06 Feb '13, 9pm

Bitcoin Users Bypass Online Gambling Ban

The federal government says online gambling is a no-no. In the last few years, the Justice Department has made it very clear: You can't just open up an offshore casino online and start taking bets using actual money from the United States. But last year, a couple of entrepreneurs asked themselves — what if you were only betting with Bitcoin? "What Bitcoin does is that it totally circumvents that," says Jerry Brito, who studies the currency as part of his work as a senior research fellow at the Mercatus Center at George Mason University. "There is no Bitcoin company, there's no Bitcoin building that regulators can get their hands on. It's basically cash."

Full article: http://reason.com/24-7/2013/02/06/bitcoin-users-bypass-on...

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