Neither US regulators, Congress nor the press have a clear understanding of exactly what digital currency is.....they see a new technology and they automatically compare it to PayPal, a credit card processor.
Here is a newsflash for all you Washington types, the entire round Internet finance world does not fit into PayPal's square hole and you can't force it in.
The last photo I saw on the Webmoney site was Dmitriy Medvedev, the newly elected Russian president, at the Russian Internet Forum RIF-2008 in April, visiting with Peter Darakhvelidze, Director of Webmoney Corporate Affairs.
Value transfer systems are becoming more and more like cash and Washington will not find solutions to the issues if they don't even understand the problem. Trying to persuade the world, digital money is evil, by using the local press is taking a blindfolded attempt at regulating a global industry.
Brian, just for the record, Dr. Douglas Jackson from e-gold was one of the original members of the Financial Coalition Against Child Pornography, it was not just formed by credit card issuers.
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