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Battlion
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Aug 13 2014, 08:39 AM
Post #136
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AURENTINA TODAY
Independent Judicial Appointments Commission reveals five nominations for Supreme Court Nominations
 The Independent Judicial Appointments Commission has put forward it's five main nominations for the Supreme Court, Parliament is expected to hold confirmation votes in the coming weeks.
10:21 - 22nd July 2028
SUPREME COURT - The Independent Judicial Appointments Commission has recommended five individuals to take seats in the new Supreme Court, all of the nominations have had previous legal experience in Aurentine courts. The Government stated that it intends to hold confirmation votes on every nomination in the coming days.
The five nominations have been named as:
- Darden Vance - Age: 68 (Former District Judge)
- Julia Wilcox - Age: 43(Serving High Court Judge)
- Kenneth Easton - Age: 49 (State Barrister)
- Wallace Dean - Age: 56 (Former District Judge)
- Anna Roberts - Age: 35 (Serving State Solicitor)
Critics have claimed that the nominations represent a "formation of the old guard" with the average age of the court being 50.2. Some Commentators say the nominations are more than likely to be approved with enough Conservative, Prosperitas and Social Democrat support for the nominations.
Check back with Aurentina Today soon for more news! |
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Battlion
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Aug 13 2014, 10:49 AM
Post #137
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AURENTINA TODAY
Government announces Cryptocurrencies policy following NetCoin Review
 The Government has announced it's stance on CryptoCurrencies following the launch of the NetCoin following a review led by the Treasury which has proposed a legal framework for Cryptocurrencies to operate in Aurentina.
16:21 - 23rd July 2028
CRYPTOCURRENCIES - The Chancellor of the Exchequer announced the government's policy towards Cryptocurrencies as a "sensible and cautious step" by seeking to impose a full legislative framework on all Cryptocurrencies and not just the NetCoin alone.
The report released by the Treasury titles as "The Future of Currency in a Modern Aurentina" discusses the rise of cryptocurrencies and proposes a variety of different legislative tools available including the outright ban of such currencies, however the government has decided to look down an alternative route in government regulation over such currencies.
The legislative framework that the government has said it will seek to adopt can be seen below:
- All Companies engaging in Virtual Currency Activity shall be required to hold a Currency License to be set out under Aurentine law and judged by the Treasury
- Virtual Currency Activity shall be defined as conduct of any of the following types of activity
- receiving Virtual Currency for transmission or transmitting the same;
- securing, storing, holding or maintaining custody or control of Virtual Currency on behalf of others;
- buying and selling Virtual Currency as a customer business
- performing retail conversion services, including the conversion or exchange of fiat currency or other value into Virtual Currency, the conversion or exchange of virtual currency into fiat currency or other value, or the conversion or exchange of one form of Virtual Currency into another form of Virtual Currency; or
- controlling, administering or issuing a virtual currency.
- However, those that mine cryptocurrencies or accept payment of cryptocurrencies shall not require a Currency License to operate in Aurentina.
- Compliance with a Currency License shall require compliance with;
- anti-money laundering laws
- consumer protection laws
- cybersecurity laws
- Existing companies shall be required to apply for a currency license within 45 days of the legislative framework being passed into law, however shall be given preliminary approval to allow them to continue to operate whilst the application is considered. Failure of Existing Companies to apply for a currency license within 45 days will lead to criminal prosecution and/or government intervention in the operations of the company.
- Applicants shall be required to submit the following information;
- affiliates of the applicant
- biographical information of applicant and affiliates
- background report on applicant and all affiliates to be prepared by an Independent Agency
- fingerprints and photographs of applicant and affiliates
- a current financial statement
- Descriptions of the applicant's past, current and future businesses, details of all banking arrangements, all written policies and procedures , copies of insurance policies and an explanation of how a virtual currency shall be calculated into a fiat currency
- A Non-Refundable Application Fee of $500
- An Application, once received by the Treasury, shall have a time limit of 90 days to be approved or rejected unless a time extension is required and made aware to the applicant for further investigation or consideration of evidence
The Social Democrats have said they will back the proposals from the government, however warned that governments must not be afraid to regulate further if needed and that failure to comply with the regulatory framework should be followed by criminal prosecution and direct government action to shutdown the company.
The Government has responded to these warnings saying that it shall "consistently monitor the policy" and shall "be prepared to directly act when needed". The Government further plans to introduce the regulations to Parliament through a Legislative instrument called Parliament Policies which shall be laid before the Parliament for a month, if a chamber successfully motions for a vote both chambers shall be required to vote on the proposals and if not then the policy shall become law following a month.
Some MP's and Senators have stated their dissatisfaction that the regulatory framework shall be a Parliament Policy instead of direct legislation citing that it automatically "weakens the regulations" whilst Government officials maintain that the long term aim would be to solidify the policy into law following the 2029 election. Check back with Aurentina Today soon for more news! |
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Battlion
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Aug 13 2014, 09:12 PM
Post #138
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AURENTINA TODAY
Former Deputy-Prime Minister Elizabeth Nixon has firstborn Son
 Elizabeth Nixon, Former-Deputy Prime Minister and Leader of Prosperitas has given birth to a "healthy and energetic" son reports state from Evanshire National Hospital, whilst no official name has been released the couple are said to be "overjoyed" at the arrival of their son. 15:48 - 24th July 2028
BABY - Elizabeth Nixon, the former leader of Prosperitas and former Deputy-Prime Minister has given birth to a healthy baby boy at the Evanshire National Hospital in the last few hours early reports indicate. Whilst there has been no official statement from the Former-Deputy Prime Minister the hospital has released a brief statement announcing the birth of a "healthy and energetic son" and that there has been no indication of a name being decided.
Elizabeth Nixon has been largely credited with leading Prosperitas through a tough coalition negotiation and the bulk of it's term, despite polls generally pushing down the chances of Prosperitas in 2029 at the expense of the Social Democrats and Conservatives who are both mainly rising or staying static in the polls.
The Prime Minister congratulated the couple on the new arrival and said that "Elizabeth, a great and hardworking stateswoman, will be an even greater and hardworking mother" and despite political differences it has been reported that the Prime Minister has been "personally helpful" to Elizabeth Nixon during her pregnancy.
She has not yet ruled out quitting as an MP, with the 2029 election looming and candidate selection soon to begin it appears she is still considering her options.
Update @ 18:51 - Official Statement reveals baby's name to be Joshua Patrick Nixon
Check back with Aurentina Today soon for more news! |
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Battlion
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Aug 15 2014, 07:38 AM
Post #139
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AURENTINA TODAY
Aurentine Government announces intention to join The Great Entente
 The Government announced today that it will seek approval from Parliament for Aurentina to join The Great Entente on the basis of "serious economic expansion, diplomatic empowerment and adequate protections for the sovereignty of the member states" if approved Aurentina would be the first Nysan nation to join The Great Entente. 13:21 - 28th July 2028
GREAT ENTENTE - The Aurentine Government announced today that it will seek permission from the National Parliament to join the Great Entente, which if approved would make Aurentina the first such member that is fundamentally Nysan.
Aurentina Today revealed last year that the Prime Minister turned away from the formation of an Nysan Economic Union, which to this day has still not begun, it appears that this time the Prime Minister will ask the National Parliament for approval to join such an alliance despite the government officially having the powers to legally sign without a vote.
The Government released this statement with the announcement:
"It is the intention of the Aurentine Government, with the explicit consent of the National Parliament and it's elected representatives, to join The Great Entente to further boost our serious economic expansion into the Caprecian markets, to empower our diplomatic options with new friends and allies to also be working in the best interests of Aurentina and to ensure that whilst Aurentina is not isolated in the world it will not be ceding national sovereignty on a large scale to a foreign bureaucracy.
We shall consider it appropriate to apply for membership once the National Parliament has given their permission to engage in such an alliance, we believe it is important that the elected representatives of the Aurentine people have their say on behalf of our people to decide if Aurentina embarks upon such a step.
We further consider it suitable that the nation have a serious conversation about the Great Entente regularly, therefore if membership is achieved we will introduce legislation making it compulsory for a referendum to be held every five years on our membership of the alliance where people will have a genuine choice about our future with this alliance.
The Government shall seek to motion for votes when negotiations are complete, we intend to seek a referendum on the Great Entente following membership with the full powers to be able to leave the alliance without fear or regret if the people of Aurentina vote against our stance."
For the votes to pass, a simple majority shall be sufficient however it is likely that the government will want as much unanimous agreement as possible amongst the three major parties.
Check back with Aurentina Today soon for more news! [/i] |
Edited by Battlion, Aug 15 2014, 11:43 AM.
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Battlion
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Aug 15 2014, 12:06 PM
Post #140
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AURENTINA TODAY
National Exam Results emerge: Evanshire tops performance tables once again
 Exam Results have been released today across the country, with varying news in terms of performance and the total of examination entries receiving between an A*-C failing to reach 70% has seen the government announce it's intentions to push through the new curriculums and qualifications for this year.. 08:21 - 1st August 2028
EXAM RESULTS - It's a mixed picture, many teenagers will open their envelopes today to find they have achieved the grades they want. To be specific, 69% of teenagers will find out that they have achieved an A*-C in an examination which has been slammed by the Government and Opposition as being a sign that education is failing in Aurentina.
The Department of Education issued guidance earlier this year to exam boards to increase grade boundaries, this seems to have disproportionately hit those hovering between a C and a D where if the majority of candidates sat their exams last year they would have achieved a different grade to the one they received. Teachers have called this move unfair, and that it "shows government tinkering".
The Government responded saying that it would push the Education (Qualifications & Curriculum) Reform Act through it's final stage of the Senate in the coming days to ensure that next year "students get the grades they earn" and that the "culture of failing no longer exists".
Below you may see the statistics released by the Department of Education:
General Aurentine Certificates (Year 10-11/ 15 & 16 Year Olds) Total of % of Grades distributed
A* - 7% A - 20% B - 23% C - 19% D - 24% E - 3% F - 2% U/X - 1%
27% of Entries received A*-A 69% of Entries received A*-C (C being Grade recognised as adequate level for a pass) 9% of Entries were within 1-5 marks of upping their grade from D to C 26% of Entries were within 1-5 marks of upping their grades from any grade
GAC Regional Performance Table
1: Evanshire - 84% 5 A*-C (2027 Performance: 83%) 2: Falldell - 83% 5 A*-C (2027 Performance: 79%) 3: Aldbeach - 82% 5 A*-C (2027 Performance: 81%) 4: Wyvernbank - 79% 5 A*-C (2027 Performance: 79%) 5: Dellgate - 73% 5 A*-C (2027 Performance: 72%) 6: Blackford - 70% 5 A*-C (2027 Performance: 71%) 7: Glasslyn - 69% 5 A*-C (2027 Performance: 70%) 8: Springhaven - 65% 5 A*-C (2027 Performance: 58%) 9: Bushhall - 62% 5 A*-C (2027 Performance: 63%) 10: Estershade - 61% 5 A*-C (2027 Performance: 64%) 11: Dorford - 59% 5 A*-C (2027 Performance: 57%) 12: Woodcrest - 57% 5 A*-C (2027 Performance: 53%)
Most Improved GAC Table
1: Springhaven: +7% 2: Falldell/Woodcrest: +4% 4: Dorford: +2% 5: Evanshire/Aldbeach/Dellgate: +1% 8: Wyvernbank: +0% 9: Blackford/Glasslyn/Bushhall: -1% 12: Estershade: -3%
The Department of Education, additionally released an alternative set of data showing how students would have performed if the new Aurentine National Certificates Qualifications had been used this year:
GAC Results if using Aurentine National Certificates Structure) 2028 GAC Results (IF using Government Reforms)
1*: 10%
1: 9% 2: 10% 3: 17%
4: 20% 5: 13% 6: 16%
7: 2% 8: 2% 9: 1%
10% of Entries received 1* (Top 10% of Entries aka Aurentine Advanced Certificate) 36% of Entries received 1-3 (Aurentine Higher Certificate) 49% of Entries received 4-6 (Aurentine Intermediate Certificate) 5% of Entries received 7-9 (Aurentine Standard Certificate)
The Government has indicated that a grade 5 would roughly be the equivalent of a C grade at current levels, however noted that the curriculums would be different and more challenging under the new structures.
Aurentina Today congratulates all Aurentine Students on their results today!
Check back with Aurentina Today soon for more news! [/i] |
Edited by Battlion, Aug 15 2014, 12:09 PM.
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Battlion
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Aug 15 2014, 02:27 PM
Post #141
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AURENTINA TODAY
Department of Business announces Saiko Aeronautical Factory Plan
 Saiko Aeronautical has reportedly agreed a new investment deal with the Aurentine Government, reportedly bringing nearly 19,000 jobs, the deal would see a new factory being built in Harrowsburg (Blackford) that would be building commercial aircraft for sale in Nysa. 14:32 - 2nd August 2028
SAIKO AERONEUTICALS - The Department of Business hailed the Saiko Aeronautical deal as "excellent news for Aurentina, that highlights the successful economic and taxation policies of this government". With nearly 19,000 new jobs promised under the deal (17,000 of those jobs for once the factory is built), Saiko Aeronautical has taken advantage of some of the more Business-Friendly policies that the Coalition government has been pursuing since it's formation in 2026.
The deal would see the new factory building three of Saiko Aeronautical's high-value aircraft these being the SU-530, SU-540 and the SU-570, the location of the factory in Harrowsburg (Blackford) was described as "fantastic for all of us" from the First Minister of Blackford Xavier Slough who leads a Regional Coalition Executive between the Conservative Party and the Blackford Independence Party.
When questioned by Aurentina Today on why Saiko Aeronautical chose Aurentina for the location of it's second assembling factory the CEO of Saiko Aeronautical Yabara Motimiya said:
"Tax, that was one of the major reasons. Aurentina's FairTax policy played a major role, along with its location and other minor details"
Reportedly, Yabara Motimiya has been heard to say that he would recommend the FairTax system used by Aurentina to the Sainamese government.
The Prime Minister Harold Hawthorne seized on the comments as a good highlight that "the FairTax was delivering investment for Aurentina", whilst the Leader of the Opposition Emily Marsden chided the comments saying that "businesses are not coming for the people, merely for the tax bill and that is wrong".
Estimated construction time is two years and ten months. With aircraft assembly beginning in the first quarter of 2031, according to figures released jointly by the Department for Business and Saiko Aeronautical.
You can find out more about Saiko Aeronautical here.
Check back with Aurentina Today soon for more news! |
Edited by Battlion, Aug 15 2014, 02:53 PM.
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Battlion
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Aug 16 2014, 10:53 PM
Post #142
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AURENTINA TODAY
People's Chamber & Senate confirm Supreme Court Nominations
 Both the People's Chamber and the Senate have confirmed all five of the Supreme Court Nominations that the Independent Judicial Appointments Commission put forward, the new Supreme Court shall begin sitting on the 1st September.
15:23 - 4th August 2028
SUPREME COURT - The People's Chamber and the Senate have approved the nominations from the Independent Judicial Appointments Commission for Justices to the Supreme Court, the People's Chamber and the Senate opted to vote for each candidate individually rather than all the justices as a package.
The Supreme Court Justices are:
- Justice Darden Vance - Age: 68
- Justice Julia Wilcox - Age: 43
- Justice Kenneth Easton - Age: 49
- Justice Wallace Dean - Age: 56
- Justice Anna Roberts - Age: 35
All bar Justices Easton and Robert have served as a Judge in some capacity, with Justice Easton having been a State Barrister before being nominated for the Supreme Court and Justice Roberts being a serving State Solicitor before being nominated to the Supreme Court.
Some critics of the nominations criticise the "age" of the court where the average age is 50.2 and have further gone to express concerns that when Justices are nominated they could nominate "older individuals" to ensure there are new nominations regularly. The Supreme Court Act does not give a compulsory retirement age for Supreme Court Justices, instead they are able to resign when they wish or can be removed by a vote in Parliament when a Justice has gone beyond the law or broken the law in a way that is seen to be "malicious and with intent".
Other Commenators however have praised the process as being "highly non-partisan" however noted that it would be unclear the overall makeup and formation of the court in terms of beliefs and rulings until the Supreme Court begins to sit at the start of September.
Cases are already stacking up for the new Supreme Court to hear once it begins sitting, with over 150 cases currently lodged ranging from criminal offences to civil matters, the Supreme Court will decide which cases it wishes to hear or may turn away a case and uphold a lower court ruling if necessary. Or a the Supreme Court can defer the case to begin again at the bottom of the judicial system if needed, rulings can include overturning sentences, sorting disputes, clarifying the law, interpretation of the law and can give specific orders to the National Government, National Parliament and any of the Regional counterparts.
What has been made clear in this legislation is... the Supreme Court is Supreme...
Check back with Aurentina Today soon for more news! |
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Battlion
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Aug 17 2014, 10:54 AM
Post #143
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AURENTINA TODAY
Government U-Turns Parliamentary Policy on Digital Currencies by introducing direct Legislation
 The Aurentine Government announced that it will hold a Joint Session of Parliament on legislation over CryptoCurrencies following a review on future policy options.
12:23 - 7th August 2028
CRYPTOCURRENCIES - The Aurentine Government has announced a U-Turn over it's way to implement regulation on CryptoCurrencies, previously the government had committed to introducing a Parliamentary Policy instead of legislation. However, following pressure from MP's and Senators from all parties the government has opted to introduce direct legislation and host a Joint Session of Parliament to rush the legislation through.
The CryptoCurrency Regulation Act shall contain the following regulations:
- All Companies engaging in Virtual Currency Activity shall be required to hold a Currency License to be set out under Aurentine law and judged by the Treasury
- Virtual Currency Activity shall be defined as conduct of any of the following types of activity
- receiving Virtual Currency for transmission or transmitting the same;
- securing, storing, holding or maintaining custody or control of Virtual Currency on behalf of others;
- buying and selling Virtual Currency as a customer business
- performing retail conversion services, including the conversion or exchange of fiat currency or other value into Virtual Currency, the conversion or exchange of virtual currency into fiat currency or other value, or the conversion or exchange of one form of Virtual Currency into another form of Virtual Currency; or
- controlling, administering or issuing a virtual currency.
- However, those that mine cryptocurrencies or accept payment of cryptocurrencies shall not require a Currency License to operate in Aurentina.
- Compliance with a Currency License shall require compliance with;
- anti-money laundering laws
- consumer protection laws
- cybersecurity laws
- Existing companies shall be required to apply for a currency license within 45 days of the legislative framework being passed into law, however shall be given preliminary approval to allow them to continue to operate whilst the application is considered. Failure of Existing Companies to apply for a currency license within 45 days will lead to criminal prosecution and/or government intervention in the operations of the company.
- Applicants shall be required to submit the following information;
- affiliates of the applicant
- biographical information of applicant and affiliates
- background report on applicant and all affiliates to be prepared by an Independent Agency
- fingerprints and photographs of applicant and affiliates
- a current financial statement
- Descriptions of the applicant's past, current and future businesses, details of all banking arrangements, all written policies and procedures , copies of insurance policies and an explanation of how a virtual currency shall be calculated into a fiat currency
- A Non-Refundable Application Fee of $500
- An Application, once received by the Treasury, shall have a time limit of 90 days to be approved or rejected unless a time extension is required and made aware to the applicant for further investigation or consideration of evidence
- Issuers of Digital Currencies shall be required to store the IP Addresses of users, these may only be accessed by the government with a court order from any City Court, Regional Court or the High Court or even the Supreme Court if required.
The Aurentine Government launched the review following the NetCoin Development Foundation announced the NetCoin was available to use, the Chancellor of the Exchequer said that the new regulatory framework was "sensible and fair to those that use these currencies".
Update @ 14:26 - People's Chamber approves Joint Session Motion Update @ 17:58 - Senate approves Joint Session Motion Update @ 20:29 - Joint Session to be hosted on the 10th August
Check back with Aurentina Today soon for more news! |
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Battlion
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Aug 20 2014, 01:56 AM
Post #144
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Education (Qualifications & Curriculum) Reform Act becomes law intime for New School Year
 The National Parliament has passed the Education (Qualifications & Curriculum) Reform Act in time for the new school year, despite numerous protests from teaching unions and Social Democrats urging the proposals be "implemented by teachers, for the students" and not imposed by the Government in a irresponsible way.
14:56 - 15th August 2028
EDUCATION REFORM - Last month the Government announced it's intentions to replace the General Aurentine Certificate qualifications with a new National Aurentine Certificate, the plans include a complete overhaul of grading and marking alongside a new curriculum for all ages from the age of four to sixteen to deliver more rigorous courses that engage and promote learning.
The plans put forward by the government include ten different grades, up from the current 7, each with different methods of achievement and each grade determing what qualification you leave with:
- 1* - Candidate must be within the top 10% in terms of results - Candidate receives Aurentine Advanced Certificate
- 1 - Candidate must express outstanding knowledge with little error or misunderstanding - Candidate receives Aurentine Higher Certificate
- 2 - Candidate must express exceptional knowledge with small errors or misunderstanding - Candidate receives Aurentine Higher Certificate
- 3 - Candidate must express excellent knowledge with small/infrequent errors or misunderstanding - Candidate receives Aurentine Higher Certificate
- 4 - Candidate must express deep retention of knowledge with infrequent errors or misunderstanding - Candidate receives Aurentine Intermediate Certificate
- 5 - Candidate must express good retenton of knowledge with notable errors or misunderstanding - Candidate receives Aurentine Intermediate Certificate
- 6 - Candidate must express average retention of knowledge with notable errors and misunderstanding - Candidate receives Aurentine Intermediate Certificate
- 7 - Candidate expresses basic retention of knowledge with clear errors and misunderstanding - Candidate receives Aurentine Standard Certificate
- 8 - Candidate expresses little or no retention of knowledge with continous errors and examples of misunderstanding - Candidate receives Aurentine Standard Certificate
- 9 - Candidate expresses no retention of knowledge with very frequent errors and examples of misunderstanding - Candidate receives Aurentine Standard Certificate
The Government has placed the current C grade, the mininum grade deemed nationally to be a pass) at grade five currently and has said that in it's guidance to schools it recommends that every student should leave school with a mininum of five 3's and two 4's. Teachers have complained that the system was being "rushed into practice" and that they were not properly prepared to deliver the new curriculums that were being proposed.
The Government has stated that those in Years 8 and above shall indeed face the new qualifications at the end of Year 11 however shall face examinations focused on the content of their curriculums and not the new curriculum, Year's 7 and below have deemed to be able to adapt to the new curriculum and catch up if areas of knowledge have been missed from the old curriculum that are needed in the new curriculum, the Department of Education released a statement today which you can see below:
"On the 10th September, when schools nationally re-open, students will return to see a new and invigorating curriculum that challenges them, provides them opportunities and prepares them for the outside world.
Teachers have an important role to play in developing our new curriculum and we are open to any teacher's contribution on the subject, however we note that the new curriculum and qualifications have been made with direct assistance from academics, employers and teachers to ensure the curriculum is not only challenging, but also easy for high quality teachers to understand and deliver in our classrooms so that our children are set up for the best in life. We do not believe that any child should be left behind, there should be no cap on ambition and that no student leaves school without any or little qualifications to show for it.
The National Aurentine Certificate system ensure that every student leaves with a qualification and has something to show for their effort and the skill of their teachers."
Check back with Aurentina Today soon for more news!
Edited by Battlion, Aug 20 2014, 02:55 PM.
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Battlion
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Aug 20 2014, 02:52 PM
Post #145
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Social Democrats offer Prosperitas a "clean slate" in secret discussions
 The Social Democrats have reportedly been in private correspondence with Prosperitas over life after the 2029 election, including what has been seen as a "clean slate" in terms of party relations. Relations between the Social Democrats and Prosperitas have suffered since the 2026 election whilst the Government, supported by Prosperitas, has dismantled key Social Democrat policies.
18:36 - 22nd August 2028
SOCIAL DEMOCRATS - The Social Democrats are seemingly doing one thing and that is to attempt to prevent Prosperitas siding with the Conservatives again in the chance that in 2029 the Conservatives do not win outright majorities in both the People's Chamber and the Senate.
Leaked correspondence between the two parties have seen discussions raised over the "achivements of both parties" in the past, both in government and in this parliament with constitutional reform pushed through despite objections from the Prime Minister. What some commentators speculate however is that Emily Marsden, the Leader of the Opposition, knows it is extremely unlikely the Social Democrats can pull back a majority in both chambers in 2029 and in the case where the Conservatives require another Coalition partner they seek to persuade Prosperitas not to join any future Conservative-led government.
Neither party has officially responded to the claims, however the Conservative Press Office released a statement saying that whilst it was "pleased" that the Social Democrats were planning ahead that it would be "impossible for the Social Democrats to be in a position of power next year".
Check back with Aurentina Today soon for more news!
Edited by Battlion, Aug 20 2014, 02:55 PM.
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Battlion
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Aug 20 2014, 03:02 PM
Post #146
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AURENTINA TODAY
CryptoCurrency Regulation Act becomes law
 Earlier this month, a Joint Session of Parliament elected to pass the CryptoCurrency Regulation Act the sole recommendation of a government review into the subject following the establishment of the NetCoin. The National Parliament set the date of commencement to be the 26th August to ensure the government was able to get effective provisions in place for applications.
09:35 - 26th August 2028
CRYPTOCURRENCIES - The CryptoCurrency Regulation Act has become law, we shall now begin to see unchartered waters as Aurentina becomes the first nation to impose regulations on CryptoCurrencies. Several companies have stated interest in using CryptoCurrencies like the NetCoin including the arms length state company Aurentine Rail.
The CryptoCurrency Regulation Act shall contain the following regulations:
- All Companies engaging in Virtual Currency Activity shall be required to hold a Currency License to be set out under Aurentine law and judged by the Treasury
- Virtual Currency Activity shall be defined as conduct of any of the following types of activity
- receiving Virtual Currency for transmission or transmitting the same;
- securing, storing, holding or maintaining custody or control of Virtual Currency on behalf of others;
- buying and selling Virtual Currency as a customer business
- performing retail conversion services, including the conversion or exchange of fiat currency or other value into Virtual Currency, the conversion or exchange of virtual currency into fiat currency or other value, or the conversion or exchange of one form of Virtual Currency into another form of Virtual Currency; or
- controlling, administering or issuing a virtual currency.
- However, those that mine cryptocurrencies or accept payment of cryptocurrencies shall not require a Currency License to operate in Aurentina.
- Compliance with a Currency License shall require compliance with;
- anti-money laundering laws
- consumer protection laws
- cybersecurity laws
- Existing companies shall be required to apply for a currency license within 45 days of the legislative framework being passed into law, however shall be given preliminary approval to allow them to continue to operate whilst the application is considered. Failure of Existing Companies to apply for a currency license within 45 days will lead to criminal prosecution and/or government intervention in the operations of the company.
- Applicants shall be required to submit the following information;
- affiliates of the applicant
- biographical information of applicant and affiliates
- background report on applicant and all affiliates to be prepared by an Independent Agency
- fingerprints and photographs of applicant and affiliates
- a current financial statement
- Descriptions of the applicant's past, current and future businesses, details of all banking arrangements, all written policies and procedures , copies of insurance policies and an explanation of how a virtual currency shall be calculated into a fiat currency
- A Non-Refundable Application Fee of $500
- An Application, once received by the Treasury, shall have a time limit of 90 days to be approved or rejected unless a time extension is required and made aware to the applicant for further investigation or consideration of evidence
- Issuers of Digital Currencies shall be required to store the IP Addresses of users, these may only be accessed by the government with a court order from any City Court, Regional Court or the High Court or even the Supreme Court if required.
Companies now have a forty five amnesty period to apply for licenses before it is required to do so, with the new currency being so unexplored however the Government has predicted that the license applications shall be "slow to begin with" however stated that the new regulations were for the "success of Aurentina in the digital economy and success for cryptocurrency users who shall be welcomed in Aurentina".
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Battlion
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Aug 21 2014, 01:59 PM
Post #147
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AURENTINA TODAY
Sorasame announces new Aurentine Venture
 Akitsu based company Sorasame has announced that it will be shifting production towards Aurentina for the construction of their SO-66 planes, the facilities will be built across the country with facilities in Wyvernbank, Bushhall and Blackford.
10:35 - 5th September 2028
SORASAME - An Akitsu based company Sorasame has announced it's intention to shift some of it's main production facilities from Akitsu to Aurentina, reports suggest that one of the main reasons for the change has been the "incentives and opportunities" offered by "Aurentina's business-friendly tax policy".
Sorasame announced that it would shift production of it's SO-66 planes from Akitsu to Aurentina, one facilitie shall be built in Hawkfield in Wyverbank which is most commonly known as the area where the Prime Minister holds his seat in parliament. Aurentine Construction firms are reported to have been hired by Sorasame to build the new facilities which are estimated to be completed by the end of 2029.
Sorasame has contracted construction companies to build three new facilities across the countries with individual facilities located in Wyvernbank, Bushhall and Blackford. It was announced last month that Saiko Aeroneutical was to develop it's own planes in Blackford, whilst the placement of the Blackford facility has not been determined yet for Sorasame it looks set that Blackford will be the centre of new business investment from both Saiko Aeroneutical and Sorasame.
Sorasame has predicted that roughly 9000-12,000 jobs shall be created for each facility, seeing a possible 36,000 jobs created from the plans which the Government has described as "momentous for the Aurentine people" as an "opportunity to have a top-class job in what is slowly becoming a top-class economy".
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Battlion
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Aug 28 2014, 05:09 AM
Post #148
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AURENTINA TODAY
A National Update
 This is an OOC Update to make all of you aware of what will have ICly happened during my break
14:57 - 18th September 2028 - 21st November 2028
NATIONAL UPDATE - Below is a bullet list of events that will have ICly occurred over the previous gap which I'm too lazy to write posts for...
- Meeting concludes with formation of O8 - Aurentina to be a member alongside other countries
- Law & Order (Prison Ownership) Act becomes law - Private Prison contracts to begin from 2030
- Toll Road Act becomes law - National Government authorised to present Toll Road proposals to Regional Assemblies for confirmation
- National Parliament begins consideration of Devolution Packages
- Social Democrats criticise "Coalition running out of steam" with lack of new legislation
- Conservatives, Social Democrats and Prosperitas begin candidate selection for 2029 elections
- Polls indicate with 1 Year to go till election that Conservatives on track to win majorities in the People's Chamber and Senate
- Government declares Akitsu Nuclear accident an "International Emergency" and will provide humanitarian assistance
- Juries (Availability & Administration) Act becomes law - reasons for refusing Jury Service tightened, review authorised on procedures and payment of jurors if appropriate
- Government announces "Final Phase" of legislation for 2029 being "above and beyond" the Coalition Agreement with rumoured proposals including new Uranium plan following discovery of "pockets" of Uranium in Aurentina.
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Battlion
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Sep 6 2014, 11:51 PM
Post #149
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AURENTINA TODAY
A National Update
 This is an OOC Update to make all of you aware of what will have ICly happened during my break
14:57 - 22nd November 2028 - 1st March 2029
NATIONAL UPDATE - Below is a bullet list of events that will have ICly occurred over the previous gap which I'm too lazy to write posts for...
- FairTax begins 2nd Rollout - citing Prebate claims increasing
- Train Franchises begin - Department of Transport indicates September for final bids
- National Parliament to dissolve in September for Election Campaign
- First 2029 poll indicates Conservative's likely to win in November
- Election Manifestos to be announced in March
- 2029 Budget announced with savings expected of roughly $38,000,000,000
- Other events - ask me!
Check back with Aurentina Today soon for more news! |
Edited by Battlion, Sep 8 2014, 11:24 PM.
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Battlion
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Sep 8 2014, 11:22 PM
Post #150
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AURENTINA TODAY
ONS confirms 1.76% Total Economic Growth for 2028 - Debt falls to 23.3% of GDP
 In a later than usual announcement, the Office of National Statistics announced that the economy grew by 1.76% in 2028 and that debt has fallen from a total of 24.9% of GDP to 23.3%. The Government has stated that the figures are evidence that the "economic plan" is working.
12:21 - 2nd March 2029
ECONOMIC GROWTH - The ONS announced today that the economy grew by 1.76% in 2028 and that debt had fallen as a % of GDP by 1.6%. The Government has said the figures are confirmation that their plans are working, that those that have been unemployed are finding a way back to work and that Aurentina was stepping up in the world stage.
With some unnamed sources revealing that the Government is weighing up the benefits of an early election, something which has not been done in decades, it appears there may be pressure being applied to the Prime Minister Harold Hawthorne to call an election as soon as possible which many pollsters are predicting that on the back of great economic success that the Conservatives would sweep into power taking majorities in both the People's Chamber and the Senate.
With Manifesto release day being set as the 10th March, the minimum legal date for an early election could be as soon as the 7th Vernil.
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