US Regulator’s Confusion Around Bitcoin Is Exactly Why No One Wants Them Involved

Discussion around governmental regulation of bitcoin came to a furor over the last few days when one of the five commissioners of the US’s Commodity Futures Trading Commission (CFTC), Bart Chilton, commented on FT.com: “It’s not monopoly money we’re talking about here – real people can have real risk in these instruments, and we need to ensure that we protect markets and consumers, even in what at first blush appear to be ‘out there’ transactions.” The next day he stated on Bloomberg.tv: “In essence, we’re talking about a type of shadow currency, and there is more than a colorable argument …