For those unfamiliar with Bitcoin, it is a digital medium of exchange that was introduced to the cyber world in 2009 through open source software created by an unknown developer who goes by the pseudonym Satoshi Nakamoto. Bitcoin payment transactions are processed within minutes but are irreversible and lack the full faith and credit of any government authority.
This is usually the point where those who have not heard of Bitcoin or similar crypto-currencies expect to hear the phrase “Now playing at a theater near you.” Not only is Bitcoin real, but the Financial Crimes Enforcement Network, the U.S. government agency charged with collecting, analyzing and disseminating financial intelligence, has suggested its users have processed transactions worth about $8 billion in the past year.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]
