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PR Newswire
13-08-2013, 02:38 PM
Digital currency seemed received Uncle Sam's attention... Is it prominent enough for new law?
Fears grow that virtual money could aid criminals
ALBANY (New York) — New York is trying to corral the “Wild West” atmosphere of virtual currencies such as Bitcoin and may create new regulations to keep the growing technology from being used in crimes.
Financial Services Superintendent Benjamin Lawsky’s inquiry is confirmed in a memo provided to The Associated Press yesterday (Aug 13).
“We have seen instances where the cloak of anonymity provided by virtual currencies has helped support dangerous criminal activity, such as drug smuggling, money laundering, gun running and child pornography,” Mr Lawsky wrote in the memo dated yesterday. He described virtual currencies as a “Wild West” for criminals that could threaten national security.
http://www.todayonline.com/tech/fears-gr...-criminals
Fears grow that virtual money could aid criminals
ALBANY (New York) — New York is trying to corral the “Wild West” atmosphere of virtual currencies such as Bitcoin and may create new regulations to keep the growing technology from being used in crimes.
Financial Services Superintendent Benjamin Lawsky’s inquiry is confirmed in a memo provided to The Associated Press yesterday (Aug 13).
“We have seen instances where the cloak of anonymity provided by virtual currencies has helped support dangerous criminal activity, such as drug smuggling, money laundering, gun running and child pornography,” Mr Lawsky wrote in the memo dated yesterday. He described virtual currencies as a “Wild West” for criminals that could threaten national security.
http://www.todayonline.com/tech/fears-gr...-criminals
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