Today the Bitcoin Foundation filed comments with FinCEN regarding the regulator’s Notice of Finding in the Liberty Reserve case. Though Liberty Reserve was not a bitcoin company, FinCEN’s reasoning in the filing makes implications that could be applied to digital currencies in general. Accordingly, the Bitcoin Foundation seized the opportunity to remind FinCEN of a number of important points. In May, the operators of Liberty Reserve were arrested on money laundering charges. The company, operating out of Costa Rica, used a centrally-issued digital currency mechanism to facilitate monetary transfers globally – often with little or no background checks into the identity …
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