Many of those in the business of Bitcoin admit to pleasant surprise that financial regulators – notably the Treasury Department and its Financial Crimes Enforcement Network – have helped legitimize the virtual currency and avoided heavy-handed restrictions. That détente continued this week with an announcement that Bitcoin now has a seat at the regulatory table.
In a speech before the Association of Certified Anti-Money Laundering Specialists’ annual conference in Miami, Jennifer Shasky Calvery, FinCEN’s director, announced for the first time that a member of the virtual currency community will represent their interests as part of Treasury’s Bank Secrecy Act Advisory Group. The group brings together representatives from regulatory and law enforcement agencies, financial institutions, and trade associations to advise it on policy recommendations.
