Bitcoins have become a popular topic of discussion recently, as lawmakers and regulators address the complex questions revolving around this digital currency.
Bitcoins have become a popular topic of discussion recently, as lawmakers and regulators address the complex questions revolving around this digital currency. For example, the virtual Bitcoins are now being used more frequently by online sports gamblers to wager on professional and college sports, as the anonymity gives sports gamblers a chance to circumvent federal anti-betting laws, according to Yahoo Sports.
Bitcoin technology is fully encrypted and managed by an expansive, but de-centralized, network, making it difficult for government officials to track their usage, the news source reports. The complexity of the encryption also makes the Bitcoins nearly impossible to trace, especially as they become more mainstream.
In addition, the unexpected emergence of the Bitcoin as a potential gambling tool is still fresh, meaning that a finite set of sports law provisions governing the use of the digital currency may not be in place.
The elusive Bitcoins have already been implicated as a facilitator in several categories of crime, ranging from arms and narcotics deals to sex trafficking. In a recent story detailing how Bitcoins can be used for drug purchases, Senator Chuck Schumer called the currency an “online form of money laundering,” the Washington Post reports.
As the currency gains more of an online presence and serves as a channel for circumventing sports gambling and other types of laws, regulators are struggling to create legislation to define and govern the use of the popular technology.
Scarinci Hollenbeck Expands NYC Real Estate and Litigation Practices ADDING four litigators
NYC Real Estate and Litigation Attorney Ryan O. Miller and Team Join Scarinci Hollenbeck, LLC New York City, NY – August 13, 2025 – Scarinci Hollenbeck, LLC has strengthened its Real Estate and Litigation practices with the addition of four New York City-based attorneys. Ryan Miller, who joins as a partner, is well known for […]
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How to Conduct a Fair and Legal Employee Termination in 2025
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Admin Dissolution for Annual Report: What You Need to Know
While filing annual reports may seem like a nuisance, failing to do so can have significant ramifications. These include fines, reputational harm, and interruption of your business operations. In basic terms, “admin dissolution for annual report” means that a company is dissolved by the government. This happens because it failed to submit its annual report […]
Antitrust laws are designed to ensure that businesses compete fairly. There are three federal antitrust laws that businesses must navigate. These include the Sherman Act, the Federal Trade Commission Act, and the Clayton Act. States also have their own antitrust regimes. These may vary from federal regulations. Understanding antitrust litigation helps businesses navigate these complex […]
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