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 […]

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