Especially following the public implosion of e-currency exchange Mt.Gox, the buzz around Bitcoin has recently been less than positive. But this week regulators chimed in on the crypto-currency, saying they would not seek to regulate it further until it becomes more commonly used for illegal activities.
In a briefing on March 18, David Cohen, the Treasury Department's undersecretary for terrorism and financial intelligence, said money laundering was not currently a widespread issue for Bitcoin, nor was it the preferred method of payment for criminal or terrorist activity.
During the speech, Cohen said, "Terrorists generally need real currency, not virtual currency, to pay their expenses, such as salaries, bribes, weapons, travel, and safe houses," Bloomberg reported.
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