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By JD Supra Business Advisor | JD Supra's magazine covering all aspects of Bitcoin and issues surrounding virtual currency. Updated daily.

Quantum Computers for Mining Bitcoins

Today’s computers encode data into bits – binary digits in one of two definite states, 0 or 1. Any calculation that needs to be performed with the …

Quantum Computing

State Bank Regulators Request Feedback On Model Framework for Virtual Currency Activities

On December 16, the Conference of State Bank Supervisors (CSBS) announced its draft regulatory framework and requested public comment on specific …

Cryptocurrency

Bitcoin Reportability and Taxation

June 30 is the deadline for taxpayers with a connection to foreign financial accounts to file FinCEN Form 114, Report of Foreign Bank and Financial …

SEC, Bitcoin and Unregistered Offerings

Bitcoin has been a much discussed item recently. The virtual currency is a digital representation of value that is traded and can serve as a medium …

Bitcoin

Deal Carefully With Bitcoins Until Legislation Catches Up

Interest in cryptocurrencies is growing, even after Mt. Gox, formerly the largest international bitcoin exchange, filed for bankruptcy in Japan …

Financial Regulation

Senate Banking Committee Leaders Seek Regulators’ Views On Virtual Currencies

On May 19, the Senate Banking Committee’s chairman and ranking member, Senators Tim Johnson (D-SD) and Mike Crapo (R-ID), sent a letter to the …

Banking

SEC Alerts Investors: Of Bitcoin Risks

For the second time in less than one year, the Securities and Exchange Commission (SEC) has issued an alert to investors about the risks of investing

Bitcoin

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Technology, Innovation, and the Law: The Wacky World of Bitcoin

While the IRS’ recent ruling comes as a certain relief to Bitcoin enthusiasts who feared it would be deemed completely illegal and/or entirely shut

Last Week At The FEC: Continued Delay On Bitcoins

Last week the Federal Election Commission met in executive session and held an open audit hearing on the Democratic Party of Illinois as well as an …

DBO Issues Guidance Regarding Virtual Currencies And Asks For Comments On Proposed Money Transmission Rules

Yesterday, the Department of Business Oversight issued this cautionary guidance for consumers regarding virtual currencies. However, amidst the …

Bitcoin – real, virtual or illegal currency?

The news about the indictment of Charlie Shrem, the former vice president of Bitcoin Foundation, and Robert Faiella in the US because of their …

Bitcoin: Regulators and States Out Ahead—Will Congress Follow?

Bitcoin, a decentralized digital currency that facilitates quick exchanges of value, has received steady attention from the media and industry …

New IRS rules make using Bitcoins a fiasco - Mar. 31, 2014

The United States' new Bitcoin tax rules just made casual, everyday use a complicated bookkeeping headache.

The Internal Revenue Service's notice last week will force the average Bitcoin user to keep a strict record of every purchase made all year long -- then perform difficult calculations to …

Internal Revenue Service