Imagine how much easier life might have been for Breaking Bad’s Walter White if he could have laundered his meth money through Bitcoin instead of setting up a carwash as a cover business? Wired reports that attorney Joshua Dratel, who is representing the alleged founder of online drug den Silk Road, is arguing that his client couldn’t be guilty of money laundering because all of his alleged transgressions were done with Bitcoin, which the Internal Revenue Service recently said was not a currency. “Both IRS and FinCEN have categorically declared that Bitcoins are not ‘funds,’” Dratel wrote in a recent memorandum to get money laundering charges against his client dismissed. “Thus, an essential element of §1956 – a ‘financial transaction’ – is absent because
Lawyer for Alleged Silk Road founder concocts the best defense against money laundering charges
02
Apr
2014
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