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Ross Ulbricht’s Attorney Cites IRS Guidance in Motion to Dismiss Charges
“Count Four, which alleges money laundering, is defective because it fails to allege sufficiently an essential element of the offense – that Mr. Ulbricht engaged in, or conspired to engage in, “financial transactions” – as Bitcoin, the alleged “payment system that served to facilitate the illegal commerce conducted on the site,” does not constitute either “funds” or a “monetary instrument, either of which is a necessary component of “financial transaction.”