Good. At least the authority wants to know what bitcoin is, rather than blatantly charging anyone dealing with it.
It seems they are interested in both.
If he's smart, he'll sell them bitcoins at the end of each training session.
Topic: Judge Orders LocalBitcoins User to Teach Police on Digital Currency (Read 687 times)
September 16, 2015, 08:30:08 PM
It seems they are interested in both.
If he's smart, he'll sell them bitcoins at the end of each training session.
September 16, 2015, 08:17:12 PM
Relatively good news. Any honourable party would pay to be taught. The state, in contrast, is threatening Mr. Reid to obtain his services for free (in fact are changing him $500 to cover their costs).
This is seen as good news only because we concede that violence is the only thing the police understand. This is the best outcome one could hope for.
This is seen as good news only because we concede that violence is the only thing the police understand. This is the best outcome one could hope for.
September 16, 2015, 06:26:29 PM
Nice That's really good news hopefully they will also see the potentials of bitcoin as we do.
September 16, 2015, 05:10:35 PM
He should surreptitiously make a note of all the law enforcement private keys and be in the room with them when they mysteriously disappear. 'Looks like I need to teach you crazy cops a bit more.'
September 16, 2015, 05:10:00 PM
Sounds like a pretty good deal to me. I would guess that that guy likes Bitcoin and is probably happy with exposing more people to it and helping them learn about.
Yes, it's a good deal to stay out of the prison. But for Bitcoin, this is not such a good deal. It's not like he will be teaching masses how to use Bitcoin. Instead, he will be teaching the law enforcement how to nail the people that are using Bitcoin.
Another wierd story coming from the states. I cannot believe that they are charging people who sell couple of coins on localbitcoins while in the other side their banksters are doing whatever they want, stealing from people and getting help and bail outs!
Anti Money Laundering laws are a bitch. September 16, 2015, 05:07:03 PM
Although it seems like a pretty good deal (and deal is a keyword, if I remember BurtW's words correctly), it was probably best if he didn't plead guilty. Although this also probably depends on the lawyer that one has, of course.
Seeing this through a more positive view, I hope this serves to raise awareness about Bitcoin inside justice departments and that further cases of Bitcoin trading are seen differently (and I also hope FinCEN distinguishes business from Bitcoin trading, or distinguishes a minimum value to be a business)
Seeing this through a more positive view, I hope this serves to raise awareness about Bitcoin inside justice departments and that further cases of Bitcoin trading are seen differently (and I also hope FinCEN distinguishes business from Bitcoin trading, or distinguishes a minimum value to be a business)
September 16, 2015, 05:06:17 PM
Sounds like a pretty good deal to me. I would guess that that guy likes Bitcoin and is probably happy with exposing more people to it and helping them learn about.
Yes, it's a good deal to stay out of the prison. But for Bitcoin, this is not such a good deal. It's not like he will be teaching masses how to use Bitcoin. Instead, he will be teaching the law enforcement how to nail the people that are using Bitcoin.
Another wierd story coming from the states. I cannot believe that they are charging people who sell couple of coins on localbitcoins while in the other side their banksters are doing whatever they want, stealing from people and getting help and bail outs!
September 16, 2015, 04:18:02 PM
"Teach me to Bitcoin now!"
September 16, 2015, 03:56:45 PM
Sounds like a pretty good deal to me. I would guess that that guy likes Bitcoin and is probably happy with exposing more people to it and helping them learn about.
September 16, 2015, 03:44:40 PM
Good. At least the authority wants to know what bitcoin is, rather than blatantly charging anyone dealing with it.
September 16, 2015, 03:33:54 PM
A judge has sentenced Florida LocalBitcoins user Pascal Reid to serves 90 days in jail in a ruling that closes a high-profile legal case dating back to February 2014.
Originally charged with operating an unauthorized money transmission business and with money laundering, Reid plead guilty to a single count of operating as an unlicensed money transmitter. Reid will receive five years probation and must provide informational assistance to law enforcement and financial entities about bitcoin and digital currencies.
As part of the deal, Reid has been tasked with completing "no less than 20 trainings" on digital currency and cybercrime, to be organized by Detective Ricardo Arias of the City of Miami Beach Police Department.
Reid is also required to make himself available to the Miami Beach Police Department, the US Secret Service and the Miami Electronic Crimes Task Force as needed for the development of the sessions.
Attorney Ron Lowy, of Miami-based law firm Lowy and Cook PA, told CoinDesk that he and his client are "very pleased with the outcome".
Lowy told CoinDesk:
More info and full article here : http://www.coindesk.com/judge-orders-localbitcoins-user-to-educate-police-on-digital-currency/
Originally charged with operating an unauthorized money transmission business and with money laundering, Reid plead guilty to a single count of operating as an unlicensed money transmitter. Reid will receive five years probation and must provide informational assistance to law enforcement and financial entities about bitcoin and digital currencies.
As part of the deal, Reid has been tasked with completing "no less than 20 trainings" on digital currency and cybercrime, to be organized by Detective Ricardo Arias of the City of Miami Beach Police Department.
Reid is also required to make himself available to the Miami Beach Police Department, the US Secret Service and the Miami Electronic Crimes Task Force as needed for the development of the sessions.
Attorney Ron Lowy, of Miami-based law firm Lowy and Cook PA, told CoinDesk that he and his client are "very pleased with the outcome".
Lowy told CoinDesk:
Quote
"Pascal [Reid] was facing years in prison. But, I think the government has come to the conclusion that Pascal never intended to do anything dishonest."
More info and full article here : http://www.coindesk.com/judge-orders-localbitcoins-user-to-educate-police-on-digital-currency/
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