There’s a big difference between bringing down a currency and simply trying to regulate it.Today a top US financial crime official said digital currencies like bitcoin shouldn’t fear government plans to regulate them like regular old financial institutions.“Administrators or exchangers of virtual currencies have registration requirements and a broad range of [anti-money-laundering] program, recordkeeping, and reporting responsibilities.Those offering virtual currencies must comply with these regulatory requirements, and if they do so, they have nothing to fear from Treasury,” said Jennifer Shasky Calvery, director of the Treasury’s Financial Crimes Enforcement Network, or FinCen, in prepared remarks for a conference on the virtual economy.They probably shouldn’t, even though government-skeptic digital currency fans may not believe it.We’ve said the same before, but to make the point clearer, let’s look at what the US does when it really wants to destroy a currency.Last week, the Treasury announced a new package of sanctions targeting Iran’s currency, the rial.

The US has decided to make the country’s currency “useless” as a way to squeeze its economy and squelch its nuclear program.(Whether economic sanctions actually influence Iran’s plans is unclear).The value of the rial has already been dropping for the past two years, due to an international sanctions regime that has slowed trade with the country and caused prices to rise.With fewer US dollars entering the country, the price of the dollar relative to the rial has risen sharply: In an attempt to reverse the trend, Iran has sought to control the official rial-dollar exchange rate.anonymous bitcoin walletThe unofficial exchange rate for dollars on the black market is as high as 36,000 rials.bitcoin italia forumBut the United States still isn’t satisfied.bitcoin burning man

US President Barack Obama announced on June 3 that any institutions merely holding the Iranian currency or making large transactions in it would be unable to do business or hold assets in the United States.Since most global financial institutions want to maintain their US business, it essentially makes the rial illegal, at least in the West.Now, compare those draconian policies to what the government is asking of bitcoin and other virtual currencies: Keep track of who your customers are and whether they are trying to perform illegal transactions.bitcoin cooThat’s not so bad, is it?litecoin que esGreen Day - ¡TRE!bitcoin stealer 2015(Yellow Colored Vinyl) 2299 Green Day - Shenanigans 2299 The Flaming Lips - Clouds Taste Metallic 2298 The Flaming Lips - The Terror 3499 Eric Clapton - Complete Clapton (Box Set) 6999 The Flaming Lips - With A Little Help From My Fwends (Neon Orange Vinyl) 2299 Green Day - Nimrod 2299 Green Day - ¡DOS!how bitcoin works forbes

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Viewing Tweets won't unblock @bitcoinlovers2 Loading seems to be taking a while.Sign up Add a location to your Tweets When you tweet with a location, Twitter stores that location.For a better experience on Facebook, update your browser.BITCOIN EARNERSPublic groupBuying actual bitcoins has proven dangerous, to say the least.Just look at the unbelievable turbulence in Bitcoin prices -- the currency's value shot up 6,000% in one year before collapsing in value -- and the alleged fraud at the Mt.Gox Bitcoin exchange that led many investors to lose money.In theory, an exchange-traded fund, or ETF, that mirrors the price of Bitcoin would offer a somewhat safer alternative.Think: something akin to SPDR Gold Shares ETF (GLD), which tracks gold prices.But no Bitcoin ETFs have been created.An effort by the twins Cameron and Tyle Winklevoss to do just that has been waiting two years to receive approval from regulators.The Securities and Exchange Commission is still trying to figure out how to define and oversee Bitcoin.

This week, ARK Investment Management announced a full embrace of the digital currency.Its ARK Web x.0 ETF (ARKW) became the first ETF to invest in bitcoins."Current prices present an attractive entry point for our investors," Cathie Wood, ARK's founder and chief investment officer, said in a statement.But before taking a leap, it would be smart to read the fine print of the ETF, which trades under the ticker symbol "ARKW."First, it's not a pure play on Bitcoin.Even though it announced the Bitcoin play, the ETF is actually an investment in what it calls disruptive technologies.The crypto currency represents just a slice of its holdings, packaged along with Netflix (NFLX, Tech30), LinkedIn (LNKD, Tech30) and athenahealth (ATHN), a cloud-based provider of electronic health records.Second, the ARK ETF is not actually investing directly in bitcoins.It's buying shares of something called the Bitcoin Investment Trust.Most people haven't even heard of that.That trust started trading in May on the pink sheets under the ticker symbol "GBTC."

It's got a market valuation of under $40 million and very little trading volume.The pink sheets, also known as the over-the-counter market, provide less transparency and oversight from regulators.They're like a Wild West alternative to the New York Stock Exchange and Nasdaq.", a research firm.GrayScale, which sponsored the Bitcoin trust, defended the decision to list on the pink sheets and noted that a number of major foreign companies such as Adidas (ADDDF) and Roche (RHHBF) list their U.S.Another problem is that the investment hasn't really mirrored the price of Bitcoin, which defeats the purpose.At times the trust's shares have spiked or surged -- even though underlying Bitcoin prices were relatively calm."You're not really getting Bitcoin here.You're getting a Bitcoin derivative that kind of tracks the price of Bitcoin -- but not really well," said Hougan."There are a bunch of leaps of faith in that chain of command."The ETF company brushed away these concerns, suggesting that price volatility is actually a good sign.