Treasury Department undersecretary says bitcoin regulation fine for now

Cash is still the predominant currency used for illicit activity

Especially following the public implosion of e-currency exchange Mt.Gox, the buzz around bitcoin has recently been less than positive. But this week regulators chimed in on the crypto-currency, saying that they would not seek to regulate it further until it becomes more commonly used for illegal activities.

In a briefing on March 18, the Treasury Department’s undersecretary for terrorism and financial intelligence, David Cohen, said that money laundering was not currently a widespread issue for the bitcoin, nor was it the preferred method of payment for criminal or terrorist activity.

Executive Editor

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Chris DiMarco

Chris DiMarco, Executive Editor of InsideCounsel magazine, has a background in multimedia production with previous involvement in projects in which he developed and created content...

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