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


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