16 May '13, 12pm

Bitcoin Exchange in U.S. Crosshairs Banked at Wells Fargo

Bitcoin Exchange in U.S. Crosshairs Banked at Wells Fargo

A move by the U.S. government to rein in the unregulated use of Bitcoin involved the seizure of a Japanese company's account at Wells Fargo (WFC). Mt. Gox, the world's largest exchange for trading the virtual currency, has operated as an unlicensed money transmitting business in violation of federal law, the Department of Homeland Security charged in warrants issued recently by the U.S. District Court in Baltimore. The warrants authorize the government to seize funds held in accounts that Mt. Gox, based in Tokyo, allegedly maintains at Wells Fargo, the nation's fourth-biggest bank, and at Dwolla, an alternative payments provider in Des Moines, Iowa. While opening a Wells Fargo account for a subsidiary in 2011, Mt. Gox's chief executive allegedly answered "no" when asked by the bank if his company dealt in, exchanged or transmitted money. A Wells Fargo spokesman would not d...

Full article: http://www.americanbanker.com/issues/178_95/bitcoin-excha...

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U.S. law enforcement officials cracked down this week on the Bitcoin economy's biggest exchange, Mt. Gox, accusing its ope...

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U.S. law enforcement officials cracked down this week on the Bitcoin economy's biggest exchange, Mt. Gox, accusing its ope...

Bitcoin exchange Mt. Gox lands in feds' crosshairs

money.cnn.com 16 May '13, 9pm

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businessinsider.com 17 May '13, 4pm

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theverge.com 16 May '13, 10am

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