Bitcoin: Virtual Currency Enters Real World

Welcome to the real world, Bitcoin. The U.S. government has officially legitimized the popular crypto-currency and other “virtual currencies” by attempting to regulate them.

The U.S. Treasury’s Financial Crimes Enforcement Network published a list of guidelines Monday applying money-laundering and record-keeping rules to companies that issue or exchange these currencies. This won’t affect people using Bitcoins to purchase goods or services.

The guidelines reflect rising concerns about virtual currencies’ use in illegal activities, and risks associated with hacking, account thefts and software glitches, as seen in a Federal Bureau of Investigation report last year...more

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s