08 Feb '14, 1am

Bitcoin money laundering case may threaten future of anonymous purchases

Bitcoin money laundering case may threaten future of anonymous purchases

Bitcoin 's popularity has come with ups and downs, the most recent of which being criminal charges against vendors for money laundering, something believed to be the first case of its kind. Unfortunately, the arrests involved transactions that took place over one of the last remaining destinations to buy anonymous Bitcoins, endangering the future of the cryptocurrency's anonymous future. Yesterday, Florida law enforcement announced the arrests and criminal charges against two individuals under anti-money laundering laws: Michell Abner Espinoza and Pascal Reid. The arrests were made after a joint investigation between Miami Beach Police Department and the Miami Electronics Crimes Task Force, which is part of the US Secret Service. The investigators targeted individuals performing or facilitating Bitcoin transactions with large dollar amounts through localbitcoins.com, a ser...

Full article: http://www.slashgear.com/bitcoin-money-laundering-case-ma...

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