Real money. Virtual currency. Hard rules.

New Scientist adds up the arguments over bitcoins, the computer-generated form of money. We’re now seeing plans to regulate the imaginary currency:

Virtual currencies are to be regulated by the US Treasury after the Financial Crimes Enforcement Network (FinCEN) moved to clarify their status under anti-money-laundering laws.

The move comes as Bitcoins doubled in value in just a few weeks to hit a record high of more than $70 each, possibly fuelled by the banking crisis in Cyprus and the rest of Europe.

Bitcoin “miners”, who run software to create Bitcoins, might also have to register if they sell the newly minted currency for its real equivalent.

Interesting to see how the currency survives this.

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