--- title: "Bitcoin Foundation Tries Building Dialogue With Federal Regulators" id: "19165" type: "post" slug: "bitcoin-foundation-tries-building-dialogue-with-federal-regulators" published_at: "2013-08-26T19:42:34+00:00" modified_at: "2026-11-09T19:01:23+00:00" url: "https://associationsnow.com/2013/08/26/bitcoin-foundation-tries-building-dialogue-with-federal-regulators/" markdown_url: "https://associationsnow.com/2013/08/26/bitcoin-foundation-tries-building-dialogue-with-federal-regulators.md" excerpt: "With interest in (and scrutiny of) virtual currency at an all-time high, the Bitcoin Foundation is hoping to improve the industry’s standing among regulators and members of Congress through cooperation." taxonomy_category: - "Advocacy" taxonomy_post_tag: - "AssociationsNow" - "Business" - "cryptocurrency" - "government cuts" - "Regulations" taxonomy_content_format: - "Article" taxonomy_role: - "Association CEO / Executive Director" - "C-Level" - "Executive Team" taxonomy_persona: - "Executive Leadership" --- [Home](https://associationsnow.com/) » [Articles](https://associationsnow.com/format/article/) » Bitcoin Foundation Tries Building Dialogue With Federal Regulators The concept of virtual currency, particularly the popular Bitcoin, takes a little time for people—and the federal government—to wrap their heads around. But the Bitcoin Foundation, itself the target of regulatory scrutiny at the state level, is working to build relationships with federal regulators—something that might come in handy as the virtual currency becomes more established with the public. More details: **The problem:** Bitcoin, which has received a lot of media hype in recent months, has a bit of a perception problem. Its anonymous nature has led to its use in the illegal drug trade and gambling, and some public entities worry the virtual currency could defraud investors and the public alike. The Bitcoin Foundation, which was founded to “promote, protect, and standardize the Bitcoin protocol” but does no exchanging of money itself, found itself in these murky waters this year [after the state of California raised concerns](http://associationsnow.com/2013/07/beyond-dollars-and-cents-bitcoin-foundation-faces-scrutiny-in-california/) that the organization was engaging in unlicensed money transmission. The foundation denies the charges, which it says come from a fundamental misunderstanding of how the currency works. **An opportunity for dialogue:** On Monday, the Bitcoin Foundation was scheduled to meet with representatives from seven federal agencies—including the Internal Revenue Service, Federal Reserve, Treasury Department, Office of the Comptroller of the Currency, Federal Deposit Insurance Corp., the FBI, and the Secret Service. The goal: to help them better understand the digital currency and to provide information on the industry’s efforts. “We understand there are specific challenges that go along with Bitcoin and there is a lot of potential and we want to work with them to chart a safe course,” Patrick Murck, general counsel for the foundation, [told The Wall Street Journal (opens in a new tab)](http://online.wsj.com/article/SB10001424127887324906304579035192895707228.html) . The group seeks to encourage cooperation between the industry and the federal government. “Our hope is that this is the beginning of an open and transparent dialogue between good-faith stakeholders to find common ground and develop public-private partnerships,” Murck [told the virtual-currency news outlet CoinDesk (opens in a new tab)](http://www.coindesk.com/federal-agency-representatives-meeting-to-discuss-bitcoin/) . This isn’t the only such meeting that the foundation has set up for this week—on Tuesday, its representatives are set to meet with congressional staffers. (photo by btckeychain/Flickr) [Ernie Smith](https://associationsnow.com/author/ernie-smith/) Ernie Smith is a former senior editor for Associations Now. [More articles by this author](https://associationsnow.com/author/ernie-smith/) Tags: [#Business](https://associationsnow.com/tag/business/) [#cryptocurrency](https://associationsnow.com/tag/cryptocurrency/) [#government cuts](https://associationsnow.com/tag/government-cuts/) [#Regulations](https://associationsnow.com/tag/regulations/) **Stay Informed** [Subscribe to our free newsletter](https://associationsnow.com/newsletter/) , *Associations Now Daily News*, to find out what’s happening in the association world every business day. ## You Might Like - [VideoThe Career Moves Every Association Leader Needs Right NowSeptember 24, 2026](https://associationsnow.com/2026/09/24/the-career-moves-every-association-leader-needs-right-now/) - [VideoUrban Land Institute- Project Recovery: Rebuilding Los Angeles After the January 2025 WildfiresSeptember 24, 2026](https://associationsnow.com/2026/09/24/urban-land-institute-project-recovery-rebuilding-los-angeles-after-the-january-2025-wildfires/) - [VideoNCRA: Safeguarding Cancer Surveillance: An Advocacy Response to FY26 Budget ThreatsSeptember 24, 2026](https://associationsnow.com/2026/09/24/ncra-safeguarding-cancer-surveillance-an-advocacy-response-to-fy26-budget-threats/) - [VideoASAE Legislative Summit 2026March 26, 2026](https://associationsnow.com/2026/03/26/asae-legislative-summit-2026/) ## Comments **Comments are for ASAE members.** [Learn more about comments on this site.](https://associationsnow.com/comments/) [Log in](https://associationsnow.com/login?redirect_to=https%3A%2F%2Fassociationsnow.com%2F2013%2F08%2F26%2Fbitcoin-foundation-tries-building-dialogue-with-federal-regulators%2F%23comments) to your member account or [join ASAE](https://my.asaecenter.org/select-a-membership-type/) !