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US Treasury confirms Bitcoin miners and investors won’t be regulated

31
Jan
2014

Bitcoin miners and investors will not be regulated by the US Treasury. The clarification came in a pair of rulings yesterday from the Financial Crimes Enforcement Network (FinCEN), a bureau of the US Treasury Department, which said that people who mine virtual currencies for personal use and businesses that buy and sell virtual currencies purely as an investment will not be considered money transmitters, exempting them from requirements to register with the government and comply with certain money laundering regulations that it appeared may have applied to them. FinCENs ruling was initially published late last month by Atlantic City Bitcoin, the company that the ruling was originally handed to. However, FinCEN rulings that have not been officially published by the bureau cannot always be used as precedent.

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