01 Jul '13, 6pm

Bitcoin trader Mt. Gox registers as currency exchange to comply with US money laundering laws

Bitcoin trading giant Mt. Gox has officially registered with the US Treasury's Financial Crimes Enforcement Network (FinCEN) in an apparent effort to comply with government regulations that have previously caused hiccups for the exchange. FinCEN recently began mandating that entities trading between Bitcoin and other currencies register as part of its financial crime investigation efforts. The potential for virtual currencies like Bitcoin to be used in money laundering schemes has been an ongoing concern, and the Treasury Department has maintained that these recent regulations are meant to address just that.

Full article: http://www.theverge.com/2013/7/1/4483266/mt-gox-fincen-re...

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