Inside Bitcoin’s First Big Money-Laundering Scandal

Great reporting by Adrianne Jeffries and Russell Brandom for The Verge:

A week ago, 24-year-old Charlie Shrem landed at JFK, home from giving a talk about the virtual currency Bitcoin at an e-commerce convention in Amsterdam.

The trip had gone well. Shrem’s speech made the front page of the Dutch Financial Times, his Icelandair flight had internet, and he was excited to be reunited with his girlfriend, Courtney. He did not expect to be arrested when he got off the plane. But as soon as he saw the agents from the Drug Enforcement Administration and IRS waiting for him at the gate, he knew.

Whatever the trouble was, it must have something to do with Bitcoin.

★ Tuesday, 4 February 2014