The advent of a new medium to conduct business inevitably means avenues for criminals to swoop in to take advantage. The development of Bitcoin, the virtual currency that is not issued by any government, presents challenges for the authorities to use laws that were not designed for the digital world to combat illegal conduct.
DealBook reported on “fraud, hacking and outright theft that have become an increasingly regular part of the virtual currency world.” Bitcoin itself is neither good nor bad, just a new means to conduct business, but virtual currency operates in ways that make it harder to prosecute violations.
via For Bitcoin, Square Peg Meets Round Hole Under the Law – DealBook
