Every Important Person In Bitcoin Just Got Subpoenaed By New York's Financial Regulator

[GhettoUnboxings]

http://www.forbes.com/sites/kashmirhill/2013/08/12/every-important-person-in-bitcoin-just-got-subpoenaed-by-new-yorks-financial-regulator/

 

 

 

Things are getting serious for Bitcoin this month: a federal judge declared it real money, Bloomberg gave it an experimental ticker (XBT), and New York’s financial regulator announced an interest in regulating it. Declaring Bitcoin “a virtual Wild West for narcotraffickers and other criminals,” the New York State Department of Financial Services is stepping into the sheriff’s boots.

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).  The recipients of the subpoenas are nationwide and include everyone on the “people making real money on Bitcoin” list, such as Bitcoin exchanges and processors, “ mining equipment” maker Butterfly Labs, and major investors, such as the Winklevosses, Marc Andreessen & Ben Horowitz, and Google’s venture fund.

 

[WorldDominator]

LOL

 

That is all.

[helping]

everywhere is so depressing

[Kilerbomb]

They don't care about the people who use Bitcoin, they just want another way to steal more money from your wallet.

The US government is at it again...

[TheSLSAMG]

What's wrong with my state. And I was going to start mining too. Probably not since my hardware would get me maybe 1 Bitcoin/year.