Illegal mass adoption

[cabron]

Reminds me about the thread of a guy caught mining Bitcoin secretly at his place of work.

There are many stories like that. People were mining in data centers, power plants, even nuclear institutes.

Not a very common story when the guy is a police officer.

There wouldn't really have confiscation and jailing if he just acquire some business permit for his ATMs to operate. He has the money to pay for it so he can do it legally but he just really can't deny that he has no plans of doing it that authorities has to stop him.

[ufaiz50]

The mistake lies in illegal actions, from not having a permit, and at the same time helping with laundering in the absence of KYC. If he operated correctly in entrepreneurship and of course making the permit would be fine. It can't be helped, it's already the law in force in the country concerned. This made me interested in how the ATM works.

[freedomgo]

The mistake lies in illegal actions, from not having a permit, and at the same time helping with laundering in the absence of KYC. If he operated correctly in entrepreneurship and of course making the permit would be fine. It can't be helped, it's already the law in force in the country concerned. This made me interested in how the ATM works.

That's why OP called it illegal mass adoption, lol..

The operation was illegal, that's the reason why the owner was arrested, maybe he doesn't know about the negative effect of the operation, just thinking of the positive things which is adoption and the profit as well. But he has surely now awaken and learn from his mistake as this world, ignorance of the law is not an excuse, but hopefully he will get convicted, he won't be persecuted for that long.

[jpnl0006]

To the point where he did not acquire required licenses for projects that concerned finance that is run by financial agencies, and regulatory bodies, on that and those accounts i can say 'he is giulty' but for operating bitcoin kind of transaction, i will not say he is guilty as there is nothing as illegal in mass adoption except the goverment has a ban on the technlgy

[spike420211]

An amazing story. America is truly a land of opportunity. If he thought of this, I'm sure someone else is doing the same.

I wonder what the real number of illegal bitcoin ATMs in America is, and where it come from. It have to be produced somewhere and the system adjusted, or they buy it on the gray market.

[rexxarofmoknathal]

An amazing story. America is truly a land of opportunity. If he thought of this, I'm sure someone else is doing the same.

I wonder what the real number of illegal bitcoin ATMs in America is, and where it come from. It have to be produced somewhere and the system adjusted, or they buy it on the gray market.

I agree with you that it shows the types of opportunities there are and that can be created where there's potential, though this is not a prime example. This would have been a great business had the person dealt with the regulations diligently. The fact that there was no licence in place makes me wonder whether the malls were part of this entire operation.

As for the guy, there's no way he wasn't aware of the wrongdoing. However, I'm not so sure if prison would be an appropriate choice - I hope not, or at least not for a long time. As I believe nobody deserves to be thrown in prison and be forgotten when in the end we only have one precious life to live.

[erikoy]

As for the guy, there's no way he wasn't aware of the wrongdoing. However, I'm not so sure if prison would be an appropriate choice - I hope not, or at least not for a long time. As I believe nobody deserves to be thrown in prison and be forgotten when in the end we only have one precious life to live.

Parents should be held liable also for not guiding the right way of their children. This one is an example so if there is any problem with him it start with his parents. Though this kid is not yet in legal age but in due time when he had reach the legal then he will going to face the consequences he has been doing. Wether we like it or not no one is above the law and ignorance of the law is not an exuse. So, for tha kid he may had a brighter future ahead but unfortunately it is not now after facing this problem. Prisonment is one of the real struggle one can have.

[Harlot]

You know how easily can this be avoided? The government/authorities should require Bitcoin ATM/Kiosk manufacturers to make licenses a requirement for their buyers before they can buy one of their products. Obtaining a license first before you buy one is the easiest way to avoid this kind of legal trouble especially for unknowing businessmen who always go in and don't study and plan everything. If they at least require the manufacturers to do this at least they have some kind of 1st level protection for things happening such as this one.

[Kelvinid]

It was their fault also that brought this into a worst-case scenario. If they secured their license first before they start, absolutely there is no problem with that but somehow, they just ignore it. Authorities will just be imposing the law and this illegality will be apprehended.

But the topic isn't that sound right, not it is all about illegal adoption, it is only the illegal operation of Bitcoin ATM without license I'd never find this having a negative impact on the community nor it gives a reason why investors will afraid of using ATM at this time.

[rathaha10]

I wonder what will happen to ATMs and what is their number, I hope the state will appropriate it and allow people to use them with reduced commissions. 

without any doubt, the cryptocurrency ATM service will be suspended since US dosen't really support the activity of cryptocurrencies. I'm sure Mohammed will be giving quite a lenthy sentence since he's being charged with cases relating to money laundering. This should serve as a lesson for every crypto enthusiasts not to run a registered exchanges in countries where the activity of cryptocurrency is not fully being supported

[seoincorporation]

An amazing story. America is truly a land of opportunity. If he thought of this, I'm sure someone else is doing the same.

I wonder what the real number of illegal bitcoin ATMs in America is, and where it come from. It have to be produced somewhere and the system adjusted, or they buy it on the gray market.

That's nothing compared to the Mexican card fraud on Cancun, That was the true land of opportunity, just imagine building luxury hotels with your money laundering business, epic, right?

There is a nice report about how it works, maybe you can watch it with subs https://www.youtube.com/watch?v=m0JW7NX9LRg

[Shasha80]

I think Kais Mohammad is not a person with careful planning, because it is too careless to keep a Bitcoin ATM without a license
in public places like malls. No wonder he was finally arrested by the police, but what surprised me was how management malls
gave permission illegal Bitcoin ATMs can reach their malls. This is so careless either.

[Botnake]

I think Kais Mohammad is not a person with careful planning, because it is too careless to keep a Bitcoin ATM without a license
in public places like malls. No wonder he was finally arrested by the police,

True, however, maybe the time he started the business, there was no clear law about it or maybe he is not aware, with the amount involve or he spent to buy ATM machines, it shows to me that he has already spread his ATM in different locations, so maybe he is just not too well verse with the Law but a law is a law, you can't reason out your being ignorance to it. As for me, it's not intentional to help criminals launders money, it's just his ignorance that cause him trouble.

but what surprised me was how management malls
gave permission illegal Bitcoin ATMs can reach their malls. This is so careless either.

They should also be blame here, if we look the other way, if Kais Mohammad committed a crime, the malls should be an accomplice.

[Debonaire217]

This is not a mass adoption, in the first place, if his intention is money laundering, people will turn their backs to bitcoin so instead of them having positive experience, it will result to exponential spread of negative news about bitcoin as a whole.

If we really want to promote bitcoin in our own ways, there are legal ways to do it. There's nothing wrong with complying with the government and the jurisdiction, in the end, it is still our business to run bitcoin ATM, and all business should be monitored.