Bitcoin Promoter Charlie Shrem from BitInstant.com AdmitsUunlicensed Money Transfer

Charlie Shrem, the operator of an exchange for the virtual currency Bitcoin has pleaded guilty to running an unlicensed money transmitting business. Shrem, 24, pleaded guilty at a hearing in New York federal court to one count of aiding and abetting an unlicensed money transmitting business. A co-conspirator, Robert Faiella, pleaded guilty to a similar charge, and both men face up to five years in prison when they appear again in court in January.