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by hexonexxon 4763 days ago
This is why Satoshi took careful measures to ensure he stayed anonymous. If he was still around he would be in jail right beside this guy. LR actually did a lot of KYC compliance problem is they allowed Americans to use the system which means inevitable indictment. Cgold is probably next if the operators are stupid enough to travel to a country with extradition.

There will also be a mass bitcoin arrest eventually to crack down on everybody operating without an MSB, like extraditing Euro exchange operators who do biz with Americans. Because of decentralization Bitcoin will survive any crackdown

1 comments

Satoshi created Bitcoin, but did/does not operate a Bitcoin exchange, so far as we know. This prosecution is centered around LibertyReserve being a money transmitting business without registering/following guidelines (e.g. know your customer, etc).
LR does not operate an exchange either, though I suspect exchangezone was run by them. Lr contracted that out much like how bitcoin (and soon ripple) have gateways into the system to buy in.