“The top U.S. anti-money-laundering regulator on Monday told a Bitcoin trade group that exchanges for the virtual currency must follow the same rules as established financial institutions, highlighting the government’s efforts to keep tabs on a small but growing segment of the financial world. The Treasury Department’s Financial Crimes Enforcement Network, or Fincen,hosted the Bitcoin Foundation and other regulators and law-enforcement officials as the sides grapple with the rise of virtual currencies. Such digital money isn’t backed by a central government and often, as with Bitcoin, isn’t controlled by any central entity.”
http://online.wsj.com/article/SB10001424127887323407104579037301852662422.html
Related posts:
Dissident blogger allowed to leave Cuba on tour
Want to make money as a landlord? Try Detroit
In Swat Valley, U.S. drone strikes radicalizing a new generation
British parliament votes against military strike on Syria
CISPA returns as CISA -- and it's just as terrible for privacy
HSBC economist: "There aren't enough lifeboats to go around"
Nevada Recluse Found Dead With $7 Million In Gold Bars, Coins In Garage
NSA mass phone surveillance revealed by Edward Snowden ruled illegal
The New Truth About the Cop Shot in Watertown: Friendly-Fire in a Getaway
A Ghost Army of Workers Is Paid to Do Nothing in the Gulf
9/11 memorial gets temporary home after judge warns it could be wielded as a weapon
Myanmar Foreign Investment Reaches $42 Billion From 32 Countries; $423 Million In June
HSBC won't give me more than £1k of my own cash over the counter
Fannie To Allow Mortgage Walkaways by On-Time Borrowers
9 foreign countries where you can use U.S. dollars