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Redfairen

(1,276 posts) Wed Feb 26, 2014, 08:00 PM Feb 2014

Sen. Joe Manchin calls for a Bitcoin ban as regulators seek ‘accelerated push’

Source: Washington Post

The implosion of a once-popular Bitcoin exchange has some lawmakers calling for a ban on the virtual currency.

On Wednesday, Sen. Joe Manchin (D-W. Va) wrote a letter to regulatory agencies arguing that Bitcoin is "disruptive to our economy."

"The clear ends of Bitcoin for either transacting in illegal goods and services or speculative gambling make me wary of its use," Manchin wrote. "I urge the regulators to work together, act quickly, and prohibit this dangerous currency from harming hard-working Americans."

Mt. Gox, which is based in Tokyo but has become one of the most well-known exchanges around, was still inactive on Wednesday after an unverified document obtained by Bitcoin entrepreneur Ryan Selkis seemed to show that nearly $400 million in bitcoins was missing. Mt. Gox had already suspended withdrawals last month and on Monday, its CEO stepped down from the board of a major Bitcoin lobbying organization.

Read more: http://m.washingtonpost.com/blogs/the-switch/wp/2014/02/26/sen-joe-manchin-calls-for-a-bitcoin-ban-as-regulators-seek-accelerated-push/

5 replies

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Sen. Joe Manchin calls for a Bitcoin ban as regulators seek ‘accelerated push’ (Original Post) Redfairen Feb 2014 OP

Better to regulate exchanges than push them underground. Cayenne Feb 2014 #1

Double standard here Dopers_Greed Feb 2014 #2

that's because the shysters own the Senator villager Feb 2014 #3

That's because Wall Street and the banks know to play by the rules. JoeyT Feb 2014 #5

Maybe the worthless piece of shit Manchin .... Champion Jack Feb 2014 #4

Cayenne

(480 posts)

1. Better to regulate exchanges than push them underground.

Reply to Redfairen (Original post)

Wed Feb 26, 2014, 08:34 PM

Feb 2014

Dopers_Greed

(2,640 posts)

2. Double standard here

Reply to Redfairen (Original post)

Wed Feb 26, 2014, 08:35 PM

Feb 2014

Wall Street shysters = engine of the economy

Bitcoin = harms hard-working Americans

villager

(26,001 posts)

3. that's because the shysters own the Senator

Reply to Dopers_Greed (Reply #2)

Wed Feb 26, 2014, 09:04 PM

Feb 2014

dutiful water-carrier that he is....

JoeyT

(6,785 posts)

5. That's because Wall Street and the banks know to play by the rules.

Reply to Dopers_Greed (Reply #2)

Wed Feb 26, 2014, 10:21 PM

Feb 2014

The main rule being "Always make sure to kick a bunch of your ill-gotten gains back to politicians to make sure they'll defend you when it gets out how badly you've been screwing people."

Champion Jack

(5,378 posts)

4. Maybe the worthless piece of shit Manchin ....

Reply to Redfairen (Original post)

Wed Feb 26, 2014, 09:16 PM

Feb 2014

should take care of the water pollution issues in his home state first

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