Bitcoin Exchange Wants User IDs Amid US Crackdown

Law360, New York (May 30, 2013, 3:40 PM EDT) -- Facing growing pressure from U.S. regulators fearful of criminals using digital currencies to hide their profits, the world's largest Bitcoin exchange on Thursday announced that customers would have to verify their identities before entering into any transactions.

The announcement from Tokyo-based Mt. Gox comes amid rising scrutiny from U.S. regulators of digital currencies, which they fear have become a haven for drug cartels, terrorist groups and other criminals seeking to keep their money out of traditional banks where it can be tracked. Among the biggest concerns...
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