Wherever you look, depositing money in Bitcoin is not for risk averse. Bitcoin rivals states' currencies and can be used for black market transactions, money laundering, illegal activities or tax evasion. As a result, governments may try to regulate, restrict or prohibit the use and sale of bitcoin, and some have already done so. Some other governments are introducing or preparing to introduce various laws related to Bitcoin. For example, the New York State Department of Financial Services completed regulations in 2015 that required companies dealing with buying, selling, transferring or storing bitcoin to record customers' identities, have to hire acompliance manager, and maintain their capital reserves. Thus; it has become mandatory for transactions worth $ 10,000 or more to be recorded and reported. Lack of uniform regulations regarding Bitcoins and other virtual currencies raise questions about the longevity, liquidity and universality of these currencies.