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Many will tell you that Bitcoin stands on shaky legal ground. Senator Joe Manchin, however, believes it's outright dangerous, to the point that he has sent a letter to regulators asking them to ban the digital currency. Manchin says there's no regulation and Bitcoin's mix of anonymity and irreversibility is appealing to a shady crowd. The Senator believes that black markets and thieves operate with relative freedom. Manchin also points out that the digital cash is prone to both deflation and surprises that risk creating chaos, such as the recent shutdown of the Mt. Gox exchange.
|US Senator Asks For A Bitcoin Ban, But Don't Hold Your Breath|
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