Similarly, growing concerns over the online cash being used for illicit activities also led the US Treasury Department to implement new money-laundering rules in April, forcing Bitcoin and other virtual currency firms to comply with strict regulation.

Potential regulation of Bitcoin has been a hot topic in the US and in several European countries for some time, with national regulators unsure on whether the virtual currency falls under their jurisdiction. This even led several national regulators to suggest that international virtual currencies might entail regulation by a global regulatory body, rather than on national levels alone.

However, with this latest criminal case by the SEC, the concerns relating to Bitcoin are becoming more apparent and specific regulation on virtual currencies might be a step closer.