Bitcoin Foundation’s Shrem Charged in Silk Road Drug Case …
Two men tied to the illicit online market Silk Road, including Bitcoin Foundation Vice Chairman Charlie Shrem, were charged by U.S. Attorney Preet Bharara today in a complaint filed in Manhattan federal court. The vice chairman of the Bitcoin Foundation was charged by federal prosecutors with conspiring to launder more than $1 million in the virtual currency, the latest in a series of charges and forfeitures tied to the illicit online bazaar Silk Road. – Bloomberg
Dominant Social Theme: These people are criminals and it is good to catch them.
Free-Market Analysis: As what we call the Internet Reformation expands in terms of its impact, the rationale for many kinds of Western law enforcement diminishes.
This bitcoin arrest is a case in point. Charlie Shrem was arrested for facilitating the sale of drugs but there is no evidence we know of that drug use – of any kind – is so disruptive to society that it ought to banned.
A case in point is marijuana, which has been banned throughout most of the West for perhaps a half-century or more. Now marijuana is beginning to be decriminalized or even legalized.