25 Aug '13, 12pm

The Federal Government's Reaction To Bitcoin Is An Acknowledgement Of The Dollar's Vulnerability

The Federal Government's Reaction To Bitcoin Is An Acknowledgement Of The Dollar's Vulnerability

Personal Liberty Digest quotes U.S. Attorney Preet Bharara as saying about the Liberty Reserve case, “The global enforcement action we announce today is an important step towards reining in the ‘Wild West’ of illicit Internet banking. As crime goes increasingly global, the long arm of the law has to get even longer, and in this case, it encircled the earth.” But there is nothing on the public record I can see showing that there was anything illicit about Liberty Reserve. It is Bharara’s “global enforcement action” which is the first documented abuse I have seen of the Patriot Act, warranting Congressional investigation and correction. Without convicting any Liberty Reserve customer of breaking any law by converting money into a virtual currency and transferring it from account to account, Bharara’s “global enforcement action” against Liberty Reserve is an apparent violatio...

Full article: http://www.forbes.com/sites/peterferrara/2013/08/25/the-f...

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