The US Treasury's Financial Crimes Enforcement Network (FinCEN) issues its first regulatory guidance on virtual currencies, classifying Bitcoin exchanges and certain administrators as money services businesses subject to Bank Secrecy Act requirements. The guidance is a watershed moment -- the US government officially acknowledges Bitcoin exists and applies existing financial regulations to it. The ruling forces exchanges to implement KYC/AML procedures and shapes the regulatory landscape for years to come.
FinCEN Guidance FIN-2013-G001