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15 Oct '12, 11am

FBI Explores The Implications Of Bitcoin

Remember Bitcoin? The online cryptographic currency that got a lot of attention last year, but quickly faded ? There was some political grandstanding against it, like when Senator Chuck Schumer declared that Bitcoin was a form of money laundering . And, now, the FBI is trying to understand Bitcoin, sending around a document warning that criminals might (*gasp*) use Bitcoin . The report is pretty even-handed, actually. It notes that there's a reasonable likelihood that "malicious actors will exploit Bitcoin to launder money." However, it at least admits, noting that this is no different than cash , that users of Bitcoin "value the currency for many of the same reasons people trust Federal Reserve notes: they believe they can exchange the currency for goods, services or a national currency at a later date." It does highlight some "unique features" that make Bitcoin especiall...

Full article: http://www.techdirt.com/articles/20120510/10550418870/fbi...

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