News

The U.S. Justice Department will begin this year refunding customers of a defunct digital currency company that paid nearly $3.3 million to settle sanctions and anti-money laundering violations. Funds held by Gold & Silver Reserve, Inc., which operated Internet currency site e-Gold, could be returned to tens of thousands of former customers after the business monetized its metal reserves and distributed the funds to the United States government, said Carol Van Cleef, an attorney with Washington, D.C.-based Patton Boggs who represents the company. The Melbourne, FL-based digital currency firm agreed to the refund as part of a June 2011 voluntary...