forbes.com - Bitcoin + MasterCard: 'Everywhere You Shouldn't Be?'
Abe Garver, Contributor
"Bitcoins may become ubiquitous, their value could appreciate, and those trading in the black market may have a new way to launder money."
"Who better to pose the potential money laundering question to than BitInstant’s, CEO, Charlie ‘Charles’ Shrem? Here is his response.
“While it is true that a Bitcoin-based debit card may enable illicit Bitcoin funds to be more easily spent, it is similarly true that a USD-based debit card may enable illicit USD funds to be more easily spent. "
"An immigrant routinely sending money to his mother back home can now do so without paying excessive fees to Western Union, for example. Similarly, the speed of the transfers mean a father, using his smartphone Bitcoin app, could transfer $500 to his son in college for textbooks and the son would have the money in less than a minute. No waiting in lines at the bank. No three-day wire transfer delays. "
http://www.forbes.com/sites/abegarver/2012/08/24/bitcoin-mastercard-everywhere-you-shouldnt-be/
