[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
More than one-quarter of Gaza's population has been displaced, causing a humanitarian crisis.
Ministers and MPs caught on camera sleeping through important speeches have sparked criticism that they are not working.
Muslim charities claim discrimination after major UK banks began closing their accounts.
Italy struggles to deal with growing flood of migrants willing to risk their lives to reach the nearest European shores.
Featured
In Vietnam, 40 percent of all pregnancies are terminated each year, a rate that health officials are hoping to reduce.
Ivory Coast tackles internet fraud scourge, but analysts say criminals continue to outsmart authorities.
In US study, MIT scientists changed the emotions linked to specific memories in mice.
The seizure of the Tabqa airbase highlights the Islamic State's consolidation of power in eastern Syria, analysts say.
Traditional spring festival blossoms outside India through fun runs, raves and TV commercials.
join our mailing list