Well are you? Are you nervous or worrying about Bitcoin longevity? if you are, you are not alone, there are a lot of people out there worrying about it also. Like many people said, only invest in Bitcoin with the money you don’t need or money that can you can afford to loose. It is true, Bitcoin as of today is not regulated, however it does falls under certain rules and regulation when trade or exchange into cash.
Here are a few things that had happened which impacted Bitcoin exchange process, but surprisingly did not impact the Bitcoin value much!
- Liberty Reserve (LR) was shut down, and its management indicted and arrested, in what is being described as “the largest money laundering case in U.S. history.” A short video at the bottom explains how the case went down.
- FinCEN designated LR as entity “of primary money laundering concern,” and proposed a rule to order that all large financial institutions freeze any and all of LR’s assets.
- A brouhaha ensued, and all kinds of speculations were made about the future of Bitcoin and all virtual currencies.
- OKPay suspended processing for all Bitcoin exchanges, including Mt. Gox.
- FinCEN Director Shasky Calvery spoke out and drew the line even deeper in the sand –“We stand by the guidance.”
- Mt. Gox hardened its interface by incorporating customer verification.