30 Nov '13, 10am

US Regulators: the World's Bitcoin Police?

US Regulators: the World's Bitcoin Police?

It’s clear that some of the top cops in the United States aspire to regulate virtual currencies on a global scale. A series of meetings took place last week in response to the criminal activities lawmakers have witnessed using distributed money such as bitcoin. What does this mean for those starting bitcoin-based businesses in the US? And what impact will this have on virtual currencies in the global economy? Three simple steps? Jennifer Shasky Calvery is the US director of the Financial Crimes Enforcement Network (commonly known as FinCEN). During the Senate Committee Meeting ‘Beyond Silk Road: Potential Risks, Threats, and Promises of Virtual Currencies’ on 18th November, Calvery implored virtual currency exchanges and administrators to do three things: Register with FinCEN. Put in place Anti-Money Laundering (AML) protections. Maintain their records. Shasky Calvery, Ame...

Full article: http://www.coindesk.com/america-world-bitcoin-police/

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