Bitcoin and Other Virtual Currencies Finally Get Some Regulation

gizmodo.com 22 Mar '13, 5pm

Bitcoin and Other Virtual Currencies Finally Get Some Regulation

Mario Aguilar View Profile Email Twitter Google Plus RSS Companies that distribute and exchange Bitcoin will now be subject to the same rules as Western Union. The hope is to crackdown on Bitcoin-related crime. Regulating virtual currencies is tricky because it's hard to do it without admitting that they're legitimate in some way. But given the surge in Bitcoin's popularity—and its utility as the currency of choice for drug dealers, gun runners, and other baddies—the US government had to do something. The new "guidance" issued by the US Treasury Department's Financial Crimes Enforcement Network is very careful to draw a line between real and virtual currency. The real stuff is official government tender : FinCEN's regulations define currency (also referred to as "real" currency) as "the coin and paper money of the United States or of any other country that [i] is designate...

Full article: http://gizmodo.com/5991951/bitcoin-and-other-virtual-curr...

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@truthtrance » 17 Apr '13, 10pm
RT @varatiki: Bitcoin and Other Virtual Currencies Finally Get Some Regulation [link] Tax everything! #tech #biz
@varatiki » 16 Apr '13, 7am
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@NassredeanNasse » 05 Apr '13, 6pm
RT @TimothyJohnNYU: Finally, some regulations are placed on the bitcoin. Would be interesting to see the network of exchanges [link] #ncm13nyu
@TimothyJohnNYU » 05 Apr '13, 3am
Finally, some regulations are placed on the bitcoin. Would be interesting to see the network of exchanges [link] #ncm13nyu
@wnnbl » 24 Mar '13, 7pm
the new US govt rules allow you to trade within £6,000 ( roughly 800 bitcoin) [link]
@WishforRBE » 24 Mar '13, 1pm
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@jeromebottari » 23 Mar '13, 11am
BitCoin is now regulated -- that was inevitable. Do you think BitCoin is the answer? [link]
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RT @muschifuss998: Whether "real" currency or not, U.S. Treasury finally puts BITCOIN under the magnifying glass [link] MT via @Gizmodo
@muschifuss998 » 23 Mar '13, 12am
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@ThinksAmoral » 22 Mar '13, 10pm
Virtual Currencies To Be Regulated. [link]
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Companies that distribute & exchange Bitcoin will now be subject to same regulatory rules as Western Union | [link]
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