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Topic: Miami arresting people for use of Bitcoin - page 4. (Read 5839 times)

hero member
Activity: 588
Merit: 501
February 10, 2014, 09:14:00 PM
#14
The report is a lot more clear than the newspaper article.  It seems fairly clear that the seller really didn't have problems engaging in illegal activity.  The fact that he said that he would think about selling the stolen credit cards for BTC makes his case even worse.

That's not to say that the police weren't participating in entrapment, but perhaps there was other evidence not listed in this report that made them think that they were already involved in illegal activity.

It is clear that way more people know about Bitcoin now than a year ago, and you can't really get away with the sorts of things that you might have been able to get away with in the past.


firstly you should be reminded that the report is unilateral

but it should be fairly, if not reasonably, obvious that the "I'll think about it" was merely a brush off.  

hero member
Activity: 784
Merit: 501
February 10, 2014, 09:08:17 PM
#13
Nevertheless, it is clearly wise to back out of a trade when they say something that doesn't sound right, if you can.  Until we know the details of this case, though, we don't even know if backing out was an option.  Quite often they'll throw that in after the transaction is initiated.  

What would happen if the undercover agent showed a gun when their mark tries to back out or makes a threat and that results in them accepting the deal. Would they still be convicted?
full member
Activity: 144
Merit: 100
February 10, 2014, 09:06:49 PM
#12
The report is a lot more clear than the newspaper article.  It seems fairly clear that the seller really didn't have problems engaging in illegal activity.  The fact that he said that he would think about selling the stolen credit cards for BTC makes his case even worse.

That's not to say that the police weren't participating in entrapment, but perhaps there was other evidence not listed in this report that made them think that they were already involved in illegal activity.

It is clear that way more people know about Bitcoin now than a year ago, and you can't really get away with the sorts of things that you might have been able to get away with in the past.
legendary
Activity: 2506
Merit: 1030
Twitter @realmicroguy
February 10, 2014, 08:51:54 PM
#11
Did Miami just starting to arrest people over Bitcoin?

Only if they're operating businesses without the required license or conspiring to launder money for bad guys.

legendary
Activity: 3038
Merit: 1032
RIP Mommy
February 10, 2014, 08:42:31 PM
#10
When every victimless action is made a "crime", anyone can be prosecuted for "money laundering".
sr. member
Activity: 504
Merit: 250
Earn with impressio.io
February 10, 2014, 10:05:21 AM
#9
No, they arrested people for money laundering and finCEN violations.


No, they arrested people for buying and selling bitcoins, and are calling it money laundering. 

Wrong. Those persons involved wanted/tried to use bitcoins for money laundering.
Wrong.  Those persons involved sold bitcoin to undercover officers who told them they are going to commit crimes with bitcoin and the people still sold it to them.  That and selling too many bitcoins means having to register as an MSB.

He's only being charged with the latter.  The former is just to bias it.  I call that entrapment anyway.  He traveled to the location and was ready to exchange before they claimed how they were going to spend it.  In any case, it's not clear that exchanging a currency with someone expressing an illegal intent to use said currency is illegal.  What would of been a clear case of money laundering would of been the undercover claiming that it was drug profits they were trying to wash.  Now, that is far different than just saying how you think you might spend something. 

Nevertheless, it is clearly wise to back out of a trade when they say something that doesn't sound right, if you can.  Until we know the details of this case, though, we don't even know if backing out was an option.  Quite often they'll throw that in after the transaction is initiated. 

When the case is closed, someone should interview the accused. 
newbie
Activity: 28
Merit: 0
February 09, 2014, 06:21:49 PM
#8
Glad to see that illegal money operations are seized and the guys behind are being prosecuted. If Bitcoin should have a chance growing up, we need to stop those youngsters that think they can get away with transactions in Bitcoin that are not allowed in fiat-money.
legendary
Activity: 2674
Merit: 3000
Terminated.
February 09, 2014, 06:13:57 PM
#7
Wrong.  Those persons involved sold bitcoin to undercover officers who told them they are going to commit crimes with bitcoin and the people still sold it to them.  That and selling too many bitcoins means having to register as an MSB.
Wrong. I'm not in a country where such thing is necessary.
legendary
Activity: 1806
Merit: 1521
February 09, 2014, 06:08:45 PM
#6
No, they arrested people for money laundering and finCEN violations.


No, they arrested people for buying and selling bitcoins, and are calling it money laundering. 

Wrong. Those persons involved wanted/tried to use bitcoins for money laundering.
Wrong.  Those persons involved sold bitcoin to undercover officers who told them they are going to commit crimes with bitcoin and the people still sold it to them.  That and selling too many bitcoins means having to register as an MSB.

So this is a good thing, right?  Bitcoins are considered a financial tool where people must registered as a MSB if the volume is too high and must comply to AML regulations?
legendary
Activity: 896
Merit: 1006
First 100% Liquid Stablecoin Backed by Gold
February 09, 2014, 05:50:19 PM
#5
No, they arrested people for money laundering and finCEN violations.


No, they arrested people for buying and selling bitcoins, and are calling it money laundering. 

Wrong. Those persons involved wanted/tried to use bitcoins for money laundering.
Wrong.  Those persons involved sold bitcoin to undercover officers who told them they are going to commit crimes with bitcoin and the people still sold it to them.  That and selling too many bitcoins means having to register as an MSB.
legendary
Activity: 2674
Merit: 3000
Terminated.
February 09, 2014, 05:47:23 PM
#4
No, they arrested people for money laundering and finCEN violations.


No, they arrested people for buying and selling bitcoins, and are calling it money laundering. 

Wrong. Those persons involved wanted/tried to use bitcoins for money laundering.
sr. member
Activity: 504
Merit: 250
Earn with impressio.io
February 09, 2014, 05:45:07 PM
#3
No, they arrested people for money laundering and finCEN violations.


No, they arrested people for buying and selling bitcoins, and are calling it money laundering. 
hero member
Activity: 546
Merit: 500
February 09, 2014, 05:28:16 PM
#2
No, they arrested people for money laundering and finCEN violations.
sr. member
Activity: 476
Merit: 250
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