20 May '13, 4pm

After Government Raid, Jittery Future for Bitcoin

After Government Raid, Jittery Future for Bitcoin

Financial experts said they don't expect the action to throw the bitcoin world into chaos—and if regulation is coming, it might actually be welcomed. Some, though, think the government might be acting in a knee-jerk fashion. "It is a little bit of a hysterical reaction from the U.S. authorities," Jon Rushman, former managing director at BlackRock and a professor at the University of Warwick in the U.K. said in a statement "There are concerns of bitcoin being used in illegal ways, but unless there is more substantial evidence of this, I don't think there is any reason to shut down the main bitcoin exchange. U.S. dollars, Russian rubles and euros have all been used by criminals, but nobody is suggesting their central banks should be closed down and their governors imprisoned." (Read More: Bitcoin Is Gold 2.0: Venture Capitalist ) The DHS seized Mt. Gox's account with the pay...

Full article: http://www.cnbc.com/id/100750803

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