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The two other cryptographers from Britain had no history with large software projects. Still, Lewis Solomon, a professor emeritus at George Washington University Law School, who has written about alternative currencies, argues that creating bitcoin might be legal. “Bitcoin is in a gray area, in part because we don’t know whether it should be treated as a currency, a commodity like gold, or possibly even a security,” he says.

Some exchanges are unregulated, some are not available to customers in certain countries, and all are vulnerable to an ever-changing regulatory environment. After China’s crackdown on cryptocurrency in November 2017, Chinese exchanges were forced to move their operations elsewhere or shut down completely. Other exchanges recently suspended service to Japanese customers following new guidelines issued by the Japanese Financial Services Agency.

They do all the Immediate Edge verifications, as they are regulated by the US government and they will accept the bitcoin and wire us US dollars. Globally, these kinds of tokens are mainly used in the crypto community by people that believe in and are willing to hold it. What we are trying to develop over the next 12 months or so is a payment solution that retailers can adopt to accept payment.

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