Two Men Arrested in Bitcoin Money Laundering Scheme

Two South Florida men were arrested what a local prosecutor said may be the first state law charges over the use of Bitcoin virtual currency as part of an alleged money laundering scheme. Pascal Reid, 29, and Michel Abner Espinoza, 30, face two counts of money laundering and one count of engaging in an unlicensed money servicing business, according to court filings in Miami state court. Both men were arrested Feb. 6 and are being held in Miami-Dade County jails.