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Bitcoin Users Under Investigation by New York State Regulators

New York’s state-level financial regulator has issued a round of subpoenas to a “who’s who” of high-profile Bitcoin professionals and supporters, citing the need to begin regulating the untraceable digital cryptocurrency, despite obvious technological roadblocks. State employees allege that Bitcoin could be used by “criminals” to engage in black market transactions, despite the fact that there is no real way to prevent Federal Reserve Notes from being used to purchase contraband. Why are Bitcoin professionals being subpoenaed in the absence of any specific accusations of wrongdoing?

http://silverunderground.com/2013/08/bitcoin-users-under-inv...



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Noting new under the Sun.

This is nothing new. States have also investigate Cash business also under the same guise of drugs, money laundering and tax evasion. Since BitCoins are the Internets equivalent of cash this should come as no surprise.

I too am a BC folk..

Bitcoins are the same as cash online. That being said, Who has all their assets in cash? Just because I use BC does not mean that's all I use. Do you only invest in Gold or Silver or Cash or Investments or Property? Or do you want to have a little of it all? I was told as a kid to never place all my assets into one basket. If you ever need to leave America with nothing but the shirt on your back. How much Gold will you be able to carry? Would it not be nice to have a little nest egg of BC's hiding online for you in your new country?

nothing better than old time physical silver and gold ;)

you bitcoin folks are going to learn the hard way.

patience is the name of the game!

I'm a bitcoin

folk ;)

There is nothing to learn. I'm big on gold/silver too. That's what people seem to get mixed up. It's not an either/or choice. Bitcoin complements PMs. It's not trying to replace them. PMs are best at storing value and bitcoins are best at transferring value. Both have a role to play.

on a personal view i see no value with Bitcoins.

.

Store or exchange.

current exchange rate.
http://pricedingold.com/bitcoin/

For 2500mg of gold could one send Ed a Bitcoin?

Free includes debt-free!

Title is Incorrect

Bitcoin users are NOT under investigation (at least not any behaving legally and Bitcoin is not illegal to use) See the FinCEN guidance which clearly says they don't regulate users who exchange bitcoins directly for goods and services.

Also Bitcoin companies are NOT under investigation. Several prominent Bitcoin related companies received subpoenas from New York's financial regulators. Subpoenas are NOT an indication of wrongdoing. Instead the regulators want to see if the companies are in compliance with existing laws and if more may be needed.

a who's who? is there a social register or something?

Well known bitcoin users and supporters?

SUBPOENAED?

Well this will be a merry little farce.

Be brave, be brave, the Myan pilot needs no aeroplane.

These tyrants just cant stand

These tyrants just cant stand it when people try and live outside of the plantation.

______
"When the people fear their government, there is tyranny; when the government fears the people, there is liberty."