News

Acceptance of Digital Currency for Property May Circumvent AML Dragnet

By Valentina Pasquali

Early last month, a 1-bedroom penthouse with “high ceilings … euro-style kitchen … & impact windows” overlooking the Miami skyline and Biscayne Bay was advertised for sale on Redfin for 33 bitcoins, the equivalent at the time of nearly $550,000. The real estate deal may be the first that exclusively required settlement in digital currency, though sellers of at least 75 other recent properties, mostly in South Florida and California, offered to accept Bitcoin as payment in lieu of cash or credit, a spokesperson for the property website told CNBC. While there is no indication that the sale of the...

TO READ THE FULL STORY