The looming digital currency crackdown

Buyers beware: regulators are tightening the screws on virtual currencies. After the Liberty Reserve debacle, currencies like BitCoin may be one scandal away from a full-blown crackdown.

These are unsettling times for digital currency businesses and the venture capitalists backing them.

On Tuesday, the authorities in Spain, Costa Rica and New York arrested five people at the digital currency firm Liberty Reserve, including its founder Arthur Budovsky, and seized related bank accounts and Internet domains.

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