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Abstract

On July 29, 2011, FinCEN published a final rule on definitions and other regulations relating to prepaid access better known as the “prepaid access rule.” All existing digital currency companies and agents engaged in US business were now considered to be operating under the “prepaid access” rule with very few exceptions. Several large digital currency companies withdrew from the US market. Bitcoin was proven to not be subject to the new Prepaid Access Rule.

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Notes

  1. 3.
    C. Mullan, 2011. GM=No More Money Transmission Just Metal Sales. [online] Available at: http://www.issuu.com/dgcmagazine/docs/digital-gold-currency-magdecember-zou (accessed: December 14, 2013).Google Scholar

Copyright information

© P. Carl Mullan 2014

Authors and Affiliations

  • P. Carl Mullan
    • 1
  1. 1.PDX Currency CorporationUSA

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