That's why we have a bounty for article:
- Nxt and its Decentralized P2P exchanges with mixing services = totally untraceable, anonymous and uncontrolled by any government.
The sooner someone writes it the higher chance to get it published as an answer to this event
From the business insider article quoted above:
FAIELLA, 52, of Cape Coral, Florida, and SHREM, 24, of New York, New York, are each charged with one count of conspiracy to commit money laundering, which carries a maximum sentence of 20 years in prison, and one count of operating an unlicensed money transmitting business, which carries a maximum sentence of five years in prison. SHREM is also charged with one count of willful failure to file a suspicious activity report, which carries a maximum sentence of five years in prison.
Notice that each of these charges have nothing to do with drug activity even though it was drug activity that got law enforcement focused on these two guys. In the United States, money flow is tightly regulated. Theoretically anybody in the US who owns a single cryptocoin of any value could be charged with the first two legal charges, and anybody that makes a transaction having a value greater than $10,000 with any cryptocoin can be hit with the third charge.
So far cryptocoin activity in the US is pretty much "under the radar" but as it gets bigger in years to come it is going to be more and more tightly regulated. That includes NXT, and innovations to make it truly anonymous will be seen as a threat.
