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Opinion
The Editors

Bitcoin and the Mt. Gox Disaster

One thing that is supposed to help prevent the worst-run businesses in the world from operating exchanges and losing hundreds of millions of dollars is regulation.
Mt. Gox might be "the worst-run business in the history of the world." Photographer: Kiyoshi Ota/Bloomberg 
Mt. Gox might be "the worst-run business in the history of the world." Photographer: Kiyoshi Ota/Bloomberg 

Let's go ahead and concede that Mt. Gox, the Bitcoin exchange that went offline today and seems to have misplaced about 365 million of its customers' dollars, might be "the worst-run business in the history of the world," as one Bitcoin investor recently said.

One thing that is supposed to help prevent the worst-run businesses in the world from operating exchanges and losing hundreds of millions of dollars is regulation. And as digital currencies proliferate -- and some come along that don't suffer from Bitcoin's innumerable and probably fatal flaws -- getting that regulation right will only become more important.