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Bitcoin exchange Mt. Gox requires account verification after Liberty Reserve shutdown |
May 31, 2013
Mt. Gox is requiring all users to verify their accounts in order to make non-bitcoin currency deposits and withdrawals, less than a week after U.S. authorities said they shut down online payment processor Liberty Reserve for alleged money laundering.The world's largest bitcoin exchange instituted the new requirement on Thursday. Deposits and withdrawals using the bitcoin virtual currency, however, will not require account verification, the company said in a brief statement.The Tokyo-based bitcoin exchange made the policy change to comply with "strict anti-money laundering rules" and to prevent "other malicious activity." Mt. Gox could not be immediately reached for further comment, but the move comes two days after the U.S. Department of Justice announced it indicted Liberty Reserve for laundering US$6 billion.Liberty Reserve, incorporated in Costa Rica in 2006, worked by charging a small fee to help users send and receive payments anywhere in the world. Transfers were made through its own virtual currency, which could be converted into real dollars using pre-approved exchangers.To read this article in full or to leave a comment, please click here
Link: http://www.pcworld.com/article/2040400/bitcoin-exchange-mt-gox-requires-account-verification-after-liberty-reserve-shutdown.html#tk.rss_all
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