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Bitcoin Government The Almighty Buck

New York's Financial Regulator Subpoenas Bitcoin Companies 259

dreamstateseven writes "Things are getting serious for Bitcoin this month: a federal judge declared it real money, Bloomberg gave it an experimental ticker, Thailand declared it illegal, and now New York's financial regulator announced an interest in regulating it. The department is starting out by subpoenaing 22 digital-currency companies and investors to get a lay of the Bitcoin land. They sent letters to the major Bitcoin players asking them to hand over information regarding their money laundering controls, consumer protection practices, source of funding, pitch books (for Bitcoin start-ups) and investment strategies (for Bitcoin investors). Keep in mind, a subpoena doesn't mean criminal activity has taken place."
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New York's Financial Regulator Subpoenas Bitcoin Companies

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Nothing will ever be attempted if all possible objections must be first overcome. -- Dr. Johnson