24-Year-Old Jailed for Selling Bitcoin Without Asking for ID

21 comments

  1. bitroll - Reply

    Disgusting. He provided very valuable service to the decentralization of Bitcoin trade. At this volume must have been a reputable trader, we can never have enough of those.

  2. adolfaberHitler - Reply

    this guy bought $1.5 million and bought/sold it to cash for customers for a commission. Thats clearly a business and cant be done illegal.

    Its a total different story if he just sold his own private coins he owned.. but he did it for the comission

  3. gurilagarden - Reply

    ITT: People that think money laundering is stuffing cash in a washing machine. The same people that will probably be hit with hefty fines or jail time for not accurately paying their taxes or selling financial instruments without a licence. Ignorance of the law is a poor defense while you wait for your libertarian utopia to emerge.

  4. shrekopher - Reply

    It’s called tax evasion it’s against the law. If he had the proper license and paid taxes it would not have mattered. Also they were just looking to add a year onto his drug dealing sentence and take away his drug money.

  5. marktin1 - Reply

    Lol why does his age matter?

    Are young people incapable of knowing the laws, or are they incapable of money laundering? I don’t get the implication

  6. Marcion_Sinope - Reply

    There are over 10,000 federal laws plus bucketfuls of state, local and administrative laws.

    You must know every single one of them because “ignorance of the law is no excuse.” My answer to that is go fuck yourself.

    The Founding Fathers *never intended* for government to be this massive, bloated, over-reaching, intrusive and omnipresent. It’s why they left England in the first place.

    It will change or we will opt out.

  7. GRMA - Reply

    They’re saying he enabled money laundering, but they didn’t even prove any money laundering actually took place.

  8. darkstarman - Reply

    > the 24-year old was already in prison for drug offenses

    These people arrested are just using the naive public to come to their defense, waste their time reading this article, they always end up having done something in addition to bitcoin. Never **just** bitcoin.

  9. eqleriq - Reply

    No, he was jailed for running an illegal MSB and not paying taxes on them

    > He has been convicted for conducting an unlicensed money transmitting business between January 2015 and November 2016 and failing to report the fiat to bitcoin transactions.

    … NOT ONLY THAT, but during the sting he didn’t even get ID, which meant not only was he operating an illegal MSB and not paying taxes, he was also further facilitating laundering.

    > Interestingly, the 24-year old was already in prison for drug offenses

    Weird, so someone “buys and sells $1.5million” worth of bitcoin for only $40k profit” and that doesn’t sound like laundering your weed sales money? How weird. No guys I think this is a poor victim of a ruthless system!

    #FUCK THESE SHITPOSTS

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