Man Arrested for Selling Bitcoin Without Asking for ID

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  1. gogolang - Reply

    > He reportedly sold 1.5 million USD worth of bitcoin for almost two years which he made only 40,000 USD in commissions. Ross now has to surrender the sum to the government in addition to the 1.5 years of prison sentence.

    > Ross has confessed to selling 50,000 USD worth of bitcoin to undercover federal agents related to Homeland Security Investigations last October 2017. Similar to previous cases recorded in the US, the system claims that by not conducting exchange like know-your-customer (KYC) procedures and relaying it to the Department of Treasury, Ross was therefore enabling money laundering.

    This isn’t some run of the mill transaction.

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