Authored for PolicyMic.
The Department of Homeland Security (DHS) on Tuesday May 14 shut down Dwolla, a mobile payment website that helped to facilitate bitcoin transactions. Bitcoin is the recently flourishing form of virtual currency that has to date largely escaped the reach of federal regulators. The action by the DHS means that investors may be more inclined to take their business to other countries in the future.
The DHS failed to provide immediate specifics on the reason for its action.