15 Apr '13, 11am

How Bitcoin Sales Of Guns Could Undermine New Rules

How Bitcoin Sales Of Guns Could Undermine New Rules

Even as Congress debates gun safety legislation, a flourishing new virtual currency could provide a way around new restrictions by enabling people to buy guns online almost anonymously. Bitcoin, the currency that exists only on the Internet and is backed by the confidence of its users, rather than a government or bank, makes it easier for people to buy weapons online without detailed records of those transactions, potentially bypassing new rules put in place by lawmakers to track firearms sales. "Because the sales are anonymous, it's certainly a challenge to the idea of universal background checks for gun purchases," said Robert J. Spitzer, a professor of political science at SUNY Cortland and the author of four books on gun policy. Bitcoin has captured mainstream attention after its value soared from as little as $25 two months ago to as much as $260 this week, before fal...

Full article: http://www.huffingtonpost.com/2013/04/15/bitcoin-guns_n_3...

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