Some of Bitcoin enthusiast Mike Caldwell's coins and paper vouchers, often called "paper wallets", are pictured at his office in this photo illustration in Sandy, Utah, January 31, 2014. REUTERS/Jim Urquhart
Patrick Tucker, Defense One: Russia, N. Korea Eye Bitcoin for Money Laundering, Putting It on a Crash Course with Regulators
Thieves and sanctioned countries are targeting the digital currency’s exchanges, setting up a fight between governments and cryptocurrency powerhouses.
Bitcoin’s rising value got a further boost last week with the debut of the first futures trading. But the digital currency has also attracted the attention the interest of U.S. adversaries. A report out this week says that Russia is eying the currency as a means to bypass harsh sanctions levied by the United States and European governments, while North Koreans are suspected of trying to steal Bitcoins from South Korean cryptocurrency exchanges. All this puts pressure on the U.S. government – and may ultimately hurt the cryptocurrency’s value.
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WNU Editor: I can understand why North Korea may be targeting South Korean cryptocurrency exchanges to steal bitcoins .... but the suggestion that Russia may be focusing on these exchanges to circumvent sanctions does not make sense to me. The Bitcoin bubble is just that .... a bubble .... and I for one would not want my assets in that bubble knowing all too well that what it may be worth today may be a radically different story tomorrow .... $19,000: Bitcoin Hits New All Time High After Burst Of Asian Buying; Bigger Than Wells, Wal-Mart (Zero Hedge).
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