Overview
Payments Compliance quoted Alan Cohn in an article titled “US Bitcoin Firms Face ‘Conflicting’ Regulatory Views.” The article, published August 31, discusses inconsistent legal ideas regarding virtual currencies that are causing US firms trouble as regulators, lawmakers and courts struggle to classify the emerging technology.
Mr. Cohn says: “Bitcoin has definitely been subject to different interpretations from different regulatory agencies, and we have yet to see consolidation of regulatory viewpoints around a single interpretation of it. It can lead to conflicting interpretations when an entity is looking at Bitcoin, and for some instances it is being characterized as property and for others as currency.”
The full article can be read at Payments Compliance (subscription required).
