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Facing Federal Charges? You need the highest level of defense on your side. Learn what crimes are considered as white collar. In the News

Bitcoins & Money Laundering Charges

Miami Federal Crime Attorney Advocating for You

Over the past few years, a new form of virtual currency has emerged—Bitcoins. With this form of currency, encrypted transactions are verified and processed using a public ledger on the Internet. This form of payment has allowed individuals to perform anonymous transactions using a system that is not governed by a central issuing authority. Is this a crime? Bitcoins themselves are not illegal. However, federal and state authorities are starting to press charges against individuals who are accused of using Bitcoins as a money laundering tool. Here are a couple examples of recent cases in which such charges were filed:

Silk Road Case:

  • In this case, federal prosecutors in New York arrested a man who was suspected of running the Silk Road website, which allowed for the buying and selling of drugs with Bitcoins, according to Bloomberg. Money laundering conspiracy was one of the crimes the man was charged with. Furthermore, the former vice chairman of the Bitcoin Foundation was also charged with conspiring to launder money connected to Silk Road.

First Florida Bitcoins/Money Laundering Case:

  • In February 2014, two men were arrested in Florida for allegedly conducting cash-to-Bitcoins exchanges for individuals (undercover officers) who said the Bitcoins would be used for buying stolen credit card information. It is believed that this was Florida's first case in which state charges were filed for money laundering allegedly stemming from Bitcoins.

Aggressive Defense Against Your Money Laundering Charges

It is clear from the cases noted above that law enforcement and prosecutors in Florida and elsewhere are cracking down on illegal activity that involves Bitcoins. When federal charges are filed, the possible repercussions can become even more serious. If you are facing federal money laundering charges for the use of Bitcoins, make sure you act quickly and get a skilled attorney on your side.

Our Miami federal crime lawyer at Seltzer Mayberg, LLC can help you form a strong defense strategy so that your rights can be fully protected. We are able to handle Bitcoin-related cases from anywhere within the state of Florida. At our firm, we can offer you a free case evaluation when you are working with us for the first time. Contact Seltzer Mayberg, LLC so our skilled attorney can begin assisting you with your defense!

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