Wednesday, May 08, 2013

Unleash the (pick your enforcement vehicle)!!!!


As if my previous post was a signal to the gods, the Uruk-Hai (again referencing my previous post...pick any fictional unit of enforcement for dubious ends) have been unleashed upon an impetuous but weak adversary.  Making a currency that benefited from disfavor of other currencies was never going to win points with Governments...especially the guys at "THE" Government:

Senior officials at a top U.S. financial regulator are discussing whether Bitcoin, the controversial cybercurrency, might fall under their regulatory remit.
Bitcoin "is for sure something we need to explore," Bart Chilton, one of the five commissioners at the Commodity Futures Trading Commission told the Financial Times. A person familiar with the CFTC's thinking said that the regulator is "seriously" examining the issue.
Said Mr. Chilton: "It's not monopoly money we're talking about here—real people can have real risk in these instruments, and we need to ensure that we protect markets and consumers, even in what at first blush appear to be 'out there' transactions."

No comments: