An Australian man has been arrested for trying to launder money through the use of cryptocurrencies namely Bitcoin. According to the article that was published on coindesk, this man allegedly converted a large portion of money laundering to the Digital currencies such as Bitcoin. It is believed that the money that he had on him and other drugs and narcotics was trying to be converted to cryptocurrency in order to store its value and so that it cannot be traced. The man is currently awaiting his trial date. In my opinion it is news such as this that provides cryptocurrency with a bad name.