US Regulators Develop Bitcoin Rulebook – 19 May 2014

RT logoA group of US state regulators is working to develop the first ever bitcoin rulebook, stating that they hope to protect those who are using the virtual currency by introducing proper regulation.

Many US companies are now allowing customers to pay for goods and services with the virtual currency.

“We may be looking at some type of model definitions, or model laws or regulations, and very likely recommendations to either our federal colleagues or to Congress,” David Cotney, Massachusetts commissioner of banks, told Reuters during a public hearing about bitcoin on Friday.

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