Friday, December 19, 2014

Bitcoin promoter gets two years prison over illicit money transmissions

A bitcoin ATM machine is shown at a restaurant in San Diego, California September 18, 2014. REUTERS/Mike Blake



A bitcoin ATM machine is shown at a restaurant in San Diego, California September 18, 2014.


Credit: /Mike Blake






- Charlie Shrem, an outspoken supporter of bitcoins, was sentenced to two years in prison on Friday for indirectly helping to send $1 million in the digital currency to the Internet black-market bazaar Silk Road.

Shrem, a former vice chairman of the Bitcoin Foundation, was also ordered by U.S. District Judge Jed Rakoff in Manhattan to forfeit $950,000 after pleading guilty in September to aiding and abetting an unlicensed money transmitting business.


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