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U.K. Authorities look to Deem Bitcoin as Cash to Facilitate Cryptocurrency Seizures A new report, published by the N8 Policing Research Partnership, states that law enforcement faces various challenges when it comes to cryptocurrencies and that, although these challenges are mostly driven by the lack of knowledge and tools, they would be lessened if bitcoin were categorized as cash. This would facilitate seizures in the cryptocurrency, which the report states facilitates money laundering and criminal activities. The report starts by…

Bitcoin is going wild — here's what the cryptocurrency is all about Bitcoin is a currency just like the US dollar or Mexican peso. It's also back in the headlines after soaring in value. One bitcoin was worth $2,800 on May 25, up from $1,200 at the end of April. In countries that accept it, you can buy groceries and clothes just as you would with the local currency. Only bitcoin is entirely digital; no one is carrying actual bitcoins…