Bitcoin grows up, sells out

Abstract

Aron talks about the virtual currency--Bitcoin. It is a currency founded by revolutionaries that went on to become the worlds dominant payment method. Once little more than the play thing of online libertarians and crypto-anarchists, many Bitcoin advocates are now seeking regulatory and financial legitimacy as an ecosystem of companies springs up to support the currency. In March, the US government sought to actively regulate Bitcoin by requiring companies classified as money transmitters to register with the Financial Crimes Enforcement Network (FinCEN), Mt. Gox, the largest Bitcoin exchange, was founded in 2010 but only registered last month, following the seizure of its accounts in May by the Department of Homeland Security.