...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.