Even after the criminal charges and bitcoin seizures associated with Silk Road, the overall sense from governmental guidance and regula- tory activity is that bitcoin will be regulated, not prohibited. The precise parameters of that regulation, however, remain uncertain. In addition, the clear message is that law enforcement action will be swift and aggressive if bitcoin is used to further criminal activity. Given the potential for criminal exploitation of bitcoin and the need for anti-money-laundering compliance in the bitcoin space, it is also anticipated that any businesses who fail to comply with applicable rules and regulations (either existing rules or newly-formulated rules specific to bitcoin) are likely to face enforcement actions and penalties from a variety of state and federal agencies.
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