In March, US Treasury department FinCEN — which handles enforcement of financial crimes — turned its eye towards the world of virtual currency. The bureau published guidelines for how the federal Bank Secrecy Act applied to both centralized and decentralized virtual money, most prominently Bitcoin. FinCEN's guidance was cautiously welcomed by some and decried by others, who opposed rules asking Bitcoin miners or trading floors to register with FinCEN and submit tax information. Now, the issue of how to regulate virtual currency is more pressing than ever: the Justice Department has accused online banking service Liberty Reserve of laundering $6 billion with its anonymous trading system.
via The Verge - All Posts http://www.theverge.com/2013/5/30/4380788/treasury-department-says-money-laundering-case-isnt-bitcoin-crackdown
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