'Very Few' Countries Regulate Bitcoin, Report Says

Law360, New York (February 4, 2014, 3:42 PM EST) -- The U.S. has by and large not yet decided how it will regulate digital currencies like Bitcoin, such as for taxation, but isn’t as far behind other countries as some suggest, according to a Law Library of Congress report published Monday.

The report outlines the regulatory schemes — or lack thereof — of 40 jurisdictions around the world relating to digital currencies, and found that “very few” have specific regulations addressing the $12 billion in bitcoins currently in circulation.

There is widespread concern about the Bitcoin...
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