Post
Topic
Board Legal
Re: Bitcoins are not "legal" in the US - understanding FinCEN's announcement
by
nwbitcoin
on 19/03/2013, 23:00:59 UTC
FinCEN does not write law.  They provide guidance.

Generally speaking, agencies that provide guidance, lay the ground for law makers.

They act much like lobby groups but for a government perspective.

The report from the ECB did something similar for EU governments with their report on virtual currencies.

Its answering these reports at this time that helps guide the laws when they do come in.  While the nature of bitcoin is that its supporters wants nothing to do with governments, politics generally prevents this course of action from being effective.

We certainly live in interesting times! Wink