IS BITCOIN IN DANGER?

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LEGAL TIP OF THE WEEK

IS BITCOIN IN DANGER?
Recent news reports that one of the biggest Bitcoin exchangers is pulling out of trades. One of China’s largest Bitcoin exchanges has ordered all Bitcoin exchanges in China to close. The announcement caused the commodity to fall by 6% overnight, leaving investors shaking. And here at home the U.S. government has issued certain tax guidelines regarding Bitcoin, specifically stating virtual money that has a true cash value (like Bitcoin) is subject to taxation. Concerns about fraud and illegal activity also surround the Bitcoin controversy, because of the ability to trade anonymously.
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