Bit coin bit the dust
By JEFFREY SPARSHOTT And ROBIN SIDEL
WASHINGTON—U.S. officials dealt a blow to the fledgling digital currency called Bitcoin, freezing an account tied to the largest Bitcoin exchange just months after regulators warned such entities should follow traditional anti-money laundering rules.
U.S. officials dealt a blow to the fledgling digital currency called Bitcoin, freezing an account that is tied to the largest Bitcoin exchange just months after regulators warned that such entities should follow traditional rules on money laundering. Jeffrey Sparshott joins digits. Photo: Getty Images.
The Department of Homeland Security obtained a warrant Tuesday to seize an account tied to Mt. Gox, a Tokyo-based exchange that says it handles 80% of all Bitcoin trading. The warrant alleges the company and a subsidiary were conducting transactions “as part of an unlicensed money service business.