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Bitcoin Challenges

In: The Digital Currency Challenge: Shaping Online Payment Systems through US Financial Regulations

Author

Listed:
  • P. Carl Mullan

    (PDX Currency Corporation)

Abstract

Financial transparency is a growingglobal trend, especially in the United States. However, virtual currencies, such as Bitcoin, are moving away from greater customer identification and toward less transparency. Large differences exist between how virtual currency enthusiasts view decentralized currency and how regulatory agencies view Bitcoin. The decentralized virtual currency platform presents a challenge for money laundering investigations. In a competing US financial market, Bitcoin faces many well-funded existing bank products and tough competition from banks.

Suggested Citation

  • P. Carl Mullan, 2014. "Bitcoin Challenges," Palgrave Macmillan Books, in: The Digital Currency Challenge: Shaping Online Payment Systems through US Financial Regulations, chapter 20, pages 138-142, Palgrave Macmillan.
  • Handle: RePEc:pal:palchp:978-1-137-38255-9_21
    DOI: 10.1057/9781137382559_21
    as

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