Saturday May 18, 2013

U.S. Authorities Seize Accounts of Major Bitcoin Operator

Two accounts associated with the Bitcoin exchange, Mt. Gox, have been seized by US authorities for violations of federal law as an unlicensed money transmitter. What effect the two seizures will have on the Bitcoin market is still uncertain at this point.

Treasury's anti-money laundering unit, the Financial Crimes Enforcement Network (FinCEN), in March issued guidance that dubbed digital currency exchanges money transmitters, a finding that obliged such businesses to register with FinCEN and obtain any mandated state licenses.

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