Although money laundering is not new, the use of digital currencies to launder money is. Virtual currencies like Bitcoins, Litecoins, Liberty Reserve, Perfect Money, and WebMoney, just to name a few, have grown in popularity over the last four years.1 None of these digital currencies has been more popular than Bitcoin. Bitcoin is a digital currency in which transactions can be completed without the need for a central bank. In a very short period of time, Bitcoin has moved from a niche currency into what some believe will soon be a mainstream currency.2 The rapid proliferation of the currency has raised concerns among regulated businesses and the government alike that fear the insidious and socially destructive nature of money laundering