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Virtual currencies in the USA

Thompson Coburn LLP via Lexology – “Given the convenience of established currency and payment systems, what is driving the ever-growing interest in Bitcoin and other virtual currencies? Interest comes from a confluence of several factors. The recent increase in the price of bitcoin showcased the status of this virtual currency as an asset class for investment. There has been a significant increase in hedge funds investing in virtual currencies and retail investors are also investing in and trading the asset. Further, trading markets are emerging – for example, the CBOE Futures Exchange (CFE) and the Chicago Mercantile Exchange (CME) have begun offering Bitcoin futures….”

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