Anyone with a level head would read this and notice the glaring lack of research and round-about way it talks about bitcoin using explanations only bitcoiners use. It screams fake. Everything down to the style it's made in. The very fact that a document in 2008 looked similiar should be proof enough considering the FBI doesn't keep the same style of letterheads for 4 years.

Look at how they talk about Silk Road research. Look at how it sounds like a fanboy masturbating to himself while he pretends to be a cop. FBI doesn't talk like this. FBI doesn't care. If I had to hazard a guess, I'd say it's an elaborate troll to present some kind of legitimacy of Bitcoin so that the price changes.

There are no sources for this document, no trail, etc. It is not recognized by anyone other than a dude on a forum someplace? Give me a break. Have the person who actually retrieved this file swear an affidavit and we'll protect them through freedom of the press laws in the UK. Anything else is just a bunch of nonsense and I'm disappointed to see such a large group of people falling for it. I thought you guys were smarter than this.

+1 He sounds very afraid, I wonder why?

I do however find the 'bitcoinadvertisers.com' in the metadata of the scribd posting suspicious.

Matthew is right to point this out.

OP - care to clarify?  

edit: It's not clear to me whether this indicates anything to do with who posted the doc to scribd - or if it's just scribd software matching keywords to post the bitcoinadvertisers.com ad in the sidebar.
edit2: oh.. though it seems 'tradebitcoin' uploaded the doc.  Well that is pretty sus.

Maybe they need to do something to keep their job interesting?  I'm sure all the white covers get boring after time, so a cool picture might impress their boss?

I'm still on the fence on whether it's fake or not (haven't read it yet)...

Because he wanted a signed affidavit from the leaker to make himself feel important because he would protect him under the freedom of the press laws for unpublished magazines on the UK...

Or he's just mad because being a magazine(?) editor he should be the one to score the scoops, yet he has none to show on his magazine(?) even after 5 months of publishing delay

I have read enough (U//FOUO) documents in my time, and this one fits right in.  The tone, the balance, and the constant declaration of "confidence" in a given statement is consistent with legitimate reports.  The crappy resolution is completely irrelevant, as the document was probably scanned or modified in some way to hide any information that could trace it back to the person who leaked it.

I'm impressed with the balance of the report.  I'm disappointed it doesn't mention any more about the legitimate uses of Bitcoin, but it is an organization devoted to fighting crime.  I can forgive them for that...

By the way, do you really think a troll would spend the time creating 4 pages of endnotes?    Plus, there's nothing really groundbreaking or sensational in the report that would justify spending weeks putting this together as a sham.  It's too boring to be a troll...

I like the survey at the end. It seems to be scraped from a webpage accessible by run-of-the-mill LEO.

I was already working on this when I saw you post this, because I started to try to read it and my eyeballs started bleeding.

Unfortunately, I think any OCR program is going to struggle hard with this blurry low-res text.  Here's the best my meager offering could come up with.  Is this any better?     Here's a sample of the first page:

-------------------------

(U) ExecutlveSununary

{U/IFOUO) Bitooin-a det:enJra/ized, 1 peer-to-peer {P2P) network-􀄎d t•irfllill currencypro\'
ides a venue for indi \'idual􀁤 to generate, transfer, launder, and steal illicit funds with some
anony1nity. Bitooin offers rnany of the sarne challenges associated with other \'irtual currencies,
such as Wehr\•loney, and adds unique complexit ies for investigators because of iL� decemrali7..ed
nature.
{U/IFOUO) The FBI a􀁥sesses with nlt!diUin confidence1 that, in the near tenn, cyber cri•ninals
will treat Bitooin a􀁥 another p.ay1nem option alongside 1nore traditional and established \'irtual
currencies which they have little reason to abandon. This a􀁥sessmem i.�; ba..􀄏ed on Ouctuations in
the bitcoin exchange rate in 2011 and li.n.ited reponing indicating bitcoi1lS are being accepted a􀁕
p.ay1nem by so1nt cyber criminal􀄒.
{U/IFOUO) The FBI assesses with low confidence, based on current user and vendor acceptance,
thatrnalicious actors will exploi1 Bitcoi n to launder money. This assessment is based on
observed cri1ninal acti vi1ies, investi􀄐tions, and prosecutions of individual􀁤 exploiting other
vir!Ual currencies, such a􀁕 e....Qold and Webf\·loney. A lack of current .eponingspecific to Bi1coin
restricts the confidence level.
(U/IFOUO) Even though there is no oentral Bitooi n server to compro1ni.􀂎e, the FBI a􀁕sesses wi1h
high confi dence, ba..􀄑ed on reliable industry and FBI reponing, that cri.n.inals intending to steal
bi1coins can target and e:<ploil third-p.any bi1ooin services and an individual's Bittbin wallet.
f\•lalicious actors can comprom.ise personal co1nputers and accounts using ma/waw and hacking
techniques to steal useJS' bitooins and use b<Jtnets to generate bi1coins.
{U/IFOUO) Bi1ooin will li kely continue to attract cybercri1ninal􀁤 who view i1 as a means to
.nove or steal funds a􀁕 well a� a 1neans of making donations to illici1 groups. If Bi1coin stabili?"..es
and grows in popularily, it will beco m e an increasingly useful tool for various i !legal acti vi lies
beyond the cyber .eal1n. Since Bitooin does not have a oentrali7..td authority, law enforoe.nent
facesdifficuhies detectingsuspicious activily, identifying users, and obtaining transaction
recon:ls-proble.n.� that m.ight attract •n.alicious actors to Bitooi n. Bi1coin m.ight also log ically
attractrnoney launderers and other criminals who avoid traditional financial systems b y using the
Internet to conduct global 1nonetary transfers.
{U/IFOUO) Although Bitooin does not have aoentrali7..td authority, the FBI as..�esses with
medium confidence that law enforce1nem can identify, or di.􀂎cover more information about
1n.alicious actors i f the actors conven their bilcoins into a fiat currency. Third-p.any bi1coin
services 1nay require customers to subm.it valid identification or bank infonn.ation to co.nplete
transactions. Furlhennore, any third-p.any service that qualifies as a mbney transm.iuer 1n.ust
register a� a mbney services busine.u with the Financial C1i1tleS Enforoe1nem Netwo•·k {FinCEf\1')
and i•nple�tll!'nt an anti-nlOney laundering program.

Yup, when the scan is that bad, usually the fastest/easiest thing to do is get someone in a low-wage country to just re-type it for you.  It's like trying to OCR 20 pages of CAPTCHAs.