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> This person is suspected of selling Bitcoin for cash. There must be more to it than that; buying and selling Bitcoin isn't illegal.
by politician 3y ago
> This person is suspected of selling Bitcoin for cash.
There must be more to it than that; buying and selling Bitcoin isn't illegal.
- balls187 3y agoPer the GP—this is likely about someone laundering money for terrorist organizations that the US is investigating.
- palmfacehn 3y agoThe year is 2024. Everyone who disagrees with my political views is a confirmed national security threat and a terrorist. I hope they throw the book at these bitcoin boys.
- roenxi 3y agoWell, in the US in general it might be. The police are saying that it is probably a crime under money laundering and unlicensed money transmitting laws. The issue is that particular set of laws are mostly outrageous and quite unintuitive in practice. They criminalise a lot of quite reasonable activity - in this case, like selling bitcoin for cash. Although the thread root refutation makes no sense. Freely trading bitcoin leading to 9-11 is going to have to involve some flexible mental gymnastics since 9-11 happened in a pre-Bitcoin world. In practice AML style laws are generally targeting tax evasion.
- politician 3y agoPerhaps the police are trying to find a way to apply asset forfeiture because Bitcoin is so valuable? That would make more sense than AML because police forces don’t generally investigate those crimes — enforcement is usually the domain of FinCen and banks.