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Bitcoin, Crypto Currencies, Fraud, Legal Issues, Financial Regulations. Introduction. Less than ten years ago on May 2010, Laszlo Hanyecz who traded 10,000. This paper aims to identify and review the legal policies surrounding the use of crypto currencies in a number of jurisdictions, particularly in. United States virtual currency law is financial regulation as applied to transactions in virtual For example, the Bitcoin exchange Coinbase charges only 1% on all Bitcoin exchanges to legal tender. he has made a tactical decision not to reveal that he does" thus claiming that Ulbricht "therefore has no basis to challenge".