When the federal government seized the assets of Bitcoin exchange BitInstant for $2.2 billion in January, it was seen as a major milestone in the evolution of Bitcoin’s mainstream usage.
But as the price of Bitcoin soared, the government was forced to make a decision about what to do with the seized assets.
How can it be used as money, or is it a tool to track and punish criminals?
It turns out the government has no legal obligation to help the Bitcoin community, which is a big reason why it was not using Bitcoin as currency.
The Bitcoin Foundation, which manages Bitcoin’s development and use, was recently given the task of creating a plan for how the government should use Bitcoin.
The plan includes guidelines for the government to enforce against Bitcoin users who use it as a currency, and an outline of what the government could do with bitcoins.
But a new report from The Federal Reserve Bank of New York (the Fed), which is tasked with overseeing the government’s money supply, shows that the Bitcoin Foundation has been left out of the process.
The Fed says it “does not have a legal obligation” to assist the Bitcoin Community.
The report, published on Friday, is critical of the Federal Reserve for not having a clear, legally binding plan for the use of Bitcoin as a means of currency.
While Bitcoin is not an official currency, it has been used as a form of payment for many purposes.
In addition to its use as a store of value, Bitcoin also facilitates the transfer of value and payments.
The U.S. Department of the Treasury, which oversees the federal money supply (the federal government’s official monetary policy tool), has long issued guidance on the use and regulation of Bitcoin.
It explains that Bitcoin transactions are not subject to U.K. or other U.N. sanctions and that the U.s. government has authority to seize the assets, including Bitcoin, of Bitcoin users.
The Fed, however, has never published a formal legal plan for Bitcoin as it is not a currency.
The central bank has never issued a legal plan, nor has it ever issued guidelines for how to handle Bitcoin transactions, according to The Federal Times.
A number of other nations, including Switzerland, have developed their own legal guidelines for Bitcoin.
Bitcoin users and businesses are encouraged to submit their own plans and advice on how to regulate Bitcoin.
The Federal Reserve is not the only entity in the federal budget that has never made any official guidance for the future use of bitcoin.
The budget also has no plan for regulating Bitcoin.
However, it does say that the Fed “recognizes that bitcoin is a technology that can have a significant impact on the financial system and on economic activity.”
The U.E. and the European Union have plans for regulating bitcoin.