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For Some Countries, Bitcoin Poses Capital Flight Risk Too
By Brian Monroe
printFor all of the legitimate concerns and overheated rhetoric about the rise of crypto-currencies, the biggest problem for Bitcoin may be one seldom discussed by critics: its abuse by tax dodgers. Since December, more than a half dozen countries, including China, India, Thailand and Russia, have ruled that Bitcoin and other digital currency platforms do not constitute legal tender and should be considered vulnerable to money laundering and other criminal abuse. In public notices and rulings, the countries made no mention of whether citizens could use crypto-currencies to shield money from government oversight. But China, Thailand and other jurisdictions are...
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The second installation of a two-part story on how the Bitcoin market is changing under the scrutiny of federal and state officials.