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Charlie Shrem allegedly worked with Robert Faiella, known as BTCKing in the Bitcoin community, to exchange more than $1 million in bitcoins for users to make illegal purchases on Silk Road.
BitInstant CEO Charlie Shrem is sentenced to two years prison time, despite asking to be let off free to "change the world."
Bitcoin isn't to be trusted and Google Glass should be banned, according to people surveyed recently, but at least they've heard of these new technologies.
Ross Ulbricht, who allegedly went by "Dread Pirate Roberts" and operated the black market drug site, is charged with hacking, money laundering, narcotics trafficking, and operating a criminal enterprise.
Following suit with other government bodies, the Committee on Homeland Security asks financial regulators and law enforcement agencies to report on "threats and risks related to virtual currency."
The state's Department of Financial Services issues several subpoenas to companies and people associated with virtual currencies, including Marc Andreessen and the Winklevoss twins.
In an effort to boost the presence and tradability of the digital currency, the twins who accused Mark Zuckerberg of stealing the idea for Facebook file for a "Winklevoss Bitcoin Trust."
Cameron and Tyler Winklevoss, who parlayed Facebook cash into a multimillion dollar Bitcoin stake, say making money means working with the Feds. Meanwhile, the Bitcoin Foundation is about to hire its first D.C. lobbyist.
BitInstant is close to introducing an international credit/debit card based on the peer-to-peer currency, according to an alleged interview with the exchange service's co-founder.