New York to Regulate Bitcoin: Is the Cryptocurrency Biz Like “the Wild West?”

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Yesterday, the New York State Department of Financial Services concluded a two-day fact-finding hearing on how to regulate Bitcoin and other virtual cryptocurrencies. The purpose of the hearing was to consider whether or not Empire State regulators should have a direct role in overseeing the use of virtual cryptocurrencies, or if existing federal regulations suffice.

For full text and links, click here:
http://reason.com/reasontv/2014/01/30/new-york-state-to-regulate-bitcoin-is-th

20 COMMENTS

  1. I knew from the start Bitcoin didn't have a chance. Remember, the (privately owned) U.S. Federal Reserve Bank was created so our government could create money from nothing. If you think they (the banks) are going to allow anyone else create money from nothing you are not living in reality. Bitcoin will in the end, either be owned by the banks, or regulated out of existence. 

  2. The irony is that the wild west was surprisingly calm and did not present the danger that people say it did. The outlaws of the wild west were vastly overstated, and the organic self regulation of these small western towns is always terribly _un_derstated.

    The same is true for bitcoin.

    And as compared to what? Like federal reserve notes somehow get around the problem of illicit activity?! Bullshit!

  3. who is hurting people with bit coin?, if it doesn't hurt anyone how can people use it illegally?, this is ridiculous, no victim, no crime, and the government should not be allowed to claim its the victim of anything,.

  4. The narrator mentioned "few specifics were mentioned." I would have liked to have heard what specific policies and policy changes they were proposing. If you're going to act like a journalist be a journalist and present the whole story, not just a few minutes of sound bites.

  5. Oh I see, the US government is the biggest counterfeiter and drug dealer on earth and the USD has been the primary currency to fund all kinds of "illegal" activities worldwide and now they want to fuck up crypto currencies? No big surprise but what bastards they are.

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