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WSJ article on FinCEN’s new virtual currency guidance

The Wall Street Journal yesterday posted a nice article about FinCEN’s new guidance on virtual currencies (e.g. Bitcoin, Linden dollars). It validates with hard numbers some of the things others have said about Bitcoin – like the thin trading in it (a recent high water mark was $8 million in daily trading). And it adds to the notion that Bitcoin is largely a speculative instrument (the price rose over 20% the day FinCEN issued its guidance), and that, right now, it’s not the greatest laundering vehicle.

I did learn one interesting, although not tremendously useful, thing: you can pay for pizza from some vendors like Dominos, from Pizzaforcoins.com. Good to know!

Link:

WSJ article

Categories: Anti-Money Laundering

eric9to5

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