Truth's Flashlight

Here’s Why The Feds Seized Assets From The World’s Biggest Bitcoin Exchange

from BIN

coin-5Ars Technica reports on the finer details of how the government was able to seize a bunch of cash from Mt. Gox, the world’s largest Bitcoin exchange.

Homeland Security says it had probable cause to believe that Mt. Gox is guilty of money transmitting without a license. Companies like PayPal and Western Union have this license, but Mt. Gox does not.

Punishment for money transmitting without a license is a fine or a maximum of five years in jail.

Mt Gox Dwolla Warrant 5-14-13