Regulators See Value in Bitcoin, and Investors Hasten to ...

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But Mythili Raman, an assistant attorney general at the Justice Department, also said that because every bitcoin transaction was recorded on a public ledger, it was possible for investigators to trace the movement of money between accounts. “It is not in fact anonymous. It is not immune from investigation,” Ms. Raman said. All the officials at the hearing said that crime had been an issue ... But Mythili Raman, an assistant attorney general at the Justice Department, also said that because every bitcoin transaction was recorded on a public ledger, it was possible for investigators to trace the movement of money between accounts. “It is not in fact anonymous. It is not immune from investigation,” Ms. Raman said. All the officials at the hearing said that crime had been an issue ... Bitcoin uses SHA-256 as its proof-of-work scheme, but there are a few other major alternatives of Bitcoin that use SHA-256 and can be mined the same way as Bitcoin and with the same hardware including the specialized Bitcoin ASIC hardware miners. These are Namecoin, Devcoin, IXCoin, Freicoin, Peercoin, Terracoin, Zetacoin and others. You can mine these coins and then trade them at crypto ... Mythili Raman Acting Assistant Attorney General, Criminal Division of the US Department of Justice stressed that virtual currency services are not in and of themselves illegal. Mythill expressed that law enforcement must remain vigilant and understand the challenges of anonymity continue to keep up with innovation. Similar to Jennifer Shasky of FinCen, Mythili highlighted that current money ... At the Senate hearings, Mythili Raman, acting assistant attorney general in the Department of Justice's criminal division, said since every transaction of every bitcoin is recorded, that ...

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