31 Dec '12, 9pm

Will Bitcoin be regulated in 2013? #UT

Will Bitcoin be regulated in 2013? #UT

Earlier in December, a European bitcoin exchange said it had been granted “payments service provider status” by French government officials. In other words, the French government considered the exchange to be like Paypal , or similar services. The exchange is called Bitcoin-Central. The status allows them to seek protections against loss from fraud, among other legal “perks.” This sparked a good deal of controversy within the active bitcoin community . It puzzled me, at first, because I would think that governments would want to stop bitcoin — I’d expect to see more of what we saw within the U.S. government this past year, decrying bitcoin as a currency for drug dealers and other black-marketeers. Here’s the worry: If members of the political class cannot stop bitcoin for being used, they can seek to regulate it . This would undermine one of the points of bitcoin. It was m...

Full article: http://uptweet.com/viewStory?id=538

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