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U.S. Treasury Sees Virtual Currencies as ‘Evolving Threat’

  • Bitcoin has slumped amid regulatory crackdown in Korea, China
  • U.S. will ‘aggressively pursue’ dealers who flout compliance
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Bitcoin Loses 50% Since December

The U.S. Treasury views virtual currencies such as Bitcoin as an “evolving threat” and is examining dealers to make sure they aren’t being used to finance illegal activities, the undersecretary for terrorism and financial intelligence said.

Treasury is working with the Internal Revenue Service examiners to review 100 registered digital currency providers as well as others that have not registered, Sigal Mandelker said in prepared testimony to the Senate Banking Committee on Wednesday. The department is also working with the Justice Department to pursue money laundering cases.