Bitcoin

New Money Laundering Guidelines Are A Positive Sign For Bitcoin

forbes.com 19 Mar '13, 8pm

Bitcoin

Over at Ars Technica I reported on news that the Financial Crime Enforcement Network (FinCEN) has issued new guidelines on the legal status of Bitcoin under the nation’s money laundering laws. In a nutshell, Bitcoin exchanges (which exchange Bitcoins for conventional currencies) and most Bitcoin miners (servers that process Bitcoin transactions and are rewarded for their efforts by “minting” new Bitcoins) are required to register as Money Services Businesses (MSBs) and comply with anti-money laundering regulations. Ordinary Bitcoin users are not required to register as MSBs if they merely use the currency to purchase goods and services. The announcement has prompted a fair amount of consternation among Bitcoin fans in the Ars comment section, with people suggesting that this is the first step in a federal crackdown on Bitcoin. But I think it’s closer to the opposite. I’m n...

Full article: http://www.forbes.com/sites/timothylee/2013/03/19/new-mon...

Tweets

@wenneke » 31 Mar '13, 12pm
New Money Laundering Guidelines Are A Positive Sign For Bitcoin - Forbes [link] #paperli
@charlesfrith » 26 Mar '13, 9am
RT @TrantorInc: New Money Laundering Guidelines Are A Positive Sign For Bitcoin: [link]
@SergioRJr » 21 Mar '13, 2pm
FinCEN to regulate Bitcoin [link] #currency
@XVagg » 21 Mar '13, 2pm
FinCEN cracks down on Bitcoins [link] #bitcoins #FinCEN @amsecproject
@RossSchulman » 21 Mar '13, 2pm
RT @allanfriedman: Bitcoin exchanges fall under regulatory jurisdiction. Which was obvious to anyone following 20 years of digital $ [link]
@CriminalGenius » 21 Mar '13, 1pm
AML rules and BitCoin… [link]
@allanfriedman » 21 Mar '13, 11am
Bitcoin exchanges fall under regulatory jurisdiction. Which was obvious to anyone following 20 years of digital $ [link]
@priscillaoppy » 20 Mar '13, 8pm
Interesting take on Bitcoin and new money laundering guidelines: [link]
@halbringman » 20 Mar '13, 8pm
New Money Laundering Guidelines Are A Positive Sign For #Bitcoin, suggests Forbes. Hints no intent to shut it down [link]
@VictorRocha1 » 20 Mar '13, 5pm
RT @CAGamingLawyer: U.S. Treasury Department, issues new guidelines on the legal status of #Bitcoin under U.S. money laundering laws [link]
@TMPRisk » 20 Mar '13, 5pm
Bitcoin miners required to register as MSBs and comply with #moneylaundering regulations. Bitcoin users exempt [link]
@danielbmarkham » 20 Mar '13, 3pm
This guy thinks new money laundering laws hitting bitcoin is a good thing? Huh? [link]
@parkernow » 20 Mar '13, 12pm
A couple of great articles from@BinaryBits about the non-crackdown on bitcoins: [link] and [link]
@GRCinfo » 20 Mar '13, 12pm
RT @complianceryan: New Money Laundering Guidelines Are A Positive Sign For Bitcoin - Forbes [link]
@UnoCoin » 20 Mar '13, 11am
RT @coinlab: New Money Laundering Guidelines Are A Positive Sign For Bitcoin - Forbes [link]
@GNULinuxGuy » 20 Mar '13, 9am
RT @BitcoinByte: "New Money Laundering Guidelines Are A Positive Sign For Bitcoin" <or ARE they???- see comments> #Bitcoin #FinCEN [link]
@BitcoinByte » 20 Mar '13, 9am
"New Money Laundering Guidelines Are A Positive Sign For Bitcoin" <or ARE they???- see comments> #Bitcoin #FinCEN [link]
@plugandplay_tv » 20 Mar '13, 6am
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@GNULinuxGuy » 20 Mar '13, 2am
RT @markvanherpen: great news for #bitcoin - New Money Laundering Guidelines Are A Positive Sign For Bitcoin - Forbes [link]
@BitcoinOz » 20 Mar '13, 1am
New Money Laundering Guidelines Are A Positive Sign For Bitcoin: Over at Ars Technica I reported on n... [link] #bitcoin
@ManifestStefany » 20 Mar '13, 1am
New Money Laundering Guidelines Are A Positive Sign For Bitcoin: Over at Ars Technica I reported on news that th... [link]
@netriver » 19 Mar '13, 10pm
RT @BitCoinReporter: New Money Laundering Guidelines Are A Positive Sign For Bitcoin - Forbes [link] #bitcoin
@MistigRam » 19 Mar '13, 9pm
RT @OpenClickDone: #Bitcoin New Money Laundering Guidelines Are A Positive Sign For Bitcoin [link]
@Money_Updates » 19 Mar '13, 9pm
Money Updates New Money Laundering Guidelines Are A Positive Sign For Bitcoin: Over at Ars Technica I reported... [link]
@moneydollars » 19 Mar '13, 9pm
New Money Laundering Guidelines Are A Positive Sign For Bitcoin - Forbes: Ars TechnicaNew Money Laundering Gui... [link]
@aweinstein_RSS » 19 Mar '13, 9pm
Disruptive Econ: New Money Laundering Guidelines Are A Positive Sign For Bitcoin [link]
@markvanherpen » 19 Mar '13, 8pm
great news for #bitcoin - New Money Laundering Guidelines Are A Positive Sign For Bitcoin - Forbes [link]
@PowerOnDigital » 19 Mar '13, 8pm
Since when was money laundering a good thing? Since... [link] #business #news #hotnews
@BitcoinStarter » 19 Mar '13, 8pm
RT @binarybits: New money laundering guidelines are a positive sign for Bitcoin. [link]
@collinsroger78 » 19 Mar '13, 8pm
New Money Laundering Guidelines Are A Positive Sign For Bitcoin: Over at Ars Technica I reported on news that ... [link]
@CAAglobalmedia » 19 Mar '13, 8pm
New Money Laundering Guidelines Are A Positive Sign For Bitcoin: Over at Ars Technica I reported on ... [link] Forbes EU
@AML_Report » 19 Mar '13, 8pm
Forbes: New Money Laundering Guidelines Are A Positive Sign For Bitcoin [link]
@binarybits » 19 Mar '13, 8pm
New money laundering guidelines are a positive sign for Bitcoin. [link]
@collinsroger78 » 19 Mar '13, 8pm
New Money Laundering Guidelines Are A Positive Sign For Bitcoin: Over at Ars Technica I reported on news that ... [link]
@CAAglobalmedia » 19 Mar '13, 8pm
New Money Laundering Guidelines Are A Positive Sign For Bitcoin: Over at Ars Technica I reported on ... [link] Forbes EU