Bitcoin Foundation distances itself from indicted board member


(Photo by btckeychain)

The Bitcoin Foundation has accepted the resignation of Charlie Shrem, the Bitcoin entrepreneur who was charged Monday with violating money laundering laws. Shrem, founder of the Bitcoin startup BitInstant, is accused of facilitating illegal drug transactions on the underground market Silk Road.

"As a foundation, we need to remain focused on our core mission to standardize, protect, and promote the Bitcoin core protocol," Bitcoin executive director Jon Matonis said in a foundation news release. "While Charlie has contributed a great deal of personal effort and resources to enhance the adoption of Bitcoin worldwide, a prolonged legal dispute would inevitably detract from advancing that core mission."

Matonis said Shrem's departure from the board was "mutual." He also emphasized that the government's charges focused on Shrem as an individual, and not the broader Bitcoin community.

business/technology

the-switch

Success! Check your inbox for details. You might also like:

Please enter a valid email address

See all newsletters

Comments
Show Comments
Most Read Business

business/technology

the-switch

Success! Check your inbox for details.

See all newsletters

Next Story
Brian Fung · January 28, 2014

To keep reading, please enter your email address.

You’ll also receive from The Washington Post:
  • A free 6-week digital subscription
  • Our daily newsletter in your inbox

Please enter a valid email address

I have read and agree to the Terms of Service and Privacy Policy.

Please indicate agreement.

Thank you.

Check your inbox. We’ve sent an email explaining how to set up an account and activate your free digital subscription.