[TechCrunch] Wikipedia calls Bitcoin a cryptocurrency (a currency that relies on cryptography), but now it's official. A federal judge in Texas has declared that Bitcoin is a currency and should therefore be regulated just like U.S. dollars or gold. The ruling represents yet another attempt to regulate Bitcoin transactions, threatening the original purpose of the currency.
While it looks like a recognition that Bitcoins are worth something, the decision threatens once again Bitcoin's utopian concept. As a reminder, the Department of Homeland Security recently issued a seizure warrant on Bitcoin exchange service Mt. Gox because it didn't comply to money transfer regulations.
| Because we've discussed the topic here at Rantburg at some length. |
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