Financial regulator hits 22 Bitcoin-related companies with subpoenas

12 August 2013Finance

Cyrus Farivar reporting for Ars Technica:

Late last week, the New York Department of Financial Services, the state’s banking regulator, sent 22 subpoenas to Bitcoin-related companies, according to a source familiar with the matter.

More bad news for bitcoins.

The regulator also released a memo, referring to the current bitcoin landscape as “a virtual Wild West for narcotraffickers and other criminals.”