A whole page discussing Liberty Reserve it says near the end:
"Regulators have been focused on battening down the financial system and have missed a trick in what's happening on the periphery. Invented four years ago, Bitcoins are a form of digital currency that is gathering popularity as a means of making and receiving payments anonymously online. Unlike the dollar and pound, whose supply has been greatly expanded by money printing central banks,there is a strict limit on the number of Bitcoins that can be issued. This, in theory, should preserve the purchasing power, like gold. But the currency has gained notoriety for the wild fluctuations in its value - and because it is used on Silk Road, a website hidden in obscure corner of the internet, where users can buy hard drugs, among other things.The Liberty Reserve case is expected to usher in closer and continued scrutiny of the Bitcoin phenomenon.
Earlier this month the US Depratment of Homeland Security seized records from the largest of the Bitcoin exchanges alleging that the operation had not been properly registered.....
As more and more business is done online, digital currencies will surely become increasingly powerful"
Topic: From today's UK Business section of The Sunday Times (Read 765 times)
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