework. However, during the hearing in New York last month by Benjamin Lawsky, Superintendent of New York State Department of Financial Services, it became clear that regulations are not defined enough for businesses like TutorTeddy to accept them right now.

TutorTeddy will continue to monitor development and recommendations of a task force set up for regulating crypto or digital currency ( "State Regulators Form Task Force to Study Changing Landscape in Payment Systems." State Regulators Form Task Force to Study Changing Landscape in Payment Systems. Conference of State Bank Supervisors, 20 Feb. 2014. Web. 20 Feb. 2014. http://www.csbs.org/news/press-releases/pr2014/Pages/pr-022014.aspx. )

The Task Force includes the following regulators from nine states:

    David J. Cotney, Commissioner of Massachusetts Division of Banks
    Jan Lynn Owen, Commissioner of California Department of Business Oversight
    Drew J. Breakspear, Commissioner of Florida Office of Financial Regulation
    Kevin B. Hagler, Commissioner of Georgia Department of Banking and Finance
    Benjamin Lawsky, Superintendent of New York State Department of Financial Services
    Greg Gonzales, Commissioner of Tennessee Department of Financial Institutions
    Charles G. Cooper, Commissioner of Texas Department of Banking
    G. Edward Leary, Commissioner of Utah Department of Financial Institutions
    Scott Jarvis, Director of Washington Department of Financial Institutions

As soon as TutorTeddy gets some comprehensive guidance from the states and federal regulators, they will come on board to make their accounting help (http://tutorteddy.com/free_accounting_homework_help.php) or Finance help (http://tutorteddy.com/free_finance_homework_help.php) or Statistics help (http://tutorteddy.com/site/free_statistics_help.php) customers able to pay using Bitcoin, Litecoin or other crypto currencies.


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