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Mt. Gox, Largest Bitcoin Exchange, Registers With U.S. Treasury

Mt. Gox registers with FinCEN, The Financial Crimes Enforcement Network, as a “money services business.”

Mt.Gox, the largest exchange for buying and selling the peer-to-peer crypto-currency Bitcoin, registered last week with the U.S. Treasury’s anti-money laundering agency as a money services business.

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This feint toward retroactive legitimacy was perhaps spurred by the seizure of Mt. Gox’s funds ordered six weeks ago by the Department of Homeland Security. But the consequences remain to be seen.

While still retaining its hipster/hacker cred, Bitcoin has been in the news more often recently for regulatory issues, scams and schemes.

About the author

She’s the author of Generation Debt (Riverhead, 2006) and DIY U: Edupunks, Edupreneurs, and the Coming Transformation of Higher Education, (Chelsea Green, 2010). Her next book, The Test, about standardized testing, will be published by Public Affairs in 2015.

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