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A Bitcoin Primer on Jurisdiction

August 29, 2014

The Internet minimizes the importance of geopolitical boundaries. Online, individuals and businesses conduct transactions in distant states and countries with ever-increasing ease and frequency. Bitcoin further diminishes geopolitical distinctions, allowing users to opt out of government-backed currencies in favor of a shared, global medium of exchange. But doing so may place Bitcoin users and businesses under the authority of unfamiliar or burdensome foreign laws, facing the prospect of defending themselves in regulatory proceedings and lawsuits in far-away places.

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