Jenner & Block

“Bitcoin: What It Is and How It’s Regulated in the US,” New York Law Journal

In this article, Jenner & Block Partner Anthony S. Barkow and Associate Nathaniel H. Benforado explore the background of Bitcoin virtual currency and the current regulatory landscape in the United States.  The authors explain that Bitcoin does not rely on a trusted central authority, such as a mint or bank, to guard against counterfeit or double spending. They highlight the benefits and risks to Bitcoin and examine how it is regulated in the United States, concluding that “rather than banning Bitcoins themselves, U.S. officials have focused their efforts on limiting illicit uses.”