Tuesday, May 28, 2013


...a continuing saga.  If you are going to compete with the most recognized brand in the world (the U.S. Dollar), you had better have more backing than a few developers and a quirky DIY community.

This news snippet does not bode well for the future of Bitcoin.

Federal prosecutors have accused Liberty Reserve, a digital currency company, and its founder of running a $6 billion money laundering operation that became a "bank of choice for the criminal underworld."

The case, described by federal prosecutors in Manhattan as one of the biggest money-laundering schemes ever uncovered, comes just months after regulators warned that digital currency exchanges should follow traditional antimoney laundering rules.

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