Thursday, May 1, 2014

Bitcoin regulation hits close to home

Via Wired:

"The Ohio Department of Public Safety didn’t return calls and email messages asking them to explain their thinking, but the agency told the Cleveland Plain Dealer that bitcoin 'cannot be accepted as payment for alcohol in the State of Ohio.” Why, exactly, is unclear. The newspaper quotes Ohio Department of Public Safety Agent Eric Wolf as saying that bitcoin’s value fluctuates too much to be recognized as a currency.' "

Variation in purchasing power sure seems like an odd reason to ban the use of an online currency, especially considering Bitcoin's value has been relatively stable over the past month or so.





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