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I know a little bit about all the rigmarole that banks and companies like paypal and amazon have to go through in order to comply with various money laundering and tax evasion laws. I'm not surprised that bitcoin hasn't done their due diligence on the subject and are now catching flack.


That's hardly surprising, because there is no bank or company involved to hold accountable.


While it depends on the country, you don't have to be a bank to be regulated in the UK.

For example, the Financial Services Authority says you need to be registered for accepting deposits or issuing e-money: http://www.fsa.gov.uk/Pages/Doing/Do/index.shtml

I have no idea whether this is simply or cheap though...


Whatever you call the organization behind creating bitcoin fundamentally it's still accountable, even if it's a loose, self-selecting group of open source developers.




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