The whole world already knows about the Liberty Reserve case. But, as we dig deeper, we can see how big the illegalities are. Besides the money laundering suspicions, the platform is also thought to have been involved in the $45 million ATM heist for which eight people were arrested in May.
That being said, what do the law representatives think about this case? And what about the Bitcoin defenders? Let’s take a look.
For one side, Chicago-based investment fraud attorney Andrew Stoltmann says that Bitcoin holders should be spooked by what happened with Liberty Reserved.
His opinion is based on a simple idea: if this exchange platform was used to launder money, why can’t the others be used to do that as well? He makes a point, but there’s a very different opinion on the other side.
We’re talking about Peter Vessenes. The chairman and executive director of the Bitcoin Foundation assures he was stolid when he knew about Liberty Reserve alleged crimes. “The USA put out guidance recently through the Financial Crimes Enforcement Network, and we’ve been following up on that guidance and crushing bad actors“, he said in an interview with CNBC Asia.
Peter Vessenes admits that we’re “seeing a bit of a sweep right now”, but “there’s nothing to indicate that good players who are working hard to stay regulated have anything to worry about”.
The Liberty Reserve case might have provoked some damages, but nothing major. Actually, cryptocurrency has been behaving pretty well through these hard times. Signs of evolution?