Wednesday, May 15, 2013

Earlier This Week Agents of UK Government Held a Conference on Bitcoins

Bitcoin has come on to the radar of the UK government, with officials gathering in London on Monday to discuss the security threats and tax concerns posed by the digital currency, Jane Wild at FT is reporting.

Reports Wild:

About 50 civil servants from HM Revenue & Customs, the Serious Organised Crime Agency, Home Office and GCHQ – the intelligence listening service – held a one-day conference which examined how Bitcoin works and how criminals might seek to exploit the electronic cash system, which is currently unregulated by any financial authority[...]
The Future of Money conference, which included presentations on how the cryptocurrency works, was organised by the government’s Foresight Horizon Scanning Centre, an arm of the Department for Business, Innovation and Skills which develops" innovative, long-term policy." Although unofficial meetings have been held previously, this was the first official meeting of civil servants held to discuss Bitcoin.[...]Civil servants will now prepare two reports for ministers on their conclusions: one public and one private.

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