29 Jan '14, 10pm

The Emerging Bitcoin Civil War

The Emerging Bitcoin Civil War

Mike Nudelman/Business Insider A civil war is emerging between Bitcoin's earliest and most libertarian adopters, and a more commercial wing seeking to embrace regulation as a means of legitimizing Bitcoin businesses. The divide came into focus this week with two key events events. One was a hearing on Bitcoin regulation by the New York Department Of Financial Services. The other was the arrest of BitInstant CEO Charlie Shrem on money laundering charges. Until the moment of his arrest, Shrem, 24 had been something of a darling in the Bitcoin venture capital community — the Winklevoss brothers were one of BitInstant's earliest investors, and Shrem was scheduled to co-headline a Bitcoin conference in Miami this past weekend. But on the first day of hearings about the future of Bitcoin regulation convened this week by the New York Department of Financial Services, a panel of V...

Full article: http://www.businessinsider.com/bitcoins-new-civil-war-2014-1

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