Bitcoin Challenges

P. Carl Mullan
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P. Carl Mullan: PDX Currency Corporation

Chapter 20 in The Digital Currency Challenge: Shaping Online Payment Systems through US Financial Regulations, 2014, pp 138-142 from Palgrave Macmillan

Abstract: 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.

Keywords: Federal Bureau; Financial Transparency; Virtual Currency; Digital Currency; Conventional Banking (search for similar items in EconPapers)
Date: 2014
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-38255-9_21

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DOI: 10.1057/9781137382559_21

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