New York : Two Bitcoin executives have been charged in the US with conspiring to commit money laundering by selling more than $1 million of the digital currency to users of an illicit online drugs bazaar ‘Silk Road’. India-born US Attorney Preet Bharara brought the criminal charges in Manhattan federal court against underground Bitcoin exchanger Robert Faiella, 52, and Chief Executive Officer and Compliance Officer of a Bitcoin exchange company Charlie Shrem, 24.

The two have been charged with conspiring to commit money laundering, and operating an unlicensed money transmitting business. “Truly innovative business models don’t need to resort to old-fashioned law-breaking, and when Bitcoins, like any traditional currency, are laundered and used to fuel criminal activity, law enforcement has no choice but to act,” Bharara said.

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