Bitcoin Exchange CEO Arrested

    SALT LAKE CITY, UT - APRIL 26: A pile of Bitcoins are shown here after Software engineer Mike Caldwell minted them in his shop on April 26, 2013 in Sandy, Utah. Bitcoin is an experimental digital currency used over the Internet that is gaining in popularity worldwide. (Photo by George Frey/Getty Images)

    George Frey/Getty

    Bitcoin Exchange CEO Charlie Shrem was arrested today at JFK Airport and charged with money laundering for his company’s involvement with Silk Road, an online black market. U.S. District Attorney Preet Bharara filed charges against Shrem and a co-conspirator for selling over $1 million in bitcoins to Silk Road users, who would then use the currency to purchase illegal drugs and other items. "Hiding behind their computers, both defendants are charged with knowingly contributing to and facilitating anonymous drug sales, earning substantial profits along the way," said DEA agent James Hunt.

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