The money transmitter charge is BS. Selling bitcoins isn't money transmission.
The charge of money laundering for failing to report a transaction over $10000 is going to be harder to beat, but it could be challenged on Fourth or Fifth Amendment grounds. In US v Miller (1976) the Supreme Court held that bank records were not subject to Fourth Amendment protection, but never said that people have to report themselves.
Topic: Florida Targets High-Dollar Bitcoin Exchangers(localbitcoins.com) (Read 916 times)
February 10, 2014, 12:15:32 AM
You forgot the part where it says that they were knowingly selling bitcoins for illegal purposes. That's called money laundering.
Anyway, there are already a dozen threads that discuss this article and they even have links to the court documents. There is no need for another one.
Anyway, there are already a dozen threads that discuss this article and they even have links to the court documents. There is no need for another one.
February 07, 2014, 10:20:05 PM
State authorities in Florida on Thursday announced criminal charges targeting three men who allegedly ran illegal businesses moving large amounts of cash in and out of the Bitcoin virtual currency. Experts say this is likely the first case in which Bitcoin vendors have been prosecuted under state anti-money laundering laws, and that prosecutions like these could shut down one of the last remaining avenues for purchasing Bitcoins anonymously.
http://krebsonsecurity.com/2014/02/florida-targets-high-dollar-bitcoin-exchangers/
http://krebsonsecurity.com/2014/02/florida-targets-high-dollar-bitcoin-exchangers/
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