“In the US, the virtual currency is subject to money transmitter laws at the federal level and in 47 states. The rules are not always clear, however, because they are written for money transmission services, not virtual currencies. The regulations are also in flux. New York is considering a special ‘BitLicense‘ for virtual currency firms, for example. As a result, many Bitcoin companies have not registered at either the state or federal level. Only 35 Bitcoin companies have registered with FinCEN, the bureau of the US Treasury Department that has taken the lead on Bitcoin regulation, and the agency has reached out to several dozen more that it believes need to register.”
Related posts:
Virginia Republican rep introduces bill to end federal marijuana prohibition
Leaked Docs: Dutch Rabobank Blocked Bitcoin for ‘Ethical Reasons’
Bill Bonner: Where did the US$ 700 billion go?
France Taxes America: The Robin Hood Tax
Who is this that "Makes Nations Tremble"?
Over 50% Of Electric Cars Sold In US Are In 5 Cities
Four Men Busted for Stealing Hundreds of Thousands From Bank Accounts Using Fake Credit Cards
Former President Jimmy Carter Calls U.S. an Oligarchy
Insurance Premiums Surging as Obamacare Kicks In
Tesla Wants To Eliminate Side Mirrors; Regulators Stand In The Way
'Tech Should Make It Easier To Escape Government Control'
PA voting machine ‘taken out of service’ for flipping votes to Romney
Fed Official Decries Bitcoin as “Not Backed”
Louisiana Deputies Bust Gays with Unconstitutional Sodomy Law
Florida: Court Approves Detaining Motorists at Toll Booth