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Bitcoin in government crosshairs

In a Sept. 27 affidavit for Ulbricht's arrest, FBI special agent Christopher Tarbell wrote that Silk Road's use of Bitcoin and "tumblers," which route each purchase through a maze of dummy transactions, amounted to money laundering and that the "only function" of tumblers was to "launder criminal proceeds." The Electronic Frontier Foundation (EFF), an advocate for Internet freedom, has called such a stance "incredibly dangerous" for personal privacy.

"It's essential that the use of encryption, anonymization techniques and other privacy practices is not deemed a suspicious activity," EFF activist Parker Higgins wrote.

Tuesday, November 19, 2013
Al Jazeera

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