Mar 192013

Approximately once per decade, the market experiences a Gold Rush, a once-in-a-lifetime opportunity that, once missed, is gone forever.

Examples include the introduction of competitive long-distance telephone service in the USA in the 1980s and mobile telephones after that; two- and three-letter domain names in the late 1990s; privatization in newly democratized countries; etc.

Bitcoin appears to be such a Gold Rush, especially now that it has received the regulatory green light in the USA.

A user of virtual currency is not an MSB under FinCEN’s regulations and therefore is not subject to MSB registration, reporting, and recordkeeping regulations. However, an administrator or exchanger is an MSB under FinCEN’s regulations, specifically, a money transmitter, unless a limitation to or exemption from the definition applies to the person. An administrator or exchanger is not a provider or seller of prepaid access, or a dealer in foreign exchange, under FinCEN’s regulations.”
Guidance: Application of FinCEN’s Regulations to Persons Administering, Exchanging, or Using Virtual Currencies
Financial Crimes Enforcement Network (FinCEN), 18 March 2013

Invest accordingly.

Prof. Evans

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