18 Nov '13, 1am

Bitcoin makes a pitch for "safe and sane" regulation

Bitcoin makes a pitch for "safe and sane" regulation

Gabriel Scheare uses the world's first bitcoin ATM on Oct. 29 Waves Coffee House in Vancouver, British Columbia. (Photo: David Ryder, Getty Images) Story Highlights Federal agents say the virtual currency makes it easy for criminals to launder money Bitcoin argues that it protects users because they can avoid carrying cash Users create a "wallet" using Bitcoin software that is identified with a 33-digit code SHARE 15 CONNECT 54 TWEET 6 COMMENT EMAIL MORE Bitcoin, the virtual currency that fuels transactions on Internet black markets such as Silk Road and Black Market Reloaded, will make its case to Congress on Monday that such currency has potential to open the digital economy to poor societies around the world. Federal law enforcement agents will testify that criminals can use Bitcoin to launder money. Last month, federal agents shut down Silk Road, a black market that so...

Full article: http://www.usatoday.com/story/news/nation/2013/11/17/cong...

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