14 Jun '13, 10am

Bitcoin, other virtual currencies have "nothing to fear" from the U.S. Treasury, top regulator says.

WASHINGTON—The United States' top anti-money-laundering regulator Thursday said her agency isn't working to clamp down on virtual currencies, though authorities expect exchanges and administrators for digital cash to comply with the same rules that apply to other financial institutions. The comments may allay some concerns following high-profile moves against exchanges for virtual money. U.S. law enforcement officials last month brought charges against a group of men behind Liberty Reserve, a virtual currency site that allegedly laundered about $6 billion in ill-gotten gains. Separately, the Department of Homeland Security seized an account tied to bitcoin exchange Mt. Gox, alleging the company and a subsidiary were conducting transactions "as part of an unlicensed money service business." Bits and Pieces Mystery still surrounds Bitcoin, but buzz is growing, despite recent...

Full article: http://online.wsj.com/article/SB1000142412788732373430457...

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