Staying Informed

Executives at Bitcoin startup face money-laundering charges

Two operators of BitInstant, an online Bitcoin exchange business, were arrested for money laundering tied to the sale of illegal drugs using Bitcoin, facing 25 years or longer in prison, the Manhattan U.S. attorney said Monday. Charlie Shrem, CEO at BitInstant, and Robert Faiella, the site’s compliance officer, were charged with scheming to sell more than $1 million worth of bitcoins to users of ...

 

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