01 Apr '14, 5pm
Alleged Silk Road Creator's Lawyer Denies Bitcoin Is 'Monetary Instrument,' Moves To Drop All Charges
As bold as it seems, Dratel’s argument against Bitcoin’s inclusion in money-laundering laws isn’t necessarily the most important for his client’s fate. He also argues that the majority of the charges against Ulbricht should be dropped because he didn’t actively participate in any of the narcotics trafficking, computer fraud, or money laundering prosecutors accuse the Silk Road of enabling. Instead, Dratel says, he merely hosted the platform on which those illegal activities were carried out by the Silk Road’s users–After all, the site served as a third-party e-commerce marketplace, with a business model closer to e-Bay’s hosted sales rather than Amazon’s actual stocking and shipping of goods.