Tag: Informal Value Transfer System

By of MillarLaw A Professional Corporation On Sunday, February 22, 2015

The use of Bitcoin has both legal and potentially illegal applications. Bitcoin is just a contemporary version of the Informal Value Transfer System, (“IVTS”) which in some countries is known as the Hawala. The IVTS has been used for international money transfers according to the Financial Crimes Enforcement Network (FinCen) for the following reasons: “IVTS-type … Continue reading How Not to Use Bitcoin