[Updated 3/3/2014, 6:00 PM]
Now that Mt. Gox has crashed, regulators are clamoring to make the case that regulation is needed in the bitcoin market. However, I find that to be an unfounded argument. While I was watching Friday’s Newshour segment on the issue, the interviewee mentioned that there are other bitcoin providers that have essentially taken Mt. Gox’s code and modified it somewhat. Taking this into account, free-market supporters should point out that there are more variables to the situation than the fact that these are unregulated currencies.