Bitcoin to be regulated: Government

Bitcoin Virtual Cash Gets Money-Laundering Rule

online.wsj.com 22 Mar '13, 1am

Bitcoin to be regulated: Government

The U.S. is applying money-laundering rules to "virtual currencies," amid growing concern that new forms of cash bought on the Internet are being used to fund illicit activities. Enlarge Image Close Agence France-Presse/Getty Images The Treasury says money-laundering rules apply to 'virtual currencies.' The move means that firms that issue or exchange the increasingly popular online cash will now be regulated in a similar manner as traditional money-order providers such as Western Union Co. They would have new bookkeeping requirements and mandatory reporting for transactions of more than $10,000. Moreover, firms that receive legal tender in exchange for online currencies or anyone conducting a transaction on someone else's behalf would be subject to new scrutiny, said proponents of Internet currencies. The rising popularity of virtual currencies, while no more than a drop ...

Full article: http://online.wsj.com/article/SB1000142412788732437320457...

Tweets

@mshapiro » 26 Mar '13, 5am
@WSJ: #BitCoin players now blessed with joys of #regulations and #compliance of international #moneytransfer. #aml [link]
@YaelOss » 24 Mar '13, 5pm
Bitcoin Virtual Cash Puts U.S. Regulators' Panties In a Bunch [link]
@remkobakker » 22 Mar '13, 4pm
The U.S. is applying money-laundering rules to "virtual currencies" like #Bitcoin #Compliance [link]
@jeremyridesbike » 22 Mar '13, 3pm
Looks like the #bitcoin is finally getting looked at by the Feds. Was only a matter of time I think. [link]
@GLMotorSports » 22 Mar '13, 1pm
RT @billhorvath: Hey #bitcoin users - Watch your six. The feds are closing in: [link] #li
@iamkap » 22 Mar '13, 12pm
RT @pete_earle: And the war on #bitcoin officially begins: [link] #anarchy #liberty #tyranny #gold #silver #economics #money
@pete_earle » 22 Mar '13, 11am
And the war on #bitcoin officially begins: [link] #anarchy #liberty #tyranny #gold #silver #economics #money
@l4rz » 22 Mar '13, 7am
bitcoin-caused butthurt? "the U.S. is applying money-laundering rules to virtual currencies" [link]
@billhorvath » 22 Mar '13, 4am
Hey #bitcoin users - Watch your six. The feds are closing in: [link] #li
@EconomiaVeraz » 22 Mar '13, 4am
USA Fed desesperado por auge del BitCoin buscan asociarlo a operaciones ilícitas de lavado [link] @AlfredoJalife @memobarba
@Bailey4COCD2 » 22 Mar '13, 4am
Feds cannot abide a competitor 4 legal tender. Bitcoin is under investigation using drug war laws 4 money laundering. [link]
@NOH8ER » 22 Mar '13, 3am
RT @BitcoinOz: Bitcoin Gets Laundering Rule [link] #bitcoin
@raysawhill » 22 Mar '13, 2am
The Treasury starts to crack down on Bitcoin. [link]
» 22 Mar '13, 2am
Bitcoin sob ataque dos 'banksters' do costume. Que eu saiba o dinheiro mais usado em atividades criminosas de... [link]
@geigster » 22 Mar '13, 2am
US moves to head off the BitCoin Stampede. Uses fun words like 'money laundering' (WSJ) [link] @trawg @mpesce @ashirben
@hnfirehose » 22 Mar '13, 2am
Bitcoin Gets Laundering Rule: [link]
@matthewphogan » 22 Mar '13, 2am
I guess this means Bitcoin is growing up [link] #BTC
@FreeSmart » 22 Mar '13, 1am
Bitcoin to be regulated: [link] Government bullies fail yet again to keep their hands to themselves. #Tyranny #BTC
@FreeSmart » 22 Mar '13, 1am
Bitcoin to be regulated: [link] Government busybodies decline to keep their hands to themselves. #Tyranny
@BitcoinOz » 22 Mar '13, 2am
Bitcoin Gets Laundering Rule [link] #bitcoin

Bitcoin Virtual Cash Gets Money-Laundering Rule

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