Question

In the Dread Pirate Roberts case, U.S. Ulbricht, 31 F. Supp. 3D 54D (S.D.N.Y. 2014), one of the issues that the court addressed was whether bitcoin is currency for purposes of the money laundering statutes. In this case, the court Ruled that someone can violate the money laundering statute by using bitcoin.

A) True
B) False

Answer 1

The answer is A) True. Someone can violate the money laundering statute by using bitcoin.

Step-by-step explanation:

On July 9, 2014, United States District Court, S.D. New York charged Ross Ulbricht on four counts. The Count Four is a money laundering conspiracy. Ross used bitcoins as a medium of exchange for narcotics trafficking. It made an important precedent in the US legal system on bitcoins.