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Ex-Bitcoin Foundation Vice Chairman Shrem Denies Charges

Charlie Shrem, the former Bitcoin Foundation Inc. vice chairman, denied charges that he tried to launder more than $1 million in the virtual currency in a case tied to the illicit online bazaar Silk Road.

Shrem, 24, and Robert Faiella, 52, both pleaded not guilty today at a hearing in Manhattan federal court. The two, who entered their pleas through their lawyers, are accused of scheming to sell Bitcoins to Silk Road users to buy illegal drugs.