Government will regulate Mt. Gox Bitcoin transactionsSubmitted by GoodSamaritan on Thu, 03/07/2013 - 17:54
From Business Insider:
We reached out to ConvergEx Group Chief Market Strategist Nick Colas, who wrote about the Bitcoin market recently in a note to clients, for his thoughts on why the virtual currency has gone so wild this week.
Colas says it looks like Bitcoins may finally be about to go mainstream:
My thought was that [the move this week] was a result of the CoinLab announcement of becoming Mt Gox’s partner in the US and Canada. Along with that comes the involvement of Silicon Valley Bank.
That’s a big thing potentially, because now we’re talking about a real US bank with all the AML and KYC regulations that will make Bitcoin much more relevant for legitimate transactions.
(AML refers to anti-money laundering and KYC refers to "know-your-customer.")