[QODLink]
Americas

Bitcoin men face money laundering charges

US prosecutors file charges against men who attempted to sell $1m in digital currency to users of black market website.

Last updated: 28 Jan 2014 02:50
Email Article
Print Article
Share article
Send Feedback

US prosecutors have announced charges against two men operating Bitcoin exchange businesses for trying to sell $1m in the digital currency to users of the underground website Silk Road, shut down by authorities in September.

The US Attorney's office in New York said in a statement that authorities arrested Charlie Shrem, chief executive officer of the exchange BitInstant.com, on Sunday and Robert Faiella, who ran an underground Bitcoin exchange called BTCKing, on Monday.

The two were charged with conspiring to commit money laundering and operating an unlicensed money transmitting
business.

Shrem is also vice president of the main Bitcoin-focused trade group, the Bitcoin Foundation, according to the foundation's website and Shrem's LinkedIn profile.

 

112

Source:
Al Jazeera and agencies
Email Article
Print Article
Share article
Send Feedback
Featured on Al Jazeera
UNHCR says hundreds of people trapped in Yaloke town risk death if they are not evacuated to safety urgently.
'Justice for All' demonstrations swell across the US over the deaths of African Americans in police encounters.
Six former Guantanamo detainees are now free in Uruguay with some hailing the decision to grant them asylum.
Disproportionately high number of Aboriginal people in prison highlights inequality and marginalisation, critics say.
Featured
Long-standing dispute over Christian use of the word 'Allah' raises concerns about a very un-Merry Christmas.
The threat posed by ISIL has prompted thousands of young Kurds to join the PKK.
Baja California - with its own grim history of disappeared people - finds a voice in the fight against violence.
Russian feminist rockers fight system holding 700,000 - the world's largest per capita prison population after the US.
Weeks of growing protests against Muslims continue in Dresden with 15,000 hitting the streets last Monday.