08 Aug '13, 6pm
#Bitcoin is real - get over it... via @Finextra my latest post
Regulators are primarily concerned about Money Laundering and anonymity when it comes to BitCoin. While no regulator really imagines that Bitcoin will ever replace a currency like the USD or EUR, there is a perception that leaving Bitcoin unregulated will allow the free flow of illegal funds cross-border. The attempts to halt or restrict Bitcoin movement/trade, thus far, have been concentrated around efforts to stop the exchange of USD currency into Bitcoin (for example). However, the SEC ruling (as expressed through Judge Mazzant) means that rather than attempt to outlaw Bitcoin as illegal, which would just push trade underground, a more comprehensive approach is to simply treat Bitcoin like any other currency. That, however, gives Bitcoin a legitimacy that perhaps the US might have preferred to avoid for now – because if Bitcoin is considered a real currency, then preven...