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7/2/2014
09:06 AM
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Virtual Currencies Draw Fresh Regulator Scrutiny

Federal regulators are paying more attention to the growing use of bitcoin and other virtual online currencies. The GAO calls for more consumer protections.

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greglab
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greglab,
User Rank: Apprentice
7/27/2014 | 1:00:05 PM
A new way into Crypto Coins like Auroracoin.
We did something similar to Auroracoin at www.gcoin.us except we're distributing the crypto coins to users of our games instead of persons of a county. We felt there would be too many people in a country that would hold no interest. We also thought that if people had to earn the crypto coins instead of getting them they would have a direct relationship and an interest. It is still similar in so far as it's an extra way in to crypto coins for those without tech know how and money.
danielcawrey
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danielcawrey,
User Rank: Ninja
7/2/2014 | 2:44:33 PM
Money as software
I think that it is difficult for regulators to fully understand the long-term implications of programmable money. As such, a wait-and-see type of approach to this is needed.

Regulators are paying attention to the positives and the negatives. While virtual currencies offer enormous upside, there are consumer protections to keep in mind with this new technology. 
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