Both of the men are being charged under two laws. The first is Florida’s anti-money laundering law, which targets money exchanges above $10,000. The second is running an unlicensed money transmission business. Statute 560.125 forbids people from exgaging in frequent unlicensed money transmission-type transactions of more than $300 but less than $20,000 in any 12-month period in the state.
IMHO, now that the IRS has officially announced bitcoin is a commodity (property) then I think the unlicensed money transmission business will no longer fly.
Theoretically speaking, yes, but I am not so sure if it is really 100% safe. Anyway, I am not in Florida.
Both of the men are being charged under two laws. The first is Florida’s anti-money laundering law, which targets money exchanges above $10,000. The second is running an unlicensed money transmission business. Statute 560.125 forbids people from exgaging in frequent unlicensed money transmission-type transactions of more than $300 but less than $20,000 in any 12-month period in the state.
Guys is it responsible to give a loan to newbies? I mean, it is so darn easy to just run away with the bitcoin.
IMHO no, it is never a good idea to lend bitcoin to new users without collateral. Not only you will likely get some loss, your action will encourage others to make new accounts for getting loans.