Liberty Reserve Case Could Wind Up Helping E-Currencies
Law360, New York (May 28, 2013, 7:47 PM EDT) -- Tuesday's indictment of Liberty Reserve and its founder for running an alleged $6 billion money-laundering scheme revealed the U.S. government's keen interest in exposing the dark side of digital currencies and signaled what steps firms hoping to legitimize that expanding market should take to avoid the government's hammer, experts say.
The action against Liberty Reserve and its founder, Arthur Budovsky, comes as the government increases its scrutiny of the digital currency marketplace, seeking to bring the industry's standards for money-laundering protections up to those that traditional financial institutions are expected to employ.
It also comes as more traditional companies are getting...
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