Liberty Reserve Indictment Shows Lack of Governance in Digital Currency

Liberty Reserve Indictment Shows Lack of Governance in Digital Currency

Last week, operators of the Liberty Reserve currency exchange were indicted for laundering $6 billion.

Liberty Reserve was part of a growing industry of online payment systems that allow illegal enterprises, from child pornography to weapons trafficking, to move money within an unregulated system, creating a hub for criminal conduct that is both centralized and global.

Explaining that the indictment will serve as a temporary blow to money launderers and others moving money on the boundary of legality, Gurpreet Dhillon, a professor of information security at Virginia Commonwealth University’s School of Business, told Trend Lines that digital currencies are here to stay.

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