Bitcoin promoter Charlie Shrem sentenced to 2 years of jail in Silk Road case

The former Bitcoin Foundation Inc. executive Charlie Shrem has been sentenced to two years in prison over charges of money laundering through online drug bazaar Silk Road.

According to CNET, Shrem pleaded guilty to one count of aiding and abetting an unlicensed money transmission in September.

After striking this plea deal with the government, Shrem faced up to six years in prison. However, U.S. District Judge Jed Rakoff decided two years would be sufficient.

Shrem requested the Judge to let him off without any prison time so he could show the world that he had learned his mistake.

He also said in the request that there was no money laundering going on any longer.

Shrem, along with another bitcoin figure, Robert Faiella, was arrested in New York in January in a crackdown by the U.S. Attorney's office, the Drug Enforcement Administration and the Internal Revenue Service.