07 Jan '13, 3pm

My reply and Stephen Gornick's reply to "Is Using #Bitcoin The Way To Play Online Poker In The US?" by @worstall

They can sieze the .com but if the service is hosted outside the U.S., there’s less that can be done. Since the online casino operator doesn’t know from where the bitcoin wagers (or bitcoin deposit transactions) are sent, all these operators could do to comply would be to block IP traffic from the U.S. (like what StrikeSapphire does already, even though they accept bitcoins as well). But even that can be easily circumvented (thanks to VPNs, or various other technologies). The problem the State has is that the winnings are paid out in bitcoins, which has “user-definable anonymity” as your fellow Forbes contributor Jon Matonis describes it. Voluntary reporting of winnings from bitcoin-based online casino gaming will likely rarely occur. Of course, the State can try to lean on the online casino operators to require obtaining identification (using AML/KYC requirements), but be...

Full article: http://www.forbes.com/sites/timworstall/2013/01/05/is-usi...

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