23 Mar '13, 3pm

Government Applies New Money Laundering Rules to Bitcoin, Defeating the Purpose of Bitcoin

Using Bitcoin to launder all the cash from your illegal dealings just got a little harder. The United States Treasury Department just enacted new rules to regulate Bitcoin and other virtual currencies, making it subject to the same level of scrutiny as other forms of currency . That’s bad news for anyone looking to launder money using Bitcoin, but it could be good news for proponents of virtual currency for legitimate purposes. The new rules will see Bitcoin and its ilk regulated in a similar fashion to how the government deals with traditional money-order services like Western Union . Little is expected to change for individuals trading in Bitcoins, but businesses will be required to keep more detailed records of the transactions. There will also now be a rule that any transactions over $10,000 must be reported. The measures are aimed at stopping illegal activity like mon...

Full article: http://www.geekosystem.com/bitcoin-laundering-rules/

Tweets

U.S. Applies New Money Laundering Rules to Bitc...

mashable.com 23 Mar '13, 3pm

Using Bitcoin to launder all the cash from your illegal dealings just got a little harder. The United States Treasury Depa...

U.S. Treasury to Bitcoin: We Are Watching via @...

spectrum.ieee.org 23 Mar '13, 1am

Two years ago, when Gavin Andresen, the lead developer of the Bitcoin software was invited by the CIA to present his thoug...

U.S. Treasury to Bitcoin: We Are Watching

spectrum.ieee.org 22 Mar '13, 4pm

Two years ago, when Gavin Andresen, the lead developer of the Bitcoin software was invited by the CIA to present his thoug...

Bitcoin Red Alert! U.S. Treasury Announces Money Laundering Rules Apply To "Virtual Currencies"

Bitcoin Red Alert! U.S. Treasury Announces Mone...

dailypaul.com 22 Mar '13, 7pm

The U.S. is applying money-laundering rules to "virtual currencies," amid growing concern that new forms of cash bought on...

Bitcoin Alert: The U.S. Treasury Announces Mone...

economicpolicyjournal.com 22 Mar '13, 12pm

The U.S. is applying money-laundering rules to "virtual currencies," amid growing concern that new forms of cash bought on...

US Beg...

US Beg...

leaksource.wordpress.com 23 Mar '13, 8pm

Last November, in an act of sheer monetary desperation, the ECB issued an exhaustive, and quite ridiculous, pamphlet title...

Bitcoin Alert: The U.S. Treasury Announces Mone...

infowars.com 22 Mar '13, 6pm

WSJ reports : The U.S. is applying money-laundering rules to “virtual currencies,” amid growing concern that new forms of ...

U.S. puts money-laundering rules on "virtual cu...

online.wsj.com 22 Mar '13, 4am

The U.S. is applying money-laundering rules to "virtual currencies," amid growing concern that new forms of cash bought on...

Bitcoin To Be Regulated Under US Money Launderi...

yro.slashdot.org 22 Mar '13, 4pm

First, a small point: the laws apply to ALL transactions. The laws for MANDATORY reporting are at $10,000. If a financial ...

The U.S. is applying money-laundering rules to ...

live.wsj.com 22 Mar '13, 5pm

... I ... fascinating story on C1 today about the way that joblessness went to the moment that will ... cease ... to ... b...

Is the US government trying to regulate Bitcoin?

theverge.com 20 Mar '13, 8pm

The community around Bitcoin, the fast-growing virtual currency that sustains an economy worth more than $650 million , ha...

Bitcoin

online.wsj.com 21 Mar '13, 11pm

The U.S. is applying money-laundering rules to "virtual currencies," amid growing concern that new forms of cash bought on...

Treasury Department: Bitcoin Dealers Are Regula...

jdsupra.com 20 Mar '13, 6pm

Timothy Lee at Forbes magazine has reported today that the Financial Crimes Enforcement Network (FinCEN), a branch of the ...

Bitcoin to be regulated: Government

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

The U.S. is applying money-laundering rules to "virtual currencies," amid growing concern that new forms of cash bought on...

LIKE A PHONE DIRECTORY ★Bitcoin Privacy Extension to Have Backdoor for Government Snooping?

LIKE A PHONE DIRECTORY ★Bitcoin Privacy Extensi...

activistpost.com 24 Mar '13, 8am

Bitcoin banknote concept - Wikimedia Commons Bankers are desperate to force governments into regulating decentralized virt...