Not long ago we reported that some BitCoin companies were subpoenaed by the New York State Department of Financial Services. However, we now found out that the U.S. government went after BitCoin a few months earlier in May when it seized more than five million dollars from Mt. Gox, the largest BitCoin company in the industry.
Federal agents reportedly seized $2.1 million from the company’s account with Dwolla, $2.9 million from their Wells Fargo account, and $50,000 from CEO Mark Karpeles’s personal account. The money was taken after a judge ruled there was probable cause that Mt. Gox transmitted money without a license.
It’s not much money, considering Mt. Gox was at one time making $6 million a day in trades. Although the seizure sets a precedent against BitCoin in the US that lets BitCoin companies know they better have the right paperwork in order to deal within the States, and hit Mt. Gox hard enough to make them stop all US-based withdrawals in June.
Honestly, I’m not sure what to think about BitCoin at the moment. However I think legal action against in this way legitimizes it as an actual form of currency.
I’m going to leave it up to you guys. Is BitCoin really the currency of the future?
Source – The Verge
$5 Million Seized From BitCoin Company Mt. Gox
Not long ago we reported that some BitCoin companies were subpoenaed by the New York State Department of Financial Services. However, we now found out that the U.S. government went after BitCoin a few months earlier in May when it seized more than five million dollars from Mt. Gox, the largest BitCoin company in the industry.
Federal agents reportedly seized $2.1 million from the company’s account with Dwolla, $2.9 million from their Wells Fargo account, and $50,000 from CEO Mark Karpeles’s personal account. The money was taken after a judge ruled there was probable cause that Mt. Gox transmitted money without a license.
It’s not much money, considering Mt. Gox was at one time making $6 million a day in trades. Although the seizure sets a precedent against BitCoin in the US that lets BitCoin companies know they better have the right paperwork in order to deal within the States, and hit Mt. Gox hard enough to make them stop all US-based withdrawals in June.
Honestly, I’m not sure what to think about BitCoin at the moment. However I think legal action against in this way legitimizes it as an actual form of currency.
I’m going to leave it up to you guys. Is BitCoin really the currency of the future?
Source – The Verge – http://www.theverge.com/2013/8/23/4651926/us-government-seized-5-million-from-bitcoin-behemoth-mt-gox
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