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37 Hous. J. Int'l L. 581 (2015)
Bitcoin: The Napster or Currency

handle is hein.journals/hujil37 and id is 603 raw text is: BITCOIN: THE NAPSTER OF CURRENCY Stephen Small* I. ORIGIN AND EXPLANATION OF BITCOIN ............................ 585 A. Brief History of the Founding of Virtual C urrencies ................................................................... 585 B . W hat is B itcoin? .......................................................... 587 II. U SES OF BITCOIN ............................................................... 591 A. Illegal Uses of Bitcoin ................................................. 591 B. Legal Uses of Bitcoin .................................................. 605 III. INTERNATIONAL RESPONSE ............................................... 611 A . C h ina ........................................................................... 6 12 B . G erm any ...................................................................... 615 C . C a nada ........................................................................ 617 IV . U .S. R EGULATION .............................................................. 623 A. Current Regulation ..................................................... 623 B. Proposed Reform of Regulation .................................. 624 V . T AXATION ........................................................................... 632 A. Taxation Strategies Examined ................................... 632 B. Proposed Tax Reform ................................................. 636 V I. C ON CLU SION ...................................................................... 640 J.D., University of Houston Law Center, May 2015; B.B.A., Texas Tech University, 2012. The inspiration for this comment came from my personal experience with digital economies. I am incredibly blessed and thankful for the love, support, and advice of my friends and family. I would also like to extend a special thanks to Brendan Conley and Megan Davis for all of their guidance throughout the writing process.

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