Bitcoin exchanges need to grow up fast

Bitcoin exchanges need to grow up fast

The relationship between big banks and their regulators is pretty dubious, to put it mildly. But expecting federal investigators to give Bitcoin exchanges the same free ride is childishly naive. When HSBC got caught laundering money for drug dealers and terrorists, it promised regulators it would improve controls. It didn't. Senate investigators found the bank had failed to monitor $60 trillion in transactions for money laundering and had a backlog of 17,000 dodgy account alerts which it failed to investigate. Which dwarfs LibertyReserve's alleged laundering of $6 billion. HSBC shipped $7....


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