Friday 4 April 2014

Bitcoin's Boosters Struggle to Shore Up Confidence

From Wall Street Journal

“When Patrick Murck walked into a small, drab conference room at the U.S. attorney's office in Manhattan last month, the freewheeling world of the virtual currency bitcoin got uncomfortably real.

The 38-year-old Mr. Murck is general counsel of the Bitcoin Foundation, a trade group that promotes bitcoin. So he wasn't surprised when the group got a subpoena from federal prosecutors who wanted to know all about Mt. Gox, the trading exchange that collapsed after announcing it lost roughly $500 million of bitcoins, mostly owed to customers.

But when he showed up, the room also was filled with representatives from the Federal Bureau of Investigation, Internal Revenue Service and Treasury Department's Financial Crimes Enforcement Network.”

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