29 Mar '13, 9pm

Feds Take A Step Closer To Trying To Regulate Bitcoin

Feds Take A Step Closer To Trying To Regulate Bitcoin from the control-control-control dept We're still somewhat skeptical about the longterm prospects for Bitcoin, even if it has shown the ability to rebound after its initial hypecycle crashed . However, we've always known that the government was uncomfortable with the concept of Bitcoin. From Senator Chuck Schumer insisting that it was money laundering to the FBI exploring the technology, you knew that sooner or later the government would try to do something. Recently, they took a step in the direction of trying to gain some tiny bit of control over Bitcoin by having the Financial Crimes Enforcement Network (FinCEN) issue new guidelines concerning rules for (unnamed) "de-centralized virtual currency." Basically, the rules say that "money services businesses" including "money transmitters" will have to report "potentially...

Full article: http://www.techdirt.com/articles/20130325/03034522451/fed...

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